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)
| 9/30/2023 MRQ | 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 investments | 99,061 | 96,828 | 42,002 | 31,242 | 41,601 | 29,913 | |||
| Cash and cash equivalents | 98,571 | 95,492 | 36,913 | 31,242 | 41,601 | 29,913 | |||
| Short-term investments | 490 | 1,336 | 5,089 | ||||||
| Restricted cash and investments | 6,007 | 6,657 | 6,271 | 6,792 | 518 | ||||
| Receivables | 55,134 | 52,357 | 60,778 | 49,822 | 35,920 | 44,629 | |||
| Inventory, net of allowances, customer advances and progress billings | 15,714 | 17,720 | 16,930 | 16,632 | 9,893 | 3,986 | |||
| Inventory | 15,714 | 17,720 | 16,930 | 16,632 | 9,893 | 3,986 | |||
| Prepaid expense | 6,822 | 4,994 | 4,633 | 6,318 | 6,167 | 6,131 | |||
| Disposal group, including discontinued operation | 38,688 | ||||||||
| Other current assets | 6,207 | 21,789 | 3,206 | 2,133 | 4,323 | 4,985 | |||
| Total current assets: | 227,633 | 200,345 | 133,820 | 112,939 | 97,904 | 90,162 | |||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 891 | 297 | 259 | 3,607 | 4,301 | 4,020 | |||
| Long-term investments and receivables | 747 | 675 | 2,208 | 3,450 | |||||
| Long-term investments | 747 | 675 | 2,208 | 3,450 | |||||
| Intangible assets, net (including goodwill) | 13,131 | 15,403 | 37,574 | 25,809 | 23,724 | 14,857 | |||
| Goodwill | 9,998 | 11,755 | 25,929 | 12,135 | 11,082 | 9,998 | |||
| Intangible assets, net (excluding goodwill) | 3,133 | 3,648 | 11,645 | 13,674 | 12,642 | 4,859 | |||
| Restricted cash and investments | 520 | 943 | 1,496 | ||||||
| Disposal group, including discontinued operation, noncurrent assets | 16,305 | ||||||||
| Deferred income tax assets | 5,799 | 4,259 | 4,882 | ✕ | ✕ | ||||
| Other noncurrent assets | 13,856 | 9,161 | 10,057 | 7,377 | 8,480 | 9,652 | |||
| Other undisclosed noncurrent assets | 5,317 | 9,304 | 2,141 | ||||||
| Total noncurrent assets: | 49,982 | 29,120 | 53,519 | 43,305 | 48,960 | 35,616 | |||
| TOTAL ASSETS: | 277,615 | 229,465 | 187,339 | 156,244 | 146,864 | 125,778 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 35,659 | 39,523 | 42,762 | 52,094 | 45,213 | 51,341 | |||
| Taxes payable | ✕ | ✕ | 1,591 | 1,463 | 2,204 | ||||
| Employee-related liabilities | ✕ | ✕ | 9,071 | 9,558 | |||||
| Accounts payable | 25,313 | 24,387 | 18,508 | 21,068 | |||||
| Accrued liabilities | 35,659 | 26,116 | 25,242 | 28,069 | |||||
| Other undisclosed accounts payable and accrued liabilities | (25,313) | 30,452 | 33,204 | ||||||
| Deferred revenue | 5,609 | ✕ | ✕ | ||||||
| Debt | 1,453 | 4,030 | 923 | ||||||
| Disposal group, including discontinued operation | 10,936 | 30,766 | |||||||
| Due to related parties | ✕ | 165 | 532 | 257 | 381 | 234 | 228 | ||
| Other liabilities | 4,549 | 2,125 | 2,494 | 2,704 | 4,416 | 3,172 | |||
| Other undisclosed current liabilities | 47,889 | 43,346 | 44,898 | 12,947 | |||||
| Total current liabilities: | 99,198 | 116,292 | 97,473 | 72,156 | 50,786 | 54,741 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 777 | 2,516 | 2,513 | ||||||
| Long-term debt, excluding current maturities | 777 | 2,516 | 2,513 | ||||||
| Liabilities, other than long-term debt | 4,773 | 2,384 | 3,787 | 2,381 | 900 | 1,396 | |||
| Disposal group, including discontinued operation, liabilities | 686 | ||||||||
| Other liabilities | 4,087 | 2,384 | 3,787 | 2,381 | 900 | 1,396 | |||
| Total noncurrent liabilities: | 4,773 | 2,384 | 3,787 | 3,158 | 3,416 | 3,909 | |||
| Total liabilities: | 103,971 | 118,676 | 101,260 | 75,314 | 54,202 | 58,650 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 187,118 | 123,285 | 98,095 | 94,805 | 103,671 | 84,013 | |||
| Preferred stock | 8,359 | 19,743 | 19,743 | 19,743 | 19,743 | 19,743 | |||
| Treasury stock, value | (19,010) | (14,034) | (9,839) | (7,675) | (1,624) | (2,428) | |||
| Additional paid in capital | 146,546 | 143,249 | 140,746 | 139,615 | 136,629 | 130,870 | |||
| Accumulated other comprehensive income | 1,926 | 3,160 | 3,827 | 2,519 | 2,591 | 3,045 | |||
| Retained earnings (accumulated deficit) | 49,010 | (29,115) | (56,658) | (59,671) | (53,939) | (67,469) | |||
| Other undisclosed equity, attributable to parent | 287 | 282 | 276 | 274 | 271 | 252 | |||
| Equity, attributable to noncontrolling interest | (13,474) | (12,496) | (12,016) | (13,875) | (11,009) | (16,885) | |||
| Total equity: | 173,644 | 110,789 | 86,079 | 80,930 | 92,662 | 67,128 | |||
| TOTAL LIABILITIES AND EQUITY: | 277,615 | 229,465 | 187,339 | 156,244 | 146,864 | 125,778 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 315,539 | 363,725 | 379,312 | 315,291 | 280,309 | 264,202 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 264,202 | |
| Cost of revenue | (160,757) | (258,864) | (281,627) | (232,392) | (203,762) | (178,693) | ||
| Gross profit: | 154,782 | 104,861 | 97,685 | 82,899 | 76,547 | 85,509 | ||
| Operating expenses | (77,028) | (71,770) | (78,348) | (73,074) | (64,569) | (85,001) | ||
| Other undisclosed operating loss | (7,048) | |||||||
| Operating income (loss): | 77,754 | 33,091 | 19,337 | 9,825 | 11,978 | (6,540) | ||
| Nonoperating income (expense) | 315 | 4,967 | 829 | 1,514 | 713 | (72) | ||
| Investment income, nonoperating | 835 | 4,260 | 190 | 448 | 557 | 295 | ||
| Other nonoperating income (expense) | (520) | 707 | 639 | 1,066 | 156 | (367) | ||
| Interest and debt expense | (129) | (427) | (328) | (530) | (237) | (310) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | 77,940 | 37,631 | 19,838 | 10,809 | 12,454 | (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: | 77,523 | 32,661 | 23,868 | 5,979 | 9,024 | (6,922) | ||
| Income tax expense | (21,037) | (8,789) | (8,314) | (4,600) | (12,376) | (1,726) | ||
| Income (loss) from continuing operations: | 56,486 | 23,872 | 15,554 | 1,379 | (3,352) | (8,648) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | 27,842 | 15,554 | 1,379 | (3,352) | (8,648) | |
| Income from discontinued operations | 30,445 | 3,970 | ||||||
| Other undisclosed net income | 24,752 | |||||||
| Net income (loss): | 86,931 | 27,842 | 15,554 | 1,379 | 21,400 | (8,648) | ||
| Net income (loss) attributable to noncontrolling interest | 874 | 1,372 | (2,399) | 2,796 | 1,385 | 1,654 | ||
| Net income (loss) attributable to parent: | 87,805 | 29,214 | 13,155 | 4,175 | 22,785 | (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: | 85,866 | 27,536 | 11,674 | 2,694 | 21,304 | (8,475) | ||
Comprehensive Income ($ in thousands)
| 9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 86,931 | 27,842 | 15,554 | 1,379 | 21,400 | (8,648) | ||
| Other comprehensive income (loss) | (2,697) | (290) | 792 | (519) | 917 | |||
| Other undisclosed comprehensive income | 3 | |||||||
| Comprehensive income (loss): | 84,234 | 27,552 | 16,346 | 860 | 21,403 | (7,731) | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 104 | 1,177 | (1,877) | 3,243 | 930 | 2,317 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 84,338 | 28,729 | 14,469 | 4,103 | 22,333 | (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.