Genie Energy Q2 net income $33.9M, EPS $1.30; record gross profit

Genie Energy Ltd.

2022-Q2 EPS reported $1.97 revenue$173,554,000

Revenue $75.0M (-1.8% YoY); gross profit $67.5M (+218%) on international hedge book gains.
Net income $33.9M, diluted EPS $1.30 vs $0.19; Adjusted EBITDA $49.1M vs $5.5M.
Declared $0.075 quarterly dividend; repurchased 639K common shares and $2M preferred stock.
GRE segment income from ops $14.4M; international hedge book added $35.8M mark-to-market gain.
Formed Sunlight Energy Investments for solar projects; sold Swedish book of ~6,000 meters.

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