Texas REP Reports Profit, Seventh Consecutive Quarter Of Customer Growth

Summer Energy Holdings, Inc., the parent of Texas retail provider Summer Energy, LLC, said that it recorded its seventh consecutive quarter of customer growth in announcing earnings for the quarter ending September 30, 2015

Summer Energy did not provide a specific updated Residential Customer Equivalents (RCE) count, which exceed 100,000 as of July 2015.

For the three months ended September 30, 2015, Summer Energy Holdings reported quarterly operating income of $2.0 million, versus an operating loss of $1.0 million a year ago.

Net income was $1.6 million for the three months ended September 30, 2015, versus a loss of $1.3 million a year ago.

Gross profit for the three months ended September 30, 2015 was $5.1 million on $25.5 million in revenue, versus year-ago gross profit of $1.1 million on $17.6 million in revenue.

"Management plans to continue to execute on its sales and marketing program to solicit individual commercial and residential customers. Management also plans to continue to acquire portfolios of commercial and residential customers when offered at reasonable prices," the company said