- Via Renewables [formerly Spark Energy] reported a disappointing quarter with adjusted EBITDA down 20.6% YoY.
- Company has been growing customer count, while reducing exposure to lower margin accounts.
- The company’s total RCE [retail customer equivalent] count as at 3Q21 was 368,000, a 6.0% jump QoQ.
- Stock trading at 6.1% dividend yield, 16.8% FCF yield to EV, 7.4x P/E, and 4.5x EV/EBITDA on 2022 estimates.
- Stock up over 36% since our initiation in August 2020. We still see 25% potential upside.
For further details see:
Via Renewables: 6% Dividend And 17% FCF Yield, Customer Growth Leads To 25% Upside