Genie Energy Ltd.
For the period ended Dec 31, 2024. Filed Mar 14, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 14, 2025
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 Statements of Operations
| Year ended December 31, | |||
|---|---|---|---|
| (in thousands, except per share data) | 2024 | 2023 | 2022 |
| REVENUES: | |||
| Electricity | $350,514 | $350,779 | $241,828 |
| Natural gas | 52,101 | 55,988 | 62,144 |
| Other | 22,587 | 21,941 | 11,567 |
| Total revenues | 425,202 | 428,708 | 315,539 |
| Cost of revenues | 286,719 | 282,502 | 160,757 |
| GROSS PROFIT | 138,483 | 146,206 | 154,782 |
| OPERATING EXPENSES AND LOSSES: | |||
| Selling, general and administrative (i) | 93,396 | 91,109 | 74,962 |
| Provision for captive insurance liability | 33,612 | 45,088 | — |
| Impairment of assets | 185 | — | 2,066 |
| Income from operations | 11,290 | 10,009 | 77,754 |
| Interest income | 7,072 | 5,076 | 835 |
| Interest expense | (464) | (99) | (129) |
| Gain (loss) on marketable equity securities and other investments | 351 | 478 | (417) |
| Other income (loss), net | 1,620 | 2,644 | (520) |
| Income before income taxes | 19,869 | 18,108 | 77,523 |
| Provision for income taxes | (4,667) | (4,239) | (21,037) |
| NET INCOME FROM CONTINUING OPERATIONS | 15,202 | 13,869 | 56,486 |
| (Loss) income from discontinued operations, net of tax | (2,907) | 6,409 | 30,445 |
| NET INCOME | 12,295 | 20,278 | 86,931 |
| Net loss (income) attributable to noncontrolling interests, net | 293 | (740) | 874 |
| NET INCOME ATTRIBUTABLE TO GENIE ENERGY LTD. | 12,588 | 19,538 | 87,805 |
| Dividends on preferred stock | — | (333) | (1,939) |
| NET INCOME ATTRIBUTABLE TO GENIE ENERGY LTD. COMMON STOCKHOLDERS | $12,588 | $19,205 | $85,866 |
| Amounts attributable to Genie Energy Ltd. common stockholders | |||
| Income from continuing operations | $15,495 | $12,795 | $59,956 |
| (Loss) income from discontinued operations | (2,907) | 6,410 | 25,910 |
| Net income attributable to Genie Energy Ltd. common stockholders | $12,588 | $19,205 | $85,866 |
| Earnings per share attributed to Genie Energy Ltd. common stockholders | |||
| Basic | |||
| Income from continuing operations | $0.58 | $0.50 | $2.34 |
| (Loss) income from discontinued operations | (0.11) | 0.25 | 1.01 |
| Net income attributable to Genie Energy Ltd. common stockholders | $0.47 | $0.75 | $3.35 |
| Diluted | |||
| Income from continuing operations | $0.57 | $0.49 | $2.28 |
| (Loss) income from discontinued operations | (0.11) | 0.25 | 0.98 |
| Net income attributable to Genie Energy Ltd. common stockholders | $0.46 | $0.74 | $3.26 |
| Weighted-average number of shares used in the calculation of earnings per share | |||
| Basic | 26,763 | 25,553 | 25,629 |
| Diluted | 27,163 | 26,062 | 26,366 |
| Dividends declared per common share | $0.30 | $0.30 | $0.30 |
| (i) Stock-based compensation included in selling, general and administrative expenses | $2,346 | $2,783 | $2,968 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.