Quarterly ResultAug 6, 2026, 03:24 PM
Genie Energy Q2 Net Income $11.38M, EPS $0.44; Gross Profit Up 43%
AI Summary
Genie Energy Ltd. reported strong financial results for the second quarter ended June 30, 2026, with net income attributable to common stockholders surging to $11.38 million, a significant increase from the prior year. Basic earnings per share from continuing operations rose to $0.44. While total revenues for the quarter saw a slight decrease, gross profit improved substantially by 43.4%. The company also noted the impact of the "One Big Beautiful Bill Act" on its solar projects, leading to the discontinuation of some projects and asset impairment assessments.
Key Highlights
- Q2 2026 net income attributable to common stockholders was $11.38M, up 385.3% YoY.
- Basic EPS from continuing operations for Q2 2026 was $0.44, a 388.9% increase YoY.
- Q2 2026 gross profit increased 43.4% to $33.67M from $23.48M in Q2 2025.
- Total revenues for Q2 2026 decreased 4.6% to $100.40M from $105.25M in Q2 2025.
- Net cash used in operating activities for H1 2026 was $9.93M, compared to $16.47M provided in H1 2025.
- The "One Big Beautiful Bill Act" led to discontinuation of some solar projects.
- Declared quarterly dividend of $0.075 per common share.
Price Impact
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