Via Renewables Reports 12% Revenue Growth but Decline in Net Income for Q1 2026

Via Renewables, Inc. reported its financial results for the first quarter of 2026, revealing total revenues of $159.0 million, a 12% increase from $142.3 million in the same period last year. The growth was primarily driven by higher retail electricity and natural gas rates, alongside a net asset optimization gain of $3.7 million, compared to a loss of $2.2 million in the prior year. However, the company experienced a decline in net income, which fell to $1.7 million from $18.5 million year-over-year, largely due to increased operating expenses and interest costs.

Operating expenses surged to $154.2 million, up 31% from $117.4 million in the previous year, with retail cost of revenues rising significantly by 39% to $132.6 million. This increase was attributed to higher commodity prices, particularly following winter storm impacts, and changes in the fair value of the company's derivative portfolio. General and administrative expenses decreased slightly to $15.7 million, down from $17.0 million, reflecting reduced legal costs despite higher employee-related expenses.

In terms of operational metrics, Via Renewables reported a total of 535,641 residential customer equivalents (RCEs) as of March 31, 2026, a slight decrease of 1% from the previous year. The company noted an average monthly customer attrition rate of 4.5%, up from 4.3% in the prior year, indicating challenges in customer retention. The company operates across 106 utility service territories in 21 states and the District of Columbia, with a focus on expanding its market presence.

Strategically, Via Renewables has been active in managing its capital structure, including the redemption of Series A Preferred Stock. The company redeemed 232,708 shares in January 2026 and announced plans to redeem an additional 209,437 shares in April 2026. As of March 31, 2026, the company had $50.6 million in cash and cash equivalents, with total liquidity of approximately $112.6 million, which it aims to utilize for operational needs and potential acquisitions. Looking ahead, Via Renewables anticipates continued focus on customer acquisition and retention, while navigating the challenges posed by market volatility and regulatory changes.