---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-037085"
form_type: "8-K"
ticker: "GNE"
cik: "0001528356"
company_name: "Genie Energy Ltd."
filed_at: "2023-05-08T23:59:59+00:00"
generated_at: "2026-06-15T13:06:31.563281+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Genie Energy Q1 revenue up 22.5% to $105.3M; EPS $0.54 vs $0.67 YoY; customer base surges

## Summary
- Revenue $105.3M (+22.5% YoY); net income $14.3M (down 18.5%); diluted EPS $0.54 (down 20%).
- Gross profit fell 29.3% to $33.3M; margin narrowed to 31.6% from 54.8% as energy price volatility subsided.
- Genie Retail added 129k gross meters; RCEs rose 34.5% sequentially to 353k; churn improved to 4.4%.
- Genie Solar broke ground on first 4MW community solar project; pipeline of 78MW across 10 projects.
- Declared $0.075 quarterly dividend payable May 30; cash & equivalents $113.7M at quarter end.

## SEC filing metadata
- accession: 0001213900-23-037085
- form_type: 8-K
- ticker: GNE
- cik: 0001528356
- company_name: Genie Energy Ltd.
- filed_at: 2023-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1528356/000121390023037085/0001213900-23-037085-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1528356/000121390023037085/ea178126-8k_genieenergy.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-037085
- JSON: https://secwatch.observer/filing/0001213900-23-037085.json
- Plain text: https://secwatch.observer/filing/0001213900-23-037085.txt

## Key facts
- Earnings Releases
  Genie Energy Ltd. reported financial results for the quarter ended March 31, 2023.
  - Period: the quarter ended March 31, 2023
  - Result: reported results
  source text: On May 8, 2023, the Registrant distributed over a wire service and posted to the investor relations page of its website (www.genie.com), an earnings release announcing its results of operations for the quarter ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1528356/000121390023037085/0001213900-23-037085-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.