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Genie Energy to Present at Sidoti Virtual Investor Conference
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Genie Energy Announces Second Quarter 2021 Results
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Genie Energy to Report Second Quarter 2021 Results
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NEWARK, N.J., May 6, 2021 /PRNewswire/ Genie Energy Ltd. (NYSE: GNE, GNEPRA) reported record revenue of $135.3 million and a loss per diluted share of $0.09 for the first quarter 2021.
CONSOLIDATED HIGHLIGHTS
(Throughout this release, 1Q21 results are compared to 1Q20 results unless otherwise noted)
Global RCEs served increased by 49,000 or 12.1% year over to year to 450,000. Global meters served increased by 40,000 or 7.6% year over to year to 572,000.
Consolidated revenue increased 30.1% to $135.3 million from $104.1 million driven by increased per meter consumption in domestic markets and by the consolidation of Orbit Energy during 4Q20.
Genie Retail Energy (GRE), Genie s domestic retail energy supply business, generated income from operations of $1.2 million compared to $13.0 million in 1Q20. The 1Q21 results reflect a negative impact of approximately $13.0 million attributable to the impact of a severe winter storm and resulta
Genie Energy Ltd (GNE) Q1 2021 Earnings Call Transcript Motley Fool Transcribers © The Motley Fool Logo of jester cap with thought bubble.
Genie Energy Ltd (NYSE: GNE)
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Good morning and welcome to Genie Energy s First Quarter 2021 Earnings Call. [Operator Instructions]
On this morning s call, Michael Stein, Genie Energy s Chief Executive Officer and Avi Goldin, Genie Energy s Chief Financial Officer will discuss operational and financial results for the three-month period ended March 31, 2021.
Any forward-looking statements made during this conference call, either in the prepared remarks or in the Q&A session, whether general or specific in nature, are subject to risks and uncertainties that may cause actual results to differ materially from those which the company anticipates. These risks and uncertainties include, but are not limited to, specific risks and uncertainties discussed in the reports that Genie Energy files periodically with