Genie Energy (GNE) Reports Q4 Loss of $0.01
Note: EPS may not be comparable
Genie Energy (NYSE: GNE) reported Q4 EPS of ($0.01). Revenue for the quarter came in at $73.1 million
- Genie Energy is sharpening it strategic focus on its retail energy provider business after its Afek subsidiary suspended exploratory drilling operations in Northern Israel;
- In December 2017, Genie Energy's retail energy provider joint venture operating in Great Britain initiated customer enrollments under a regulatorily mandated three-month controlled market entry period;
- Genie Retail Energy's (GRE) income from operations increased to $12.2 million from $2.7 million and Adjusted EBITDA* increased to $12.8 million from $3.1 million on improved electric margins and higher levels of electricity and natural gas consumption;
- GRE's full year income from operations was $16.6 million and full year Adjusted EBITDA was $18.8 million. Both totals include the impact of $10.5 million in legal and regulatory related accruals. In 2016, GRE's income from operations was $26.5 million and Adjusted EBITDA was $27.3 million;
- Genie Energy's Board of Directors has declared a fourth quarter dividend of $0.075 per share.
For earnings history and earnings-related data on Genie Energy (GNE) click here.