secwatch.observer — SEC 8-K summary
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Issuer:     Genie Energy Ltd. (GNE)
CIK:        0001528356
Form:       8-K
Filed at:   2022-11-07T23:59:59+00:00
Accession:  0001213900-22-069523
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Genie Energy posts record Q3 net income $18.3M and Adjusted EBITDA $24.5M; exits European retail ops
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- Revenue decreased 7.3% to $81.3M, but gross profit rose 24.7% to $43.1M (53.1% margin vs 39.5%).
- Net income from continuing ops attributable to common stockholders: $18.3M ($0.70 diluted EPS) vs loss of $2.7M ($(0.10)) in Q3 2021.
- Adjusted EBITDA increased 35.2% to $24.5M; GRE (US retail) generated $27.7M Adjusted EBITDA.
- Exited international retail operations (Scandinavia) – classified as discontinued ops; acquired site rights for 64MW solar projects.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1528356/000121390022069523/0001213900-22-069523-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1528356/000121390022069523/ea168141-8k_genieenergy.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-069523

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer