Double-Digit Top Line Growth
Genie Energy reported a solid 16% increase in consolidated revenue to $105.3 million, driven by growth at both Genie Retail and Genie Renewables.
Customer Base Expansion at GRE
Expanded customer base to approximately 419,000 meters served, comprising approximately 414,000 RCEs, representing a year-over-year increase of 15% in meters and 20% in RCEs.
Significant Growth in Genie Solar Revenue
Genie Solar's revenue jumped over 6x the year-ago level to $1 billion, with a decreased bottom line loss by 90% due to reduced SG&A.
Strong Performance at Diversegy
Diversegy, the brokerage and energy advisory business, saw revenue increase by over 50% and profitability increase by almost 3,000%.