Genie Energy Ltd
For the period ended Dec 31, 2023. Filed Mar 14, 2024.
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FY2023 · Filed Mar 14, 2024
GNE$19.25+8.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
| Year ended December 31, | ||
|---|---|---|
| (in thousands, except per share data) | 2023 | 2022 |
| REVENUES: | ||
| Electricity | $350,779 | $241,828 |
| Natural gas | 55,988 | 62,144 |
| Other | 21,941 | 11,567 |
| Total revenues | 428,708 | 315,539 |
| Cost of revenues | 282,502 | 160,757 |
| GROSS PROFIT | 146,206 | 154,782 |
| OPERATING EXPENSES AND LOSSES: | ||
| Selling, general and administrative (i) | 91,109 | 74,962 |
| Provision for captive insurance liability | 45,088 | — |
| Impairment of assets | — | 2,066 |
| Income from operations | 10,009 | 77,754 |
| Interest income | 5,076 | 835 |
| Interest expense | (99) | (129) |
| Unrealized income (loss) on marketable equity securities and other investments | 478 | (417) |
| Other income (loss), net | 2,644 | (520) |
| Income before income taxes | 18,108 | 77,523 |
| Provision for income taxes | (4,239) | (21,037) |
| NET INCOME FROM CONTINUING OPERATIONS | 13,869 | 56,486 |
| Income from discontinued operations, net of tax | 6,409 | 30,445 |
| NET INCOME | 20,278 | 86,931 |
| Net (income) loss attributable to noncontrolling interests, net | (740) | 874 |
| NET INCOME ATTRIBUTABLE TO GENIE ENERGY LTD. | 19,538 | 87,805 |
| Dividends on preferred stock | (333) | (1,939) |
| NET INCOME ATTRIBUTABLE TO GENIE ENERGY LTD. COMMON STOCKHOLDERS | $19,205 | $85,866 |
| Amounts attributable to Genie Energy Ltd. common stockholders | ||
| Income from continuing operations | $12,795 | $59,956 |
| Income from discontinued operations | 6,410 | 25,910 |
| Net income attributable to Genie Energy Ltd. | $19,205 | $85,866 |
| Earnings per share attributed to Genie Energy Ltd. common stockholders | ||
| Basic | ||
| Income from continuing operations | $0.50 | $2.34 |
| Income from discontinued operations | 0.25 | 1.01 |
| Net income attributable to Genie Energy Ltd. common stockholders | $0.75 | $3.35 |
| Diluted | ||
| Income from continuing operations | $0.49 | $2.28 |
| Income from discontinued operations | 0.25 | 0.98 |
| Net income attributable to Genie Energy Ltd. common stockholders | $0.74 | $3.26 |
| Weighted-average number of shares used in the calculation of earnings per share | ||
| Basic | 25,553 | 25,629 |
| Diluted | 26,062 | 26,366 |
| Dividends declared per common share | $0.30 | $0.30 |
| (i) Stock-based compensation included in selling, general and administrative expenses | $2,783 | $2,968 |
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