{"id":872453,"date":"2025-08-07T07:34:13","date_gmt":"2025-08-07T11:34:13","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/genie-energy-announces-second-quarter-2025-results\/"},"modified":"2025-08-07T07:34:13","modified_gmt":"2025-08-07T11:34:13","slug":"genie-energy-announces-second-quarter-2025-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/genie-energy-announces-second-quarter-2025-results\/","title":{"rendered":"Genie Energy Announces Second Quarter\u00a02025\u00a0Results"},"content":{"rendered":"
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\n Newark, NJ, Aug. 07, 2025 (GLOBE NEWSWIRE) — <\/strong>Genie Energy, Ltd. (NYSE: GNE), a leading retail energy and renewable energy solutions provider, today announced results for the\u00a0second quarter of 2025.\u00a0<\/p>\n

Michael Stein, Chief Executive Officer of Genie Energy, commented:\u00a0<\/p>\n

“Our second\u00a0quarter yielded mixed results with\u00a0solid operational progress and double-digit topline growth, while significant margin compression at GRE weighed on\u00a0our\u00a0bottom-line.\u00a0<\/p>\n

“At GRE, we expanded our customer base in the second quarter to approximately 419,000 meters served comprising 414,000 RCEs, representing year-over-year growth of 15% and 20% in meters and RCE’s, respectively. GRE\u2019s financial results were impacted by wholesale power price increases in some of its\u00a0supply markets, amplified by high consumption levels from\u00a0the unseasonably hot weather early this summer.<\/p>\n

“At\u00a0GREW, we are making good progress on the more advanced projects within\u00a0our solar generation development pipeline, highlighted by our Lansing community solar project which, I’m excited to report, we expect to\u00a0commission in the third quarter. Following the enactment of the “One Big Beautiful Bill”, we are evaluating the financial viability of our early-stage\u00a0projects that may\u00a0no longer qualify for federal solar investment tax credits, and have paused new\u00a0development projects. GREW delivered a very strong quarter with revenue increasing 44%, and the segment approached\u00a0break even.<\/p>\n

“During the second\u00a0quarter, we continued to return\u00a0value\u00a0to our stockholders, repurchasing approximately\u00a0159,000 shares and paying our regular quarterly dividend of $0.075 per share.<\/p>\n

“Looking ahead to the balance of the year,\u00a0assuming a normalized retail margin environment, and further\u00a0improvement and growth at GREW led by Diversegy and Genie Solar,\u00a0we continue to expect that\u00a0Genie\u00a0will generate $40 to $50 million of\u00a0consolidated Adjusted EBITDA in 2025.”<\/p>\n

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\n Second\u00a0Quarter 2025\u00a0Highlights<\/u>
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\n (Unless otherwise noted, 2Q25 results are compared to 2Q24, and<\/em>\u00a0results of the former Genie Retail Energy International<\/em>\u00a0(GREI) segment are included in discontinued operations for all periods.)<\/em>\u00a0<\/p>\n