Via Renewables, Inc. Q3 FY2023 earnings call

• Experienced mild weather in the Northeast and a record-hot summer in ERCOT service area but navigated the quarter successfully via proven risk policies and portfolio diversification.
• Finished the quarter with lower attrition and a slightly higher RCE count from the prior year.
• Added approximately 24,000 RCEs this quarter.
• Maintained focus on organic growth channels and customer retention.
• Remained committed to strengthening balance sheet by paying down debt, improving liquidity and working capital.

In the third quarter, Via Renewables reported EBITDA of $12.8 million, a $2.3 million decrease from the prior year's $15.1 million. The Retail Electricity segment had a gross margin of $26 million in the third quarter of 2023, down from $28.5 million in the prior year's third quarter, primarily due to lower volumes but partially offset by slightly higher unit margins. The Retail Natural Gas segment had a gross margin of $5.2 million in the third quarter of 2023, up from $1.9 million in the prior year's third quarter, due to higher volumes and unit margins. Retail gross margin for the quarter was $31.9 million compared with $30.5 million last year.