June 23, 2017 1:46 PM ET

Electric Utilities

Company Overview of Genie Energy Ltd.

Company Overview

Genie Energy Ltd., through its subsidiaries, operates as a retail energy provider; and an oil and gas exploration company. The company operates through three segments: Genie Retail Energy; Afek Oil and Gas, Ltd.; and Genie Oil and Gas. It resells electricity and natural gas to residential and small business customers primarily in the Eastern and Midwestern United States. The company also holds an 85.1% interest in the southern portion of the Golan Heights in Northern Israel; an 88.2% interest in an oil shale exploration project in Central Mongolia; and an 86.1% interest in an oil shale development project in Israel’s Shfela Basin. Genie Energy Ltd. was incorporated in 2001 and is headquarter...

520 Broad Street

Newark, NJ 07102

United States

Founded in 2001

213 Employees

Phone:

973-438-3500

Fax:

973-438-1256

Key Executives for Genie Energy Ltd.

Chairman and Chief Executive Officer
Age: 60
Total Annual Compensation: $360.0K
Chief Financial Officer and Treasurer
Age: 39
Total Annual Compensation: $550.0K
Chief Operating Officer and Chief Executive Officer of Genie Retail Energy
Age: 32
Total Annual Compensation: $600.0K
Vice Chairman and Chief Executive Officer of Genie Oil E&P
Age: 45
Total Annual Compensation: $678.7K
EVP, Director of Global Exploration & Business Development and CEO of Genie Oil Development
Age: 32
Total Annual Compensation: $275.0K
Compensation as of Fiscal Year 2016.

Genie Energy Ltd. Key Developments

IDT Energy Introduces Energy Supply Service for Commercial and Industrial Customers and Energy Brokers

IDT Energy Inc., announced that it has launched indirect energy procurement and advisory services for commercial and industrial customers. This new offering leverages Genie Energy's procurement expertise and robust portfolio of services to offer commercial and industrial clients, and the energy brokers who serve them, high-end energy advisory expertise. The new offering is available throughout IDTE's service footprint, which includes utility territories in Illinois, Maryland, New Jersey, New York, Ohio, Pennsylvania and Washington, DC.

Genie Energy Ltd. Announces Ira A. Greenstein Not to Stand for Re-Election

Executive officers of Genie Energy Ltd. are appointed by its Board of Directors at each annual meeting of the Board, to serve until the next annual meeting of the Board (or their earlier resignation or removal). Mr. Ira A. Greenstein, who had served as President of the company, declined to stand for re-election at the annual meeting of the Board held on May 3, 2017.

Genie Energy Ltd. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017

Genie Energy Ltd. announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported total revenues of $69,440,000 against $58,879,000 a year ago. Income from operations was $3,968,000 against $5,999,000 a year ago. Income before income taxes was $3,767,000 against $5,946,000 a year ago. Net income attributable to the company was $3,477,000 against $5,669,000 a year ago. Net income attributable to the common stockholders was $3,107,000 against $5,299,000 a year ago. Diluted earnings per share attributable to the common stockholders were $0.13 against $0.22 a year ago. Net cash provided by operating activities was $3,640,000 against $9,120,000 a year ago. Capital expenditures were $222,000 against $84,000 a year ago. Adjusted EBITDA was $5,677,000 against $7,305,000 a year ago.

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Recent Private Companies Transactions

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