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Genie Energy Announces Select, Preliminary, Unaudited, Interim Financial Results
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Genie Energy, Ltd. today provided an update on its fourth quarter and full year 2025 results, including select unaudited, preliminary financial results.
As disclosed on the 8-K filed on March 12, 2026, the Audit Committee of the Company's Board of Directors, in consultation with the Company's management and independent registered public accounting firm, has concluded that the Company's previously issued financial statements for the years ended December 31, 2024 and December 31, 2023 as well as the interim quarterly reports for 2024 and 2025 should not be relied upon and require restatement because of errors related to accounting for the liability associated with the Company's captive insurance subsidiary.
"We are working closely with the independent Audit Committee and our auditors to prepare restated financial results for 2023 and 2024, as well as 2024 and 2025 quarterly results, and to provide audited 2025 financial results," said Michael Stein, Genie's Chief Executive Officer. "As we noted in our SEC filing on Thursday, we estimate that the restated financial statements will significantly increase our 2023 and 2024 income from operations, provision for income taxes, and net income."
Under the reported financials, the Genie Retail Energy segment reported $13.2 million in Income from Operations for 4Q25, versus $12.6 million a year ago. Genie Retail Energy reported full year 2025 Income from Operations of $44.2 million, versus $56.5 million a year ago
For Genie Energy, Ltd., the reported financials show Consolidated Income from Operations of $4.6 million for 4Q25, and $27.7 million for the full year 2025
Michael Stein, Chief Executive Officer, stated, "Our retail business has experienced a challenging operating environment so far this year with volatility impacting energy markets. However, we maintain a positive outlook and solid 2026 guidance based on our expectations that Genie Retail Energy's margins will normalize as we move further into the year and that our Genie Renewables segment will increase its contribution to our bottom line even as we invest in early-stage growth initiatives."
As of December 31st 2025, the Company had $211.4 million of cash, restricted cash and cash equivalents compared to $200.6 million at December 31st 2024
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March 19, 2026
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Copyright 2026 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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