Genie Energy Ltd. Reports Fourth Quarter and Full Year 2019 Results
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Genie Energy (GNE) Reports Q4 Revenues Miss
March 12, 2020 7:35 AM EDTGenie Energy (NYSE: GNE) reported Q4 revenue for the quarter came in at $82 million versus the consensus estimate of $92.7 million.
HIGHLIGHTS (Throughout this release, 4Q19 results are compared to 4Q18 results and full year 2019 results are compared to full year 2018 unless otherwise noted)
Global RCEs served increased 45.5% during 2019 to 374 thousand at December 31, 2019. Global meters served increased 53.9% to 497 thousand during the year.Consolidated revenue increased 30.6% in 4Q19 to $82.0 million from $62.8 million. Full year revenue increased 12.5% to $315.3 million from $280.3 million. Results from Orbit Energy, Genie's retail energy provider JV in the UK,... More