Record second quarter Revenue and Income from Operations

Strong customer growth at Genie Retail Energy

Increases 2023 Adjusted EBITDA1 guidance to $47 million to $55 million (versus prior guidance of $40 million to $50 million)

NEWARK, N.J., Aug. 7, 2023 /PRNewswire/ -- Genie Energy, Ltd. (NYSE: GNE), a leading retail energy and renewable energy solutions provider, today announced results for the second quarter ended June 30, 2023.

Genie Energy, Ltd. is a leading retail energy and renewable energy solutions provider.

Michael Stein, chief executive officer of Genie Energy, commented: "We achieved another quarter of strong financial results while significantly expanding our retail customer base and building out our solar generation pipeline. By quarter's end, we increased our cash position to over $115 million even after redeeming the final $7.4 million of our outstanding preferred stock."

"Genie Retail Energy took advantage of the relative stability of wholesale energy markets in the second quarter. Revenue,  Income from Operations and Adjusted EBITDA reached the highest levels of any second quarter in our history, while our best-in-class marketing programs delivered 45% and 36% year-over-year increases in RCEs and meters, respectively.

"Genie Renewables continued adding new projects to its solar development pipeline, crossing the 100-megawatt (MW) threshold while building its platform to drive and support additional expansion."

Second Quarter 2023 Highlights
(Versus 2Q22 unless otherwise noted. Excludes discontinued operations of Genie Retail Energy International (GREI) for all periods unless otherwise noted.)

  • Revenue increased 39.6% to $93.5 million from $66.9 million;
  • Gross profit increased 28.1% to $38.2 million; gross margin decreased to 40.9% from 44.6%;
  • Income from operations increased 27.7% to $15.0 million;
  • Adjusted EBITDA1 increased 29.5% to $15.8 million;
  • Net income from continuing operations attributable to GNE common stockholders increased to $11.8 million from $6.8 million and diluted income per share (EPS) from continuing operations increased to $0.45 from $0.26;
  • Net income attributable to GNE common stockholders decreased to $15.0 million from $33.9 million and diluted EPS decreased to $0.57 from $1.30;
    • Net income and EPS attributable to GNE common stockholders included a gain from discontinued operations of $3.2 million, or $0.12, compared to a gain of $27.1 million or $1.04;
  • Cash, restricted cash and marketable equity securities increased to $115.1 million at June 30, 2023, from $113.7 million at March 31, 2023;
  • Genie Energy will pay a $0.075 quarterly dividend to Class A and B common stockholders on or about August 21, 2023, with a record date of August 14, 2023;
  • Genie Energy redeemed the remaining $7.4 million of its preferred stock.

1 Adjusted EBITDA for all periods presented is a non-GAAP measure intended to provide useful information that supplements the core operating results in accordance with GAAP of Genie Energy or the relevant segment. Please refer to the Reconciliation of Non-GAAP Financial Measure at the end of this release for an explanation of Adjusted EBITDA, as well as reconciliations to its most directly comparable GAAP measure.

 

Select Financial Metrics*

 (in $M except for EPS)**

2Q23

2Q22

Change

Total Revenue

$93.5

$66.9

39.6 %

Genie Retail (GRE)

$89.7

$63.2

42.1 %

   Electricity

$80.2

$53.1

51.1 %

   Natural Gas

$9.0

$10.1

-11.1 %

   Others

$0.6

$0.0

100.0 %

Genie Renewables

$3.7

$3.8

-1.3 %

Gross Margin

40.9 %

44.5 %

(367)bps

Genie Retail (GRE)

41.8 %

45.9 %

(415)bps

Genie Renewables

19.6 %

21.6 %

(199)bps

Income from Operations

$15.0

$11.8

27.7 %

Operating Margin

16.1 %

17.6 %

(150)bps

Net Income from Continuing Operations

$12.2

$8.1

51.0 %

Income Attributable to Discontinued Operations, net of tax

$3.2

$29.3

-89.2 %

Net Income Attributable to GNE Common Stockholders

$15.0

$33.9

-55.8 %

Diluted Earnings Per Share

$0.57

$0.70

-18.6 %

Adjusted EBITDA

$15.8

$12.2

29.5 %

Cash Flow Provided by Continuing Operating Activities

$3.0

$7.7

-60.5 %





* GREI operations have been classified as a discontinued operation and its results excluded from current and historical results

** Numbers may not add due to rounding

Segment Highlights
Genie Retail Energy (GRE)
GRE income from operations increased 27.8% to $18.4 million, while Adjusted EBITDA increased 27.5% to $18.8 million. The increases were driven by increased customer counts reflecting strong customer acquisitions during the first half of the year.

Meters and RCEs served increased year-over-year by 101,000 and 118,000 to 381,000 and 380,000, respectively, as of June 30, 2023. Average monthly churn decreased to 4.3% sequentially from 4.4% in the first quarter of 2023.

             Genie Retail Energy (GRE) Select Performance Metrics

RCEs and Meters in 1000s*

2Q23

2Q22

Change

Total RCEs

380

263

44.9 %

   Electricity

304

185

63.9 %

   Natural Gas

76

77

-1.0 %

Total Meters

381

280

36.1 %

   Electricity

302

203

48.3 %

   Natural Gas

80

78

2.4 %

Gross Adds

75

34

117.7 %

Churn

4.3 %

4.4 %

(10)bps





* Numbers may not add due to rounding

Genie Renewables (GREW)
GREW increased second quarter revenue year-over-year, driven mainly by services provided to third parties, including its consultative energy services for large commercial customers.

Genie Solar added five new projects representing 30MW to its pipeline during the quarter. As of the end of the quarter, Genie Solar had a pipeline of potential projects totaling 108MW in development.

Pipeline

Total

Site Control

Permitting

Construction

MW

108

79

25

4

Project Count

15

10

4

1

Balance Sheet and Cash Flow Highlights
As of June 30, 2023, Genie Energy reported cash, restricted cash and marketable equity securities of $115.1 million, an increase from $113.7 million at March 31, 2023. 

Total assets as of June 30, 2023 were $286.0 million. Liabilities totaled $90.0 million, and working capital (current assets less current liabilities) totaled $156.0 million. Non-current liabilities were $2.8 million.

Net cash provided by operating activities was $3.0 million compared to $7.7 million a year ago.

Strategic Update and Commentary
Stein added, "At the beginning of the year, we announced a 2023 goal to continue delivering strong financial results while aggressively moving into growth mode at GRE once market volatility subsided. Our year-to-date results demonstrate the wisdom of this strategy. As we look to the second half of the year, we are positioned to continue delivering strong Adjusted EBITDA while adding profitable customers for GRE. As a result, we are increasing our Adjusted EBITDA guidance for the year to $47 million to $55 million from $40 million to $50 million.

"At GREW, we have one community solar farm already under construction and a second achieved notice to proceed (NTP) status in July. In addition, during the year, we expect to achieve key development milestones on several other projects and expand the number of potential projects and aggregate MW in our pipeline. Our expanding solar generation portfolio sets GREW up for improving financial performance  over the next several years as more projects become operational."

Trended Financial Information:*

 (in $M except for EPS, RCEs and Meters)**

1Q22

2Q22

3Q22

4Q22

1Q23

2Q23

2021

2022

TTM

Total Revenue

$85.9

$66.9

$81.3

$81.4

$105.3

$93.5

$323.3

$315.5

$361.4

Genie Retail - US (GRE)

$83.9

$63.2

$79.9

$77.0

$101.4

$89.7

$311.8

$304.0

$348.1

Electricity

$59.4

$53.1

$73.8

$55.6

$74.5

$80.2

$273.0

$241.8

$284.1

Natural Gas

$24.5

$10.1

$6.2

$21.4

$26.9

$9.0

$38.8

$62.1

$63.4

Others

$0.0

$0.0

$0.0

$0.0

$0.0

$0.6

$0.0

$0.0

$0.6

Genie Renewables

$2.0

$3.8

$1.4

$4.4

$3.9

$3.7

$7.5

$11.6

$13.3

Gross Margin

54.8 %

44.5 %

53.1 %

42.7 %

31.6 %

40.9 %

28.3 %

49.1 %

41.3 %

Genie Retail - US (GRE)

55.5 %

45.9 %

54.1 %

44.4 %

32.1 %

41.8 %

29.1 %

50.3 %

42.4 %

Genie Renewables

25.7 %

21.6 %

-6.3 %

12.4 %

19.3 %

19.6 %

37.1 %

15.6 %

14.5 %

Income from Operations

$27.0

$11.8

$23.5

$15.5

$11.3

$15.0

$24.1

$11.6

$65.3

Operating Margin

31.4 %

17.6 %

29.0 %

19.0 %

10.7 %

16.1 %

7.5 %

3.7 %

18.1 %

Net (Loss) Income Attributable to Discontinued Operations

($1.9)

$29.3

($1.5)

$4.5

$3.1

$3.2

$11.7

$30.4

$9.3

Net Income Attributable to GNE Common Stockholders

$17.5

$33.9

$18.3

$16.2

$14.3

$15.0

$27.5

$85.9

$63.7

Diluted Earnings Per Share

$0.7

$1.30

$0.70

$0.61

$0.54

$0.57

$1.05

$3.28

$2.42

Adjusted EBITDA

$28.0

$12.2

$24.5

$18.5

$12.4

$15.8

$27.8

$83.2

$71.2

GRE Retail Performance Metrics










RCEs

260

263

251

262

353

380

260

262

380

Electricity

182

185

174

181

276

304

189

181

304

Natural Gas

78

77

77

81

77

76

71

81

76

Meters

286

280

270

275

349

381

285

275

381

Electricity

209

203

193

196

271

302

210

197

302

Natural Gas

77

77

77

79

78

80

75

79

80

Gross Adds

44

34

34

47

129

75

177

159

284

Churn***

4.5 %

4.4 %

4.4 %

5.5 %

4.4 %

4.3 %

4.5 %

4.8 %

4.7 %











* GREI operations have been classified as a discontinued operation and its results excluded from current and historical results

** Numbers may not add due to rounding

*** Excludes expiration of low margin aggregation deals












Earnings Announcement and Supplemental Information
At 8:30 AM Eastern this morning, Genie Energy's management will host a conference call to discuss financial and operational results, business outlook, and strategy. The call will begin with management's remarks, followed by Q&A with investors.

To participate in the conference call, dial 1-888-506-0062 (toll-free from the US) or 1-973-528-0011 (international) and provide the following participant access code: 382001.

Approximately three hours after the call, a call replay will be accessible by dialing 1-877-481-4010 (toll-free from the US) or 1-919-882-2331 (international) and providing the replay passcode: 48785. The replay will remain available through Tuesday, August 22, 2023. In addition, a recording of the call will be available for playback on the "Investors" section of the Genie Energy website.

About Genie Energy Ltd.
Genie Energy Ltd., (NYSE: GNE) is a retail energy and renewable energy solutions provider. The Genie Retail Energy division supplies electricity, including electricity from renewable resources, and natural gas to residential and small business customers in the United States. The Genie Renewables division is a vertically-integrated provider of commercial, community, and utility-scale solar energy solutions. For more information, visit Genie.com.

In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words "believe," "anticipate," "expect," "plan," "intend," "estimate, "target" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in our most recent report on SEC Form 10-K (under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations"), which may be revised or supplemented in subsequent reports on SEC Forms 10-Q and 8-K. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.

 

GENIE ENERGY LTD.

CONSOLIDATED BALANCE SHEETS

(in thousands, except per share amounts)



June 30,
2023



December 31,
2022



(Unaudited)





Assets






Current assets:






Cash and cash equivalents

$

110,827



$

98,571


Restricted cash—short-term


3,831




6,007


Marketable equity securities


452




490


Trade accounts receivable, net of allowance for doubtful accounts of $6,098 and $4,826 at June 30, 2023 and December 31, 2022, respectively


58,230




55,134


Inventory


18,186




15,714


Prepaid expenses


8,793




6,822


Other current assets


7,059




6,207


Current assets of discontinued operations


35,865




38,688


Total current assets


243,243




227,633


Property and equipment, net


1,422




891


Goodwill


9,998




9,998


Other intangibles, net


2,934




3,133


Deferred income tax assets, net


5,799




5,799


Other assets


13,183




13,856


Noncurrent assets of discontinued operations


9,378




16,305


Total assets

$

285,957



$

277,615


Liabilities and equity








Current liabilities:








Trade accounts payable


23,815




25,313


Accrued expenses


33,878




35,659


Income taxes payable


10,996




22,576


Due to IDT Corporation, net


144




165


Other current liabilities


7,395




4,549


Current liabilities of discontinued operations


10,967




10,936


Total current liabilities


87,195




99,198


Other liabilities


2,091




4,087


Noncurrent liabilities of discontinued operations


686




686


Total liabilities 


89,972




103,971


Commitments and contingencies  






Equity:








Genie Energy Ltd. stockholders' equity:








Preferred stock, $0.01 par value; authorized shares—10,000:








Series 2012-A, designated shares—8,750; at liquidation preference, consisting of — and 983 shares issued and outstanding at June 30, 2023 and  December 31, 2022





8,359


Class A common stock, $0.01 par value; authorized shares—35,000; 1,574 shares issued and outstanding at June 30, 2023 and December 31, 2022


16




16


Class B common stock, $0.01 par value; authorized shares—200,000; 28,764 and 27,126 shares issued and 25,885 and 24,421 shares outstanding at June 30, 2023 and December 31, 2022, respectively


288




271


Additional paid-in capital


154,299




146,546


Treasury stock, at cost, consisting of 2,879 and 2,705 shares of Class B common stock at June 30, 2023 and December 31, 2022


(21,613)




(19,010)


Accumulated other comprehensive income 


1,965




1,926


Retained earnings


74,355




49,010


Total Genie Energy Ltd. stockholders' equity


209,310




187,118


Noncontrolling interests


(13,325)




(13,474)


Total equity


195,985




173,644


Total liabilities and equity

$

285,957



$

277,615


 

GENIE ENERGY LTD.

CONSOLIDATED STATEMENTS OF OPERATIONS 

(Unaudited)




Three Months Ended June 30,



Six Months Ended June 30,




2023




2022




2023




2022




(in thousands, except per share data)


Revenues:
















Electricity

$

80,199



$

53,063



$

154,686



$

112,443


Natural gas


8,975




10,098




35,900




34,601


Other


4,289




3,779




8,153




5,821


Total revenues


93,463




66,940




198,739




152,865


Cost of revenues


55,255




37,120




127,245




75,939


Gross profit


38,208




29,820




71,494




76,926


Operating expenses:
















Selling, general and administrative (i)


23,173




18,048




45,184




38,192


Income from operations


15,035




11,772




26,310




38,734


Interest income


1,008




48




1,982




65


Interest expense


(30)




(52)




(49)




(102)


(Gain) loss on marketable equity securities and investments


122




(146)




51




(799)


Other (loss) income, net


(104)




(372)




3,142




(869)


Income before income taxes


16,031




11,250




31,436




37,029


Provision for income taxes


(3,865)




(3,195)




(7,933)




(10,308)


Net income from continuing operations


12,166




8,055




23,503




26,721


   Income from discontinued operations, net of taxes


3,173




29,318




6,227




27,388


Net income


15,339




37,373




29,730




54,109


Net income attributable to noncontrolling interests, net


183




2,894




144




1,741


Net income attributable to Genie Energy Ltd.


15,156




34,479




29,586




52,368


Dividends on preferred stock


(176)




(624)




(333)




(994)


Net income attributable to Genie Energy Ltd. common stockholders

$

14,980



$

33,855



$

29,253



$

51,374


















Amounts attributable to Genie Energy Ltd. common stockholders
















    Continuing operations

$

11,807



$

6,790



$

23,025



$

26,109


    Discontinued operations


3,173




27,065




6,228




25,154


Net income attributable to Genie Energy Ltd. common stockholders

$

14,980



$

33,855



$

29,253



$

51,374


















Earnings per share attributable to Genie Energy Ltd. common stockholders:
















Basic:
















    Continuing operations

$

0.46



$

0.27



$

0.90



$

1.02


    Discontinued operations


0.12




1.06




0.25




0.99


    Earnings per share attributable to Genie Energy Ltd. common stockholders

$

0.58



$

1.33



$

1.15



$

2.01


Diluted
















    Continuing operations

$

0.45



$

0.26



$

0.88



$

1.00


    Discontinued operations


0.12




1.04




0.24




0.97


    Earnings per share attributable to Genie Energy Ltd. common stockholders

$

0.57



$

1.30



$

1.12



$

7


















Weighted-average number of shares used in calculation of earnings per share:
















Basic


25,708




25,463




25,516




25,613


Diluted


26,321




26,070




26,073




26,088


















Dividends declared per common share

$

0.075



$

0.075



$

0.150



$

0.150


(i) Stock-based compensation included in selling, general and administrative expenses

$

756



$

730



$

1,605



$

1,570


 

GENIE ENERGY LTD. 

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)




Six Months Ended
June 30,




2023



2022




(in thousands)


Operating activities







Net income


$

29,730



$

54,109


   Net income from discontinued operations, net of tax



6,227




27,388


Net income from continuing operations



23,503




26,721


Adjustments to reconcile net income to net cash provided by (used in) operating activities:









Depreciation and amortization



191




191


Impairment of assets



19





Provision for doubtful accounts receivable



1,372




1,290


Unrealized (gain) loss on marketable equity securities and investment



(51)




799


Stock-based compensation



1,648




1,519


Equity in the net (income) loss in equity method investees



(111)




249


Change in assets and liabilities: 









Trade accounts receivable



(4,468)




(297)


Inventory



(2,472)




1,677


Prepaid expenses



(1,971)




(2,430)


Other current assets and other assets



941




(7,904)


Trade accounts payable, accrued expenses and other liabilities



(2,430)




2,680


Due to IDT Corporation, net



(21)




(384)


Income taxes payable



(11,581)




1,803


Net cash provided by operating activities of continuing operations



4,569




25,914


   Net cash provided by operating activities of discontinued operations



15,671




1,637


Net cash provided by operating activities



20,240




27,551


Investing activities









Capital expenditures



(561)




(60)


Proceeds from the sale of marketable equity securities and other investments



8,009





Purchase of marketable equity securities and other investments



(9,312)




(800)


Proceeds from equity method investments



282





Investment in notes receivables with related party






(1,388)


Repayment of notes receivable



19




19


Net cash used in investing activities of continuing operations



(1,563)




(2,229)


   Net cash used in investing activities of discontinued operations






(49,446)


Net cash used in investing activities



(1,563)




(51,675)


Financing activities









Dividends paid



(4,763)




(4,669)


Repurchases of Class B common stock from employees



(1,475)




(71)


Proceeds from the exercise of warrants



5,000





Repurchase of Class B common stock






(4,414)


Redemption of preferred stock



(8,359)




(2,000)


Net cash used in financing activities



(9,597)




(11,154)


Effect of exchange rate changes on cash, cash equivalents, and restricted cash



(37)




(120)


Net increase (decrease) in cash, cash equivalents, and restricted cash



9,043




(35,398)


Cash, cash equivalents, and restricted cash (including cash held at discontinued operations) at beginning of period



106,080




102,149


Cash, cash equivalents and restricted cash (including cash held at discontinued operations) at end of the period



115,123




66,751


Less: Cash held at of discontinued operations at end of period



465




2,693


Cash, cash equivalents, and restricted cash (excluding cash held at discontinued operations) at end of period


$

114,658



$

64,058


Reconciliation of Non-GAAP Financial Measure for the Second Quarter 2023

In addition to disclosing financial results that are determined in accordance with generally accepted accounting principles in the United States of America (GAAP), Genie Energy disclosed Adjusted EBITDA on a consolidated basis and for GRE. Adjusted EBITDA is a non-GAAP measure.

Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP.

Genie's measure of consolidated Adjusted EBITDA starts with income (loss) from operations and adds back depreciation, amortization, and stock-based compensation and subtracts out impairment of assets and equity in the net loss of equity method investees, net.

Adjusted EBITDA should be considered in addition to, not as a substitute for, or superior to, revenue, gross profit, income from operations, cash flow from operating activities, net income, basic and diluted earnings per share or other measures of liquidity and financial performance prepared in accordance with GAAP. In addition, Genie's measurement of Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies.

Management believes that Genie's measure of Adjusted EBITDA provides useful information to both management and investors by excluding certain expenses that may not be indicative of Genie's or GRE's core operating results. Management uses Adjusted EBITDA, among other measures, as a relevant indicator of core operational strengths in its financial and operational decision-making.

Management also uses Adjusted EBITDA to evaluate operating performance in relation to Genie's competitors. Disclosure of this non-GAAP financial measure may be useful to investors in evaluating performance and allows for greater transparency to the underlying supplemental information used by management in its financial and operational decision-making. In addition, Genie Energy has historically reported Adjusted EBITDA and believes it is commonly used by readers of financial information in assessing performance. Therefore, the inclusion of comparative numbers provides consistency in financial reporting at this time.

Management refers to Adjusted EBITDA as well as the GAAP measures revenue, gross profit, and income (loss) from operations, as well as net income (loss), on a consolidated level to facilitate internal and external comparisons to Genie's historical operating results, in making operating decisions, for budget and planning purposes, and to form the basis upon which management is compensated.

Although depreciation and amortization are considered operating costs under GAAP, they primarily represent the non-cash current period allocation of costs associated with long-lived assets acquired or constructed in prior periods. Genie's operating results exclusive of depreciation and amortization are therefore useful indicators of its current performance.

Stock-based compensation recognized by Genie Energy and other companies may not be comparable because of the various valuation methodologies, subjective assumptions and the variety of types of awards that are permitted under GAAP. Stock-based compensation is excluded from Genie's calculation of Adjusted EBITDA because management believes this allows investors to make more meaningful comparisons of the operating results of Genie's core business with the results of other companies. However, stock-based compensation will continue to be a significant expense for Genie Energy for the foreseeable future and an important part of employees' compensation that impacts their performance.

Impairment of goodwill is a component of (loss) income from operations that is excluded from the calculation of Adjusted EBITDA. The impairment of goodwill is primarily dictated by events and circumstances outside the control of management that trigger an impairment analysis. While there may be similar charges in other periods, the nature and magnitude of these charges can fluctuate markedly and do not reflect the performance of Genie's continuing operations.

Following are the reconciliations of Adjusted EBITDA on a consolidated basis to its most directly comparable GAAP measure. Adjusted EBITDA is reconciled to income (loss) from operations for Genie Energy on a consolidated basis and to income from operations for GRE.

Non-GAAP Reconciliation - Consolidated Adjusted EBITDA


1Q22

2Q22

3Q22

4Q22

1Q23

2Q23

2021

2022

TTM

Income (loss) from Operations

$27.0

$11.8

$23.5

$15.5

$11.3

$15.0

$24.1

$77.8

$65.3

Add back










Depreciation and Amortization

$0.1

$0.1

$0.1

$0.1

$0.1

$0.1

$0.4

$0.4

$0.4

Non-Cash Compensation

$0.8

$0.7

$0.7

$0.7

$0.8

$0.8

$2.8

$3.0

$3.1

Impairment

$0.0

$0.0

$0.0

$2.1

$0.0

$0.0

$0.0

$2.1

$2.1

Equity in the Loss of AMSO/GEUK

$0.1

($0.4)

$0.2

$0.1

$0.2

($0.1)

$0.4

($0.0)

$0.3

Adjusted EBITDA

$28.0

$12.2

$24.5

$18.5

$12.4

$15.8

$27.8

$83.2

$71.2

 

                            Non-GAAP Reconciliation - GRE Adjusted EBITDA



(in millions)

2Q23

2Q22

TTM

2022

2021

Income (loss) from Operations

$18.4

$14.4

$82.8

$92.6

$34.7

Add back






Depreciation and Amortization

$0.1

$0.1

$0.3

$0.3

$0.4

Stock-based Compensation

$0.3

$0.2

$1.0

$1.0

$0.9

Adjusted EBITDA

$18.8

$14.7

$84.2

$93.8

$36.0

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/genie-energy-announces-second-quarter-2023-results-301894337.html

SOURCE Genie Energy Ltd.

Copyright 2023 PR Newswire

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