Genie Energy Ltd
For the period ended Mar 31, 2024. Filed May 9, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
GNE$19.25+8.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
CONSOLIDATED BALANCE SHEETS
(in thousands, except per share amounts)
| March 31,2024 | December 31,2023 | |
|---|---|---|
| (Unaudited) | (Note 1) | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $106,560 | $107,609 |
| Restricted cash—short-term | 9,918 | 10,442 |
| Marketable equity securities | 372 | 396 |
| Trade accounts receivable, net of allowance for doubtful accounts of $7,020 and $6,574 at March 31, 2024 and December 31, 2023, respectively | 60,087 | 61,909 |
| Inventory | 18,460 | 14,598 |
| Prepaid expenses | 15,049 | 16,222 |
| Other current assets | 6,085 | 5,475 |
| Current assets of discontinued operations | 11,292 | 13,182 |
| Total current assets | 227,823 | 229,833 |
| Restricted cash—long-term | 45,541 | 44,945 |
| Property and equipment, net | 16,139 | 15,192 |
| Goodwill | 9,998 | 9,998 |
| Other intangibles, net | 2,643 | 2,735 |
| Deferred income tax assets, net | 5,200 | 5,200 |
| Other assets | 16,427 | 15,247 |
| Noncurrent assets of discontinued operations | 4,533 | 7,405 |
| Total assets | $328,304 | $330,555 |
| Liabilities and equity | ||
| Current liabilities: | ||
| Trade accounts payable | 22,407 | 27,881 |
| Accrued expenses | 53,821 | 49,389 |
| Income taxes payable | 9,614 | 6,699 |
| Due to IDT Corporation, net | 120 | 145 |
| Other current liabilities | 6,107 | 9,280 |
| Current liabilities of discontinued operations | 8,516 | 4,858 |
| Total current liabilities | 100,585 | 98,252 |
| Noncurrent captive insurance liability | 45,541 | 44,945 |
| Other liabilities | 2,082 | 2,212 |
| Noncurrent liabilities of discontinued operations | 681 | 638 |
| Total liabilities | 148,889 | 146,047 |
| Commitments and contingencies | — | — |
| Equity: | ||
| Genie Energy Ltd. stockholders’ equity: | ||
| Preferred stock, $0.01 par value; authorized shares—10,000: | ||
| Series 2012-A, designated shares—8,750; at liquidation preference, consisting of 0 shares issued and outstanding at March 31, 2024 and December 31, 2023 | — | — |
| Class A common stock, $0.01 par value; authorized shares—35,000; 1,574 shares issued and outstanding at March 31, 2024 and December 31, 2023 | 16 | 16 |
| Class B common stock, $0.01 par value; authorized shares—200,000; 28,905 and 28,764 shares issued and 25,605 and 25,820 shares outstanding at March 31, 2024 and December 31, 2023, respectively | 289 | 288 |
| Additional paid-in capital | 157,549 | 156,101 |
| Treasury stock, at cost, consisting of 3,300 and 2,944 shares of Class B common stock at March 31, 2024 and December 31, 2023 | (29,285) | (22,661) |
| Accumulated other comprehensive income | (1,911) | 3,299 |
| Retained earnings | 66,198 | 60,196 |
| Total Genie Energy Ltd. stockholders’ equity | 192,856 | 197,239 |
| Noncontrolling interests | (13,441) | (12,731) |
| Total equity | 179,415 | 184,508 |
| Total liabilities and equity | $328,304 | $330,555 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.