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)

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments108,005140,240111,279109,88399,06182,176
Cash and cash equivalents107,609139,829110,827105,22098,57181,705
Short-term investments3964114524,663490471
Restricted cash and investments10,4423,5743,8313,7916,0075,555
Receivables61,90960,68258,23065,20355,13443,524
Inventory, net of allowances, customer advances and progress billings14,59815,30618,18619,34515,71418,517
Inventory14,59815,30618,18619,34515,71418,517
Prepaid expense16,22211,8918,7937,8556,8227,806
Disposal group, including discontinued operation13,18233,92335,86535,75038,68848,863
Other current assets5,4754,6257,0595,3636,2078,156
Total current assets:229,833270,241243,243247,190227,633214,597
Noncurrent Assets
Property, plant and equipment15,1926,1121,422964891 
Intangible assets, net (including goodwill)12,73312,83212,93213,03113,13113,230
Goodwill9,9989,9989,9989,9989,9989,998
Intangible assets, net (excluding goodwill)2,7352,8342,9343,0333,1333,232
Disposal group, including discontinued operation, noncurrent assets7,4057,5539,37812,52016,30513,851
Deferred income tax assets5,2005,7995,7995,7995,7995,203
Other noncurrent assets15,24713,15013,18313,50613,85612,975
Other undisclosed noncurrent assets44,945     
Total noncurrent assets:100,72245,44642,71445,82049,98245,259
TOTAL ASSETS:330,555315,687285,957293,010277,615259,856
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:49,38944,83933,87838,56835,65941,803
Employee-related liabilities9,031
Accounts payable27,88124,85723,81519,89425,313 
Accrued liabilities49,38945,44433,87838,56835,659 
Other undisclosed accounts payable and accrued liabilities(27,881)(25,462)(23,815)(19,894)(25,313)32,772
Disposal group, including discontinued operation4,85810,73610,96711,07610,9365,731
Other liabilities   7,3957,5804,5492,150
Due to related parties14498165135
Other undisclosed current liabilities44,00550,21634,81147,47447,88936,304
Total current liabilities:98,252105,79187,195104,79699,19886,123
Noncurrent Liabilities
Liabilities, other than long-term debt47,7952,5272,7772,5804,77311,661
Accounts payable and accrued liabilities44,945     
Disposal group, including discontinued operation, liabilities6386686866866869,502
Other liabilities2,2121,8592,0911,8944,0872,159
Total noncurrent liabilities:47,7952,5272,7772,5804,77311,661
Total liabilities:146,047108,31889,972107,376103,97197,784
Equity
Equity, attributable to parent, including:197,239220,955209,310199,144187,118175,436
Preferred stock     8,359 
Treasury stock, value(22,661)(22,469)(21,613)(19,175)(19,010)(18,852)
Additional paid in capital156,101154,948154,299147,445146,546145,552
Accumulated other comprehensive income (loss)3,2991,4131,9651,8951,926(3,075)
Retained earnings60,19686,75974,35561,33349,01034,782
Other undisclosed equity, attributable to parent3043043047,64628717,029
Equity, attributable to noncontrolling interest(12,731)(13,586)(13,325)(13,510)(13,474)(13,364)
Total equity:184,508207,369195,985185,634173,644162,072
TOTAL LIABILITIES AND EQUITY:330,555315,687285,957293,010277,615259,856

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

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
Revenues104,921125,04993,463105,27681,38981,285
Cost of revenue(71,291)(83,967)(55,255)(71,990)(46,675)(38,142)
Gross profit:33,63041,08238,20833,28634,71443,143
Operating expenses(22,729)(23,196)(23,173)(22,011)(19,232)(19,605)
Other undisclosed operating loss(45,088)     
Operating income (loss):(34,187)17,88615,03511,27515,48223,538
Nonoperating income1,2701,3279044,220768350
Investment income, nonoperating1,7631,3311,008974576194
Other nonoperating income (expense)(493)(4)(104)3,246192156
Interest and debt expense(24)(27)(30)(19)6(33)
Income (loss) from continuing operations before equity method investments, income taxes:(32,941)19,18615,90915,47616,25623,855
Other undisclosed income (loss) from continuing operations before income taxes93334122(71)32557
Income (loss) from continuing operations before income taxes:(32,848)19,52016,03115,40516,58123,912
Income tax expense (benefit)8,712(5,018)(3,865)(4,068)(4,246)(6,482)
Income (loss) from continuing operations:(24,136)14,50212,16611,33712,33517,430
Income before gain (loss) on sale of properties:15,971
Income (loss) from discontinued operations486(304)3,1733,0554,516(1,459)
Net income (loss):(23,650)14,19815,33914,39216,85115,971
Net income (loss) attributable to noncontrolling interest(858)261(183)39(182)2,797
Net income (loss) attributable to parent:(24,508)14,45915,15614,43116,66918,768
Preferred stock dividends and other adjustments   (176)(157)(491)(454)
Net income (loss) available to common stockholders, diluted:(24,508)14,45914,98014,27416,17818,314

Comprehensive Income ($ in thousands)

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
Net income (loss):(23,650)14,19815,33914,39216,85115,971
Other comprehensive income (loss) (552)72(28) (4,210)
Other undisclosed comprehensive income 1,884   3,350 
Comprehensive income (loss):(21,766)13,64615,41114,36420,20111,761
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(855)261(185)36(764)2,809
Comprehensive income (loss), net of tax, attributable to parent:(22,621)13,90715,22614,40019,43714,570

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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