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NEWARK -On Monday, Genie Energy Ltd. (NYSE:GNE) reported fourth quarter earnings that beat analyst expectations, while maintaining its full-year 2025 adjusted EBITDA guidance.
The company’s stock edged up 0.14% in premarket trading following the results.
The retail energy and renewable energy solutions provider posted adjusted earnings per share of $0.24 for the quarter, surpassing the analyst consensus. Revenue came in at $102.9 million, down 1.9% year-over-year but roughly in line with estimates.
Genie Energy’s fourth quarter adjusted EBITDA decreased 2.8% to $11.1 million compared to the same period last year. For the full year 2024, the company achieved adjusted EBITDA of $48.5 million, reaching the high end of its guidance range.
The company’s Genie Retail Energy (GRE) division added over 23,000 net meters in Q4, expanding its customer base by 17% for the full year. Revenue for GRE remained flat YoY at $98.4 million.
"Genie finished 2024 with a solid fourth quarter across both our retail and renewables businesses, even as we continued to invest significantly in growth initiatives," said Michael Stein, CEO of Genie Energy.
Looking ahead, Genie Energy maintained its full-year 2025 consolidated adjusted EBITDA guidance of $40 to $50 million. The company also expects to continue building cash reserves and opportunistically repurchasing stock while maintaining its current dividend.
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