Genie Energy Ltd (N:GNE)
Business Focus: Electric Utilities
| Sector: Utilities | Industry: Electric Utilities |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 520 Broad Street NEWARK NJ 07012 |
| Tel: | N/A |
| Website: | https://genie.com |
| IR: | See website |
| Key People | ||
| Howard S. Jonas Chairman of the Board | Michael Ashley Stein Chief Executive Officer | Avraham E. Goldin Chief Financial Officer | Joyce J. Mason Corporate Secretary, Director |
| Business Overview |
| Genie Energy Ltd. is a retail energy and renewable energy solutions provider. The Company has two segments: Genie Retail Energy (GRE) and Genie Renewables. GRE segment supplies electricity and natural gas to residential and small business customers through retail energy providers (REPs) operating in certain deregulated markets within the United States. GRE owns and operates REPs, including IDT Energy, Inc., Residents Energy, LLC, Town Square Energy, LLC and others. The Genie Renewables division is a vertically integrated provider of commercial, community, and utility-scale solar energy solutions. The segment includes three lines of businesses: Genie Solar, which is an integrated solar energy company that develops, constructs and operates solar energy projects for commercial and industrial (C&I) customers, as well as its own portfolio; CityCom Solar, which markets community solar energy solutions, and Diversegy LLC, which provides energy brokerage and advisory services to C&I customers. |
| Financial Overview |
| For the three months ended 31 March 2024, Genie Energy Ltd revenues increased 14% to $119.7M. Net income applicable to common stockholders excluding extraordinary items decreased 25% to $8.4M. Revenues reflect GRE segment increase of 11% to $112.5M, Genie Renewables segment increase of 87% to $7.2M. Net income was offset by GRE segment income decrease of 13% to $14.2M. |
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