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February 10, 2016 6:35 AM ET

Independent Power and Renewable Electricity Producers

Company Overview of Aspirity Holdings LLC

Company Overview

Aspirity Holdings LLC, through its subsidiaries, provides wholesale and retail energy services in North America. It operates through three segments: Wholesale Trading, Retail Energy Services, and Diversified Investments. The company trades financial and physical electricity contracts in wholesale markets managed by ISOs or regional transmission organizations; and trades electricity and other energy-related commodities and derivatives on exchanges operated by Intercontinental Exchange, the Natural Gas Exchange Inc., and CME Group. It also sells electricity to residential and small commercial customers; and acquires and develops land for resale as sites for construction of single- and multi-fa...

16233 Kenyon Avenue

Suite 210

Lakeville, MN 55044

United States

Founded in 2009

37 Employees

Phone:

952-241-3103

Key Executives for Aspirity Holdings LLC

Chairman of The Board of Governors, Chief Executive Officer and President
Age: 49
Chief Financial Officer, Vice President of Finance and Member of Risk Management Committee
Age: 58
Vice President of Operations and Secretary
Age: 43
Chief Risk Officer, Vice President of Risk Management and Member of Risk Management Committee
Age: 32
Compensation as of Fiscal Year 2015.

Aspirity Holdings LLC Key Developments

Aspirity Holdings LLC Reports Earnings Results for the Third Quarter and First Nine Months Ended September 30, 2015; Revises Earnings Guidance for 2015

Aspirity Holdings LLC reported earnings results for the third quarter and first nine months ended September 30, 2015. For the quarter, net revenue was $12,873,000 against $4,403,000 a year ago. Operating loss was $735,000 against $4,638,000 a year ago. Net loss attributable to common shareholders was $840,000 against $5,409,000 a year ago. For nine months, net revenue was $38,214,000 against $40,856,000 a year ago. Operating loss was $1,854,000 against operating income of $4,638,000 a year ago. Net loss attributable to common shareholders was $3,098,000 against income of $5,449,000 a year ago. The company expects that revenues for 2015 will now be in a range of $55 million to $60 million, down from earlier guidance in the second quarter of $55 million to $65 million. This is based on the adjustment for the sale of TCP/Summit and management’s assessment of wholesale and retail electricity market conditions, but excluding the effects of the disposition of Krieger Enterprises. For the year, the company now expects operating profit to range from a loss of $2.0 million to income of $0.5 million compared to the $2 million to $4 million operating income range forecast earlier.

Aspirity Holdings LLC Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Revises Earnings Guidance for the Year 2015

Aspirity Holdings LLC reported earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company's total revenues were $9,114,000 compared to $6,532,000 for the same period in 2014, an increase of 40%. Operating loss totaled $2,531,000, down from very modest operating income of $4,000 in second quarter 2014. Net loss was $2,816,000 compared to $726,000 a year ago. Net loss attributable to common was $2,953,000 compared to $863,000 a year ago. For the first half of 2015, the operating loss was $1,119,000 compared to operating income of $12,316,000 for the same period in 2014. Total revenues were 25,341,000, down 30% from 36,453,000 for the same period in 2014. Net loss was $1,983,000 compared to net income of $11,132,000 a year ago. Net loss attributable to common was $2,258,000 compared to net income attributable to common of $10,857,000 a year ago. The company expects that revenues for 2015 will now be in a range of $55 to $65 million, down from guidance published in the first quarter of $70 to $80 million. This is based on the adjustment for the sale of TCP/Summit and management’s assessment of wholesale and retail electricity market conditions, but excluding the effects of the disposition of Krieger Enterprises. For the year, the company now expects operating income of $2.0 to $4.0 million compared to the $6 to $8 million range forecast earlier.

Twin Cities Power Holdings, LLC has Changed its Name to Aspirity Holdings LLC

On July 14, 2015, Twin Cities Power Holdings, LLC changed its name to Aspirity Holdings LLC.

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