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Sep 30, 2024
Genie Energy Q3 2024 Earnings Report
Genie Energy's third quarter results decreased compared to the same period last year.
Key Takeaways
Genie Energy reported a decrease in revenue and profitability for the third quarter of 2024. Revenue decreased by 10.5% to $111.9 million, and net income attributable to Genie common stockholders decreased to $10.2 million, or $0.38 per diluted share. The company is on track to deliver the high end of its full year Adjusted EBITDA guidance of $40 to $50 million.
Revenue decreased 10.5% to $111.9 million.
Gross profit decreased 7.7% to $37.9 million, with gross margin increasing to 33.9%.
Net income attributable to Genie common stockholders was $10.2 million, or $0.38 per diluted share.
Cash and cash equivalents, short and long-term restricted cash, and marketable equity securities increased to $191.7 million.
Revenue by Segment
Forward Guidance
Genie Energy is on track to deliver the high end of its full year Adjusted EBITDA guidance of $40 to $50 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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