Genie Energy Ltd. Class B Commo ( (GNE) ) has released its Q1 earnings. Here is a breakdown of the information Genie Energy Ltd. Class B Commo presented to its investors.
Genie Energy Ltd. is a prominent provider of retail and renewable energy solutions, offering electricity and natural gas to residential and small business customers in the United States, with a focus on renewable energy projects. In the first quarter of 2025, Genie Energy reported strong financial performance, marked by significant growth in revenue, profitability, and cash generation compared to the previous year. The company’s revenue increased by 14.3% to $136.8 million, and income from operations rose by 30.3% to $12.8 million. Genie Retail Energy (GRE) saw a 17.8% increase in revenue, driven by a growing customer base and higher consumption per customer. However, Genie Renewables (GREW) experienced a 40% decline in revenue due to the exit from commercial-scale projects, although its energy brokerage business, Diversegy, showed a 55% revenue increase. Looking ahead, Genie Energy remains focused on expanding its utility-scale project pipeline, with the completion of its first community solar project in Lansing, New York, expected in the third quarter of 2025. The company continues to return value to shareholders through share repurchases and regular dividends.