Genie Energy Q3 revenue falls as customer base shrinks
Genie Energy Q3 revenue falls as customer base shrinks
Overview
U.S. retail energy provider's Q3 revenue fell 8% yr/yr as customer base contracted
Q3 EPS rose to $0.39 from $0.25 on improved gross margin
Company repurchased 128,000 shares for $2 mln in Q3
Outlook
Genie Energy expects 2026 Adjusted EBITDA of $32.5 mln to $40.0 mln
Company expects gross margin to remain near long-term average under normalized market conditions
Company plans to bring new community solar project in Delhi, NY online in late 2027
Result Drivers
GROSS MARGIN RECOVERY - Co said improved gross margin was due to normalized energy market conditions, offsetting lower customer base and higher acquisition costs
CUSTOMER BASE CONTRACTION - Co said revenue decline was driven by a smaller customer base, partially offset by higher revenue per unit
RENEWABLES PROFITABILITY - Co said improved results at Genie Renewables were driven by higher profitability at Diversegy and Genie Solar
Company press release: ID:nGNX9HK6yb
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 EPS |
| $0.39 |
|
Analyst Coverage
The one available analyst rating on the shares is "hold"
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 6.4% below its November 4 closing price of $17.09
The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 17 three months ago
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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.)