Core Insights - Genie Energy reported a record third quarter revenue of $138.3 million, representing a 23.6% increase from $111.9 million in the same quarter last year, driven by higher electricity consumption and rising commodity prices [6][8][24] - Despite the revenue growth, the company faced challenges with a decrease in gross profit and margins due to increased commodity costs, leading to a decline in net income and Adjusted EBITDA [6][9][12] Financial Performance - Revenue increased by 23.6% to $138.3 million from $111.9 million [6][8] - Gross profit decreased by 20.8% to $30.0 million from $37.9 million, with gross margin falling to 21.7% from 33.9% [6][8] - Income from operations dropped to $6.9 million from $11.7 million, a decrease of 40.6% [6][8] - Adjusted EBITDA fell to $8.2 million from $13.6 million, a decline of 39.5% [6][8] - Net income attributable to common stockholders decreased to $6.7 million, or $0.26 per diluted share, compared to $10.2 million, or $0.38 per diluted share in the prior year [6][8][24] Segment Performance - Genie Retail Energy (GRE) saw a revenue increase of 25.1% to $132.4 million, but income from operations decreased by 32.4% to $10.2 million due to rising commodity costs [9][12] - The electricity customer base grew to approximately 318,000 RCEs, a year-over-year increase of 5.4%, while total RCEs increased by 4.2% to 396,000 [2][11] - Genie Renewables (GREW) reported a slight revenue decrease of 2.7% to $6.0 million, impacted by a strategic shift away from commercial project development [12][19] Shareholder Returns - The company repurchased approximately 124,000 shares for $2.0 million during the third quarter and declared a quarterly dividend of $0.075 per share [5][6] - Cash and cash equivalents, along with marketable securities, totaled $206.6 million as of September 30, 2025 [14][24] Future Outlook - The company anticipates a gradual improvement in GRE's margin environment in the fourth quarter and into 2026, with an expected Adjusted EBITDA range of $40 million to $50 million for the full year 2025 [6][12]

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].