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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Total revenues $ 125,049 $ 81,285 $ 323,787 $ 234,150
Cost of revenues 83,967 38,142 211,211 114,082
Gross profit 41,082 43,143 112,576 120,068
Operating expenses:        
Selling, general and administrative (i) [1] 23,196 19,605 68,380 57,796
Income from operations 17,886 23,538 44,196 62,272
Interest income 1,331 194 3,313 259
Interest expense (27) (33) (75) (135)
Unrealized gain (loss) on marketable equity securities and investments 334 57 385 (742)
Other (loss) income, net (4) 156 3,137 (712)
Income before income taxes 19,520 23,912 50,956 60,942
Provision for income taxes (5,018) (6,482) (12,951) (16,791)
Net income from continuing operations 14,502 17,430 38,005 44,151
(Loss) income from discontinued operations, net of taxes (304) (1,459) 5,923 25,929
Net income 14,198 15,971 43,928 70,080
Net loss attributable to noncontrolling interests, net (261) (2,797) (118) (1,056)
Net income attributable to Genie Energy Ltd. 14,459 18,768 44,046 71,136
Dividends on preferred stock (454) (333) (1,448)
Net income attributable to Genie Energy Ltd. common stockholders 14,459 18,314 43,713 69,688
Amounts attributable to Genie Energy Ltd. common stockholders        
Continuing operations 14,763 22,259 37,789 48,368
Discontinued operations (304) (3,945) 5,924 21,320
Net income attributable to Genie Energy Ltd. common stockholders $ 14,459 $ 18,314 $ 43,713 $ 69,688
Basic:        
Continuing operations $ 0.55 $ 0.88 $ 1.48 $ 1.89
Discontinued operations (0.01) (0.15) 0.23 0.83
Earnings per share attributable to Genie Energy Ltd. common stockholders 0.54 0.73 1.71 2.72
Diluted        
Continuing operations 0.54 0.85 1.45 1.84
Discontinued operations (0.01) (0.15) 0.23 0.81
Earnings per share attributable to Genie Energy Ltd. common stockholders $ 0.53 $ 0.7 $ 1.68 $ 2.65
Weighted-average number of shares used in calculation of earnings per share:        
Basic 26,615 25,233 25,541 25,623
Diluted 27,362 26,205 26,056 26,261
Dividends declared per common share $ 0.075 $ 0.075 $ 0.225 $ 0.225
Electricity        
Revenues:        
Total revenues $ 114,002 $ 73,764 $ 268,688 $ 186,207
Natural gas        
Revenues:        
Total revenues 4,990 6,153 40,890 40,754
Other        
Revenues:        
Total revenues $ 6,057 $ 1,368 $ 14,209 $ 7,189
[1] Stock-based compensation included in selling, general and administrative expenses