Genie Energy (GNE) Reports Q4 Loss of $0.01

Note: EPS may not be comparable

Genie Energy (NYSE: GNE) reported Q4 EPS of ($0.01). Revenue for the quarter came in at $73.1 million

• Genie Energy is sharpening it strategic focus on its retail energy provider business after its Afek subsidiary suspended exploratory drilling operations in Northern Israel;
• In December 2017, Genie Energy's retail energy provider joint venture operating in Great Britain initiated customer enrollments under a regulatorily mandated three-month controlled market entry period;
• Genie Retail Energy's (GRE) income from operations increased to $12.2 million from $2.7 million and Adjusted EBITDA* increased to $12.8 million from $3.1 million on improved electric margins and higher levels of electricity and natural gas consumption;
• GRE's full year income from operations was $16.6 million and full year Adjusted EBITDA was $18.8 million. Both totals include the impact of $10.5 million in legal and regulatory related accruals. In 2016, GRE's income from operations was $26.5 million and Adjusted EBITDA was $27.3 million;
• Genie Energy's Board of Directors has declared a fourth quarter dividend of $0.075 per share.

For earnings history and earnings-related data on Genie Energy (GNE) click here.

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