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Mar 31, 2022
Genie Energy Q1 2022 Earnings Report
Reported record gross profit and net income for Q1 2022.
Key Takeaways
Genie Energy reported record quarterly results in Q1 2022, driven by Genie Retail Energy (GRE). The company's flexibility and market expertise enabled strong performance, robust cash flows, and significant value for shareholders.
Record gross profit of $45.5 million and gross margin of 46.2%.
Record net income attributable to common stockholders of $17.5 million, with diluted EPS of $0.67.
Adjusted EBITDA of $25.7 million.
GRE delivered record levels of gross profit, income from operations and Adjusted EBITDA.
Forward Guidance
The company expects to deliver strong results across its retail businesses by focusing on customer portfolio management and margin preservation. Genie Renewables is expected to report $15-20 million in revenue for 2022.
Positive Outlook
- Continue to focus on customer portfolio management
- Continue to focus on margin preservation
- Strong cash flows
- Strong cash position
- Debt-free balance sheet
Challenges Ahead
- Seasonally lower consumption in the U.S. during the second quarter
- Volatile commodity price environment
- Seasonality impacting Genie Renewables' revenue
- Projects in process but not completed impacted Genie Renewables' revenue
- Mark-to-market losses for GREI due to volatility in energy prices
Historical Earnings Impact
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Avg. Return Before/After Earnings
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