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Spark Energy Reports Earnings Growth on Higher Margins, M&A
For the quarter ended September 30, 2015, Spark Energy, Inc. reported Adjusted EBITDA of $5.6 million on $91.3 million of revenue compared to Adjusted EBITDA of $(4.4) million for the quarter ended September 30, 2014.
This increase of $10.0 million is primarily attributable to increased retail gross margin in Spark's electricity segment, decreased customer acquisition costs, and its previously reported CenStar Energy and Oasis Energy acquisitions, partially offset by increased general and administrative expenses.
For the quarter ended September 30, 2015, Spark reported Retail Gross Margin of $26.7 million compared to Retail Gross Margin of $14.6 million for the quarter ended September 30, 2014. This increase of $12.1 million is primarily attributable to expanded retail electricity unit margins and increased retail electricity volumes. Favorable supply costs across several of Spark's markets were a key driver of these elevated unit margins in the third quarter.
Net income for the quarter ended September 30, 2015 was $5.9 million compared to net income of $0.4 million for the quarter ended September 30, 2014.
The CenStar Energy and Oasis Energy acquisitions added over 100,000 residential customer equivalents, bringing Spark's total to over 400,000 RCEs.
Spark cited, "expanded margins in retail electricity and retail natural gas segments," as a highlight during the quarter ending September 30, 2015
Spark is holding an earnings conference call this morning
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November 12, 2015
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Copyright 2010-15 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com
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