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 (GNE, GNE.PRA) reported strong Q3 2021 results with revenue up 17.5% to $113.2 million and gross profit soaring by 55.1% to $42.4 million. Adjusted EBITDA increased 58.5% to $15.0 million, driven by robust demand in U.S. and Scandinavian markets. However, the company faced a net loss of $2.7 million and a diluted loss per share of $0.10, primarily due to a $16.4 million loss from its exit from the U.K. market, which it anticipates will not incur further negative cash impacts. Genie’s strategic focus on high-margin customers is expected to enhance future profitability.
Genie Energy Ltd. (NYSE: GNE, GNE.PRA) will announce its third quarter 2021 financial and operational results on November 4, 2021, at 7:30 AM Eastern. The results will be posted on the company’s website and issued via a wire service. Following this, a conference call will take place at 8:30 AM, with management discussing the results and outlook. Investors can join the call by dialing specific numbers provided in the release. A replay of the call will be available until November 18, 2021.
Genie Energy Ltd (NYSE: GNE, GNE.PRA) has announced the suspension of its planned public offering and spin-off of its European retail energy supply business, Oriel Energy, due to extreme volatility in the UK's energy markets. CEO Michael Stein noted that this unpredictability has impacted independent suppliers like their UK subsidiary, Orbit Energy, which serves around 119,000 meters. The company plans to exit the UK market while focusing on expanding in Scandinavia and the US, anticipating a positive impact on its bottom line as it halts new meter acquisitions in the UK.
Genie Energy Ltd. (NYSE: GNE, GNEPRA) announced its participation in the Sidoti Fall Virtual Investor Conference on September 23, 2021, where CFO Avi Goldin will present at 10:45 a.m. Eastern time. CEO Michael Stein and Mr. Goldin will also hold one-on-one investor meetings on September 22 and 23. The company is preparing to spin-off its European retail energy supply business, Oriel Energy, with an SEC Form S-1 filed earlier today. The presentation will be accessible live through the Genie Energy Investor Relations website.
Diversegy, a division of Genie Energy (NYSE: GNE; GNEPRA), is set to launch a comprehensive energy sales platform on October 5, 2021. This platform aims to support sales partners in providing low-cost energy solutions to commercial customers. It will offer access to pricing from over 60 energy suppliers and enable real-time pricing and custom quotes. CEO Michael Stein emphasized the platform's potential to leverage the company's extensive market expertise, while the Executive Vice President, Tzvi Zupnik, highlighted its user-friendly features for agents and partners.
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.
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