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 (NYSE: GNE, GNEPRA) has acquired the rights to a community solar generation site in Upstate New York, targeting an output of approximately 6.25 megawatts (MW). The project follows obtaining a favorable CESIR, indicating a positive outcome for interconnection costs from Con-Ed for another planned 3 MW project in Downstate New York. The company plans to commence construction pending local permits and land lease negotiations. CEO Michael Stein emphasized the importance of community solar in reducing carbon emissions and highlighted increased project demand and economic viability driving growth.
Genie Energy Ltd. (NYSE: GNE, GNEPRA) announced that CFO Avi Goldin will present at the Sidoti March Small-Cap Virtual Conference on March 23, 2023, at 9:15 a.m. Eastern Time. The presentation will highlight Genie Energy's strategy, outlook, and results. Interested participants can access the live presentation via the provided link. Additionally, Genie management is available for one-on-one virtual investor meetings on March 22 and 23. Genie Energy specializes in supplying electricity and natural gas, including renewable options, to residential and small business customers in the U.S. and Scandinavia.
Genie Energy, Ltd. (NYSE: GNE, GNE.PRA) reported a strong financial performance for Q4 and full-year 2022. Q4 operating income surged 167% year-over-year to $15.5 million, with revenue up 17.6% to $81.4 million. Full-year operating income reached a record $77.8 million, and adjusted EBITDA was $83.2 million. The company experienced growth in its retail energy segment, strategically reducing customer acquisition during volatile pricing to bolster financial results. Genie Renewables also made strides with significant revenue growth and advancements in solar projects, while maintaining its dividend payments and simplifying capital structure by redeeming $8.4 million of preferred stock.
Genie Energy Ltd. (NYSE: GNE, GNEPRA) will release its fourth quarter and full year 2022 financial and operational results on March 13, 2023, at 7:30 AM Eastern Time. The earnings release will be available via a wire service and on the company's Investors webpage. A conference call with management will follow at 8:30 AM to discuss results and future strategies. Investors can join the call by dialing specified numbers and using access codes. A replay will be available post-call until March 27, 2023, and will also be posted on their website.
Genie Energy Ltd. (NYSE: GNE, GNEPRA) announced that CFO Avi Goldin will present at the Third Annual Winter Wonderland - Best Ideas Investor Conference on February 21, 2023, at 10:30 a.m. ET. Investors can register for the event here. One-on-one meetings are scheduled for February 23 and 24, 2023. Genie Energy specializes in providing retail and renewable energy solutions, supplying electricity and natural gas to residential and small business customers in the U.S. The MicroCap Rodeo conference showcases the top 37 investment ideas, recommended by qualified institutional investors.
Montclair State University has signed a renewable energy agreement with ENGIE Resources LLC lasting through 2025. The deal allows the University to purchase Green-e™ certified Renewable Energy Credits (RECs) from various sustainable projects across the U.S. The RECs are expected to support CO2 emissions avoidance by over 7,600 metric tons and match 100% of the University’s retail electricity consumption. This initiative aligns with the University's sustainability objectives, enhancing its commitment to operational sustainability. Diversegy, a subsidiary of Genie Energy (NYSE: GNE), serves as the advisor for this agreement.
Genie Energy Ltd. (NYSE: GNE, GNE.PRA) announced it has received a notice to proceed for its first community solar project, a 4-megawatt farm in Upstate New York. This marks a significant step in the company's vertically-integrated solar strategy, with construction expected to start in Q1 2023, pending utility approvals. Additionally, Genie Solar anticipates an NTP for a second 6-megawatt project in early 2023. CEO Michael Stein highlighted the project’s environmental benefits and the economic advantages of community solar, asserting the company is well-positioned to manage all aspects of project development.
On December 1, 2022, Genie Energy Ltd. (NYSE: GNE, GNE.PRA) announced that its CFO, Avi Goldin, will present at the Sidoti December Small-Cap Virtual Conference on December 8 at 10:00 AM ET. The presentation will cover the company’s strategy, outlook, and results. Additionally, CEO Michael Stein and Goldin will hold virtual one-on-one investor meetings on December 7 and December 8. Interested parties can contact Brian Siegel at HaydenIR for arrangements. More details are available on the Genie Energy website.
On November 30, 2022, Genie Energy Ltd. (NYSE: GNE, GNEPRA) announced the acquisition of a portfolio of residential and small commercial customer contracts from Mega Energy, covering approximately 11,000 meters across seven states. CEO Michael Stein noted that favorable market conditions allow for portfolio expansion, leveraging Genie’s strong balance sheet and cash reserves. The acquisition is expected to be immediately accretive and will enhance service offerings to customers. The terms of the deal have not been disclosed.
Genie Energy reported strong financial results for Q3 2022, highlighting record gross profit of $43.1 million and net income of $18.3 million, translating to diluted EPS of $0.70. Despite a 7.3% revenue decline to $81.3 million, the company achieved a significant 24.7% increase in gross profit, driven primarily by strength in its Genie Retail Energy segment. Genie also redeemed $1 million in preferred stock and announced a $0.075 dividend for shareholders. Furthermore, the company acquired rights for 64MW of solar projects, signaling expansion in the renewable sector.
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