Genie Energy Ltd. (NYSE:GNE) Q2 2022 Earnings Conference Call August 8, 2022 8:30 AM ET

Company Participants

Brian Siegel - Investor Relations

Michael Stein - Chief Executive Officer

Avi Goldin - Chief Financial Officer

Conference Call Participants

Aaron Shafter - Great Mountain Capital Management

Jason Lustig - J. Goldman

Operator

Good morning and welcome to Genie Energy’s Second Quarter 2022 Earnings Call. [Operator Instructions] Please note this event is being recorded. I will now turn the call over to Brian Siegel of Hayden IR.

Brian Siegel

Thank you. With me today are Michael Stein, Genie Energy’s CEO; and Avi Goldin, Genie Energy’s CFO, who will discuss operational and financial results for the 3 months period ended June 30, 2022.

Any forward-looking statements made during this conference call, either in the prepared remarks or in the Q&A session, whether general or specific in nature, are subject to risks and uncertainties that may cause actual results to differ materially from those which the company anticipates. These risks and uncertainties include, but are not limited to, specific risks and uncertainties discussed in the reports that we filed periodically with the SEC. Genie assumes no obligation to either update any forward-looking statements that we have made or may make or to update the factors that may cause actual results to differ materially from those that they forecast.

During their remarks, management may make reference to adjusted EBITDA, a non-GAAP measure. Management believes that its measure of adjusted EBITDA provides useful information to both management and investors that supplement our core operating results. Our earnings release includes a reconciliation of consolidated adjusted EBITDA to its nearest comparable GAAP measures, consolidated net income and income from operations for all periods presented. In addition, adjusted EBITDA for applicable segments are reconciled in the earnings release to their respective segment’s income from operations for all periods presented. Our earnings release is posted on our Investor Relations page at genie.com and has been filed on Form 8-K with the SEC.

I will now turn the conference over to Michael Stein, Genie’s Chief Executive Officer. Michael?

Michael Stein

Thank you, Brian. Welcome to Genie Energy’s second quarter 2022 earnings call. Today, I will provide some color on our second quarter results and then discuss our strategy moving forward. After my remarks, Avi Goldin, our Chief Financial Officer, will provide a deeper dive into our financial results. After Avi, we will be glad to take your questions.