Genie Energy Ltd., through its subsidiary, Genie Energy International Corporation that owns interests in IDT Energy and Genie Oil and Gas, Inc., supplies electricity and natural gas to residential and small business customers primarily in the Eastern United States. It also produces transportation fuels from the oil shale and other fuel resources. The company’s resource development projects include a conventional oil and gas exploration program in Israel; and in-situ oil shale projects in Colorado, as well as Israel and Mongolia. Genie Energy Ltd. is headquartered in Newark, New Jersey.
550 Broad Street
Newark, NJ 07102
Genie Energy Ltd. Declares Third Quarter 2014 Dividend on Preferred Stock, Payable on November 14, 2014 to
Oct 15 14
The Board of Directors of Genie Energy Ltd. declared a third quarter 2014 dividend of $0.1594 per share of its Series 2012-A Preferred Stock. The dividend will be paid on November 14, 2014 to preferred stockholders of record as of the close of business on November 6, 2014. The ex-dividend date is November 4, 2014. The distribution will be treated as a return of capital for tax purposes.
Genie Energy Ltd. Presents at Liolios Group 2014 Gateway Conference, Sep-04-2014
Sep 2 14
Genie Energy Ltd. Presents at Liolios Group 2014 Gateway Conference, Sep-04-2014 . Venue: Palace Hotel, 2 New Montgomery Street, San Francisco, CA 94105, United States. Speakers: Avi Goldin, Chief Financial Officer and Treasurer.
Genie Energy Ltd. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014
Aug 7 14
Genie Energy Ltd. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenue of $48.8 million and net loss attributable to the company’s common stockholders of $5.2 million or $0.24 per basic and diluted share compared to revenue of $55.1 million and a net loss attributable to the company’s common stockholders of $6.2 million or $0.32 per basic and diluted share a year ago. Loss before income taxes was $4,873,000 against $6,249,000 a year ago. Loss from operations was $4.3 million compared to $5.6 million a year ago. Net cash provided by operating activities was $22.6 million compared to $2.2 million a year ago. The increase primarily reflects a normalization of the timing of inflows and outflows of working capital requirements following the ‘polar vortex’. Adjusted LBITDA was $2.6 million compared to $4.4 million a year ago.
For the six months, the company reported total revenues of $179,158,000 against $140,465,000 a year ago. Net loss attributable to the company’s common stockholders was $12,268,000 or $0.58 per basic and diluted share compared to $8,022,000 or $0.41 per basic and diluted share a year ago. Loss from operations was $10,837,000 against $2,937,000 a year ago. Loss before income taxes was $12,202,000 against $4,625,000 a year ago. Net cash used in operating activities was $7,102,000 against net cash provided by operating activities of $1,363,000 a year ago. Capital expenditures were $766,000 against $77,000 a year ago. Adjusted LBITDA was $7,215,000 against $796,000 a year ago.