Genie Energy Ltd. (GNE) Financial Statements (2024 and earlier)

Company Profile

Business Address 520 BROAD STREET
NEWARK, NJ 07012
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 4931 - Electric and Other Services Combined (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments99,06196,82842,00231,24241,60129,913
Cash and cash equivalents98,57195,49236,91331,24241,60129,913
Short-term investments4901,3365,089   
Restricted cash and investments6,0076,6576,2716,792 518
Receivables55,13452,35760,77849,82235,92044,629
Inventory, net of allowances, customer advances and progress billings15,71417,72016,93016,6329,8933,986
Inventory15,71417,72016,93016,6329,8933,986
Prepaid expense6,8224,9944,6336,3186,1676,131
Disposal group, including discontinued operation38,688     
Other current assets6,20721,7893,2062,1334,3234,985
Total current assets:227,633200,345133,820112,93997,90490,162
Noncurrent Assets
Property, plant and equipment8912972593,6074,3014,020
Long-term investments and receivables   7476752,2083,450
Long-term investments   7476752,2083,450
Intangible assets, net (including goodwill)13,13115,40337,57425,80923,72414,857
Goodwill9,99811,75525,92912,13511,0829,998
Intangible assets, net (excluding goodwill)3,1333,64811,64513,67412,6424,859
Restricted cash and investments    5209431,496
Disposal group, including discontinued operation, noncurrent assets16,305     
Deferred income tax assets5,7994,2594,882 
Other noncurrent assets13,8569,16110,0577,3778,4809,652
Other undisclosed noncurrent assets   5,3179,3042,141
Total noncurrent assets:49,98229,12053,51943,30548,96035,616
TOTAL ASSETS:277,615229,465187,339156,244146,864125,778
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:35,65939,52342,76252,09445,21351,341
Taxes payable  1,5911,4632,204
Employee-related liabilities9,0719,558   
Accounts payable25,313  24,38718,50821,068
Accrued liabilities35,659  26,11625,24228,069
Other undisclosed accounts payable and accrued liabilities(25,313)30,45233,204   
Deferred revenue   5,609 
Debt   1,4534,030923 
Disposal group, including discontinued operation10,93630,766    
Other liabilities 4,5492,1252,4942,7044,4163,172
Due to related parties165532257381234228
Other undisclosed current liabilities47,88943,34644,89812,947  
Total current liabilities:99,198116,29297,47372,15650,78654,741
Noncurrent Liabilities
Long-term debt and lease obligation    7772,5162,513
Long-term debt, excluding current maturities    7772,5162,513
Liabilities, other than long-term debt4,7732,3843,7872,3819001,396
Accounts payable and accrued liabilities      
Disposal group, including discontinued operation, liabilities686     
Other liabilities4,0872,3843,7872,3819001,396
Total noncurrent liabilities:4,7732,3843,7873,1583,4163,909
Total liabilities:103,971118,676101,26075,31454,20258,650
Equity
Equity, attributable to parent, including:187,118123,28598,09594,805103,67184,013
Preferred stock 8,35919,74319,74319,74319,74319,743
Treasury stock, value(19,010)(14,034)(9,839)(7,675)(1,624)(2,428)
Additional paid in capital146,546143,249140,746139,615136,629130,870
Accumulated other comprehensive income1,9263,1603,8272,5192,5913,045
Retained earnings (accumulated deficit)49,010(29,115)(56,658)(59,671)(53,939)(67,469)
Other undisclosed equity, attributable to parent287282276274271252
Equity, attributable to noncontrolling interest(13,474)(12,496)(12,016)(13,875)(11,009)(16,885)
Total equity:173,644110,78986,07980,93092,66267,128
TOTAL LIABILITIES AND EQUITY:277,615229,465187,339156,244146,864125,778

Income Statement (P&L) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues315,539363,725379,312315,291280,309264,202
Revenue, net264,202
Cost of revenue(160,757)(258,864)(281,627)(232,392)(203,762)(178,693)
Gross profit:154,782104,86197,68582,89976,54785,509
Operating expenses(77,028)(71,770)(78,348)(73,074)(64,569)(85,001)
Other undisclosed operating loss     (7,048)
Operating income (loss):77,75433,09119,3379,82511,978(6,540)
Nonoperating income (expense)3154,9678291,514713(72)
Investment income, nonoperating8354,260190448557295
Other nonoperating income (expense)(520)7076391,066156(367)
Interest and debt expense(129)(427)(328)(530)(237)(310)
Income (loss) from continuing operations before equity method investments, income taxes:77,94037,63119,83810,80912,454(6,922)
Loss from equity method investments   (1,443)(4,830)  
Other undisclosed income (loss) from continuing operations before income taxes(417)(4,970)5,473 (3,430) 
Income (loss) from continuing operations before income taxes:77,52332,66123,8685,9799,024(6,922)
Income tax expense(21,037)(8,789)(8,314)(4,600)(12,376)(1,726)
Income (loss) from continuing operations:56,48623,87215,5541,379(3,352)(8,648)
Income (loss) before gain (loss) on sale of properties:27,84215,5541,379(3,352)(8,648)
Income from discontinued operations30,4453,970    
Other undisclosed net income     24,752 
Net income (loss):86,93127,84215,5541,37921,400(8,648)
Net income (loss) attributable to noncontrolling interest8741,372(2,399)2,7961,3851,654
Net income (loss) attributable to parent:87,80529,21413,1554,17522,785(6,994)
Preferred stock dividends and other adjustments(1,939)(1,678)(1,481)(1,481)(1,481)(1,481)
Net income (loss) available to common stockholders, diluted:85,86627,53611,6742,69421,304(8,475)

Comprehensive Income ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):86,93127,84215,5541,37921,400(8,648)
Other comprehensive income (loss)(2,697)(290)792(519) 917
Other undisclosed comprehensive income     3 
Comprehensive income (loss):84,23427,55216,34686021,403(7,731)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest1041,177(1,877)3,2439302,317
Comprehensive income (loss), net of tax, attributable to parent:84,33828,72914,4694,10322,333(5,414)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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