Genie Energy (GNE) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $127.244M vs. $138.3M YoY; gross profit rose to $41.240M from $30.019M and operating income increased to $12.736M from $7.4M.

• Net income attributable to common stockholders was $10.168M vs. $6.4M; diluted EPS was $0.39 vs. $0.25, and Adjusted EBITDA was $13.7M vs. $8.2M.

• Retail margin recovery and stronger GREW contributions offset spending on Roded and other early-stage initiatives.

Financial highlights

• Q3 cost of revenues fell to $86.0M from $108.3M, while SG&A rose to $28.504M from $22.615M.

• Q3 continuing-operations net income was $10.278M vs. $6.396M; discontinued-operation loss was $0.1M.

• Nine-month revenue was $369.955M vs. $380.382M; gross profit rose to $104.7M from $90.9M, while operating income declined to $21.132M from $23.138M.

• Nine-month net income attributable to common stockholders rose to $24.321M from $19.186M; diluted EPS was $0.93 vs. $0.72.

• Nine-month other income, net was $5.149M vs. $0.797M, primarily reflecting investment gains, including the sale of investment property.

Outlook and guidance

• FY2026 Adjusted EBITDA guidance is $32.5M–$40.0M; results remain on track despite early-stage investment spending.

• FY2026 capital expenditures are projected at $5M–$10M, mostly for GREW solar projects under development.

• Delhi, NY, community solar project is expected to begin operations in late 2027.

• Roded machinery is expected to double Israel capacity by Q3 2027; a proposed new facility would more than triple current capacity, subject to plan approval.