Genie Energy reports Q3 EPS 27c vs 41c last year

Reports Q3 revenue $138.3M vs $111.9M last year. Michael Stein, Chief Executive Officer of Genie Energy (GNE), commented: “Genie Energy achieved another quarter of double-digit topline growth to attain record third quarter revenue. The revenue increase was fueled by an increase in per meter electricity consumption, rising commodity prices, and RCE base growth at Genie Retail Energy. However, the challenging market conditions that impacted GRE’s second quarter results persisted and again weighed on our bottom-line.”