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Genie Energy Ltd Class B Commo (GNE)
NYSE:GNE
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Earnings Data
Report Date
Mar 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: -7.17%
|Next Earnings Date:Mar 06, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strong operational and financial achievements, including significant growth in customer base, successful market entry, and robust performance in the renewable sector. However, these positives were tempered by a notable decrease in revenue and profitability metrics. Efforts to return value to shareholders through buybacks and dividends were emphasized, but the decline in income and EBITDA presents a concern.Company Guidance
During the Genie Energy Limited third quarter 2024 earnings call, executives provided guidance on several metrics. The company reported $12 million in income from operations and $14 million in adjusted EBITDA for the quarter, with a year-to-date adjusted EBITDA of $37 million. They are on track to meet the high end of their annual adjusted EBITDA guidance of $40 million to $50 million. Revenue for the quarter was $111.9 million, a 10.5% decrease from the previous year, driven by a 12.1% decline in GRE revenue to $105.8 million due to lower per meter consumption. Meanwhile, GREW saw a revenue increase of 29.2% to $6.1 million. The gross profit was $37.9 million, with a margin of 33.9%, a 100 basis point improvement from last year. The company also highlighted a 3.5% increase in meters served to 399,000 and a 1.3% rise in RCEs to 380,000. They repurchased approximately 123,000 shares for $2 million and returned $18.5 million in aggregate value to shareholders through buybacks and dividends. The balance sheet was strong with cash and equivalents totaling $191.7 million and a working capital of $138.8 million.Strong Income and EBITDA
Genie Energy generated $12 million in income from operations and $14 million in adjusted EBITDA for the third quarter. Year-to-date adjusted EBITDA reached $37 million, positioning the company to meet its annual guidance of $40 million to $50 million.
Expanding Customer Base
Genie's retail energy business added approximately 36,000 net new meters, growing to 399,000 meters served, a 3.5% increase year-over-year.
Entry into California Market
Genie began signing up its first residential natural gas customers in California, expanding its reach to 19 states and Washington, D.C.
Strong Performance in Texas
The Texas team's efforts have led to accelerated growth in the deregulated retail market, benefiting from a favorable competitive environment.
Renewable Business Growth
Diversegy's revenue doubled year-over-year, and the renewable sector generated positive adjusted EBITDA for the first time.
Financial Strength and Shareholder Returns
The company repurchased approximately 123,000 shares and returned $18.5 million to stockholders through buybacks and dividends.
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GNE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GNE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $15.60 | $16.75 | +7.37% |
| Aug 06, 2024 | $15.29 | $15.02 | -1.77% |
| May 08, 2024 | $15.67 | $14.57 | -7.02% |
| Mar 11, 2024 | $18.66 | $16.91 | -9.38% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Genie Energy Ltd Class B Commo (GNE) report earnings?
Genie Energy Ltd Class B Commo (GNE) is schdueled to report earning on Mar 06, 2025, TBA Not Confirmed.
What is Genie Energy Ltd Class B Commo (GNE) earnings time?
Genie Energy Ltd Class B Commo (GNE) earnings time is at Mar 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GNE EPS forecast?
Currently, no data Available
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