Genie Energy(US:GNE)2025-03-10 13:42Financial 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 $15.3 million or $0.58 per share from $24.5 million or $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, contributing 83.5% of GRE's revenues [22][30] - GREW (Renewables) revenue for Q4 2024 decreased by 30.1% to $4.5 million, while full-year revenue increased by 16.1% to $21.9 million [23][31] - Diversegy, part of GREW, recorded a 70% revenue increase and a gross profit increase of 130%, generating over $750,000 in income from operations [13] Market Data and Key Metrics Changes - The company added 23,000 net new meters in Q4 2024 and over 60,000 for the full year, marking a nearly 17% increase [6] - Revenue from natural gas sales increased by 7.5% in Q4 2024 to $16.2 million, reflecting growth in both gas meter base and revenue per Therm sold [22] Company Strategy and Development Direction - The company plans to continue building its meter book in 2025, with a focus on the Texas dynamic electricity market and natural gas in California [8] - Genie Solar has completed its strategic migration to utility-scale project verticals, aiming to capture long-term residual value from power generated [14] - The company intends to use asset-backed finance deals to monetize operational raises and boost returns on equity [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving strong adjusted EBITDA and profitability in 2025, with expectations to continue cash reserve growth and stock buybacks [18] - The management highlighted the operational and financial performance in 2024 as consistent with expectations, setting the stage for better performance in 2025 [21][38] Other Important Information - The company repurchased approximately 168,000 shares in Q4 2024 for $2.5 million and a total of 661,000 shares for $10.4 million throughout the 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 Question: No questions were raised during the Q&A session - The conference call concluded without any questions from participants [39]