Genie Energy Ltd
For the period ended Mar 31, 2024. Filed May 9, 2024.
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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.
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CONSOLIDATED STATEMENTS OF OPERATIONS
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| (in thousands, except per share data) | ||
| Revenues: | ||
| Electricity | $89,396 | $74,487 |
| Natural gas | 22,398 | 26,925 |
| Other | 7,894 | 3,864 |
| Total revenues | 119,688 | 105,276 |
| Cost of revenues | 85,902 | 71,990 |
| Gross profit | 33,786 | 33,286 |
| Operating expenses: | ||
| Selling, general and administrative (i) | 22,901 | 22,011 |
| Provision for captive insurance liability | 1,036 | — |
| Income from operations | 9,849 | 11,275 |
| Interest income | 1,340 | 974 |
| Interest expense | (32) | (19) |
| Gain (loss) on marketable equity securities and investments | 117 | (71) |
| Other income, net | 80 | 3,246 |
| Income before income taxes | 11,354 | 15,405 |
| Provision for income taxes | (2,920) | (4,068) |
| Net income from continuing operations | 8,434 | 11,337 |
| (Loss) income from discontinued operations, net of taxes | (265) | 3,055 |
| Net income | 8,169 | 14,392 |
| Net income (loss) attributable to noncontrolling interests, net | 46 | (39) |
| Net income attributable to Genie Energy Ltd. | 8,123 | 14,431 |
| Dividends on preferred stock | — | (157) |
| Net income attributable to Genie Energy Ltd. common stockholders | $8,123 | $14,274 |
| Net income (loss) attributable to Genie Energy Ltd. common stockholders | ||
| Continuing operations | $8,388 | $11,218 |
| Discontinued operations | (265) | 3,056 |
| Net income attributable to Genie Energy Ltd. common stockholders | $8,123 | $14,274 |
| Earnings (loss) per share attributable to Genie Energy Ltd. common stockholders: | ||
| Basic: | ||
| Continuing operations | $0.31 | $0.44 |
| Discontinued operations | (0.01) | 0.12 |
| Earnings per share attributable to Genie Energy Ltd. common stockholders | $0.30 | $0.56 |
| Diluted | ||
| Continuing operations | $0.31 | $0.42 |
| Discontinued operations | (0.01) | 0.12 |
| Earnings per share attributable to Genie Energy Ltd. common stockholders | $0.30 | $0.54 |
| Weighted-average number of shares used in calculation of earnings per share: | ||
| Basic | 26,790 | 25,326 |
| Diluted | 27,298 | 26,620 |
| Dividends declared per common share | $0.075 | $0.075 |
| (i) Stock-based compensation included in selling, general and administrative expenses | $749 | $899 |
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