Genie Energy Ltd., through its subsidiaries, supplies electricity and natural gas to residential and small business customers in the United States, Europe, and Asia. The company operates in three segments: Genie Retail Energy (GRE); GRE International; and Genie Energy Services. It resells electricity and natural gas to residential and small business customers primarily in the Eastern and Midwestern United States, as well as in the United Kingdom, Japan, and Finland. The company also engages in the provision of energy advisory and brokerage services; and solar panel manufacturing, and solar installation design, and project management activities. In addition, it provides contracted drilling services. Genie Energy Ltd. is headquartered in Newark, New Jersey.
IPO Year: 2011
Exchange: NYSE
Website: genie.com
NEWARK, NJ , Dec. 05, 2024 (GLOBE NEWSWIRE) -- Genie Energy, Ltd. (NYSE:GNE), a leading retail energy and renewable energy solutions provider, today provided an update on its consumer insurance initiative. Earlier his year, the company announced an initiative to expand its consumer products portfolio with insurance offerings, and formed a wholly-owned, "captive" self-insurance subsidiary to enhance the Company's risk management strategy. "To date, we have secured insurance broker licenses in seven key states and begun to offer third-party insurance solutions through our existing sales channels to our customer base," said Genie's CEO, Michael Stein. "We expect the economics of our offerin
NEWARK, NJ, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Genie Energy Ltd., (NYSE:GNE), a retail energy and renewable energy solutions provider, today announced that it has closed on a loan financing on a portfolio of operating solar generation assets. The $7.4 million fixed rate term loan secured through National Cooperative Bank (NCB) provides project financing for a solar array portfolio rated for an aggregate 10MW. The arrays, which Genie purchased through its Sunlight Energy subsidiary during the past year, provide power to educational facilities in three Midwestern states through direct fixed-price solar power purchase agreements (PPAs). Michael Stein, CEO of Genie Energy, commented, "I am ve
Newark, NJ, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Genie Energy, Ltd. (NYSE:GNE), a leading retail energy and renewable energy solutions provider, today announced results for the third quarter of 2024. Michael Stein, chief executive officer of Genie Energy, commented: "Our third quarter featured strong operational and financial results consistent with our performance in recent quarters. We are on track to deliver the high end of our full year Adjusted EBITDA guidance of $40 to $50 million. "At GRE, our retail energy business, we added 36,000 net new meters during the quarter driven by organic sales activity and a large aggregation deal. Electricity and gas margins remained rob
NEWARK, NJ, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Genie Energy Ltd., (NYSE:GNE), a leading retail energy and renewable energy solutions provider, will announce financial and operational results for the third quarter of 2024 on Wednesday, November 6th, 2024. Genie Energy will issue an earnings release over a wire service and post it in the "Investors" section of the Genie Energy website (https://genie.com/investors/quarterly-earnings/) at 7:30 AM Eastern. The release also will be filed in a current report (Form 8-K) with the SEC. At 8:30 AM Eastern, Genie Energy's management will host a conference call to discuss financial and operational results, business outlook, and strategy. The call will
Newark, NJ, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Genie Energy, Ltd. (NYSE:GNE), a leading retail energy and renewable energy solutions provider, today announced results for the second quarter of 2024. Michael Stein, chief executive officer of Genie Energy, commented: "Our solid second quarter results reflect the investments in meter and RCE growth we made in the first half of last year, combined with a stable, normalized retail energy environment. We also delivered a solid performance at Genie Renewables, where Diversegy and our operational solar farms helped drive 7% revenue growth and over 700 basis points of gross margin expansion. "Our strong performance over
NEWARK, NJ, July 17, 2024 (GLOBE NEWSWIRE) -- Genie Energy Ltd., (NYSE:GNE, GNEPRA))), a leading retail energy and renewable energy solutions provider, will announce financial and operational results for the second quarter of 2024 on Tuesday, August 6th, 2024. Genie Energy will issue an earnings release over a wire service and post it in the "Investors" section of the Genie Energy website (https://genie.com/investors/quarterly-earnings/) at 7:30 AM Eastern. The release also will be filed in a current report (Form 8-K) with the SEC. At 8:30 AM Eastern, Genie Energy's management will host a conference call to discuss financial and operational results, business outlook, and strategy. The ca
Revenue increased to $119.7 Million and Gross Profit Climbed to $33.8 Million - Both Record First Quarter Levels Income from Operations of $9.8 million, Adjusted EBITDA1 of $11.7 Million and Earnings per Diluted Share of $0.30 Repurchased 250,000 Shares of Class B Common Stock Newark, NJ, May 08, 2024 (GLOBE NEWSWIRE) -- Genie Energy, Ltd. (NYSE:GNE), a leading retail energy and renewable energy solutions provider, today announced results for the first quarter of 2024. Michael Stein, chief executive officer of Genie Energy, commented: "We reported record first quarter revenue and gross profits, led by Genie Retail Energy,
NEWARK, NJ, April 24, 2024 (GLOBE NEWSWIRE) -- Genie Energy Ltd., (NYSE:GNE, GNEPRA))), a leading retail energy and renewable energy solutions provider, will announce financial and operational results for the first quarter of 2024 on Wednesday, May 8, 2024. Genie Energy will issue an earnings release over a wire service and post it in the "Investors" section of the Genie Energy website (https://genie.com/investors/quarterly-earnings/) at 7:30 AM Eastern. The release also will be filed in a current report (Form 8-K) with the SEC. At 8:30 AM Eastern, Genie Energy's management will host a conference call to discuss financial and operational results, business outlook, and strategy. The call
NEWARK, NJ, March 21, 2024 (GLOBE NEWSWIRE) -- Sunlight Energy Investments (Sunlight Energy), a subsidiary of Genie Energy Ltd., (NYSE:GNE), a retail energy and renewable energy solutions provider, today announced that it has purchased a late-stage solar development project in Hamilton, Indiana from the project developer. The array will supply power to the Hamilton Community High and Elementary Schools through direct fixed-price solar power purchase agreements (PPAs). The transaction follows Sunlight Energy's purchase of a portfolio of 12 operational solar arrays serving educational facilities in Ohio and Michigan with an aggregate rating of 9.4 MW. Nir Ashpiz, CEO of Sunlight Energy
Record Fourth Quarter and Full Year Revenue Full-year 2023 Adjusted EBITDA1 exceeded upper range of prior guidance Cash and cash equivalents, short and long-term restricted cash, and marketable equity securities increased 55% year-over-year to $163.4 million with no debt outstanding Newark, NJ , March 11, 2024 (GLOBE NEWSWIRE) -- Genie Energy, Ltd. (NYSE:GNE), a leading retail energy and renewable energy solutions provider, today announced results for the fourth quarter and full year ended December 31, 2023. Michael Stein, chief executive officer of Genie Energy, commented: "Genie finished a strong year with record fourth quarter and full-year
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Newark, NJ, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Genie Energy, Ltd. (NYSE:GNE), a leading retail energy and renewable energy solutions provider, today announced results for the third quarter of 2024. Michael Stein, chief executive officer of Genie Energy, commented: "Our third quarter featured strong operational and financial results consistent with our performance in recent quarters. We are on track to deliver the high end of our full year Adjusted EBITDA guidance of $40 to $50 million. "At GRE, our retail energy business, we added 36,000 net new meters during the quarter driven by organic sales activity and a large aggregation deal. Electricity and gas margins remained rob
NEWARK, NJ, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Genie Energy Ltd., (NYSE:GNE), a leading retail energy and renewable energy solutions provider, will announce financial and operational results for the third quarter of 2024 on Wednesday, November 6th, 2024. Genie Energy will issue an earnings release over a wire service and post it in the "Investors" section of the Genie Energy website (https://genie.com/investors/quarterly-earnings/) at 7:30 AM Eastern. The release also will be filed in a current report (Form 8-K) with the SEC. At 8:30 AM Eastern, Genie Energy's management will host a conference call to discuss financial and operational results, business outlook, and strategy. The call will
Newark, NJ, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Genie Energy, Ltd. (NYSE:GNE), a leading retail energy and renewable energy solutions provider, today announced results for the second quarter of 2024. Michael Stein, chief executive officer of Genie Energy, commented: "Our solid second quarter results reflect the investments in meter and RCE growth we made in the first half of last year, combined with a stable, normalized retail energy environment. We also delivered a solid performance at Genie Renewables, where Diversegy and our operational solar farms helped drive 7% revenue growth and over 700 basis points of gross margin expansion. "Our strong performance over
NEWARK, NJ, July 17, 2024 (GLOBE NEWSWIRE) -- Genie Energy Ltd., (NYSE:GNE, GNEPRA))), a leading retail energy and renewable energy solutions provider, will announce financial and operational results for the second quarter of 2024 on Tuesday, August 6th, 2024. Genie Energy will issue an earnings release over a wire service and post it in the "Investors" section of the Genie Energy website (https://genie.com/investors/quarterly-earnings/) at 7:30 AM Eastern. The release also will be filed in a current report (Form 8-K) with the SEC. At 8:30 AM Eastern, Genie Energy's management will host a conference call to discuss financial and operational results, business outlook, and strategy. The ca
Revenue increased to $119.7 Million and Gross Profit Climbed to $33.8 Million - Both Record First Quarter Levels Income from Operations of $9.8 million, Adjusted EBITDA1 of $11.7 Million and Earnings per Diluted Share of $0.30 Repurchased 250,000 Shares of Class B Common Stock Newark, NJ, May 08, 2024 (GLOBE NEWSWIRE) -- Genie Energy, Ltd. (NYSE:GNE), a leading retail energy and renewable energy solutions provider, today announced results for the first quarter of 2024. Michael Stein, chief executive officer of Genie Energy, commented: "We reported record first quarter revenue and gross profits, led by Genie Retail Energy,
NEWARK, NJ, April 24, 2024 (GLOBE NEWSWIRE) -- Genie Energy Ltd., (NYSE:GNE, GNEPRA))), a leading retail energy and renewable energy solutions provider, will announce financial and operational results for the first quarter of 2024 on Wednesday, May 8, 2024. Genie Energy will issue an earnings release over a wire service and post it in the "Investors" section of the Genie Energy website (https://genie.com/investors/quarterly-earnings/) at 7:30 AM Eastern. The release also will be filed in a current report (Form 8-K) with the SEC. At 8:30 AM Eastern, Genie Energy's management will host a conference call to discuss financial and operational results, business outlook, and strategy. The call
NEWARK, NJ, March 21, 2024 (GLOBE NEWSWIRE) -- Sunlight Energy Investments (Sunlight Energy), a subsidiary of Genie Energy Ltd., (NYSE:GNE), a retail energy and renewable energy solutions provider, today announced that it has purchased a late-stage solar development project in Hamilton, Indiana from the project developer. The array will supply power to the Hamilton Community High and Elementary Schools through direct fixed-price solar power purchase agreements (PPAs). The transaction follows Sunlight Energy's purchase of a portfolio of 12 operational solar arrays serving educational facilities in Ohio and Michigan with an aggregate rating of 9.4 MW. Nir Ashpiz, CEO of Sunlight Energy
Record Fourth Quarter and Full Year Revenue Full-year 2023 Adjusted EBITDA1 exceeded upper range of prior guidance Cash and cash equivalents, short and long-term restricted cash, and marketable equity securities increased 55% year-over-year to $163.4 million with no debt outstanding Newark, NJ , March 11, 2024 (GLOBE NEWSWIRE) -- Genie Energy, Ltd. (NYSE:GNE), a leading retail energy and renewable energy solutions provider, today announced results for the fourth quarter and full year ended December 31, 2023. Michael Stein, chief executive officer of Genie Energy, commented: "Genie finished a strong year with record fourth quarter and full-year
NEWARK, NJ, March 05, 2024 (GLOBE NEWSWIRE) -- Genie Energy Ltd., (NYSE:GNE, GNEPRA))), a leading retail energy and renewable energy solutions provider, will announce financial and operational results for the fourth quarter and full year 2023 on Monday, March 11, 2024. Genie Energy will issue an earnings release over a wire service and post it in the "Investors" section of the Genie Energy website (https://genie.com/investors/quarterly-earnings/) at 7:30 AM Eastern. The release also will be filed in a current report (Form 8-K) with the SEC. At 8:30 AM Eastern, Genie Energy's management will host a conference call to discuss financial and operational results, business outlook, and strateg
Acquires Operational Arrays Aggregating 9.4 MW NEWARK, NJ, Nov. 27, 2023 (GLOBE NEWSWIRE) -- Sunlight Energy Investments (Sunlight Energy), a subsidiary of Genie Energy Ltd., (NYSE:GNE), a retail energy and renewable energy solutions provider, today announced that it has purchased a portfolio of 12 operating solar arrays with an aggregate rating of 9.4 MW-DC from the project developer. The arrays supply power to on-site school facilities in Ohio and Michigan, and their production is covered under direct, long-term fixed-price solar power purchase agreements (PPAs). The sale also provides Sunlight Energy with the right of first refusal on the developer's future projects. "We