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Genie Energy Q3 revenue falls as customer base shrinks

By Reuters News


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:


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


Reuters Recommended Reads

  • Nov 4 - Sunrun Q3 revenue rises 52%, beats analyst estimates on third-party sales

  • Nov 4 - Southwest Gas Q3 profit beats estimates on rate hikes, lower interest expense

  • Nov 4 - Avista Q3 profit rises on investment gains, retail price hike


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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