Genie Energy Ltd. (NYSE:GNE) Reveals 3Q19 Income Fall, Outsmart Estimates

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Genie Energy Ltd. (NYSE:GNE) on Friday declared third quarter financial results before market open that outsmart market view

The company outlined income for the third quarter decreased 14.29 percent of $ 4.90 million or $ 0.18 per share, compared to income of $ 5.50 million or $ 0.21 per share for the year-ago quarter., while Wall street analysts are predicting, income of $ 0.17 per share

The revenue for the third quarter up 19.36 percent to $ 85.70 million from $ 71.80 million in the same quarter last year

Analysts estimates are from Thomson Reuters, exclude one time gain or loss.

Michael Stein, CEO, said, Across the Company, Genie Energy continued its strong performance with a solid third quarter. Domestically, we increased our customer base within our existing markets and entered a huge new deregulated market – Texas, with over seven million addressable meters.

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