Genie Energy Q4 Adj. Profit Declines

(RTTNews) - Genie Energy, Ltd. (GNE) posted a fourth quarter net loss attributable to stockholders of $24.5 million and $0.90 per share compared to net income of $16.2 million or $0.59 per share, prior year. Non-GAAP net income was $10.0 million or $0.37 per share compared to $16.2 million and $0.59, a year ago. Adjusted EBITDA decreased 38.0% to $11.4 million from $18.5 million. Revenue increased 28.9% to $104.9 million from $81.4 million.

For 2024, the company's initial expectation is for adjusted EBITDA to be within its new baseline range of $40 million to $50 million.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.