Spark Energy's (SPKE) 2019 Earnings Rise, Sales Drop Y/Y

By Zacks Investment ResearchStock MarketsMar 05, 2020 07:32AM ET

www.investing.com/analysis/spark-energys-spke-2019-earnings-rise-sales-drop-yy-200513509

Spark Energy's (SPKE) 2019 Earnings Rise, Sales Drop Y/Y

By Zacks Investment Research | Mar 05, 2020 07:32AM ET

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Spark Energy (NASDAQ:SPKE) reported 2019 operating earnings of 2 cents per share, against loss of 69 cents in 2018.

Total Revenues

Spark Energy’s total revenues came in at $813.7 million, down 19.1% from $1,005.9 million reported in 2018.

Spark Energy, Inc. Price, Consensus and EPS Surprise

Spark Energy, Inc. Price, Consensus and EPS Surprise

Spark Energy, Inc. price-consensus-eps-surprise-chart | Spark Energy, Inc. Quote

Highlights of the Release

During the fourth quarter, the company reported Retail Gross Margin of $64.3 million compared with $50.2 million in the year-ago quarter. This increase is due to electricity unit margins and volumes returning to normal after a downturn in 2018, offset by lower customer counts.

Spark Energy reported Adjusted EBITDA of $92.4 million in 2019 compared with $70.7 million in 2018. The year-over-year improvement was primarily due to higher Retail Gross Margin.

Nearly 70% of all new sales of Spark Energy in 2019 came from clean energy sources.

Financial Update

Cash and cash equivalents as of Dec 31, 2019 were $56.7 million compared with $41 million as of Dec 31, 2018.

Long-term debt as of Dec 31, 2019 was $123 million compared with $129.5 million as of Dec 31, 2018.

Cash from operating activities in 2019 was $91.7 million compared with $59.8 million in 2018.

Zacks Rank

Currently, Spark Energy has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Releases

FirstEnergy Corporation (NYSE:FE) came up with fourth-quarter 2019 operating earnings of 55 cents per share, which beat the Zacks Consensus Estimate of 48 cents by 14.6%.

Exelon Corporation’s (NASDAQ:EXC) fourth-quarter 2019 operating earnings of 83 cents per share surpassed the Zacks Consensus Estimate of 73 cents by 13.6%.

Dominion Energy Inc. (NYSE:D) reported fourth-quarter 2019 operating earnings of $1.18 per share, beating the Zacks Consensus Estimate of $1.16 by 1.7%.

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Spark Energy's (SPKE) 2019 Earnings Rise, Sales Drop Y/Y

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