HomeAugust 13, 2015
Parent of Texas REP Exceeds 100,000 RCEs, Reports Earnings Growth
Copyright 2015 EnergyChoiceMatters.com.
Summer Energy Holdings, Inc. announced that as of July 2015, its customer base exceeded 100,000 Residential Customer Equivalents (RCE) with a mix of both residential and commercial customers.
Summer Energy Holdings, Inc. is the parent of Texas retail provider Summer Energy, LLC.
According to a regulatory filing, Summer Energy Holdings, Inc.'s customer count had been 74,000 Residential Customer Equivalents as of April 30, 2015
Summer Energy Holdings, Inc. reported operating income of $811,000 for the quarter ended June 30, 2015, versus an operating loss of $410,000 a year ago.
Net income for the quarter ended June 30, 2015 was $232,000, versus a loss of $1.3 million a year ago.
Revenue for the second quarter of 2015 was $20.1 million, up from $9.9 million a year ago. For the second quarter of 2015, revenues from contract cancellation fees, disconnection fees and late fees was $647,000.
Gross profit was $3.6 million for the second quarter of 2015, versus $1.1 million a year ago.
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