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Spark Energy reports lower earnings in Q2'19

Spark Energy Inc. on Aug. 7 booked adjusted EBITDA of $13.6 million in the second quarter of 2019, compared to $16.1 million in the same period of 2018.

The company attributed the decrease to mild temperatures and increased customer acquisition spending.

The company recorded a retail gross margin of $41.7 million during the quarter, compared to $43.4 million a year ago.

Net loss for the quarter totaled $25.5 million, compared to net income of $23.9 million in the second quarter of 2018. The result was driven by a decrease in the noncash mark-to-market position of the company's hedge portfolio of $22.7 million, as well as $10.8 million of non-recurring general and administrative costs associated with the settlement of significant litigation.

Revenues for the quarter decreased to $177.7 million from $232.3 million a year ago.