Genie Energy reports preliminary financial results for 2025, announces restatement of prior financials due to accounting errors.
Quiver AI Summary
Genie Energy, Ltd. provided an update on its fourth quarter and full year 2025 financial results, noting the need for restatement of previous financial statements for 2023 and 2024 due to accounting errors related to its captive insurance subsidiary. CEO Michael Stein announced that restated results would likely show significant increases in income for those years. The company reported unaudited revenues of $502 million for 2025, up from $425.2 million in 2024, driven by its Genie Retail Energy segment. However, income from operations declined due to tough market conditions and asset write-downs. The company maintains a positive outlook for 2026, projecting adjusted EBITDA between $40 to $50 million.
Potential Positives
- Genie Energy reported a significant increase in consolidated revenue for FY 2025, reaching $502 million compared to $425.2 million in FY 2024.
- The company anticipates that restated financial statements will show a substantial increase in income for 2023 and 2024, which may enhance investor confidence.
- Genie Energy maintained a healthy cash position with $211.4 million in cash and equivalents as of December 31, 2025, up from $200.6 million a year prior.
- The 2026 financial outlook projects consolidated Adjusted EBITDA of $40 to $50 million, indicating potential for growth and profitability.
Potential Negatives
- The need to restate previously issued financial statements for 2023 and 2024 indicates significant accounting errors, which could undermine investor trust and raise concerns about the company's financial governance.
- Restatements are typically viewed negatively by the market, as they can affect stock performance and may lead to increased scrutiny from regulators and investors.
- The company's adjusted EBITDA projections for 2026 are notably lower than expectations, reflecting a challenging operational environment and potential difficulties in achieving growth targets.
FAQ
What financial results did Genie Energy report for 2025?
Genie Energy reported consolidated revenue of $502 million and an income from operations of $27.7 million for 2025.
Why are Genie Energy's previous financial statements being restated?
The financial statements for 2023 and 2024 are being restated due to errors in accounting for a liability related to the company's captive insurance subsidiary.
What is the projected Adjusted EBITDA for Genie Energy in 2026?
Genie Energy projects a consolidated Adjusted EBITDA of $40 to $50 million for the full year 2026.
What challenges has Genie Energy faced in the energy market?
Genie Energy has faced volatility in energy markets and write-downs of solar assets, impacting their financial performance in 2025.
What are Genie Energy's divisions and their focus areas?
Genie Energy's divisions include Genie Retail Energy, supplying electricity and natural gas, and Genie Renewables, focusing on solar energy and energy procurement.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$GNE Insider Trading Activity
$GNE insiders have traded $GNE stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $GNE stock by insiders over the last 6 months:
- AVI GOLDIN (CFO) sold 12,000 shares for an estimated $175,354
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$GNE Revenue
$GNE had revenues of $138.3M in Q3 2025. This is an increase of 23.6% from the same period in the prior year.
You can track GNE financials on Quiver Quantitative's GNE stock page.
$GNE Hedge Fund Activity
We have seen 48 institutional investors add shares of $GNE stock to their portfolio, and 84 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- J. GOLDMAN & CO LP added 616,017 shares (+325.4%) to their portfolio in Q4 2025, for an estimated $8,488,714
- DIMENSIONAL FUND ADVISORS LP removed 110,832 shares (-11.0%) from their portfolio in Q4 2025, for an estimated $1,527,264
- ALLIANCEBERNSTEIN L.P. removed 79,368 shares (-82.4%) from their portfolio in Q4 2025, for an estimated $1,093,691
- JACOBS LEVY EQUITY MANAGEMENT, INC removed 75,346 shares (-24.8%) from their portfolio in Q4 2025, for an estimated $1,038,267
- MORGAN STANLEY added 67,138 shares (+59.8%) to their portfolio in Q4 2025, for an estimated $925,161
- D. E. SHAW & CO., INC. removed 56,126 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $839,083
- HSBC HOLDINGS PLC removed 49,787 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $744,315
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Newark, NJ, March 19, 2026 (GLOBE NEWSWIRE) -- Genie Energy, Ltd. (NYSE: GNE), a leading retail energy and renewable energy solutions provider, today provided an update on its fourth quarter and full year 2025, including select unaudited, preliminary financial results, as well as financial guidance for 2026.
As disclosed on the 8-K filed on March 12, 2026, the Audit Committee of the Company’s Board of Directors, in consultation with the Company’s management and independent registered public accounting firm, has concluded that the Company’s previously issued financial statements for the years ended December 31, 2024 and December 31, 2023 as well as the interim quarterly reports for 2024 and 2025 should not be relied upon and require restatement because of errors related to accounting for the liability associated with the Company’s captive insurance subsidiary.
“We are working closely with the independent Audit Committee and our auditors to prepare restated financial results for 2023 and 2024, as well as 2024 and 2025 quarterly results, and to provide audited 2025 financial results,” said Michael Stein, Genie’s Chief Executive Officer. “As we noted in our SEC filing on Thursday, we estimate that the restated financial statements will significantly increase our 2023 and 2024 income from operations, provision for income taxes, and net income.”
Select Preliminary Unaudited Operating Metrics ( subject to change) :
The Company provided select, preliminary estimated unaudited financial metrics for the three and twelve months ended December 31, 2025 on a consolidated basis and for its reporting segments, Genie Retail Energy (GRE) and Genie Renewables (GREW):
| (Unaudited. In millions) | 4Q25 | 4Q24 | FY 2025 | FY 2024 | ||||||||||
| Consolidated Revenue | $ | 121.6 | $ | 102.9 | $ | 502.0 | $ | 425.2 | ||||||
| GRE | $ | 114.6 | $ | 98.4 | $ | 478.5 | $ | 403.3 | ||||||
| GREW | $ | 7.0 | $ | 4.5 | $ | 23.5 | $ | 21.9 | ||||||
| Consolidated Income from Operations | $ | 4.6 | $ | 10.1 | $ | 27.7 | $ | 44.9 | ||||||
| GRE | $ | 13.2 | $ | 12.6 | $ | 44.2 | $ | 56.5 | ||||||
| GREW | $ | (5.7 | ) | $ | (0.7 | ) | $ | (7.1 | ) | $ | (3.0 | ) | ||
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As of December 31
st
2025, the Company had $211.4 million of cash, restricted cash and cash equivalents compared to $200.6 million at December 31
st
2024.
2026 Financial Outlook
For the full year 2026, Genie management is projecting consolidated Adjusted EBITDA of $40 to $50 million.
Commentary from Michael Stein, Chief Executive Officer
"Genie continued to generate strong cash flows in 2025, funding increased investment in promising growth initiatives at both GRE and GREW while further strengthening our balance sheet and returning value to our stockholders though share repurchases and our quarterly dividend. Adjusted EBITDA in 2025 came in below our guidance due to both challenging energy market conditions early in the year, write-downs of solar assets at Genie Solar in the fourth quarter following enactment of the ‘One Big Beautiful Bill’ and increased acquisition expense selling non-energy services.
“Our retail business has experienced a challenging operating environment so far this year with volatility impacting energy markets. However, we maintain a positive outlook and solid 2026 guidance based on our expectations that Genie Retail Energy’s margins will normalize as we move further into the year and that our Genie Renewables segment will increase its contribution to our bottom line even as we invest in early-stage growth initiatives.”
About Genie Energy Ltd.
Genie Energy Ltd., (NYSE: GNE) is a leading retail energy and renewable energy solutions provider. The Genie Retail Energy division (GRE) supplies electricity, including electricity from renewable resources, and natural gas to residential and small business customers in the United States. The Genie Renewables division's (GREW) holdings include Diversegy, an energy procurement advisor, Genie Solar, operator of a portfolio of community and commercial solar arrays, and various early-stage business initiatives. For more information, visit Genie.com.
In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words "believe," "anticipate," "expect," "plan," "intend," "estimate, "target" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in our most recent report on SEC Form 10-K (under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations"), which may be revised or supplemented in subsequent reports on SEC Forms 10-Q and 8-K. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.
Contact
Bill Ulrey
Investor Relations
Genie Energy, Ltd.
[email protected]
