Quarterly ResultMay 14, 2026, 07:31 AM
Genie Energy Q1 Revenue $142.3M; Net Income $2.8M; Lowers FY26 Guidance
AI Summary
Genie Energy reported mixed first-quarter 2026 results with record quarterly revenue but significant declines in gross profit, income from operations, net income, and Adjusted EBITDA compared to Q1 2025. The company lowered its full-year 2026 Adjusted EBITDA guidance from $40-$50 million to $32.5-$40 million, citing challenging commodity market conditions, increased customer acquisition spend at Genie Retail Energy (GRE), and investments in new initiatives at Genie Renewables (GREW). Despite the tough quarter, management expects significant improvement throughout the remainder of the year, with Genie Solar projected to be profitable.
Key Highlights
- Lowered full-year 2026 Adjusted EBITDA guidance to $32.5-$40 million from $40-$50 million.
- Q1 2026 revenue increased 4.0% to a record $142.3 million from $136.8 million in Q1 2025.
- Net income attributable to common stockholders decreased 73.4% to $2.8 million ($0.11 EPS) from $10.4 million ($0.40 EPS).
- Adjusted EBITDA decreased 80.4% to $2.8 million from $14.4 million.
- Genie Retail Energy (GRE) revenue increased 1.7% to $134.8 million, but Adjusted EBITDA decreased 59.1% to $7.0 million.
- Genie Renewables (GREW) revenue increased 74.3% to $7.6 million, but loss from operations increased to $(2.4) million.
- Declared a quarterly dividend of $0.075 per share.
- Cash and cash equivalents, restricted cash, and marketable equity securities totaled $199.8 million at March 31, 2026.