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Genie Retail Energy Reports Higher Adjusted EBITDA, Notes Growth In Certain Markets
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Genie Energy, Ltd. reported that its Genie Retail Energy (GRE) segment recorded Adjusted EBITDA of $8.7 million for the second quarter of 2026, up from $4.4 million a year ago
GRE gross profit was $30.3 million for 2Q26, up from $21.3 million a year ago
GRE gross margin was 32.2% for 2Q26, up from 21.5% a year ago
Genie reported that, at Genie Retail Energy (GRE), "relatively normalized wholesale energy market conditions enabled us to achieve a gross margin comparable to our long-term historical average, and that drove a significant year-over-year improvement in our bottom-line results even as we increased our customer acquisition spend."
At GRE, Genie said, "Compared to the prior year quarter, customer acquisitions in 2Q26 skewed toward high value customers, which we expect to favorably impact results in the coming quarters."
GRE reported "notable growth" in the Texas power and California gas markets
GRE was serving 363,000 meters as of 2Q26, versus
364,000 as of 1Q26 and 419,000 a year ago
GRE was serving 345,000 RCEs as of 2Q26, versus
354,000 as of 1Q26 and 413,000 a year ago
The year over year decreases in RCEs and meters largely reflect the expiration of low margin aggregation deals, Genie said
Genie also reported higher SG&A expense for GRE ($22.0 million for 2Q26 versus $17.3 million for 2Q25) resulting from a shift in the sales mix to certain high value customer segments with higher costs of acquisition.
GRE gross meter additions during 2Q26 were 65,000, versus 84,000 for 1Q26 and 70,000 a year ago
GRE churn was 5.9% for 2Q26, versus 5.8% for 1Q26 and 4.8% a year ago. The churn data excludes the impacts of aggregation deal expirations
On a consolidated basis, Genie Energy Ltd. 2Q26 Adjusted EBITDA increased to $7.5 million, from $3.0 million a year ago
As of June 30, 2026, Genie Energy Ltd. reported cash and cash equivalents, short and long-term restricted cash, and marketable equity securities of $204.3 million. At the close of 1Q26 on March 31, 2026, these line items totaled $199.8 million.
For Genie Energy Ltd., total assets as of June 30, 2026 were $369.7 million. Liabilities totaled $114.5 million, and working capital (current assets less current liabilities) totaled $199.6 million.
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August 6, 2026
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Copyright 2026 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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