GENIE ENERGY LTD. Reports Solid Q1 Financial Results with Net Income of $14.4 Million
Revenue Soars to $105.3 Million, Reflecting Robust Performance
Genie Energy Ltd.(GNE), a leading energy com pany, has announced its financial results for the first quarter ended March 31, 2023. The company reported strong revenue of $105.3 million, a significant increase compared to $85.9 million in the same period last year. Additionally, the company achieved a net income of $14.4 million during the quarter.
Consolidated Balance Sheets Highlight Healthy Asset Growth
The company's consolidated balance sheets for the first quarter of 2023 showcase its robust financial health. The total assets of Genie Energy Ltd. stood at $293.0 million at the end of March 31, 2023, compared to $277.6 million at the end of December 31, 2022. This highlights a steady growth in the company's asset base.
Solid Performance Reflected in Consolidated Statements of Operations
