Genie Energy(US:GNE)2025-03-10 18:50Financial Data and Key Metrics Changes - Consolidated revenue for Q4 2024 decreased by 1.9% to $102.9 million, while full-year revenue for 2024 decreased by 0.8% to $425.2 million [22][30] - Consolidated gross profit for Q4 2024 was $33.5 million, slightly down from $33.6 million in the previous year, with a gross margin increase of 40 basis points to 32.5% [24] - Consolidated adjusted EBITDA for Q4 2024 decreased by 2.8% to $11.1 million, while full-year adjusted EBITDA was at the upper end of guidance at $48.5 million, down from $58.2 million in 2023 [27][32] - Consolidated net loss attributable to common shareholders decreased to $0.58 per share from $0.90 per share a year earlier [29] Business Line Data and Key Metrics Changes - GRE (Retail Energy) revenue remained unchanged at $98.4 million, with electricity revenue also flat at $82.1 million, while natural gas revenue increased by 7.5% to $16.2 million [22][23] - GREW (Renewables) revenue for Q4 2024 decreased by 30.1% to $4.5 million, but full-year revenue increased by 16.1% to $21.9 million [23][31] - GRE's income from operations decreased by 15.9% to $12.6 million, while GREW's loss from operations improved to $700,000 from $1.3 million [27][28] Market Data and Key Metrics Changes - The company added 23,000 net new meters in Q4 2024, totaling over 60,000 for the full year, representing an increase of nearly 17% [6] - The company is expanding its operations in Texas and California, highlighting growth opportunities across 19 states plus the District of Columbia [8] Company Strategy and Development Direction - The company plans to continue building its meter book in 2025 and has shifted its focus to utility-scale solar projects [8][15] - GREW is investing in early-stage growth initiatives, including Roded, an environmental tech recycling business, which is expected to scale operations in Israel [10][11] - The company aims to maximize cash on its balance sheet while driving growth through structured asset-backed finance deals [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving strong adjusted EBITDA and profitability in 2025, despite the challenges faced in 2024 [17][18] - The company anticipates continued growth in both its retail and renewables segments, with a focus on improving operational efficiencies [16][18] Other Important Information - The company repurchased approximately 168,000 shares in Q4 2024 for $2.5 million and paid out $8.2 million in dividends for the full year [37] - Cash and cash equivalents totaled $201 million at the end of 2024, an increase of $37.6 million over the year [36] Q&A Session Summary - There were no questions during the Q&A session, and the conference call concluded without any inquiries from participants [39]