Genie Energy Announces First Quarter 2025 Results

Core Insights - Genie Energy, Ltd. reported strong operational and financial results for Q1 2025, with significant increases in revenue, profitability, and cash generation compared to the same quarter last year [1][6]. Financial Performance - Total revenue increased by 14.3% to $136.8 million from $119.7 million in Q1 2024 [5][6]. - Gross profit rose by 10.6% to $37.4 million, while gross margin decreased to 27.3% from 28.2% [6]. - Income from operations increased by 30.3% to $12.8 million from $9.8 million [6]. - Adjusted EBITDA grew by 22.7% to $14.4 million from $11.7 million [6][30]. - Net income attributable to common stockholders was $10.6 million, up 30.9% from $8.1 million, with diluted EPS increasing to $0.40 from $0.30 [7][6]. Segment Performance Genie Retail Energy (GRE) - GRE's revenue increased by 17.8% to $132.5 million from $112.5 million, with income from operations rising by 18.2% to $16.8 million [8][6]. - The customer base expanded significantly, adding over 48,000 net new meters, totaling approximately 413,000 meters served [2][8]. Genie Renewables (GREW) - GREW's revenue decreased by 40.0% to $4.3 million from $7.2 million, primarily due to the exit from commercial-scale projects [11][6]. - Diversegy, Genie’s energy brokerage business, saw a revenue increase of 55% year-over-year, contributing significantly to GREW's revenues [11]. Shareholder Returns - The company repurchased approximately 127,000 shares for $1.9 million during Q1 2025 [6][3]. - A quarterly dividend of $0.075 per share will be paid on May 30, 2025, with a record date of May 19, 2025 [6][3]. Balance Sheet and Cash Flow - As of March 31, 2025, cash and cash equivalents, along with marketable equity securities, totaled $210.2 million [13][14]. - Cash flow from continuing operating activities increased to $13.5 million from $8.7 million in Q1 2024 [7][14].