Genie Energy Stock Price, News & Analysis
Company Description
Genie Energy Ltd. (NYSE: GNE) is described in its public disclosures as a retail energy and renewable energy solutions provider. According to its earnings releases, the company operates through two primary divisions: Genie Retail Energy (GRE) and Genie Renewables (GREW). GRE supplies electricity, including electricity from renewable resources, and natural gas to residential and small business customers in the United States, while GREW focuses on solar generation and energy advisory activities.
Business Segments and Operations
The Genie Retail Energy division resells electricity and natural gas to a retail customer base in the U.S. Earnings releases describe GRE as serving residential and small business customers and tracking its activity using retail customer equivalents (RCEs) and meters. GRE’s revenue is broken out between electricity and natural gas sales in the company’s segment reporting.
The Genie Renewables division, referred to as GREW, holds interests in businesses involved in solar energy and energy procurement. Company releases state that GREW includes Genie Solar, described as a vertically integrated provider of community and utility-scale solar energy solutions, and Diversegy, described as an energy procurement advisor and energy brokerage business. GREW’s activities include an operating portfolio and development pipeline of solar generation projects as well as advisory and brokerage services.
Renewable Energy Activities
Within GREW, Genie Solar is reported to develop, own, and operate solar generation projects. Company updates describe a portfolio and pipeline of solar arrays measured in megawatts, including community and utility-scale projects. Disclosures note that Genie Solar has exited certain commercial-scale project development activities and has emphasized utility-scale projects and community solar, with specific reference to a community solar project in Lansing, New York and arrays serving educational facilities in Midwestern states through fixed-price power purchase agreements.
The company’s releases also reference a development pipeline with projects at various stages, including site control, permitting, construction, and operational status. These details are presented in tabular form in the financial and operational updates and illustrate how GREW tracks its solar generation business.
Energy Advisory and Brokerage
Diversegy, identified as part of the Genie Renewables division, is described as an energy procurement advisor and energy brokerage business. In multiple quarterly updates, Genie Energy reports revenue growth at Diversegy and notes that it contributes a significant portion of GREW’s segment revenues. The company highlights Diversegy’s role within GREW when discussing segment performance and Adjusted EBITDA.
Corporate and Regulatory Context
Genie Energy Ltd. is incorporated in Delaware, as indicated in its Form 8-K filings, and its Class B common stock trades on the New York Stock Exchange under the symbol GNE. The company files periodic and current reports with the U.S. Securities and Exchange Commission, including Forms 10-K, 10-Q, and 8-K. Recent 8-K filings reference the reporting of quarterly financial results and changes in the company’s independent registered public accounting firm.
In its public communications, Genie Energy frequently refers to non-GAAP measures such as Adjusted EBITDA and non-GAAP net income attributable to common stockholders, and it provides reconciliations to the most directly comparable GAAP measures in its earnings materials. The company also notes that certain operations of Genie Retail Energy International (GREI) have been classified as discontinued operations in its financial reporting.
Insurance and Risk Management Initiatives
Genie Energy has disclosed an initiative to expand its consumer products portfolio with insurance offerings and has formed a wholly owned captive self-insurance subsidiary. According to a company update, this captive is intended to enhance the company’s risk management strategy. The company has reported securing insurance broker licenses in several states and offering third-party insurance solutions through existing sales channels to its customer base. Related disclosures describe premium payments to the captive, associated non-cash insurance loss reserves under GAAP, and the treatment of these amounts as restricted cash and other assets on the consolidated balance sheet.
Financing and Capital Allocation
In its public releases, Genie Energy describes the use of project financing for solar generation assets within Genie Renewables. One disclosed transaction is a fixed-rate term loan secured on a portfolio of operating solar arrays that provide power to educational facilities under power purchase agreements. The company states that such financing is part of its approach to supporting its solar generation strategy.
Genie Energy also reports capital allocation decisions including share repurchases of its Class B common stock and the payment of regular quarterly dividends to Class A and Class B common stockholders. These actions are summarized in the company’s quarterly and annual results announcements.
Earnings Communication and Guidance
The company regularly issues earnings releases and hosts conference calls to discuss financial and operational results, business outlook, and strategy. These calls are announced in advance via press releases and are followed by replays made available for a limited period. In its communications, Genie Energy provides guidance ranges for Adjusted EBITDA and discusses factors affecting segment performance, such as wholesale commodity prices, weather-related consumption patterns, and changes in federal energy policy relevant to solar investment tax credits.
FAQs About Genie Energy Ltd. (GNE)
- What does Genie Energy Ltd. do?
According to its public disclosures, Genie Energy Ltd. is a retail energy and renewable energy solutions provider. Its Genie Retail Energy division supplies electricity, including electricity from renewable resources, and natural gas to residential and small business customers in the United States, while its Genie Renewables division focuses on solar generation and energy advisory activities.
- What are Genie Energy’s main business divisions?
The company reports two primary divisions: Genie Retail Energy (GRE) and Genie Renewables (GREW). GRE is focused on retail electricity and natural gas supply, and GREW includes Genie Solar and Diversegy, which are involved in solar energy projects and energy procurement advisory services.
- Where does Genie Energy operate?
Company earnings releases describe Genie Retail Energy as supplying electricity and natural gas to residential and small business customers in the United States. Genie Renewables’ solar arrays are reported to serve educational facilities in Midwestern states, and its community solar project development includes a project in Lansing, New York.
- What is Genie Solar?
Genie Solar is part of the Genie Renewables division and is described as a vertically integrated provider of community and utility-scale solar energy solutions. Public updates reference an operating portfolio and development pipeline of solar projects at various stages, including site control, permitting, construction, and operation.
- What is Diversegy?
Diversegy is identified in company releases as an energy procurement advisor and energy brokerage business within the Genie Renewables division. Genie Energy reports that Diversegy has generated significant revenue growth and that it contributes a substantial portion of GREW’s segment revenues.
- On which exchange is Genie Energy stock listed?
According to recent Form 8-K filings, Genie Energy Ltd.’s Class B common stock is listed on the New York Stock Exchange under the trading symbol GNE.
- How does Genie Energy describe its financial reporting measures?
In its earnings materials, Genie Energy presents GAAP results and also uses non-GAAP measures such as Adjusted EBITDA and non-GAAP net income attributable to common stockholders. The company states that these measures are intended to supplement its core operating results and provides reconciliations to comparable GAAP metrics.
- What is Genie Energy’s captive insurance initiative?
Genie Energy has formed a wholly owned captive self-insurance subsidiary as part of an initiative to expand its consumer products portfolio with insurance offerings and to enhance its risk management strategy. The company reports paying premiums to this captive, recording related non-cash insurance loss reserves under GAAP, and retaining the associated funds as restricted cash and other assets on its consolidated balance sheet.
- How does Genie Energy communicate with investors?
The company issues press releases to announce quarterly and annual financial results and files related current reports on Form 8-K. It also hosts conference calls to discuss results, business outlook, and strategy, and makes call replays available for a limited time.
- What regulatory filings does Genie Energy make?
As a public company with securities registered under Section 12(b) of the Exchange Act, Genie Energy files periodic reports such as Forms 10-K and 10-Q and current reports on Form 8-K with the U.S. Securities and Exchange Commission. Recent 8-K filings have covered quarterly earnings announcements and a change in the company’s independent registered public accounting firm.