Shares of Genie Energy Ltd. (GNE) have declined 18.3% since reporting results for the second quarter of 2025, lagging the S&P 500 index’s 0.4% rise in the same period. Over the past month, the stock has fallen 26.1% against the S&P 500’s 3.7% advance. This contrasting trend highlights strong initial investor enthusiasm following the results, tempered by a subsequent pullback amid broader market strength.Earnings & Revenue EstimatesGenie Energy’s second-quarter 2025 revenues rose 16% year over year to $105.3 ...

FORM 10-Q Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-35327 GENIE ENERGY LTD. (Exact Name of Registrant as Specified in its Charter) | Delaware | 45-2069276 | | --- | --- | | (State or other jurisdicti ...

Financial Data and Key Metrics Changes - The second quarter revenue increased by 16% to $105.3 million, driven by growth in both GE Retail and GE Renewables [11] - Consolidated net income attributable to common stockholders was $2.8 million or $0.11 per share, compared to $9.6 million or $0.36 per share a year earlier [14] - Adjusted EBITDA decreased to $3 million from $9.5 million year-over-year, primarily due to reduced gross profit at GRE [14] Business Line Data and Key Metrics Changes - GRE's revenue increased by 14% to $99 million, with a year-over-year increase in customer base of 1520% [12][4] - GRU's revenue surged by 57% to $6.3 million, led by strong growth in retail brokerage and advisory services [13] - Genie Solar's revenue jumped over six times to $1 billion, with a 90% decrease in bottom line loss due to reduced SG&A expenses [6] Market Data and Key Metrics Changes - Churn rate at GRE dropped to 4.8% from 5.5% in the previous quarter, indicating improved customer retention [5] - Cost of electricity per kilowatt hour sold increased by 20% year-over-year, particularly in the PJM and MISO interconnection zones [13] - The company experienced significant margin compression due to wholesale power price increases in certain supply markets [5] Company Strategy and Development Direction - The company is focusing on advanced solar projects while pausing earlier stage projects to reassess their economics due to changes in tax incentives [8][9] - Genie Energy is optimistic about leveraging its insurance capabilities to offer tailored products to retail customers [9] - The company plans to continue investing in promising initiatives outside of solar generation [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that GRE's margins will return to historical levels, assuming normalized weather conditions [10] - The company anticipates unprecedented demand for power from data centers and industry in the coming years [8] - Despite a challenging pricing environment, the underlying business fundamentals remain strong, positioning the company well for the remainder of the year [16] Other Important Information - The company repurchased approximately 159,000 shares and paid a quarterly dividend of $0.75 per share [10] - Cash and cash equivalents totaled $201.6 million as of June 30, 2025 [15] Q&A Session Summary Question: What gives you hope that your retail margins will return to normal? - Management indicated that margins were affected by political factors and weather, but they expect wholesale prices to come down, which supports their guidance [20] Question: How does weather impact your margins significantly if you're materially hedged? - Management explained that even a small percentage of unhedged load can significantly affect margins if weather deviates from historical norms [24] Question: Is there a viable path for new solar projects? - Management stated that very little capital is locked up in new projects and they are evaluating future projects in light of recent changes in tax credits [27][28] Question: How is the performance of the captive insurance subsidiary? - Management described the captive insurance as conservative in cash management and indicated they are starting health insurance sales, leveraging existing marketing channels [31][32]

Exhibit 99.1 "Looking ahead to the balance of the year, assuming a normalized retail margin environment, and further improvement and growth at GREW led by Diversegy and Genie Solar, we continue to expect that Genie will generate $40 to $50 million of consolidated Adjusted EBITDA in 2025." Second Quarter 2025 Highlights (Unless otherwise noted, 2Q25 results are compared to 2Q24, and results of the former Genie Retail Energy International (GREI) segment are included in discontinued operations for all periods. ...

NEWARK, NJ, July 29, 2025 (GLOBE NEWSWIRE) -- Genie Energy Ltd., (NYSE: GNE), a leading retail energy and renewable energy solutions provider, will announce financial and operational results for the second quarter of 2025 on Thursday, August 7, 2025. Genie Energy will issue an earnings release over a wire service and post it in the “Investors” section of the Genie Energy website (https://genie.com/investors/quarterly-earnings/) at 7:30 AM Eastern. The release also will be filed in a current report (Form 8-K ...

Group 1 - Two stocks in the utilities sector are signaling potential warnings for momentum-focused investors [1] - The Relative Strength Index (RSI) is a key momentum indicator, with values above 70 indicating overbought conditions [2] - Major overbought stocks identified in the sector include Korea Electric Power Corp and Genie Energy Ltd [3] Group 2 - Korea Electric Power Corp has frozen electricity rates for Q3, resulting in a 20% stock increase over the past five days, with a 52-week high of $12.68 and an RSI value of 82.7 [6] - Genie Energy reported a first-quarter adjusted EPS of 42 cents, up from 33 cents a year ago, with a stock gain of around 30% over the past month and a 52-week high of $28.00, having an RSI value of 91.2 [6]

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) Presents the company's unaudited consolidated financial statements for the quarter ended March 31, 2025 [Consolidated Balance Sheets](index=4&type=section&id=CONSOLIDATED%20BALANCE%20SHEETS) Total assets increased to $384.4 million, driven by higher cash, while total equity grew to $187.4 million as of March 31, 2025 Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $112,544 | $104,456 | | Total current assets | $238,508 | $227,447 | | Total assets | $384,378 | $371,275 | | **Liabilities & Equity** | | | | Total current liabilities | $117,317 | $109,812 | | Total liabilities | $196,988 | $191,724 | | Total equity | $187,390 | $179,551 | [Consolidated Statements of Operations](index=6&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS) Total revenues grew 14.3% year-over-year to $136.8 million, with net income rising to $10.6 million for the first quarter of 2025 Q1 2025 vs. Q1 2024 Performance (in thousands, except per share data) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Total revenues | $136,807 | $119,688 | | Gross profit | $37,363 | $33,786 | | Income from operations | $12,831 | $9,849 | | Net income attributable to Genie Energy Ltd. | $10,630 | $8,123 | | Diluted EPS | $0.40 | $0.30 | | Dividends declared per common share | $0.075 | $0.075 | [Consolidated Statements of Comprehensive Income](index=7&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20COMPREHENSIVE%20INCOME) Comprehensive income increased to $11.1 million in Q1 2025, boosted by a positive foreign currency translation adjustment Comprehensive Income Summary (in thousands) | Item | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net income | $10,301 | $8,169 | | Foreign currency translation adjustments | $1,124 | $(5,082) | | **Comprehensive income attributable to Genie Energy Ltd.** | **$11,084** | **$3,041** | [Consolidated Statements of Equity](index=8&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20EQUITY) Total equity rose to $187.4 million, reflecting net income partially offset by dividends and stock repurchases - Key changes in equity for Q1 2025 included **$10.6 million in net income** attributable to stockholders, **$2.0 million in dividends paid**, and **$1.9 million in Class B common stock repurchases** under the buyback program[17](index=17&type=chunk) [Consolidated Statements of Cash Flows](index=10&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) Net cash from operations was $15.3 million, contributing to a net increase in cash of $8.8 million for Q1 2025 Cash Flow Summary (in thousands) | Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $15,349 | $12,926 | | Net cash used in investing activities | $(2,093) | $(5,844) | | Net cash used in financing activities | $(4,375) | $(7,730) | | **Net increase (decrease) in cash** | **$8,801** | **$(574)** | [Notes to Consolidated Financial Statements](index=11&type=section&id=NOTES%20TO%20CONSOLIDATED%20FINANCIAL%20STATEMENTS) Provides details on accounting policies, segment operations, discontinued activities, and various financial instruments and commitments - The company operates through two segments: **Genie Retail Energy (GRE)**, which resells electricity and gas, and **Genie Renewables (GREW)**, which focuses on solar projects and energy advisory services[25](index=25&type=chunk)[26](index=26&type=chunk)[27](index=27&type=chunk) - Operations in Finland and Sweden have been discontinued and are accounted for as such; legal claims related to these operations are ongoing, with the company disputing claims totaling approximately **€40.0 million**[28](index=28&type=chunk)[63](index=63&type=chunk)[68](index=68&type=chunk) - The company established a captive insurance subsidiary in December 2023 to cover certain operational risks, which held **$89.3 million in restricted cash** as of March 31, 2025[134](index=134&type=chunk)[138](index=138&type=chunk)[139](index=139&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=40&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Discusses strong Q1 performance driven by the GRE segment, strategic shifts in the GREW segment, and the company's robust liquidity position - The company is comprised of two main segments: **Genie Retail Energy (GRE)** for reselling electricity and gas, and **Genie Renewables (GREW)** for solar project development and energy advisory services[153](index=153&type=chunk)[154](index=154&type=chunk) - The company's liquidity is strong, with **$112.5 million in unrestricted cash** and cash equivalents and **$121.2 million in working capital** as of March 31, 2025[210](index=210&type=chunk)[211](index=211&type=chunk) [Results of Operations](index=44&type=section&id=Results%20of%20Operations) Consolidated operating income rose 30.3% to $12.8 million, led by strong growth in the GRE segment Segment Income (Loss) from Operations (in thousands) | Segment | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Genie Retail Energy (GRE) | $16,847 | $14,248 | | Genie Renewables (GREW) | $(855) | $(645) | | Corporate | $(3,161) | $(3,752) | | **Total Income from Operations** | **$12,831** | **$9,849** | [Liquidity and Capital Resources](index=51&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains robust liquidity with $121.2 million in working capital while continuing capital returns and investments - Cash flow from operating activities of continuing operations was **$13.5 million in Q1 2025**, an improvement from $8.7 million in Q1 2024[212](index=212&type=chunk)[213](index=213&type=chunk) - In Q1 2025, the company paid **$2.0 million in dividends** and repurchased **$1.9 million of its Class B common stock**[225](index=225&type=chunk)[226](index=226&type=chunk) - The company has future purchase commitments of **$159.4 million** as of March 31, 2025, with **$147.1 million for electricity**[130](index=130&type=chunk)[216](index=216&type=chunk) - Anticipated capital expenditures for the full year 2025 are projected to be between **$10.0 million and $20.0 million**, mainly for GREW's solar projects[220](index=220&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risks](index=55&type=section&id=Item%203%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risks) Outlines the company's primary market risk from commodity price volatility and its use of derivatives for hedging - The primary market risk exposure is the price of natural gas and electricity purchases and sales[233](index=233&type=chunk) - The company uses derivative instruments (put/call options, swaps) to hedge against price volatility; a **gain of $3.2 million** was recognized from these instruments in Q1 2025, versus a **$5.5 million loss in Q1 2024**[234](index=234&type=chunk) [Item 4. Controls and Procedures](index=55&type=section&id=Item%204%20Controls%20and%20Procedures) Confirms the effectiveness of disclosure controls and procedures with no material changes in internal controls during the quarter - The CEO and CFO concluded that **disclosure controls and procedures were effective** as of March 31, 2025[235](index=235&type=chunk) - **No material changes** to internal control over financial reporting occurred during the quarter ended March 31, 2025[236](index=236&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=56&type=section&id=Item%201.%20Legal%20Proceedings) Details ongoing legal matters, including a consumer fraud complaint in Illinois which the company is actively defending - The company is involved in a legal proceeding where the Attorney General of Illinois filed a complaint against its subsidiary, Residents Energy, alleging violations of consumer protection laws; **the company denies the allegations**[126](index=126&type=chunk)[238](index=238&type=chunk) [Item 1A. Risk Factors](index=56&type=section&id=Item%201A.Risk%20Factors) States there are no material changes to the risk factors disclosed in the 2024 Annual Report on Form 10-K - **No material changes** from the risk factors included in the 2024 Form 10-K were reported[239](index=239&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=56&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Reports on the repurchase of 159,372 shares of Class B common stock during the first quarter of 2025 Q1 2025 Class B Stock Repurchases | Period | Total Shares Purchased | Average Price per Share | Shares Purchased Under Plan | | :--- | :--- | :--- | :--- | | Jan 2025 | 52,757 | $14.76 | 20,648 | | Feb 2025 | 623 | $14.06 | 623 | | Mar 2025 | 105,992 | $14.74 | 105,992 | | **Total** | **159,372** | **$14.74** | **127,263** | - As of March 31, 2025, **3.9 million shares of Class B common stock remained available for repurchase** under the existing stock repurchase program[96](index=96&type=chunk)[226](index=226&type=chunk) [Item 3. Defaults upon Senior Securities](index=56&type=section&id=Item%203.%20Defaults%20upon%20Senior%20Securities) Reports no defaults upon senior securities - None[242](index=242&type=chunk) [Item 4. Mine Safety Disclosures](index=56&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) States that this section is not applicable - Not applicable[242](index=242&type=chunk) [Item 5. Other Information](index=56&type=section&id=Item%205.%20Other%20Information) Reports no other information - None[242](index=242&type=chunk) [Item 6. Exhibits](index=57&type=section&id=Item%206.%20Exhibits) Lists the exhibits filed with the report, including required CEO/CFO certifications and interactive data files - Exhibits filed include **CEO/CFO certifications (302 & 906)** and XBRL data files[243](index=243&type=chunk)

Core Viewpoint - Genie Energy Ltd. has demonstrated strong financial performance in Q1 2025, with significant revenue and net income growth, outperforming the broader market trends [1][2][3]. Financial Performance - Total revenues increased by 14.3% year over year to $136.8 million, up from $119.7 million, driven by a 17.8% rise in Genie Retail Energy segment revenues [2]. - Net income attributable to common stockholders rose 30.9% to $10.6 million, translating to diluted EPS of 40 cents, up from 30 cents in Q1 2024 [3]. - Non-GAAP net income increased 24.7% to $11.1 million, with non-GAAP EPS rising to 42 cents from 33 cents [3]. Operational Strength & Customer Growth - Genie Retail Energy reported net additions of over 48,000 meters, ending the quarter with 413,000 meters and 402,000 residential customer equivalents, reflecting increases of 13.3% and 15.6% respectively [4]. - The company maintained a customer churn rate of 5.5%, consistent with the previous year [5]. - Income from operations for Genie Retail Energy rose 18.2% year over year to $16.8 million, while adjusted EBITDA increased 17.1% to $17.1 million [6]. Renewables Segment Performance - Genie Renewables experienced a 40% year-over-year drop in revenues to $4.3 million due to exiting the commercial-scale solar project business [7]. - Despite the decline, Diversegy, the energy brokerage arm, saw a 55% increase in revenues, contributing significantly to the segment [7]. - Genie Renewables posted a loss from operations of $0.9 million, wider than the $0.6 million loss in Q1 2024, reflecting ongoing investments in utility-scale projects [8]. Management Insights & Strategic Direction - CEO Michael Stein noted the normalization of margins in the retail energy business and credited customer retention programs for maintaining churn rates [9]. - CFO Avi Goldin highlighted strong cash flow generation and disciplined cost management, with SG&A expenses rising only 4.3% year over year [10]. Guidance & Future Outlook - Management reaffirmed full-year adjusted EBITDA guidance of $40-$50 million, anticipating continued strength in Genie Retail Energy and contributions from the solar development pipeline [11]. Shareholder Returns & Financial Position - In the quarter, Genie Energy repurchased approximately 127,000 shares for $1.9 million and paid a quarterly dividend of 7.5 cents per share, returning a total of $3.9 million to shareholders [12]. - As of March 31, 2025, the company held $210.2 million in cash and marketable securities, up from $201 million at the end of 2024 [12].

Financial Data and Key Metrics Changes - Consolidated revenue increased by 14.3% or $17.1 million to $136.8 million, driven by strong performance in Genie Retail Energy [12] - Consolidated gross profit rose by 10.6% to $37.4 million, while gross margin decreased by 90 basis points to 27.3% [13][14] - Consolidated net income attributable to stockholders increased by $10.6 million or $0.40 per share from $8.1 million or $0.30 per share a year earlier [15] Business Line Data and Key Metrics Changes - Genie Retail Energy (GRE) revenue jumped 17.8% to $132.5 million, primarily due to investments made to grow the customer base [12] - Electricity revenue climbed 16.4% to $104.1 million, contributing 78.6% of GRE's revenues, with kilowatt hours sold increasing by 23.5% [12] - Revenue from natural gas sales increased by 26.8% to $28.4 million [13] - Genie Renewable Utility (GRU) revenue decreased by 40% to $4.3 million, largely due to a pivot from the commercial project market [13] Market Data and Key Metrics Changes - Customer churn in the first quarter was 5.5%, unchanged from the year-ago quarter [6] - The company ended the quarter with approximately 413,000 meters served, comprising 402,000 Residential Customer Equivalents (RCEs) [5] Company Strategy and Development Direction - The company is focused on expanding its customer base and has begun marketing in California, with plans to offer gas in Kentucky in the second quarter [6] - The community solar project in Lansing, New York, is on track for completion in the third quarter and is expected to be EBITDA accretive immediately upon going online [7][8] - The diversity energy brokerage business has transitioned from EBITDA negative to generating positive cash flow, indicating a strategic shift towards more profitable operations [9] Management's Comments on Operating Environment and Future Outlook - Management highlighted strong operational and financial results, indicating a return to normalized results for the retail energy business [4] - The company confirmed its full-year adjusted EBITDA guidance of $40 million to $50 million, suggesting confidence in future performance [17] Other Important Information - The company returned $3.9 million to stockholders through dividends and share repurchases during the first quarter [9] - Cash, cash equivalents, and marketable securities totaled $210.2 million as of March 31, 2025, an increase of $9.2 million in the quarter [15] Q&A Session Summary - There were no questions during the Q&A session, leading to the conclusion of the conference call [18]

Financial Data and Key Metrics Changes - Consolidated revenue increased by 14.3% or $17.1 million to $136.8 million, driven by strong performance in Genie Retail Energy [10] - Consolidated gross profit rose by 10.6% to $37.4 million, while gross margin decreased by 90 basis points to 27.3% [11][12] - Consolidated net income attributable to stockholders increased by $10.6 million or $0.40 per share from $8.1 million or $0.30 per share a year earlier [13] Business Line Data and Key Metrics Changes - Genie Retail Energy (GRE) revenue jumped 17.8% to $132.5 million, primarily due to investments made to grow the customer base [10] - Electricity revenue climbed 16.4% to $104.1 million, contributing 78.6% of GRE's revenues, with kilowatt hours sold increasing by 23.5% [10] - Revenue from natural gas sales increased by 26.8% to $28.4 million, reflecting increases in both terms sold and revenues per term sold [11] Market Data and Key Metrics Changes - Customer churn in the first quarter was 5.5%, unchanged from the year-ago quarter, indicating effective customer retention efforts [5] - The company ended the quarter with approximately 413,000 meters served, comprising 402,000 Residential Customer Equivalents (RCEs) [4] Company Strategy and Development Direction - The company is expanding its customer base and has begun marketing in California, with plans to offer gas in Kentucky in the second quarter [5] - The community solar project in Lansing, New York, is on track for completion in the third quarter and is expected to be EBITDA accretive immediately upon going online [6] Management's Comments on Operating Environment and Future Outlook - Management highlighted strong operational and financial results, indicating a return to normalized results for the retail energy business [3] - The company confirmed its full-year adjusted EBITDA guidance of $40 million to $50 million, suggesting confidence in future performance [14] Other Important Information - The company returned $3.9 million to stockholders through dividends and share repurchases during the first quarter [7] - Cash, cash equivalents, and marketable securities totaled $210.2 million as of March 31, 2025, an increase of $9.2 million in the quarter [13] Q&A Session Summary - There were no questions during the Q&A session, leading to the conclusion of the conference call [16]