Quarterly ResultMay 15, 2026, 12:28 PM
Genie Energy Q1 Net Income $2.78M, down 73%; Operating Cash Flow Negative
AI Summary
Genie Energy Ltd. reported a significant decline in its first-quarter 2026 financial performance, with net income attributable to common stockholders falling 73% to $2.78 million and diluted EPS from continuing operations decreasing 72.5% to $0.11. Despite a 4% increase in total revenues to $142.31 million, gross profit and operating income saw substantial drops, and net cash from operating activities turned negative. The company also disclosed ongoing legal claims totaling €40.0 million ($46.3 million) related to its discontinued operations in Finland and Sweden, and recorded a $0.9 million inventory valuation reserve due to the One Big Beautiful Bill Act affecting solar projects.
Key Highlights
- Net income attributable to common stockholders fell 73% to $2.78 million for Q1 2026.
- Diluted EPS from continuing operations decreased 72.5% to $0.11.
- Total revenues increased 4% to $142.31 million for the three months ended March 31, 2026.
- Gross profit declined 20.2% to $29.82 million.
- Operating income plunged 86.1% to $1.87 million.
- Net cash from operating activities shifted to a $6.52 million outflow from a $15.35 million inflow.
- Company faces €40.0 million ($46.3 million) legal claims related to discontinued operations.
- Recorded a $0.9 million inventory valuation reserve for solar panels due to the OBBB Act.
Price Impact
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