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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