Utility Warehouse (UW) introduced its closing outcomes for the primary quarter, ending March 31, 2023. Revenues throughout this time grew to $3.1 billion, up from $1.2 billion in 2022. Adjusted pre-tax revenue was up by 55% and adjusted EPS elevated by 57%.
The corporate introduced document natural development in its operations, together with a 22% enhance in prospects. UW’s complete buyer base now quantity 886,579, in comparison with 728,680 in 2022. There was additionally a 24% enhance within the variety of providers equipped, which now complete 2.8 million, versus 2.3 million in 2022. Accomplice numbers elevated 25% to 60,000 and insurance coverage enterprise greater than doubled to 100,000 insurance policies.
“This has been an excellent 12 months for the corporate: the basic strengths of our enterprise mannequin have reasserted themselves and delivered a powerful end result for all our stakeholders— significantly for our prospects who benefitted from the bottom vitality costs within the nation all year long, saving over £30m on their payments,” mentioned UW Co-CEOs Andrew Lindsay and Stuart Burnett in a joint assertion. “Nonetheless, we search to go additional than merely serving to prospects to save lots of money and time on their family payments: by means of the UW Accomplice alternative, 1000’s of individuals throughout the UK are incomes a much-needed further revenue each month. We count on the continued strain on family budgets to proceed to drive vital development within the variety of Companions recommending our market-leading providers to their family and friends. This distinctive mixture of providing shoppers each significant financial savings and extra earnings within the present financial setting underpins our goal of welcoming an extra million prospects to UW over the medium time period.”
