Genie Energy Ltd Stock Price, News & Analysis

Genie Energy Ltd. (NYSE: GNE, GNE.PRA) has revised its presentation time at the Sidoti May Virtual MicroCap Conference. CFO Avi Goldin will present on Thursday, May 12, 2022, at 10:45 a.m. ET. Additionally, Goldin and CEO Michael Stein will conduct one-on-one meetings with investors on May 11 and 12. Interested parties can register for the webcast and meetings through the Sidoti conference portal or by contacting Brian Siegel from Hayden IR.

Genie Energy is a leading provider of energy solutions, supplying electricity and natural gas to residential and commercial customers.

On May 9, 2022, Genie Energy reported a record gross profit of $45.5 million and a gross margin of 46.2% for Q1 2022. Despite a 8.3% revenue decline to $98.5 million, net income attributable to shareholders reached $17.5 million, with diluted EPS at $0.67. The company highlighted strong performance from its Genie Retail Energy division, generating significant cash flows and adjusted EBITDA of $25.7 million. Genie plans to use its solid cash position for future growth opportunities.

Genie Energy Ltd. (NYSE: GNE, GNE.PRA) will present at the Sidoti May Virtual MicroCap Conference on May 11-12, 2022. Avi Goldin, CFO, will speak on May 11 at 10:45 a.m. ET. One-on-one meetings with investors will also be held during the conference. Genie Energy is a global energy services provider, focusing on electricity and natural gas supply, including renewable resources, primarily in the U.S. Their divisions also include Genie Solar Energy and Diversegy.

Genie Energy Ltd. (NYSE: GNE, GNEPRA) will release its financial and operational results for Q1 2022 on May 9, 2022, at 7:30 AM Eastern. The results will be disseminated via a wire service and available on the company's website. Following this, at 8:30 AM, management will host a conference call to discuss the results, business outlook, and strategy, allowing for a Q&A session. Participants can join the call by dialing specific numbers provided in the release. A replay of the call will be accessible until May 23, 2022.

The board of directors of Genie Energy Ltd (NYSE: GNE, GNEPRA) has declared a cash dividend of $0.2442 per share of the Series 2012-A Preferred Stock for Q1 2022. This includes a Base Dividend of $0.1594 and an Additional Dividend of $0.0848, related to the company's REP business performance through December 31, 2021. The dividend payment will occur on or about May 16, 2022, to shareholders of record as of May 6, 2022. The distribution is classified as an ordinary dividend for tax purposes.

Genie Energy, Ltd. (NYSE: GNE, GNEPRA) announced its fourth quarter and full-year results for 2021, reporting a 5.3% revenue increase to $84.7 million and a significant gross profit surge of 53% to $29.6 million. The company achieved a gross margin expansion of 900 basis points in its U.S. retail segment, driven by strategic risk management. Notably, international revenue grew by 63%, and the renewables segment saw a 26% rise in gross profit. The company reinstated its quarterly dividend, yielding approximately 5%. Overall, 2021 was a successful year with a strong balance sheet and positive outlook for 2022.

Genie Energy Ltd. (NYSE: GNE, GNEPRA) will announce its financial and operational results for the fourth quarter and full-year 2021 on March 10, 2022, at 7:30 AM Eastern.

The earnings release will be available on their website and filed with the SEC. A conference call will follow at 8:30 AM, where management will discuss results and future strategies. Participation can be done via phone using specific access codes. A replay will be available until March 17, 2022.

Genie Energy Ltd. (NYSE: GNE, GNEPRA) announced a cash dividend of $0.075 per share for the fourth quarter of 2021, set to be paid on March 1, 2022, to stockholders of record by February 22, 2022. This marks the resumption of their regular dividend after a one-year suspension due to financial impacts from Winter Storm Uri. Additionally, the company plans to gradually repurchase its Series 2012-A Preferred Stock, authorizing up to $1.0 million per quarter. These steps highlight Genie Energy's solid operational results and strengthened balance sheet.

Genie Energy Ltd. (NYSE: GNE, GNE.PRA) announced a 20% increase in its customer base through its renewable electricity supply subsidiary, Lumo Energia Oyj. This expansion follows Lumo's acquisition of meters from the defunct Finnish energy provider, Energia 247, adding approximately 11,000 new customers. Lumo will provide electricity sourced entirely from renewable resources. CEO Michael Stein stated Lumo is well-positioned amid market volatility and consolidation in the retail supply industry.