Spark Energy Inc. on Aug. 3 reported second-quarter 2017 adjusted EBITDA of $20.0 million, up from $15.7 million in the same quarter of 2016.
The $4.3 million year-over-year increase was attributed to higher volumes from the "Provider" acquisition and lower per-RCE general and administrative expenses.
Retail gross margin was $43.1 million in the most recent quarter, compared with $38.8 million during the second quarter of 2016.
Spark Energy booked $4.7 million in second-quarter net income, a sharp decrease from $19.0 million a year ago. The decrease was due to $5.7 million in noncash losses on Spark's hedge portfolio in the 2017 second quarter, compared to noncash gains of $14.3 million in the prior year.
Total revenues for the quarter were $151.4 million, compared with $109.4 million in the corresponding period of 2016, while operating income was down year over year to $7.8 million, from $24.4 million.
The company maintained its full-year 2017 adjusted EBITDA guidance range of $110 million to $120 million. It will a quarterly dividend of 18.125 cents per class A common stock on Sept. 14.