secwatch.observer — SEC 8-K summary
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Issuer:     Genie Energy Ltd. (GNE)
CIK:        0001528356
Form:       8-K
Filed at:   2024-03-11T23:59:59+00:00
Accession:  0001213900-24-021226
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Genie Energy Q4 revenue up 28.9% to $104.9M, net loss $24.5M due to $45.1M one-time charge
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- Revenue $104.9M (record Q4), +28.9% YoY; full-year revenue also record.
- Net loss attributable to common stockholders $24.5M (-$0.90) vs net income $16.2M ($0.59) in Q4 2022.
- Results include $45.1M non-cash loss reserve at captive insurance; excluding that, non-GAAP net income $10.0M, EPS $0.37.
- Adjusted EBITDA fell 38% to $11.4M from $18.5M; company says baseline EBITDA increased to $40-50M level.
- Cash and marketable securities $163.4M, up 55% YoY, no debt; quarterly dividend maintained at $0.075/share.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1528356/000121390024021226/0001213900-24-021226-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1528356/000121390024021226/gne-20240311.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-021226

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