Genie Energy Ltd. (NYSE: GNE) has released its preliminary estimated unaudited financial results for the fourth quarter and full year ended December 31, 2025. The company announced that it is working closely with its Audit Committee and auditors to prepare restated financial results for the years 2023 and 2024, as well as for the quarterly results of 2024 and 2025. This decision comes after the Audit Committee concluded that the previously issued financial statements should not be relied upon due to errors related to accounting for liabilities associated with the company's captive insurance subsidiary. CEO Michael Stein stated that the restated financial statements are expected to significantly increase the company's income from operations, provision for income taxes, and net income for the years in question. The company also provided financial guidance for 2026, projecting consolidated Adjusted EBITDA of $40 to $50 million. Despite the challenges faced in 2025, including volatility in energy markets and write-downs of solar assets, Genie Energy remains optimistic about its future performance, particularly in its Genie Retail Energy and Genie Renewables segments. The company continues to focus on strengthening its balance sheet and returning value to shareholders through share repurchases and dividends.

Press Release distribution

National Press Distribution across U.S. Media. Direct Access to Key Decision Making Editors.