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Shares of Genie Energy Ltd. GNE have gained 4.6% since reporting first-quarter 2025 results, outperforming the broader market. During the same period, the S&P 500 index has declined 0.8%. Over the past month, Genie Energy’s stock has risen 6.3%, exceeding the S&P 500’s 2.8% growth.
Revenues & Earnings Reflect Robust Growth
Genie Energy delivered strong financial results for the quarter ended March 31, 2025. Total revenues rose 14.3% year over year to $136.8 million from $119.7 million. The increase was driven by a 17.8% jump in revenues from the Genie Retail Energy (GRE) segment, which contributed $132.5 million. Electricity revenues climbed 16.4% to $104.1 million, and natural gas revenues grew 26.8% to $28.4 million, thanks to increased consumption and per-unit pricing.
Net income attributable to GNE common stockholders was $10.6 million, up 30.9% from $8.1 million in the year-ago period. This translated to diluted earnings per share (EPS) of 40 cents, up from 30 cents in the first quarter of 2024. On a non-GAAP basis, net income increased 24.7% to $11.1 million, and non-GAAP EPS rose to 42 cents from 33 cents.
Genie Energy Ltd. Price, Consensus and EPS Surprise
Genie Energy Ltd. price-consensus-eps-surprise-chart | Genie Energy Ltd. Quote
Operational Strength & Customer Growth
GRE’s operational performance reflected strategic investments made in 2024 to expand its customer base. The company reported net year-over-year additions of more than 48,000 meters, ending the quarter with 413,000 meters and 402,000 residential customer equivalents, marking 13.3% and 15.6% increases, respectively.
This growth stemmed from deeper market penetration and geographic expansion, including entry into California and plans to offer gas services in Kentucky. The company maintained a steady customer churn rate of 5.5%, unchanged from the prior year and only marginally higher than the previous quarter.
GRE’s income from operations rose 18.2% year over year to $16.8 million, whereas adjusted EBITDA increased 17.1% to $17.1 million. Despite strong top-line growth, GRE’s gross margin declined by 150 basis points to 27.1% due to the acquisition of lower-margin meters through municipal aggregation programs.
Renewables Segment Sees Transition
Genie Renewables (GREW) experienced a 40% year-over-year drop in revenues to $4.3 million, largely attributed to its strategic exit from the commercial-scale solar project business. However, Diversegy, Genie Energy’s energy brokerage arm housed within GREW, posted a 55% increase in revenues and contributed to the majority of the segment’s revenues this quarter.