GNE, US3722842081

Genie Energy reported 396 percent profit growth: Freedom Capital cut Genie Energy stock to Hold

Published on 10/08/2026 at 19:05 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 revenue fell 4.60 percent to USD 100.40 million. Genie Energy stock costs EUR 14.90 on October 8, 2026, unchanged from EUR 14.90.

Key points in brief

Genie Energy reported second-quarter net income of USD 11.40 million, up 396.00 percent year over year.
Revenue fell 4.60 percent to USD 100.40 million in the second quarter of 2026.
Lang & Schwarz quoted the stock at EUR 14.90 on October 8, 2026, unchanged from the prior close.
Freedom Capital downgraded Genie Energy from Strong Buy to Hold on August 10, 2026.

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Genie Energy reported second-quarter net income of USD 11.40 million, up 396.00 percent year over year, while Freedom Capital cut its rating from Strong Buy to Hold. ScanX published the profit figure on September 17, 2026, and MarketBeat dated the rating change August 10, 2026.

Revenue fell as margins expanded

For the second quarter of 2026, revenue decreased 4.60 percent to USD 100.40 million from USD 105.20 million in the second quarter of 2025, according to ScanX. The same report said gross profit rose 43.40 percent to USD 33.70 million, lifting gross margin to 33.50 percent from 22.30 percent.

The result shows a sharp split between volume and profitability. Genie Retail Energy revenue declined 4.90 percent to USD 94.10 million, but the company retained more profitable business after low-margin aggregation contracts expired.

What changed beneath revenue?

The earnings improvement came with higher acquisition spending. Consolidated selling, general and administrative expense increased 28.00 percent to USD 27.20 million in the second quarter of 2026 as management shifted toward channels intended to attract customers with higher lifetime value.

Adjusted EBITDA reached USD 7.50 million, up 150.00 percent from USD 3.00 million in the second quarter of 2025. Management maintained its fiscal 2026 adjusted EBITDA guidance of USD 32.50 million to USD 40.00 million during the August 6, 2026 earnings call, according to The Globe and Mail.

Stock holds at EUR 14.90

Genie Energy stock was trading at EUR 14.90 at Lang & Schwarz on October 8, 2026 at 7:00 p.m. CEST, unchanged versus the prior close of EUR 14.90 on October 7, 2026. The primary NYSE quote was USD 16.74 at 1:02 p.m. ET on October 8, 2026, while the 52-week range was USD 12.69 to USD 16.85.

For investors, the key tension is visible in the numbers: profit expanded while revenue and customer volumes contracted. The USD 442.00 million market capitalization and the maintained adjusted EBITDA outlook leave execution on customer quality and acquisition costs as the central operating test. The further course of trading is shown by the continuously updated real-time quote of Genie Energy stock.