Genie Energy Q3 revenue falls as customer base shrinks
GNE•Genie Energy's third-quarter revenue fell 8% year over year as its customer base contracted, while EPS rose to $0.39 from $0.25. The company expects 2026 adjusted EBITDA of $32.5 million to $40 million and repurchased 128,000 shares for $2 million in Q3.
1. Revenue and earnings
Genie Energy reported an 8% year-over-year decline in third-quarter revenue, driven by a smaller customer base and partially offset by higher revenue per unit. EPS rose to $0.39 from $0.25 as improved gross margin from normalized energy market conditions offset the smaller customer base and higher acquisition costs.
2. Outlook and buybacks
The company expects 2026 adjusted EBITDA of $32.5 million to $40 million and gross margin to remain near its long-term average under normalized market conditions. It repurchased 128,000 shares for $2 million in the third quarter and plans to bring a community solar project in Delhi, New York, online in late 2027.
3. Renewables results
Genie Energy said improved results at Genie Renewables were driven by higher profitability at Diversegy and Genie Solar.
