GNE

Shares of Genie Energy, Ltd. GNE have gained 3.8% since reporting results for the second quarter of 2026. This compares with the S&P 500 index’s 0.1% return over the same time frame. Over the past month, the stock has gained 3.4% compared with the S&P 500’s 1.5% return. Second-quarter revenues declined 4.6% year over year to $100.4 million from $105.3 million. Earnings per share increased to 43 cents from 9 cents in the prior-year quarter, while net income attributable to common stockholders rose to $11.4 million from $2.3 million. Gross profit advanced 43.4% to $33.7 million, and the gross margin expanded to 33.5% from 22.3%. Income from operations increased to $6.5 million from $2.3 million, while adjusted EBITDA climbed to $7.5 million from $3 million. Genie Energy Ltd. price-consensus-eps-surprise-chart | Genie Energy Ltd. Quote Genie Retail Energy revenues fell 4.9% year over year to $94.1 million. Electricity revenues decreased 7% to $83.6 million, while natural gas revenues increased 16.2% year over year to $10.6 million. GRE gross profit rose 42.2% to $30.3 million, with the gross margin widening 1,070 basis points to 32.2%. Its operating income increased 108.3% year over year to $8.3 million and adjusted EBITDA advanced 96.7% to $8.7 million. GRE ended the quarter with 345,000 residential customer equivalents. Gross meter additions declined to 65,000 from 70,000, while churn rose to 5.9% from 4.8%. Genie Renewables revenues were nearly unchanged at $6.3 million, but gross profit increased 55% to $3.3 million. GREW posted operating income of $0.1 million and adjusted EBITDA of $0.3 million, reversing respective losses of $0.2 million and $0.1 million. Cash, restricted cash and marketable equity securities totaled $204.3 million, while working capital was $199.6 million and net debt was $6.8 million. CEO Michael Stein said that normalized wholesale energy-market conditions restored GRE’s gross margin to a level comparable with its long-term historical average. He said that customer additions were weighted toward higher-value customers and diversified the base through growth in the Texas electricity and California natural-gas markets. Management expects those cohorts to support future results. Stein said that Diversegy is expanding its book of business at a double-digit annualized rate and using artificial intelligence to refine customer acquisition and tailor offerings. Genie Solar’s second New York community-solar project began operating late in the quarter and is expected to affect results from the third quarter. Roded expanded pallet production in Israel, approached capacity at its existing facility, and advanced plans for a larger Israeli plant and a U.S. manufacturing site. GRE’s revenue decline primarily reflected the expiration of low-margin aggregation agreements, which reduced consumption but had limited bottom-line impacts. Electricity volume fell 17%, partly offset by a 12% increase in revenues per kilowatt-hour. Natural-gas volume declined 23%, while revenues per therm rose 50%. Consolidated selling, general and administrative expenses increased 28% to $27.2 million, largely because GRE shifted acquisitions toward higher-cost channels that management said typically yield greater customer lifetime value. Other income rose to $3.8 million from $54,000, primarily reflecting investment gains, including a $0.7-million gain on the sale of an investment property. The effective tax rate fell to 2.0% from 43.8% due to a federal investment tax credit tied to the community-solar project activated during the quarter. Management maintained its 2026 adjusted EBITDA guidance of $32.5-$40 million. It expects Diversegy and Genie Solar to expand their bottom lines in coming quarters and plans to increase cash generation across GRE, Diversegy and Genie Solar, while continuing growth investments, opportunistic share repurchases and quarterly dividends. On April 7, Genie Energy obtained control of Able Minds, an applied behavioral-analysis therapy provider for children with autism, after cumulative contributions of $1 million increased its stake to 57%. Able Minds contributed $0.2 million to the quarterly revenues and was being integrated into GREW. In June, Genie Energysold an investment property for $7.3 million, receiving $6.6 million after direct costs. Following an earlier change in federal solar tax-credit timing, Genie Energyalso identified several solar projects for discontinuation after reassessing their financial viability. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Genie Energy Ltd. (GNE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Image source: The Motley Fool. Thursday, Aug. 6, 2026 at 8:30 a.m. ET Chief Executive Officer - Michael Stein Chief Financial Officer - Avi Goldin Operator: Good morning, and welcome to the Genie Energy Limited's Second Quarter 2026 Earnings Call. In today's presentation, Genie Energy management will discuss Genie's financial and operational results for the 3 months ended June 30, 2026. During prepared remarks by Genie Energy's Chief Executive Officer, Michael Stein; and Chief Financial Officer, Avi Goldin. [Operator Instructions] Any forward-looking statements made during this conference call, either in the prepared remarks or in Q&A session, whether general or specific in nature, are subject to risks and uncertainties that may cause actual results to differ materially from those which the company anticipates. These risks and uncertainties include, but are not limited to the specific risks and uncertainties discussed in the reports that Genie Energy files periodically with the SEC. Genie Energy assumes no obligation either to update any forward-looking statements that they may have made or may make or to update the factors that may cause actual results to differ materially from those that they forecast. In their presentation or in the Q&A session, Genie Energy's management may refer to adjusted EBITDA and other non-GAAP measures. The schedule provided in the Genie Energy earnings release reconciles adjusted EBITDA to the nearest corresponding GAAP measures. Please note that the Genie Energy earnings release is available on the Investor Relations page of the Genie website. The earnings release has also been filed on Form 8-K with the SEC. I will now turn the conference over to Michael Stein. Michael Stein: Thank you, operator. In the second quarter, Genie delivered strong bottom line results in both operating segments while continuing to invest in growth opportunities across our businesses and return value to shareholders. At Genie Retail Energy, relatively normalized wholesale energy market conditions enabled us to achieve gross margin on a level comparable to our long-term historical average, and that drove a significant year-over-year improvement in our bottom line results. GRE's top line declined 5%, primarily reflecting the expiration of aggregation deals over the past year. The deals typically generate low-margin revenue, so the impact of their expiration on our bottom line was minimal. At quarter end, we served 345,000 RCEs and 363,000 meters compared to 413,000 RCEs and 419,000 meters a year earlier. During the second quarter, we added 65,000 gross new customers compared to 70,000 a year earlier. Total customer acquisition expense increased materially as we acquired a higher percentage of customers through higher cost of acquisition channels and fewer through lower-cost channels. We approach these low-cost channels opportunistically as they generate lower margin customers compared to higher cost channels. We allowed low-cost channel acquisition volumes to fluctuate depending on how competitive market rates compare to the incumbent utilities offerings. In the second quarter, with these low-cost channels underperforming, we increased our investment in acquisitions through higher cost channels, increasing our base of higher lifetime value customers and building a tailwind that we expect to positively impact the coming quarters. Acquisitions through high-cost channels also enabled us to prioritize further diversification of our customer base through strong growth in some of our newer markets, including Texas power market and California's gas market. At GREW, the top line was flat year-over-year. However, contributions from our Diversegy energy brokerage and Genie Solar businesses enabled the segment to achieve positive EBITDA. Diversegy had a particularly strong quarter as it continues to execute its growth strategy. Both Diversegy and Genie Solar are on track to further expand the bottom lines in the coming quarters. Diversegy continues to build its book of business at a double-digit annualized growth rate. Even better because new business frequently entails upfront customer payments, growth from a cash perspective has been stronger than what is reflected in EBITDA. Moreover, this new business will drive revenue growth for several years to come as we earn revenue over the lifetime of the contracts. One of the key drivers for Diversegy's expansion has been our ability to leverage AI to optimize our customer acquisition efforts across channels, analyzing the energy requirements of our customers and their industries so that we can tailor our offerings to meet their needs with greater precision. At Genie Solar, we turned on our second community solar project in New York State late in the second quarter, and that will positively impact results starting in the third quarter. GREW's second quarter's results also reflected our continued investment in several early-stage growth initiatives, most notably at Roded. As we've discussed previously, Roded utilizes a patented recycling technology to manufacture useful plastic products from agricultural and other plastic waste. At Roded, we made terrific progress during the quarter. The company continued to expand production in Israel to meet strong local demand for its pallet products. In fact, we already are approaching the production capacity at our current facility and received a commitment from the Israeli Minister of Environment to underwrite a material portion of the cost of constructing a larger manufacturing plant. To diversify Roded's revenue, we are preparing to begin manufacturing a second product, utilizing the same recycled plastic feedstock. Also, the company was certified as a producer of plastic credits through Verra's Plastic Waste Reduced Standard program, a global platform to incentivize businesses to utilize the vast quantities of waste plastic that otherwise would end up in our oceans or our landfills. This certification will enable Roded to enhance profitability through the monetization of credits it receives for the plastic it collects and converts to finished product. Looking a little further ahead, Roded is moving forward on an international expansion. The company has identified several potential manufacturing sites in the Southeastern U.S. and is now working to select the final site, hire key managers and design the initial pallets it will offer for the North American market. To wrap up, at Genie Energy, for the balance of the year, we're looking to boost cash generation across GRE, Diversegy and Genie Solar, make good operational progress in our growth initiatives and return value to shareholders through opportunistic stock purchases and our quarterly dividends. Now I will turn the call over to Avi for his discussion of our financial results. Avi Goldin: Thank you, Michael, and thanks to everyone on the call for joining us this morning. My remarks today cover our financial results for the 3 months ended June 30, 2026. In my commentary, I'll compare the results for the second quarter of 2026 to the second quarter of 2025 to remove from consideration the seasonal factors that impact our results, particularly our retail energy business. The second quarter, which includes spring and the early stages of the summer cooling season, is typically characterized by moderate levels of electricity consumption and low levels of natural gas consumption. The quarter's financial results were highlighted by strong margin and adjusted EBITDA expansion at GRE and profitability at GREW, both of which helped to drive an increase in our consolidated bottom line performance. Consolidated revenue in the second quarter decreased 4.6% to $100.4 million. GRE revenue decreased 4.9% to $94.1 million as our customer base contracted due to the expiration of low-margin aggregation deals. The resulting decrease in consumption was partially offset by increased revenue per unit sold for both electricity and natural gas. Sales of electricity, which contributed 89% of GRE's revenues decreased 7% to $83.6 million. Kilowatt hours sold decreased by 17%, while revenue per kilowatt hour sold increased 12%. Natural gas revenue decreased 16.2% to $10.6 million. Therm sold decreased 23%, while revenue per therm sold increased 50%. At GREW second quarter revenue was relatively unchanged at $6.3 million. Consolidated gross profit increased 43.4% to $33.7 million, while gross margin increased to 33.5%. At GRE, gross profit increased 42.2% to $30.3 million and gross margin increased to 32.2%. GRE achieved a gross margin within historical range given normalized commodity market conditions. Note that the year ago second quarter was impacted by unusually low natural gas profitability. At GREW gross profit increased 55% to $3.3 million, driven by increased contribution from both Diversegy and Genie Solar, the two more mature businesses within the segment, both of which are already generating cash. Consolidated SG&A increased 28% to $27.2 million, largely reflecting a mix shift to Genie Retail's customer acquisition channels towards higher per acquisition cost methods. Despite their higher costs upfront, these channels typically generate customer cohorts with higher customer lifetime values. The gross profit increase at GRE drove a $4.3 million year-over-year increase in consolidated income from operations to $6.5 million and a $4.5 million increase in adjusted EBITDA to $7.5 million. At GRE, income from operations increased 108.3% to $8.3 million and adjusted EBITDA increased 96.7% to $8.7 million. Strong contributions from Diversegy and Genie Solar enabled GREW to achieve profitability. Income from operations increased to $100,000 from a loss from operations of $200,000 a year earlier, and adjusted EBITDA increased to $300,000 from an adjusted EBITDA loss of $97,000 in the second quarter of 2025. Consolidated net income attributable to Genie common stockholders was $11.4 million or $0.43 per diluted share compared to $2.3 million or $0.09 per share a year earlier. Turning now to the balance sheet. At June 30, 2026, cash, cash equivalents, long-and-short-term restricted cash and marketable equity securities totaled $204.3 million. Working capital was $199.6 million. Our net debt totaled $6.8 million, the largest component of which is the financing of our portfolio of operational solar arrays. We repurchased approximately 47,000 shares of our Class B common stock in the second quarter for $659,000, and we paid our regular quarterly dividend, returning an additional $2 million directly to our stockholders. Wrapping up, normalized energy market conditions helped us to restore margins at GRE to their long-term range, while GREW generated positive EBITDA even as we continue to invest in early-stage growth initiatives. The improved performance has helped to significantly enhance our profitability, while our balance sheet remains strong with robust levels of cash and minimal debt. Operator, back to you for Q&A. Operator: [Operator Instructions] First question today is coming from Matvey Tayts from Freedom Broker. Matvey Tayts: Congratulations for the strong results. So my question is about the other income, which is quite significantly impact the bottom line. So -- can you elaborate a little bit the breakdown of this other income? And how do you see it going forward towards the end of the year? Avi Goldin: Sure. This is Avi. Thank you for the question. So the other income line reflects the change in value of other investments that we have, primarily when we invest balance sheet cash. So as you're aware, we have a very strong cash position. So when we make investments that are to use that cash position to get value, those flow through the other investment line. So it's difficult to predict what those are going to be, but we expect that to hopefully continue to be positive for the company. Matvey Tayts: Okay. Great. Yes. And one more question is the -- so we see that there is some sort of sensitivity of your profitability and the gas prices basically, which drives also electricity prices. So -- and now with the lower gas prices in second quarter, so we see positive impact also on your profitability and operating results. So how do you see it going forward towards the year-end? So do you expect also this trend to continue? Or is it something to be revised from this point of view? Michael Stein: Thanks for the question. It's hard to predict, obviously, what markets are going to do. But we feel like we're in a good position right now through the rest of the year to capitalize on where the market is and again, still achieve the guidance that we set out. Matvey Tayts: Yes. Okay. Great. So -- and again, this higher general expenses is, as you said, as you mentioned, it's more expensive acquisition of new clients. So we also see it kind of to be paid back in the future as it's more profitable sort of clients you're onboarding through this higher general expense. Is it correct, what I understood? Michael Stein: Yes. So our sales channels or our customer acquisition channels in general are a combination of our door-to-door telemarketing and digital marketing, direct mail and other kinds of marketing efforts that we do. And some of those channels generally yield higher-margin customers and some of those channels generally are lower cost, but yield and yield lower-margin customers. So yes, what we were saying is that this quarter, let's say, versus last quarter, when we acquired a similar number of meters this quarter versus last year, the same quarter, the acquisition expense was significantly higher, and that's because the -- because most of the customer acquisition that was done this quarter was dominated by acquiring those higher-margin customers, whereas last year in the same quarter, there was a much higher percentage of that customer acquisition that was coming from the lower cost, the lower margin acquisition channels. Matvey Tayts: Yes, interesting. And the last one, if you for, about this -- your new plastic business, that's like -- maybe you can share with us like estimates what's the overall market value in Israel and Europe, like where you potentially could expand. So just a little bit more on this particular market for the product you now develop. Michael Stein: Yes, for sure. So without getting into specific numbers, what I can tell you is that we are currently, like you said, operating. And like we mentioned on the call, we intend to expand to the U.S., the U.S. being obviously a significantly larger market than Israel. And our plan is all along has been to start with selling pallets and pallets is a huge, huge market. I mean everything that gets shipped essentially goes out on pallets. And it is our hope and intention to take market share in that space. And because our cost of raw materials is significantly lower than that of our competitors who are also doing plastic pallets even for the same level of performance, we think we can take a good deal of market share. Obviously, it takes time to manufacturing, but that. But what's great about the technology and the patents that we have is that the patent is not on creating pallets. The patent is on creating any finished product. And as we mentioned on this call, we're already starting to make our second product custom for our customer. We've already started designing it and working out the details with that customer, very interested. And we know another -- a whole bunch of customers who are also interested in that product. And our intention is to continue to diversify our portfolio of products using the same waste material and the same technology so that the market potential is as large as possible. But obviously, as this thing gets more mature, we intend to share more numbers. Operator: As there are no more questions, this concludes our question-and-answer session and conference call. Thank you for attending today's presentation. You may now disconnect. Before you buy stock in Genie Energy, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Genie Energy wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $400,209!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,375,393!* That performance is why people listen. With a track record of beating the S&P 500 by 4x, Stock Advisor offers a distinct advantage. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built for the long haul. See the 10 stocks » *Stock Advisor returns as of August 13, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Genie Energy (GNE) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

Interested in Genie Energy Ltd.? Here are five stocks we like better. Genie Energy’s profitability improved sharply in Q2 2026 despite a 4.6% revenue decline to $100.4 million. Gross profit rose 43.4% to $33.7 million, adjusted EBITDA increased to $7.5 million, and net income reached $11.4 million, or $0.42 per diluted share. Retail energy margins returned to historical levels as wholesale market conditions normalized, lifting GRE gross profit 42.2% to $30.3 million. Customer counts declined year over year, but the company is emphasizing higher-cost acquisition channels intended to generate greater lifetime value. Genie’s growth segment achieved positive EBITDA for the first time, supported by Diversegy and Genie Solar, while Roded advanced plans to expand recycled-plastic manufacturing. The company ended the quarter with $204.3 million in cash and securities, minimal net debt, and continued share repurchases and dividend payments. Will Fed Rate-Hike Pause Lead To Small-Cap Outperformance? Genie Energy (NYSE:GNE) reported higher second-quarter profitability as normalized wholesale energy market conditions restored margins at its retail energy business, while its growth segment reached positive EBITDA. For the three months ended June 30, 2026, consolidated revenue declined 4.6% year over year to $100.4 million. However, consolidated gross profit rose 43.4% to $33.7 million, producing a gross margin of 33.5%. Income from operations increased by $4.3 million to $6.5 million, while adjusted EBITDA rose by $4.5 million to $7.5 million. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling Don't Overlook This Reliable, Dividend-Paying Sector Net income attributable to Genie common stockholders reached $11.4 million, or $0.42 per diluted share, compared with $2.3 million, or $0.09 per share, in the prior-year quarter. Genie Retail Energy, or GRE, generated revenue of $94.1 million, down 4.9% from a year earlier. CEO Michael Stein said the decline primarily reflected the expiration of aggregation deals, which generally carry low margins. He said the impact of those expirations on bottom-line results was minimal. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High GRE's gross profit increased 42.2% to $30.3 million, while its gross margin rose to 32.2%. CFO Avi Goldin said the business achieved a margin within its historical range as commodity market conditions normalized. The year-earlier period had been affected by unusually low natural gas profitability, he said. Electricity sales, which accounted for 89% of GRE revenue, fell 7% to $83.6 million. Kilowatt-hours sold declined 17%, while revenue per kilowatt-hour increased 12%. Natural gas revenue declined 16.2% to $10.6 million, with therms sold down 23% and revenue per therm increasing 50%. → No Hangover: Revisiting Microsoft One Week After Earnings At the end of the quarter, GRE served 345,000 retail customer equivalents and 363,000 meters, compared with 413,000 RCEs and 419,000 meters a year earlier. The company added 65,000 gross new customers during the quarter, compared with 70,000 in the same period of 2025. Customer acquisition expense increased materially as GRE shifted more of its marketing toward higher-cost channels that management said typically generate customers with greater lifetime value. Stein said lower-cost channels can produce lower-margin customers and are used opportunistically depending on the competitiveness of market rates relative to incumbent utility offerings. He added that the company increased acquisitions through higher-cost channels when lower-cost channels underperformed, with growth in newer markets including Texas electricity and California natural gas. Revenue in Genie’s GREW segment was essentially unchanged from a year earlier at $6.3 million. Still, gross profit increased 55% to $3.3 million, driven by increased contributions from energy brokerage Diversegy and Genie Solar. GREW reported income from operations of $100,000, compared with a $200,000 operating loss in the prior-year quarter. Adjusted EBITDA was $300,000, compared with an adjusted EBITDA loss of $97,000 a year earlier. Stein said Diversegy continued to build its book of business at a double-digit annualized growth rate. He noted that new customer business frequently involves upfront payments, meaning cash growth has been stronger than what is reflected in EBITDA. Revenue from those contracts is earned over their terms, he said. Diversegy has also used artificial intelligence to optimize customer acquisition across channels and tailor offerings based on customers’ energy requirements and industries, Stein said. Genie Solar began operating its second New York community solar project late in the second quarter. Stein said the project is expected to begin contributing to results in the third quarter. GREW’s results also included continuing investments in early-stage initiatives, particularly Roded, which uses patented recycling technology to turn agricultural and other plastic waste into plastic products. According to Stein, Roded expanded production in Israel to meet demand for its pallet products and is approaching the capacity of its current facility. The company received a commitment from Israel’s Ministry of Environmental Protection to underwrite a material portion of the cost of a larger manufacturing plant, he said. Roded is also preparing to manufacture a second product using the same recycled plastic feedstock. In addition, it was certified as a producer of plastic credits under Verra’s Plastic Waste Reduction Standard Program, which management said could allow it to monetize credits associated with collected and converted waste plastic. The company has identified potential manufacturing sites in the southeastern United States and is working to select a location, hire managers and design its initial North American pallet offerings. Stein said the company ultimately intends to diversify its product portfolio beyond pallets using the same base materials and technology. As of June 30, Genie held $204.3 million in cash equivalents, restricted cash and marketable equity securities, with working capital of $199.6 million. Net debt totaled $6.8 million, primarily related to financing for its operating solar arrays. During the quarter, the company repurchased approximately 47,000 Class B common shares for $659,000 and paid $2 million through its regular quarterly dividend. Goldin said the company’s improved profitability and balance sheet position leave it with robust cash and minimal debt. Stein said management’s priorities for the balance of the year include increasing cash generation at GRE, Diversegy and Genie Solar, advancing growth initiatives, and returning capital through opportunistic share purchases and quarterly dividends. Genie Energy Ltd. (NYSE: GNE) is a diversified energy holding company that operates through two primary segments: upstream oil and natural gas exploration and retail energy supply. Its exploration arm, Genie Energy E&P, pursues development of oil shale resources and conventional hydrocarbon deposits, holding licenses for projects in regions such as Israel's Shefela basin and Jordan's oil shale formations. The division also explores select opportunities in North America, leveraging technical partnerships to advance resource evaluation and pilot production programs. Genie Retail Energy provides electricity and natural gas to residential and small commercial customers under regulated and deregulated frameworks. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Genie Energy Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

This article first appeared on GuruFocus. Consolidated Revenue: Decreased 4.6% to $100.4 million. GRE Revenue: Decreased 4.9% to $94.1 million. Electricity Revenue: Decreased 7% to $83.6 million, with kilowatt hours sold down 17% and revenue per kilowatt hour up 12%. Natural Gas Revenue: Decreased 16.2% to $10.6 million, with therms sold down 23% and revenue per therm up 50%. Groot Revenue: Relatively unchanged at $6.3 million. Consolidated Gross Profit: Increased 43.4% to $33.7 million, with gross margin at 33.5%. GRE Gross Profit: Increased 42.2% to $30.3 million, with gross margin at 32.2%. Groot Gross Profit: Increased 55% to $3.3 million. Consolidated SG&A: Increased 28% to $27.2 million. Consolidated Income from Operations: Increased to $6.5 million. Consolidated Adjusted EBITDA: Increased to $7.5 million. GRE Income from Operations: Increased 108.3% to $8.3 million. GRE Adjusted EBITDA: Increased 96.7% to $8.7 million. Groot Income from Operations: Increased to $100,000 from a loss of $200,000 a year earlier. Groot Adjusted EBITDA: Increased to $300,000 from a loss of $97,000 in the prior-year quarter. Net Income: Attributable to Genie common stockholders was $11.4 million, or $0.43 per diluted share, compared to $2.3 million, or $0.09 per share, a year earlier. Cash and Investments: Cash equivalents, restricted cash, and marketable equity securities totaled $204.3 million at June 30, 2026. Working Capital: $199.6 million. Net Debt: Totaled $6.8 million. Customer Metrics: Served 345,000 RCEs and 363,000 meters, compared to 413,000 RCEs and 419,000 meters a year earlier; added 65,000 gross new customers versus 70,000 a year earlier. Warning! GuruFocus has detected 2 Warning Signs with BGSF. Is GNE fairly valued? Test your thesis with our free DCF calculator. Release Date: August 06, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Genie Energy Ltd (NYSE:GNE) delivered strong bottom-line results in Q2 2026, with consolidated net income rising to $11.4 million ($0.43 per diluted share) from $2.3 million ($0.09 per share) a year earlier. GRE's gross margin improved to 32.2% in Q2 2026, up from 42.2% year-over-year, driven by normalized wholesale energy market conditions that restored margins to historical averages. Groot achieved positive EBITDA of $300,000 in Q2 2026, a significant improvement from a loss of $97,000 in the prior-year quarter, supported by strong contributions from DiversiG and Genie Solar. DiversiG continues to grow its book of business at a double-digit annualized rate, with new contracts generating upfront cash payments that will drive revenue growth for several years. Roded made significant progress, including expanding production in Israel, receiving government funding for a larger plant, and obtaining certification for plastic credits, which will enhance profitability. Genie Energy Ltd (NYSE:GNE) maintains a strong balance sheet with $204.3 million in cash and marketable securities, minimal net debt of $6.8 million, and returned $2.7 million to shareholders through dividends and buybacks in Q2. GRE's top-line revenue declined 5% year-over-year in Q2 2026, primarily due to the expiration of low-margin aggregation deals, which reduced customer count to 345,000 RCEs from 413,000 a year earlier. Total customer acquisition expense increased materially in Q2 2026, as the company shifted to higher-cost channels, which pressured SG&A and operating expenses. Consolidated SG&A expenses rose 28% year-over-year to $27.2 million, reflecting the higher cost of acquiring customers through more expensive channels. The company's customer base contracted significantly, with RCEs down 16.5% and meters down 13.4% year-over-year, indicating ongoing attrition in the retail energy segment. Groot's top-line revenue remained flat at $6.3 million in Q2 2026, showing limited growth despite the positive EBITDA, as early-stage investments like Roded continue to weigh on profitability. The company's other income, which boosted bottom-line results, is unpredictable and tied to marketable securities, making future contributions uncertain. Q: Can you elaborate on the breakdown of "other income," which significantly impacted the bottom line, and how should we view it going forward?A: Avi Goldman (CFO) explained that the "other income" line reflects the change in value of other investments made with the company's strong balance sheet cash position. He noted it is difficult to predict these fluctuations, but the company expects this line to hopefully continue to be positive. Q: Given the sensitivity of profitability to gas and electricity prices, do you expect the positive impact from lower gas prices in Q2 to continue through the end of the year?A: A corporate representative stated that while it is hard to predict market movements, the company feels it is in a good position to capitalize on current market conditions for the rest of the year and still achieve its previously set guidance. Q: Is it correct that the higher general expenses are due to acquiring more expensive, but ultimately more profitable, new clients?A: A corporate representative confirmed this, explaining that customer acquisition channels vary in cost and yield. The higher expense in Q2 was due to a shift towards higher-cost channels that generate customers with higher lifetime value, whereas the prior year quarter had a higher percentage of lower-cost, lower-margin acquisitions. Q: Can you share estimates for the overall market value for the new plastic recycling business (Roded) in Israel, Europe, and potential expansion areas?A: A corporate representative declined to give specific numbers but highlighted the plan to expand to the US, a significantly larger market. They emphasized that the pallet market is huge, and because their raw material costs are lower than competitors, they believe they can take market share. The patent covers creating any finished product, not just pallets, and they are already developing a second product to diversify their portfolio. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

NEWARK, NJ, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Genie Energy, Ltd. (NYSE: GNE), a leading retail energy and renewable energy solutions provider, today announced results for the second quarter of 2026. Consolidated Highlights (Unless otherwise noted, results are for 2Q26 and are compared to 2Q25) Management Commentary - Michael Stein, Chief Executive Officer Genie delivered strong bottom line results in the second quarter. At Genie Retail Energy, relatively normalized wholesale energy market conditions enabled us to achieve a gross margin comparable to our long-term historical average, and that drove a significant year-over-year improvement in our bottom-line results even as we increased our customer acquisition spend. Compared to the prior year quarter, customer acquisitions in 2Q26 skewed toward high value customers, which we expect to favorably impact results in the coming quarters. Customer acquisitions also continue to diversify our customer base, with notable growth in the Texas power and California gas markets. At GREW, the topline was flat year-over-year. However, the segment generated positive EBITDA powered by contributions from our Diversegy energy brokerage and Genie Solar businesses. Diversegy had a particularly strong quarter of cash generation while executing on its growth strategy. GREW’s results also reflected our ongoing investment in Roded, our plastic recycling and manufacturing business, and several other early-stage growth initiatives. Both Diversegy and Genie Solar are on track to expand their bottom lines in the coming quarters. Diversegy continues to build its book of business and Genie Solar will benefit from its second community solar project which came online late in the second quarter. For the balance of the year, we are working to boost cash generation across GRE, Diversegy and Genie Solar, make good operational progress in our growth initiatives, and return value to shareholders through opportunistic stock repurchases and our quarterly dividends. We are maintaining our full year 2026 Adjusted EBITDA guidance of $32.5 to $40 million. Segment Highlights Genie Retail Energy (GRE) The year-over-year increases in GRE's income from operations and Adjusted EBITDA were driven by gross margin expansion. The increase in SG&A expense primarily reflected higher customer acquisition spending resulting from a shift in the sales mix to certain high value customer segments with higher costs of acquisition. The year over year decreases in RCE's and meters largely reflects the expiration of low margin aggregation deals. Genie Renewables (GREW) GREW achieved positive Adjusted EBITDA in 2Q26 as Diversegy and Genie Solar's margins strengthened. Genie Solar's year-over-year results benefitted from the opening of its first of two community solar projects in New York state during 4Q25. (The second project began operations late in 2Q26, and had a small impact on the quarter's results.) GREW results also reflect Genie's investments in early-stage growth initiatives. * Numbers may not foot due to roundingnm - not meaningful Balance Sheet Highlights As of June 30, 2026, Genie reported cash and cash equivalents, short and long-term restricted cash, and marketable equity securities of $204.3 million. At the close of 1Q26 on March 31, 2026, these line items totaled $199.8 million. Total assets as of June 30, 2026 were $369.7 million. Liabilities totaled $114.5 million, and working capital (current assets less current liabilities) totaled $199.6 million. Trended Financial Information* Conference Call with Genie Energy Management At 8:30 AM Eastern this morning, Genie Energy’s CEO, Michael Stein, and CFO, Avi Goldin, will host a conference call to discuss the Company's financial and operational results, business outlook, and strategy. The call will begin with their remarks, followed by Q&A with investors. To participate in the conference call, dial 1-877-545-0320 (U.S.) or 1-973-528-0002 (international) and provide the following participant access code: 623488. Approximately three hours after the call, a call replay will be accessible by dialing 1-877-481-4010 (U.S.) or 1-919-882-2331 (international) and providing the replay passcode: 54309. The replay will remain available through Thursday, August 20, 2026. In addition, a recording of the call will be available for playback through the Genie Energy website. About Genie Energy Ltd. Genie Energy Ltd., (NYSE: GNE) is a leading retail energy and renewable energy solutions provider. The Genie Retail Energy division (GRE) supplies electricity, including electricity from renewable resources, and natural gas to residential and small business customers in the United States. The Genie Renewables division (GREW) holds Genie’s energy brokerage and advisory business, a portfolio of solar generation assets, and early stage growth initiatives. For more information, visit https://genie.com/ In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words "believe," "anticipate," "expect," "plan," "intend," "estimate, "target" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in our most recent report on SEC Form 10-K (under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations"), which may be revised or supplemented in subsequent reports on SEC Forms 10-Q and 8-K. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise. Contact Bill UlreyInvestor RelationsGenie Energy, [email protected] GENIE ENERGY LTD.CONDENSED CONSOLIDATED BALANCE SHEETS(in thousands, except per share amounts) GENIE ENERGY LTD.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(Unaudited) GENIE ENERGY LTD.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) Reconciliation of Non-GAAP Financial Measures for 2Q26 In addition to disclosing financial results that are determined in accordance with generally accepted accounting principles in the United States of America (GAAP), Genie Energy discloses Adjusted EBITDA for GRE and on a consolidated basis. Adjusted EBITDA is a non-GAAP financial measure. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. Genie’s measure of consolidated Adjusted EBITDA starts with income from operations and adds back depreciation, amortization, and stock-based compensation and deducts impairment of assets and equity in the loss of equity method investees, net. Management believes that Genie’s measure of Adjusted EBITDA provides useful information to both management and investors by excluding certain expenses that may not be indicative of Genie’s or GRE’s core operating results. Management uses Adjusted EBITDA, among other measures, as relevant indicators of core operational strengths in its financial and operational decision-making. Management also uses Adjusted EBITDA to evaluate operating performance in relation to Genie’s competitors. Disclosure of Adjusted EBITDA may be useful to investors in evaluating performance and allows for greater transparency to the underlying supplemental information used by management in its financial and operational decision-making. In addition, Genie Energy has historically reported Adjusted EBITDA and believes it is commonly used by readers of financial information in assessing performance. Therefore, the inclusion of comparative numbers provides consistency in financial reporting at this time. Management refers to Adjusted EBITDA as well as the GAAP measures revenue, gross profit, and income from operations, as well as net income, on a consolidated level to facilitate internal and external comparisons to Genie's historical operating results, in making operating decisions, for budget and planning purposes, and to form the basis upon which management is compensated. Although depreciation and amortization are considered operating costs under GAAP, they primarily represent the non-cash current period allocation of costs associated with long-lived assets acquired or constructed in prior periods. Genie’s operating results exclusive of depreciation and amortization are therefore useful indicators of its current performance. Stock-based compensation recognized by Genie Energy and other companies may not be comparable because of the various valuation methodologies, subjective assumptions, and the variety of types of awards that are permitted under GAAP. Stock-based compensation is excluded from Genie’s calculation of Adjusted EBITDA because management believes this allows investors to make more meaningful comparisons of the operating results of Genie’s core business with the results of other companies. However, stock-based compensation will continue to be a significant expense for Genie Energy for the foreseeable future and an important part of employees’ compensation that impacts their performance. Adjusted EBITDA should be considered in addition to, not as a substitute for, or superior to, revenue, gross profit, income from operations, cash flow from operating activities, net income, basic and diluted earnings per share or other measures of liquidity and financial performance prepared in accordance with GAAP. In addition, Genie’s measurement of Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. Impairment of assets is a component of income (loss) from operations that is excluded from the calculation of Adjusted EBITDA. The impairment of assets is primarily dictated by events and circumstances outside the control of management that trigger an impairment analysis. While there may be similar charges in other periods, the nature and magnitude of these charges can fluctuate markedly and do not reflect the performance of Genie's continuing operations. Following are the reconciliations of Adjusted EBITDA on a consolidated basis and for GRE to its most directly comparable GAAP measure, income from operations. Non-GAAP Reconciliation - Consolidated Adjusted EBITDA Non-GAAP Reconciliation - GRE Adjusted EBITDA Non-GAAP Reconciliation - GREW Adjusted EBITDA # # #

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Achieved a significant bottom-line improvement at Genie Retail Energy (GRE) as wholesale energy markets normalized, allowing gross margins to return to long-term historical averages. Attributed a 5% decline in GRE top-line revenue to the intentional expiration of low-margin aggregation deals, which had minimal impact on overall profitability. Shifted customer acquisition strategy toward higher-cost channels to prioritize the acquisition of higher lifetime value (LTV) customers over lower-margin, opportunistic channels. Leveraged AI within the Diversegy brokerage business to optimize customer acquisition by precisely tailoring energy offerings to specific industry requirements. Expanded the Roded plastic recycling business by approaching full production capacity in Israel and securing government underwriting for a larger manufacturing facility. Diversified Roded's revenue streams by initiating the manufacture of a second product line and achieving certification to monetize plastic waste reduction credits. Expects the recent investment in high-cost customer acquisition channels to create a tailwind for profitability in the coming quarters as higher-margin cohorts mature. Anticipates positive financial contributions starting in the third quarter from the newly activated second community solar project in New York State. Plans to expand Roded's manufacturing footprint into the Southeastern U.S., with current efforts focused on site selection and North American product design. Projects continued double-digit annualized growth for Diversegy, with cash flow expected to outpace EBITDA due to upfront customer payment structures. Maintains confidence in achieving previously set annual guidance based on current market positioning through the remainder of the year. Noted that customer acquisition costs increased materially year-over-year due to the strategic mix shift toward more expensive, higher-margin marketing channels. Identified 'Other Income' as a significant but volatile contributor to the bottom line, reflecting valuation changes in investments made with balance sheet cash. Highlighted the sensitivity of retail profitability to natural gas and electricity price fluctuations, though management views current conditions as stable. Flagged that while the top line was flat at GREW, the segment achieved positive EBITDA through contributions from more mature units like Diversegy and Genie Solar. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management explained that other income reflects changes in the value of investments made using the company's strong cash position. Acknowledged that while these gains are difficult to predict, they expect the trend to remain positive given their current cash management strategy. Management stated that while market movements are hard to predict, they are currently well-positioned to capitalize on normalized conditions. Confirmed that the current market environment supports the company's ability to meet its existing annual guidance. Clarified that the increase in acquisition expense was driven by a deliberate move away from low-cost channels that were underperforming relative to utility offerings. Emphasized that the current customer cohort is dominated by higher-margin users, which justifies the higher upfront investment compared to the prior year. Management highlighted that their patented technology allows for significantly lower raw material costs compared to competitors in the plastic pallet market. Revealed that the patent covers any finished product, not just pallets, allowing for a broad diversification of the product portfolio as they expand into the U.S. market.

NEWARK, NJ, July 22, 2026 (GLOBE NEWSWIRE) -- Genie Energy Ltd., (NYSE: GNE), a leading retail energy and renewable energy solutions provider, will announce financial and operational results for the three months ended June 30, 2026 on Thursday, August 6, 2026. Genie Energy will announce its results through an earnings release issued over a wire service and posted in the “Investors” section of the Genie Energy website (https://genie.com/investors/quarterly-earnings/) at 7:30 AM Eastern. The release also will be filed in a current report (Form 8-K) with the SEC. At 8:30 AM Eastern, Genie Energy’s management will host a conference call to discuss financial and operational results, business outlook, and strategy. The call will begin with management’s remarks followed by Q&A with investors. To participate in the conference call, dial 877-545-0320 (from the US) or 1-973-528-0002 (international) and provide the following participant access code: 623488. Approximately three hours after the call, a call replay will be accessible by dialing 1-877-481-4010 (toll-free from the US) or 1-919-882-2331 (international) and providing the replay passcode: 54309. The replay will remain available through Thursday, August 20, 2026. In addition, a recording of the call will be available for playback through the Genie Energy website. In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate, “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in our most recent report on SEC Form 10-K (under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”), which may be revised or supplemented in subsequent reports on SEC Forms 10-Q and 8-K. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise. About Genie Energy Ltd.: Genie Energy Ltd., (NYSE: GNE) is a leading retail energy and renewable energy solutions provider. The Genie Retail Energy division (GRE) supplies electricity, including electricity from renewable resources, and natural gas to residential and small business customers in the United States. The Genie Renewables division (GREW) holds Genie’s energy brokerage and advisory business, a portfolio of solar generation assets, and early-stage growth initiatives. For more information, visit Genie.com. Contact: Genie Energy Investor RelationsBill UlreyE-mail: [email protected] # # #

Shares of Genie Energy, Ltd. (GNE) slipped 0.7% following the release of its first-quarter 2026 results compared with the S&P 500’s 0.4% decline over the same period. However, over the past month, the stock has gained 1.3%, trailing the S&P 500’s 5.2% advance. Genie Energy reported mixed first-quarter 2026 results, with revenues reaching a record quarterly level, even as profitability declined sharply from the prior-year period. Total revenues increased 4% year over year to $142.3 million from $136.8 million, supported by higher natural gas sales and strong growth in the renewables segment. However, gross profit fell 20.2% to $29.8 million, while gross margin narrowed to 20.9% from 27.3%. Net income attributable to Genie common stockholders dropped 73.4% to $2.8 million from $10.4 million a year earlier. Diluted earnings per share declined to 11 cents from 40 cents in the prior-year quarter. Adjusted EBITDA decreased 80.4% year over year to $2.8 million from $14.4 million. Genie Energy Ltd. price-consensus-eps-surprise-chart | Genie Energy Ltd. Quote Retail Energy Performance Weakens Amid Commodity Volatility Genie Retail Energy (“GRE”), the company’s largest segment, generated revenues of $134.8 million in the quarter, up 1.7% year over year. Electricity revenues declined 4.5% to $99.4 million, while natural gas revenues rose 24.4% to $35.4 million. The company attributed the revenue growth primarily to volatility in energy commodity markets that led to higher energy prices. Despite the revenue increase, profitability in the segment deteriorated significantly. GRE income from operations fell 60.6% to $6.6 million, while Adjusted EBITDA declined 59.1% to $7 million. Gross margin for the segment narrowed to 21.6% from 27.1% in the year-ago quarter. Management said that severe winter weather and extreme cold in the first two months of the quarter drove sharp increases in electricity and gas procurement costs, compressing margins. During the earnings call, management noted that power and gas costs increased 28% and 55% per unit, respectively, though hedging and pricing strategies partially offset the impact. Operationally, GRE ended the quarter with 354,000 residential customer equivalents (RCEs), down 11.7% year over year, and 364,000 meters, down 11.8%. However, gross meter additions increased 38.2% to 84,000 during the quarter. Churn edged up to 5.8% from 5.5%. Management stated that the company intentionally reduced lower-margin municipal aggregation customers over the past year to improve customer quality. Renewables Segment Posts Higher Revenues but Wider Loss Genie Renewables (“GREW”) posted revenues of $7.5 million, up 74.2% year over year, driven by sales of Genie Solar’s remaining solar panel inventory and growth in several new initiatives. However, the segment recorded a loss from operations of $2.4 million compared with a loss of $0.9 million in the prior-year quarter. The decline in profitability was attributed to a write-down of the carrying value of remaining solar panel inventory and increased investment in early-stage growth initiatives. Gross margin in the renewables segment contracted sharply to 9.9% from 33.7% a year earlier. Management highlighted progress in several renewable and emerging businesses. Genie Solar completed and powered up its Lansing, N.Y., community solar project in fourth-quarter 2025 and expects to complete another pre-operational community solar project during the second quarter of 2026. The company said that Genie Solar is expected to remain profitable for the rest of 2026. GNE Management Lowers Full-Year Outlook Genie Energy lowered its full-year 2026 Adjusted EBITDA guidance to a range of $32.5-$40 million from the prior range of $40-$50 million. CEO Michael Stein said that the revision reflected margin compression in retail energy operations and increased spending on customer acquisition and growth initiatives. Management indicated that operating conditions improved in March and expects stronger performance through the remainder of the year. During the conference call, Stein described GRE as a “strongly cash-generative business” that periodically experiences margin compression but also benefits from periods of elevated profitability. The company also emphasized growth opportunities in Roded, its majority-owned venture focused on converting agricultural waste plastics into commercial plastic products. Management said that Roded has already reached capacity on its first production line in Israel and is building a second line, expected to begin operations during the current quarter. GNE’s Balance Sheet and Capital Allocation Genie Energy ended the quarter with $199.8 million in cash, cash equivalents, restricted cash and marketable equity securities. Total assets stood at $376.5 million, while liabilities summed at $131.2 million. Working capital was $188.4 million. Cash flow from continuing operating activities turned negative at $6.5 million compared to the positive operating cash flow of $13.5 million in the year-ago quarter. The company declared a quarterly dividend of 7.5 cents per share payable in June. Other Developments at GNE During the quarter, Genie Energy continued restructuring certain renewable operations, including the wind-down of legacy solar activities and the liquidation of remaining solar panel inventory. The company also increased investments in early-stage ventures, including Roded and insurance-related operations. Management said that the insurance subsidiary experienced growth in fourth-quarter 2025 and first-quarter 2026 sales activity, with revenue contributions beginning to emerge during the quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Genie Energy Ltd. (GNE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Image source: The Motley Fool. Thursday, May 14, 2026 at 8:30 a.m. ET Chief Executive Officer — Michael Stein Chief Financial Officer — Avi Goldin Michael Stein: Thank you, operator. GE's first quarter results were mixed as investments in the customer acquisition at GRE and the new business initiatives at GREW, combined with weakness in retail margins negatively impacted our bottom line despite record quarterly revenue. As a result, we are lowering full year 2026 guidance to $32.5 million to $40 million, in adjusted EBITDA from the prior range of $40 million to $50 million. At GRE, challenging commodity market conditions in the first 2 months of the quarter caused by extreme cold compressed margins for both electricity and gas. Thankfully, in March, margins returned to normalized levels in line with our historical averages. We also increased our customer acquisition spend this quarter to acquire 84,000 new retail customers during the first quarter. At March 31, we had 354,000 RCEs and 364,000 meters, achieving net increases of 25,000 RCEs and 18,000 meters in just the first quarter of the year. And unlike last year at this time, when we held a significant number of meters through municipal aggregation deals, our current meters are at higher value. Over the past 12 months, we have significantly reduced the number of low-margin municipal aggregation customers in our book. At GREW, our performance in the first quarter reflected increased investment in several early-stage growth initiatives and a further write-down of our solar panel inventory. Despite the tough first quarter, we expect to see significant improvement throughout 2026. GRE is a resilient, strongly cash-generative business that by its nature, will have episodes of margin compression like this one, but also opportunities for exceptional profitability. Assuming normal wholesale market conditions and with our proven customer acquisition engine, we expect strong performance from GRE for the rest of the year. At GREW, all three strategic areas of our business are in good shape. Diversity continues to grow its book of business and generate cash. Genie Solar is on track to be profitable for the remainder of the year and beyond, and we expect that our key early-stage initiatives collectively will gradually pivot towards profitability as they gain scale in the coming quarters. Among these initiatives, I'm particularly excited by the potential of Roded, our majority-owned venture that has pioneered new techniques for transforming agricultural waste plastics into commercial plastic products with an initial focus on plastic pallet production. Roded has begun to sell its recycled pallets in Israel and has already maxed out the capacity of its first production line. We are building a second line on the same site, and that line is expected to start production in the current quarter, Q2. Meanwhile, we are also evaluating expansion opportunities to add production capacity, both here in the U.S. and in Europe. Collectively, Roded and our other early-stage ventures are gaining scale. By year-end, we plan for them to be at the point they will require lower levels of further investment. Across Genie, we are working hard to maximize the potential in each of our businesses. We are very excited by the opportunities to build both our established and nascent units, and we expect to drive improved performance for the remainder of the year and beyond. Now I will turn the call over to Avi for his discussion of our financial results. Avi Goldin: Thank you, Michael, and thanks to everyone on the call for joining us this morning. My remarks today cover our financial results for the 3 months ended March 31, 2026. In my commentary, I'll compare the results for first quarter of 2026 to the first quarter of 2025 to remove from consideration the seasonal factors that impact our results, particularly within our retail energy business. The first quarter is typically characterized by relatively high levels of per meter electric power and gas consumption as it includes most of the winter's peak heating period in our service areas. Our first quarter's financial results were weaker than usual as volatility within the power markets hurt margins from Genie Retail in the first 2 months of the quarter. This was compounded by higher levels of investment spending in customer acquisition and GRE and in growing our new business initiatives at GREW. As Michael discussed, we already saw improvement in the operating environment in March and are expecting the balance of the year to be more in line with historical performance. Consolidated revenue in the first quarter increased 4% to $142 million, driven by the commodity price environment in our retail business and increased sales of our remaining inventory of solar panels at Genie Solar, although at reduced margins. GRE revenue increased 2% to $134.8 million in the first quarter, driven by a 24% increase in gas sales, partially offset by a 4% decrease in electricity sales. Although we acquired a large number of customers in this quarter, our customer base was still below the year ago level as we did not renew some municipal aggregation deals that expired during the year. At GREW, revenue increased 74% to $7.5 million, primarily reflecting the partial liquidation of Genie Solar panel inventory and the completion of certain legacy projects as we wind down noncore operations there. Consolidated gross profit decreased 20% to $29.8 million for a gross profit margin of 21%, a decrease of 640 basis points compared to the year ago quarter. At GRE, gross profit dipped 19% to $29.1 million and gross profit margin decreased 550 basis points to 21.6%. The decrease resulted from volatility in both our average power and gas costs, driven by the severe winter weather in the earlier part of the quarter. Power and gas costs increased by 28% and 55% per unit, respectively, in the first quarter. We were able to partially mitigate the impact on our results through our hedging and pricing strategies. At GREW, gross profit decreased 49% to $745,000. The decrease primarily reflected the write-down in value and sell-off of our solar panel inventory that Michael mentioned and the impact of our continued wind down of legacy solar operations. Consolidated SG&A expense increased 17% to $27.9 million, driven primarily by the increased customer acquisition expense at GRE and investment in new initiatives in GREW. Consolidated income from operations and adjusted EBITDA, which totaled $1.9 million and $2.8 million on a consolidated basis, respectively, were below our expectations for the quarter for the reasons previously outlined. Diluted EPS for the quarter was $0.11 versus $0.40 a year ago. GRE contributed $6.6 million of income from operations and $7 million in adjusted EBITDA compared to $16.8 million and $17.1 million, respectively, in the year ago quarter. GREW's loss from operations increased to $2.4 million from $855,000 a year ago. GREW's adjusted EBITDA loss increased to $2.3 million from $673,000. The increased loss reflected the impact of the Genie Solar wind down and increased investment in Roded and other early-stage business initiatives. Turning now to the balance sheet. At March 31, 2026, cash, cash equivalents, restricted cash and marketable securities totaled $199.8 million and working capital was $188.4 million. Our debt current and noncurrent totaled $6.8 million, the largest component of which was financing for our portfolio of operational solar arrays. To wrap up, this was a tough financial quarter whose impact was reflected in our revised 2026 guidance. Looking forward, we expect margins to strengthen within retail and the investments they are making in growth to drive strong results. We remain in a solid financial position with a strong balance sheet and adequate capitalization to continue returning value to shareholders while executing on our growth plan. Operator, back to you for Q&A. Operator: [Operator Instructions] We have a question from Matvey Tayts. Matvey Tayts: Can you hear me? Avi Goldin: Yes, we hear you. Matvey Tayts: Okay. Great. So my question is about SG&A. To what extent it's related to the number of acquisitions that you have? And how do you see it going forward towards the end of the year? Will it be as expensive as in first quarter or probably there is some other like additional factor, which I have to take into consideration for looking forward? Michael Stein: Yes. So the additional sales expense is somewhere in the neighborhood of $3 million for the quarter for the additional meters that we were able to acquire. Whether or not it will continue throughout the year is dependent on if we can continue the accelerated pace of acquisition. So I can't answer that yet. But we believe -- if it does, we believe it's a good investment in the future of the company. Operator: [Operator Instructions] We have a question from Jim Harden. Unknown Attendee: I'm a personal investor. Just a quick question on the insurance subsidiary side. Just wondered if you had any sort of update on the operations there. Michael Stein: Yes. So the operation has definitely grown primarily in the fourth quarter and the first quarter. A lot of the sales activity happened in the fourth quarter, and we're starting to recognize revenue. We started to recognize revenue in the first quarter. We think that the revenues will continue to grow there. We're excited about the prospects. Operator: We have a question from Ibrahim Khan. Ibrahim, can you hear us? It appears we have lost Ibrahim's line for now. Okay. As we have -- as there are no further questions, this will conclude today's question-and-answer session and conference call. We thank you for attending today's presentation, and you may now disconnect. Before you buy stock in Genie Energy, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Genie Energy wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. 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As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Genie Energy (GNE) Q1 2026 Earnings Transcript was originally published by The Motley Fool