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February 12, 2016 10:51 PM ET

Electric Utilities

Company Overview of Genie Energy Ltd.

Company Overview

Genie Energy Ltd., through its subsidiary, Genie Energy International Corporation, operates as a retail energy provider and a developer of an oil and gas exploration company. The company operates through two segments, Genie Retail Energy and Genie Oil and Gas. The Genie Retail Energy segment resells electricity and natural gas to residential and small business customers primarily in the Eastern United States. The Genie Oil and Gas segment operates an exploration project in the southern portion of the Golan Heights in Northern Israel; has an 89.9% interest in an oil shale exploration project in Central Mongolia; holds and manages a 43.1% interest in an oil shale development project in Colorad...

550 Broad Street

Newark, NJ 07102

United States

Founded in 2001

235 Employees

Phone:

973-438-3500

Fax:

973-438-1256

Key Executives for Genie Energy Ltd.

Chairman, Chief Executive Officer and Chairman of Nominating Committee
Age: 59
Total Annual Compensation: $360.0K
Chief Financial Officer and Treasurer
Age: 38
Total Annual Compensation: $370.3K
Vice Chairman and Chief Executive Officer of Genie Oil E&P
Age: 44
Total Annual Compensation: $978.2K
Executive Vice President, Director of Global Exploration & Business Development and Chief Executive Officer of Genie Oil Development
Age: 31
Total Annual Compensation: $202.1K
Executive Vice President and Chief Executive Officer of Genie Retail Energy
Age: 31
Total Annual Compensation: $175.0K
Compensation as of Fiscal Year 2014.

Genie Energy Ltd. Key Developments

Genie Energy Ltd. Announces Dividend for the Fourth Quarter of 2015, Payable on or about February 12, 2016

The Board of Directors of Genie Energy Ltd. resumed a quarterly dividend on its common stock and declared a payment of $0.06 per share for the fourth quarter of 2015. The dividend will be paid on or about February 12, 2016 to common stockholders of record as of the close of business on February 5, 2016. The ex-dividend date will be February 3, 2016.

Genie Energy Ltd. Declares Fourth Quarter 2015 Dividend on Series 2012-A Preferred Stock, Payable on February 16, 20165

The board of directors of Genie Energy Ltd. declared a fourth quarter 2015 dividend of $0.1594 per share of its Series 2012-A Preferred Stock. The dividend will be paid on February 16, 2016 to preferred stockholders of record as of the close of business on February 5, 2016. The ex-dividend date is February 3, 2016.

Genie Energy Ltd. Reports Consolidated Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

GENIE ENERGY LTD. reported consolidated unaudited earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported total revenues of $52,238,000 compared with $46,186,000 for the same period last year. Income from operations was $3,839,000 compared with loss from operations of $4,107,000 for the same period last year. Income before income taxes was $3,378,000 compared with loss before income taxes of $4,358,000 for the same period last year. Net income attributable to Genie Energy Ltd. common stockholders were $2,475,000 or $0.10 diluted per share compared with $4,765,000 or $0.22 diluted per share for the same period last year. Adjusted EBITDA was $5,188,000 compared with $856,000 for the same period last year. For the nine months, the company reported total revenues of $166,194,000 compared with $225,345,000 for the same period last year. Loss from operations was $2,208,000 compared with $14,943,000 for the same period last year. Loss before income taxes was $3,890,000 compared with $16,558,000 for the same period last year. Net loss attributable to Genie Energy Ltd. common stockholders were $4,773,000 or $0.22 diluted per share compared with $17,095,000 or $0.81 diluted per share for the same period last year. Net cash provided by operating activities was $560,000 compared with net cash used operating activities $8,094,000 for the same period last year. Capital expenditures activities was $324,000 compared with $1,261,000 for the same period last year. Adjusted EBITDA was $2,192,000 compared with $6,359,000 for the same period last year.

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