Genie Energy Q2 revenue falls
Genie Energy Q2 revenue falls
Overview
US retail and renewable energy provider's Q2 revenue fell yr/yr, gross margin improved sharply
Q2 adjusted EPS rose to $0.43 from $0.09 on higher gross profit
Company repurchased 48,000 shares for $659,000 and maintained quarterly dividend
Outlook
Genie Energy maintains 2026 full-year Adjusted EBITDA guidance of $32.5 mln to $40 mln
Company expects recent high-value customer acquisitions to favorably impact future results
Genie Energy aims to boost cash generation and expand Diversegy and Genie Solar bottom lines
Result Drivers
WHOLESALE ENERGY CONDITIONS - Co said normalized wholesale energy market conditions enabled gross margin to return to historical average, driving improved bottom-line results
CUSTOMER ACQUISITION SPEND - Co increased customer acquisition spending, targeting high-value customers, which is expected to favorably impact results in coming quarters
RENEWABLES SEGMENT MARGINS - Diversegy and Genie Solar drove margin improvement and positive EBITDA in renewables segment, aided by new community solar projects
Company press release: ID:nGNX26b2B4
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| $100.4 mln | $104.57 mln (1 Analyst) |
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the electric utilities peer group is "buy"
Wall Street's median 12-month price target for Genie Energy Ltd is $16.00, about 13.3% above its August 5 closing price of $14.12
The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 25 three months ago
Reuters Recommended Reads
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)