Genie Energy(US:GNE)2025-11-03 12:34Financial Performance - Genie Energy reported a 23.6% increase in revenue for Q3 2025, reaching $138.3 million compared to $111.9 million in Q3 2024[7]. - Adjusted EBITDA for Q3 2025 decreased by 39.5% to $8.2 million from $13.6 million in Q3 2024[7][8]. - Gross profit fell by 20.8% to $30.0 million, with gross margin decreasing to 21.7% from 33.9%[7][8]. - Net income attributable to Genie common stockholders decreased by 33.9% to $6.7 million, with diluted EPS dropping to $0.26 from $0.38[7][8]. - Genie Renewables' revenue decreased by 2.7% to $6.0 million, impacted by a shift away from commercial project development[13]. - Total revenues for Q3 2025 reached $138.3 million, a 23.6% increase from $111.9 million in Q3 2024[26]. - Gross profit for Q3 2025 was $30.0 million, down 20.1% from $37.9 million in Q3 2024[26]. - Net income attributable to Genie Energy Ltd. common stockholders for Q3 2025 was $6.7 million, a decrease of 33.9% compared to $10.2 million in Q3 2024[26]. - Electricity revenues increased to $126.6 million in Q3 2025, up 25.7% from $100.7 million in Q3 2024[26]. - Net income for the nine months ended September 2025 was $19,899,000, a decrease of 28.5% compared to $27,754,000 in 2024[28]. - Net cash provided by operating activities of continuing operations was $28,123,000, down 42.8% from $49,174,000 in the previous year[28]. - Adjusted EBITDA for the third quarter of 2025 was $10,500,000, a decrease of 32.3% compared to $15,500,000 in the third quarter of 2024[45]. - Non-GAAP net income attributable to Genie Energy Ltd. common stockholders for the third quarter of 2025 was $7,100,000, down 34.6% from $10,900,000 in the same quarter of 2024[46]. - Diluted earnings per share for the third quarter of 2025 was $0.26, compared to $0.38 in the third quarter of 2024, reflecting a decline of 31.6%[46]. Assets and Liabilities - The company reported a total of $394.1 million in assets as of September 30, 2025, compared to $371.3 million at the end of 2024[23]. - Current liabilities increased to $124.9 million as of September 30, 2025, from $109.8 million at the end of 2024[23]. - Cash and cash equivalents rose to $109.3 million as of September 30, 2025, compared to $104.5 million at the end of 2024[23]. - Total cash, cash equivalents, and restricted cash at the end of the period was $207,137,000, an increase of 7.9% from $193,097,000 in 2024[28]. Shareholder Returns - The company repurchased approximately 124,000 shares for $2.0 million during Q3 2025 and declared a quarterly dividend of $0.075 per share[6][9]. - The company declared dividends of $0.075 per common share for both Q3 2025 and Q3 2024[26]. Future Outlook - Genie Energy expects to achieve its annual guidance range of $40 million to $50 million in Adjusted EBITDA for the full year 2025, albeit at the low end of the range[7]. - The company is nearing the launch of its Lansing community solar project, expected to generate revenue in Q4 2025[4]. - The company anticipates continued growth in renewable energy solutions and market expansion in the upcoming quarters[20]. Operating Expenses and Investments - Operating expenses for Q3 2025 were $22.6 million, a decrease from $25.2 million in Q3 2024[26]. - Capital expenditures for the nine months ended September 2025 were $5,763,000, an increase of 43.3% compared to $4,025,000 in 2024[28]. - The company reported a net cash used in investing activities of $10,383,000, a decrease of 10.1% from $11,545,000 in the previous year[28]. - Stock-based compensation for the nine months ended September 2025 was $1,938,000, an increase of 12.5% from $1,723,000 in 2024[28]. - The company experienced a net loss from discontinued operations of $62,000, compared to a loss of $435,000 in the previous year[28].