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Dec 31, 2020
Genie Energy Q4 2020 Earnings Report
Reported a loss of $0.06 per diluted share on revenue of $102.9 million.
Key Takeaways
Genie Energy reported a solid fourth quarter, with domestic business performing well despite COVID-19 impacts. The company is working to de-risk the business and narrow its strategic focus due to losses from the Texas winter storm.
Consolidated gross profit increased 18% for the full year 2020.
EPS climbed to $0.44 for the full year 2020, from $0.10 in 2019.
Domestic retail supply business delivered over $37 million in adjusted EBITDA, a record performance for the full year 2020.
Oil and gas exploration program concluded after finding no light oil in last well tests.