Genie Energy (GNE) Reports Q1 EPS of $0.24 on Revenues of $89.3M

Genie Energy (NYSE: GNE) reported Q1 EPS of $0.24. Revenue for the quarter came in at $89.3 million.

• Genie Retail Energy's (GRE) income from operations increased to $10.3 million from $9.0 million and Adjusted EBITDA* increased to $10.9 million from $9.5 million;
• Genie Retail Energy's joint venture operating in the UK as Orbit Energy successfully completed its controlled market entry period and has begun to scale its customer acquisition programs in the second quarter;
• Evidence of hydrocarbons at levels sufficient to warrant additional testing have been identified through an analysis of results from Afek\'s Ness 10 well. Afek is pursuing an extension of the Northern portion of its exploratory license to perform additional testing within the well;
• Net income per share increased to $0.24 per basic and diluted share from $0.18;
• Genie Energy's Board of Directors has declared a first quarter dividend of $0.075 per share.

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

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