CALGARY, Alberta, June 11, 2025 (GLOBE NEWSWIRE) -- Direct Energy and the Alberta Weekly Newspapers Association (AWNA) are proud to announce Abbie and Glen Warren, Daniel Lauper and Peter O’Brien as the recipients of the 2025 Direct Energy Volunteer Citizen of the Year Award. In recognition of their outstanding community service, Direct Energy has donated $5,000 to each recipient’s chosen nonprofit organization. “At the heart of every strong community are people who give selflessly—supporting their neighbou ...

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].

Genie Energy (GNE) Q1 2025 Earnings Call May 06, 2025 08:30 AM ET Company Participants Michael Stein - CEOAvi Goldin - CFO Operator Good morning, and welcome to the Energy Limited's First Quarter twenty twenty five Earnings Call. In today's presentation, Genie Energy management will discuss Genie's financial and operational results for the three month period ended 03/31/2025. During prepared remarks by Genie Energy's Chief Executive Officer, Michael Stein and Chief Financial Officer, Avi Golden, all partici ...

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]

Newark, NJ, May 06, 2025 (GLOBE NEWSWIRE) -- Genie Energy, Ltd. (NYSE: GNE), a leading retail energy and renewable energy solutions provider, today announced results for the first quarter of 2025.  Michael Stein, Chief Executive Officer of Genie Energy, commented:  "Our first quarter featured strong operational and financial results, highlighted by robust increases in revenue, profitability and cash generation compared to the year ago quarter. "At GRE, the significant investments we made in 2024 to expand o ...

Genie Energy Ltd. (NYSE:GNE) Q4 2024 Earnings Conference Call March 10, 2025 8:30 AM ET Company Participants Michael Stein - CEO Avi Goldin - CFO Conference Call Participants Operator Good day, and welcome to the Genie Energy Limited's Fourth Quarter and Full-Year 2024 Earnings Call. In today's presentation Genie Energy management will discuss Genie's financial and operational results for the three month and 12-month period ended December 31, 2024. During prepared remarks by Genie Energy's Chief Executive O ...