Genie Energy (NYSE:GNE – Get Free Report) issued its earnings results on Thursday. The oil and gas producer reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.18, FiscalAI reports. Genie Energy had a net margin of 4.95% and a return on equity of 13.00%. The business had revenue of $100.40 million for the quarter, compared to the consensus estimate of $104.57 million.
Here are the key takeaways from Genie Energy’s conference call:
- Strong earnings improvement: Second-quarter net income rose to $11.4 million, or $0.42 per diluted share, from $2.3 million, or $0.09, a year earlier. Adjusted EBITDA increased $4.5 million to $7.5 million.
- Normalized wholesale energy markets restored Genie Retail Energy’s gross margin to its historical range, driving a 42% increase in gross profit and a 97% increase in Adjusted EBITDA despite a 5% revenue decline.
- GRE’s customer base contracted to 345,000 RCEs and 363,000 meters, partly due to the expiration of low-margin aggregation deals. The company increased spending on higher-cost acquisition channels, which management believes will produce higher-lifetime-value customers and support future results.
- Genie’s GREW segment reached positive EBITDA, supported by strong performance at Diversegy and Genie Solar. Diversegy is expanding its book of business at a double-digit annualized rate, while a second New York community solar project began contributing in the third quarter.
- Roded expanded Israeli pallet production, received government backing for a larger plant, earned certification to monetize plastic credits, and advanced plans for a southeastern U.S. manufacturing site. Management also expects to diversify into additional recycled-plastic products.
Genie Energy Price Performance
Shares of NYSE:GNE traded down $0.21 on Friday, reaching $14.53. 62,395 shares of the company were exchanged, compared to its average volume of 74,474. The company has a 50-day moving average of $14.19 and a 200-day moving average of $14.12. The company has a current ratio of 2.54, a quick ratio of 2.44 and a debt-to-equity ratio of 0.03. The firm has a market cap of $383.59 million, a price-to-earnings ratio of 29.65 and a beta of 0.20. Genie Energy has a 1-year low of $12.69 and a 1-year high of $16.60.
Genie Energy Announces Dividend
Wall Street Analysts Forecast Growth
GNE has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of Genie Energy from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Freedom Capital upgraded Genie Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Finally, Weiss Ratings upgraded Genie Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Genie Energy currently has an average rating of “Buy”.
View Our Latest Research Report on Genie Energy
Institutional Trading of Genie Energy
A number of institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP increased its position in Genie Energy by 1.6% during the fourth quarter. First Trust Advisors LP now owns 66,180 shares of the oil and gas producer’s stock worth $912,000 after buying an additional 1,049 shares in the last quarter. Quarry LP purchased a new stake in shares of Genie Energy in the third quarter valued at $35,000. Barclays PLC lifted its position in shares of Genie Energy by 4.8% in the fourth quarter. Barclays PLC now owns 53,586 shares of the oil and gas producer’s stock valued at $738,000 after acquiring an additional 2,464 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Genie Energy by 12.9% during the fourth quarter. Invesco Ltd. now owns 32,693 shares of the oil and gas producer’s stock valued at $451,000 after acquiring an additional 3,727 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Genie Energy by 98.3% during the second quarter. New York State Common Retirement Fund now owns 7,667 shares of the oil and gas producer’s stock valued at $206,000 after acquiring an additional 3,800 shares during the last quarter. Hedge funds and other institutional investors own 49.15% of the company’s stock.
About Genie Energy
Genie Energy Ltd. (NYSE: GNE) is a diversified energy holding company that operates through two primary segments: upstream oil and natural gas exploration and retail energy supply. Its exploration arm, Genie Energy E&P, pursues development of oil shale resources and conventional hydrocarbon deposits, holding licenses for projects in regions such as Israel’s Shefela basin and Jordan’s oil shale formations. The division also explores select opportunities in North America, leveraging technical partnerships to advance resource evaluation and pilot production programs.
Genie Retail Energy provides electricity and natural gas to residential and small commercial customers under regulated and deregulated frameworks.
Read More
- Five stocks we like better than Genie Energy
- Quantum Earnings Week: Winners and Losers Are Finally Emerging
- Axon’s Post-Earnings Pullback May Be More About Valuation Than Growth
- Uber Stock Lags in 2026, But Cash Flow and AV Bets Fuel Upside
- AppLovin Stock Hits 52-Week Low as Analysts Trim Targets, Stay Bullish
Receive News & Ratings for Genie Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genie Energy and related companies with MarketBeat.com's FREE daily email newsletter.
