Start Time: 08:30 January 1, 0000 8:47 AM ET

Genie Energy, Ltd. (NYSE:GNE)

Q1 2022 Earnings Conference Call

May 09, 2022, 08:30 AM ET

Company Participants

Michael Stein - CEO

Avi Goldin - CFO

Brian Siegel - Senior Managing Director, Hayden IR

Conference Call Participants

Operator

Good morning, and welcome to Genie Energy's First Quarter 2022 Earnings Call. All participants will be in a listen-only mode. [Operator Instructions]. After today's presentation by Genie Energy's management, there will be an opportunity to ask questions. Please note this event is being recorded.

I will now turn the call over to Brian Siegel of Hayden IR.

Brian Siegel

Thank you, operator. On this morning's call with me is Michael Stein, Genie's Chief Executive Officer; and Avi Goldin, Genie's Chief Financial Officer who will discuss operational and financial results for the three months period ended March 31, 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 that the company anticipates. These risks and uncertainties include, but are not limited to, specific risks and uncertainties discussed in the reports that we file periodically with the SEC.

Genie assumes no obligation either to update any forward-looking statements that they 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 Genie's 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 to their respective segment's income from operations for all periods presented. Our earnings release is posted on the Investor Relations page of the Genie Corporation Web site, genie.com, and has been filed on a Form 8-K with the SEC.

I will now turn the conference call over to Michael.

Michael Stein

Thank you, Brian. Welcome to Genie Energy's first quarter 2022 earnings call. Today, I will go through a brief overview of our business and opportunities followed by a discussion of our first quarter results. Avi Goldin, our Chief Financial Officer will then provide a deeper dive into the financial results. And then we will be glad to take questions.