Welcome to our dedicated page for Genie Energy news (Ticker: GNE), a resource for investors and traders seeking the latest updates and insights on Genie Energy stock.
Genie Energy Ltd (GNE) delivers electricity, natural gas, and renewable energy solutions across U.S. markets through its Genie Retail Energy and Genie Renewables segments. This page provides investors and industry stakeholders with verified updates on corporate developments, strategic initiatives, and operational milestones.
Access official press releases covering quarterly earnings, solar energy projects, regulatory updates, and partnerships. All content is sourced directly from the company to ensure accuracy and compliance with financial disclosure standards.
Key focus areas include retail energy market expansions, solar panel manufacturing advancements, and clean fuel technology research. Bookmark this page to stay informed about GNE’s dual commitment to conventional energy reliability and sustainable innovation.
Genie Energy, Ltd. (NYSE: GNE, GNE.PRA) reported strong Q2 2021 results, achieving revenue of $97.7 million, up 28.4% year-over-year. Net income attributable to common stockholders surged to $5.0 million or $0.19 per share, boosted by a gain from the sale of Japanese operations. Despite these gains, gross profit decreased to $23.8 million, with a gross margin of 24.3%. The company is exploring a potential spin-off of its international division to enhance growth. Key metrics include 436 Retail Customer Equivalents, and cash flow from operations fell by 75% to $4.1 million.
Genie Energy Ltd. (NYSE: GNE, GNEPRA) will announce its Q2 2021 financial and operational results on August 5, 2021, at 7:30 AM Eastern. The results will be shared via a wire service and posted on their Investors section. Following this, a conference call will occur at 8:30 AM to discuss the results and strategy, featuring a Q&A session. Participants can dial 1-877-545-0320 (US) or 1-973-528-0016 (international) to join. A replay will be available until August 19, 2021.
Genie Energy Ltd. (NYSE: GNE, GNEPRA) reported record revenue of $135.3 million in 1Q21, a 30.1% increase from 1Q20, but faced a loss per diluted share of $0.09. The company added 49,000 Retail Customer Energy (RCE) accounts, a growth of 12.1% year-over-year, totaling 450,000 RCEs. However, the impact of severe winter storms resulted in a $13 million operational loss primarily affecting its Genie Retail Energy segment. Consolidated Adjusted EBITDA was negative $4.5 million, a significant drop from $10.3 million in 1Q20.
Genie Energy Ltd. (NYSE: GNE, GNEPRA) will publish its Q1 2021 financial results on May 6, 2021, at 7:30 AM Eastern Time. An earnings release will be issued via wire and posted on their website. A conference call will follow at 8:30 AM to discuss results, outlook, and strategies, with a Q&A session afterward. Participants can join the call by dialing 1-800-945-8198. A replay will be available until May 13, 2021.
Genie Solar Energy, a subsidiary of Genie Energy, installed two rooftop solar systems totaling 572 kW for INTEGRA Biosciences in New Hampshire. These installations will produce enough power to offset 844,000 kWh, equivalent to the annual usage of 96 homes, and will eliminate CO2 emissions comparable to burning over 14 million pounds of coal over 25 years. The project supports INTEGRA's sustainability goals, while leveraging advanced Prism Solar bifacial panels to maximize energy efficiency.
Genie Energy Ltd. (NYSE: GNE, GNE.PRA) reported a Q4 2020 loss of $0.06 per diluted share on revenue of $102.9 million, a 25.5% increase from Q4 2019. Full-year 2020 revenue hit $379.3 million, up 20.3%. Despite record earnings per share of $0.44, the company reported a consolidated loss from operations of $1.1 million in Q4 2020. Operations in Texas faced significant challenges due to Winter Storm Uri, expected to cost approximately $12.8 million. The company has suspended its common stock dividend and is refocusing on its U.S. retail energy business.
Genie Energy (NYSE: GNE, GNE.PRA) reported an estimated $12.5 million loss due to Winter Storm Uri, which disrupted Texas' electricity market in February 2021. The storm caused an unprecedented spike in electricity demand, leading to wholesale prices reaching maximum levels. Complete supply costs are not available yet, making the final loss uncertain. Genie Energy serves about 10,000 electricity meters in ERCOT's service area, representing 5% of its global customer base. Despite these challenges, the company maintains sufficient liquidity to manage its operations.
Genie Energy Ltd. (NYSE: GNE, GNE.PRA) will announce its financial results for Q4 and full year 2020 on March 11, 2021, via a press release at 7:30 AM Eastern Time. A conference call will follow at 8:30 AM for management to discuss the results and future strategy. Interested parties can join by dialing 1-888-348-6472 (US) or 1-412-902-4240 (international). A replay will be available until March 18, 2021. Genie Energy provides energy services across the US, Europe, and Asia.
Genie Energy (NYSE: GNE, GNE.PRA) reported it continues to provide stable electricity rates to 10,000 customers in Texas, despite last week’s severe price volatility in the electricity market. CEO Michael Stein highlighted the company's effective risk management strategy that mitigated financial impacts. While real-time costs surged over 100 times the rates charged, the company upheld its fixed-rate agreements. Genie Energy estimates that the financial impact from the weather event will be modest for Q1 2021. A full assessment will be provided in the upcoming quarterly results.
Genie Solar Energy has successfully completed a 57.5 kW rooftop solar installation for Kraft Power at its Pompton Plains, NJ facility. This project will allow Kraft to offset up to 100% of its electricity consumption, equivalent to the CO2 emissions of burning over 447,960 pounds of coal. The installation utilizes American-made solar panels and is expected to significantly reduce electricity costs. Genie Energy Ltd. aims to maximize the return on investment through tailored energy solutions, ensuring economic efficiency and sustainability for clients.
