Genie Energy Ltd. (NYSE:GNE) Q3 2021 Earnings Conference Call November 4, 2021 8:30 AM ET Company Participants Michael Stein - CEO Avi Goldin - CFO Conference Call Participants Aaron Shafter - Great Mountain Capital Management David Canam - Canam Wealth Management Operator Good day, and welcome to Genie Energy's Third Quarter 2021 Earnings Call. [Operator Instructions] On this morning's call, Michael Stein, Genie Energy's Chief Executive Officer and Avi Goldin, Genie Energy's Chief Financial Officer, will ...

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, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-35327 (973) 438-3500 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b)-2 of the Exchange Act: | Title of each Class | Tradin ...

Genie Energy Ltd (NYSE:GNE) Q2 2021 Earnings Conference Call August 5, 2021 8:30 AM ET Company Participants Michael Stein - CEO Avi Goldin - CFO Conference Call Participants Aaron Shafter - Great Mountain Capital Management Kevin Kenner - Private Investor. Operator Good morning, and welcome to Genie Energy's Second Quarter 2021 Earnings Call. [Operator Instructions]. On this morning's call, Michael Stein, Genie Energy's Chief Executive Officer; and Avi Goldin, Genie Energy's Chief Financial Officer, will di ...

Genie Energy Ltd. (NYSE:GNE) Q1 2021 Earnings Conference Call May 6, 2021 8:30 AM ET Company Participants Michael Stein - Chief Executive Officer Avi Goldin - Chief Financial Officer Operator Good morning and welcome to Genie Energy’s First Quarter 2021 Earnings Call. [Operator Instructions] On this morning’s call, Michael Stein, Genie Energy’s Chief Executive Officer and Avi Goldin, Genie Energy’s Chief Financial Officer will discuss operational and financial results for the 3-month period ended March 31, ...

Financial Data and Key Metrics Changes - Genie Energy reported a record consolidated revenue of $379 million for the full year 2020, an increase of $64 million compared to 2019 [33] - Fourth quarter consolidated revenue increased by $21 million to $103 million, primarily due to the consolidation of Orbit Energy [29] - Consolidated adjusted EBITDA for the full year increased by $13.9 million to $24 million, driven by increased residential electricity consumption [41] Business Line Data and Key Metrics Changes - Genie Retail Energy (GRE) revenue decreased by $4 million to $70 million in the fourth quarter, primarily due to decreased gas sales [30] - GRE International revenue increased by $26 million to $32 million in the fourth quarter, reflecting the inclusion of Orbit results and increases in meters served [31] - Genie Energy Services revenue decreased from $1.2 million to $876,000 in the fourth quarter due to the fulfillment of a contract with JPMorgan Chase [32] Market Data and Key Metrics Changes - The customer base increased by 66,000 RCEs in 2020, reaching 440,000 RCEs at year-end, a 17% increase [7] - In the U.S., GRE added 28,000 domestic RCEs during the year, ending with 337,000 RCEs despite a decline in the fourth quarter [9] - GRE International saw a 58% increase in RCEs served during 2020, reaching 103,000 RCEs at year-end [10] Company Strategy and Development Direction - The company plans to pause dividends to maximize cash generation and focus on growing core businesses [24] - Genie Energy aims to progress in renewable energy sectors, leveraging existing strengths and strategic assets [24] - A plan has been adopted to replenish cash reserves and reevaluate underperforming assets [23] Management Comments on Operating Environment and Future Outlook - Management expressed disappointment over the financial impact of Winter Storm Uri in Texas and price spikes in Japan, estimating losses of approximately $12.8 million and $2.5 million respectively [15][22] - The company intends to fight for financial relief from the PUC regarding the Texas market failures [19] - Management remains confident in the potential for recovery and growth in core business areas despite recent challenges [25] Other Important Information - SG&A expenses increased by $3.4 million to $22.7 million in the fourth quarter, primarily due to the consolidation of Orbit Energy [38] - The company reported a consolidated loss from operations of $1.1 million in the fourth quarter, compared to income of $2.3 million in the previous year [39] - At year-end, the company had cash and short-term investments totaling $48.3 million, with no debt [42] Q&A Session Summary - No questions were raised during the Q&A session, and the conference call concluded without further inquiries [46]

Genie Energy Ltd (NYSE:GNE) Q3 2020 Earnings Conference Call November 6, 2020 8:30 AM ET Company Participants Michael Stein - Chief Executive Officer of Genie Energy and Chief Executive Officer of Genie Retail Energy Avi Goldin - Chief Financial Officer Conference Call Participants Aaron Shafter - Great Mountain Capital Management Operator Good day and welcome to Genie Energy's Third Quarter 2020 Earnings Call. [Operator Instructions] In this presentation, Genie Energy's management team will discuss operati ...

Genie Energy Ltd. (NYSE:GNE) Q2 2020 Earnings Conference Call August 6, 2020 8:30 AM ET Company Participants Michael Stein - Chief Executive Officer of Genie Energy and Chief Executive Officer of Genie Retail Energy Avi Goldin - Chief Financial Officer Conference Call Participants Aaron Shafter - Great Mountain Capital Management Operator Good evening, and welcome to Genie Energy’s Second Quarter 2020 Earnings Call. All participants will be in listen-only mode. [Operator Instructions] In its presentation, G ...

Financial Data and Key Metrics Changes - Consolidated revenue for Q1 2020 increased by $17.4 million to $104.1 million, with $12.7 million contributed by Genie Energy Services division [18] - Consolidated gross profit rose by $3.3 million to a record $28.9 million, with Genie Retail Energy contributing $27.6 million, an increase of $2.9 million from the previous year [21] - EPS was $0.20 per diluted share, which is $0.01 below the year-ago quarter [24] Business Line Data and Key Metrics Changes - Genie Retail Energy revenue increased to $79.1 million, up $2.6 million year-over-year, driven by a 17% increase in kilowatt hours sold [19] - Genie Retail Energy International revenue totaled $7 million, an increase of $2.1 million, reflecting customer base expansion in Finland and Japan [20] - Customer churn decreased to 4.7% per month from 5.3% in Q1 2019, with an average churn of 5.4% over the past 12 months [7] Market Data and Key Metrics Changes - Genie Energy's global customer base surpassed 401,000 RCEs and 532,000 meters, with a 20% increase in RCEs served over the trailing 12 months [6] - In the US, Genie Retail Energy added a net 20,000 RCEs and 15,000 meters during the quarter [5] - Overseas, GRE International added 7,000 RCEs and 20,000 meters, closing the quarter with 72,000 RCEs [6] Company Strategy and Development Direction - The company is focusing on entering new markets, including Texas, Michigan, and Georgia, and has recently entered the electricity market in Sweden [13] - Genie Energy is adjusting operations in response to the COVID-19 pandemic, with a focus on alternative customer acquisition channels [10] - The Board of Directors has increased the quarterly dividend to $0.085, a 13% increase, reflecting confidence in the company's future [15][27] Management's Comments on Operating Environment and Future Outlook - Management noted that the near-term impact of the pandemic has demonstrated the resilience of the business, with adjustments yielding positive results [12] - The company anticipates mixed impacts from the pandemic, with some factors improving performance while others may pose challenges [26] - Management remains confident about the company's position to realize value for shareholders despite uncertainties [27] Other Important Information - Cash used in operating activities was $2.7 million in Q1 2020, compared to cash provided by operating activities of $7 million in the previous year [25] - The company has a strong balance sheet with total assets of $157.2 million and liabilities of $71.5 million [24] Q&A Session Summary Question: Increase in SG&A expense - The increase in SG&A expense is primarily due to higher selling costs and commissions related to increased meter acquisition, along with some bad debt expense [34] Question: Afek well testing timeline - The company expects to start the pressure test on the well before the end of the second quarter, with potential results available by the time of the second quarter earnings release [38] Question: Share buybacks consideration - The Board has approved share buybacks if the prices are deemed right, but the focus is currently on returning capital to shareholders through increased dividends [40] Question: Cash collateral for hedge positions - The need for additional cash collateral was primarily due to market volatility affecting fixed-rate positions, requiring mark-to-market adjustments [42] Question: Effectiveness of door-to-door sales suspension - The suspension of door-to-door sales led to a significant decrease in customer acquisition but also reduced churn rates as competitors faced similar restrictions [51]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2019, 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 jurisdiction of incorporation or organiza ...

Company Overview - Genie Energy Ltd is listed on the NYSE under the symbol GNE, with a stock price of $8.27, approximately 26.8 million shares outstanding, and a market capitalization of $220 million[5] - The company also has Series 2012-A Preferred Stock listed on the NYSE under the symbol GNEPRA, with a stock price of $8.84 and approximately 2.3 million shares outstanding[6] - As of September 30, 2019, Genie Energy had $45.3 million in cash and $2.6 million in debt[7] - For the trailing twelve months (TTM) ended September 30, 2019, Genie Energy reported revenue of $296.1 million, income from operations of $7.0 million, and adjusted EBITDA of $8.7 million[7] Business Segments and Growth - Genie Retail Energy operates in 14 states and D C in the domestic market[11] - Genie Energy has expanded its retail energy business internationally, including operations in the UK, Finland (with 3.4 million meters), and Japan (with 83 million electric meters)[9, 17] - In Texas, a large and diverse addressable market, 92% of customers have switched providers since inception of deregulation[13] - Genie International crossed the 100k meter mark in 3Q19[17] Financial Performance - Genie Energy's consolidated revenue for the trailing twelve months (TTM) ended September 30, 2019, was $296.1 million[7, 20] - The adjusted EBITDA for the same period was $8.7 million[7, 20]