{"id":379178,"date":"2020-11-11T22:31:49","date_gmt":"2020-11-12T03:31:49","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=379178"},"modified":"2020-11-11T22:31:49","modified_gmt":"2020-11-12T03:31:49","slug":"just-energy-reports-fiscal-second-quarter-2021-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/just-energy-reports-fiscal-second-quarter-2021-results\/","title":{"rendered":"Just Energy Reports Fiscal Second Quarter 2021 Results"},"content":{"rendered":"
\n

\n Base EBITDA from continuing operations of $33 million for the fiscal second quarter 2021
<\/em>
\n Increasing Base EBITDA guidance range to between $145 million and $165 million for fiscal year 2021\u00a0
<\/em>
\n Completed Recapitalization provides strong foundation to drive profitable growth<\/em>\n <\/p>\n

TORONTO, Nov. 11, 2020 (GLOBE NEWSWIRE) — Just Energy Group Inc. (\u201cJust Energy\u201d or the \u201cCompany\u201d) (TSX:JE; NYSE:JE), a retail energy provider specializing in electricity and natural gas commodities, renewable energy options and carbon offsets, announced its second quarter results for fiscal year 2021.<\/p>\n

\u201cThe second fiscal quarter was hallmarked by several important milestones including reestablishing the Company as a financially stable, more nimble and competitive retail energy provider\u201d said Just Energy\u2019s President and Chief Executive Officer, Scott Gahn. \u201cWe believe the successful closing of our Recapitalization plan, the reconstitution of the Board of Directors and appointment of new leadership were mission critical and position us to better meet our customers\u2019 needs and ultimately deliver value to our stakeholders.\u201d<\/p>\n

\u201cOur Q2 sales improved, with our total new RCE additions increasing from forty-six thousand in Q1 to eighty-six thousand for the second quarter of fiscal 2021. \u00a0The increase was driven by our focus on building our digital sales capabilities while our direct sales channels continue to be inhibited by the COVID-19 pandemic, resulting in a decline in our net RCE additions for the quarter. \u00a0In spite of the challenges, we continue to concentrate on ensuring every action we take is in pursuit of profitable growth and we are confident in our ability to achieve that goal.\u201d<\/p>\n

Mr. Gahn concluded, \u201cWhile the timing and pace of any potential recovery is difficult to predict during the pandemic, which continues to constrain our direct selling activity, we are experiencing increasing momentum in digital sales activity and gaining more confidence in our outlook for fiscal year 2021 financial results. As a result, we are tracking to the upper end of our original Base EBITDA guidance and have increased our guidance for Base EBITDA to a range of $145 million to $165 million for fiscal year 2021.\u201d<\/p>\n

\n
\n Key developments:<\/u>
\n <\/strong>\n <\/p>\n