Genesis Energy Limited, formerly Genesis Power Limited is a New Zealand publicly listed electricity generation and electricity, natural gas and LPG retailing company. It was formed as part of the 1998–99 reform of the New Zealand electricity sector, taking its generation capacity from the breakup of the Electricity Corporation of New Zealand (ECNZ) and taking retail customers from three local power boards in the Lower North Island. The New Zealand Government owns a 51% share of the company.3 Its shares trade on NYSE under the symbol GNE.1Wikipedia text CC BY-SA 4.0
Genesis Energy Limited, formerly Genesis Power Limited is a New Zealand publicly listed electricity generation and electricity, natural gas and LPG retailing company. It was formed as part of the 1998–99 reform of the New Zealand electricity sector, taking its generation capacity from the breakup of the Electricity Corporation of New Zealand (ECNZ) and taking retail customers from three local power boards in the Lower North Island. The New Zealand Government owns a 51% share of the company.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Revenue10111213146$502.0M in 2025+79% since 2018Gross profit10111213146$124.7M in 2025+63% since 2018Operating income10111213146$27.7M in 2025+131% since 2018Net income10111213146$24.0M in 2025+5% since 2018
Revenue1561617$100.4M in Q2 FY2026−27% since Q3 FY2025Gross profit151617$33.7M in Q2 FY2026+12% since Q3 FY2025Operating income1561617$6.5M in Q2 FY2026−6% since Q3 FY2025Net income1561617$11.4M in Q2 FY2026+69% since Q3 FY2025
Total assets1011121318146$389.4M in 2025+165% since 2018Total liabilities1011121318146$144.9M in 2025+167% since 2018Shareholders’ equity1011121318146$250.9M in 2025+142% since 2018Cash10111213146$203.5M in 2025+389% since 2018Long-term debt106$6.5M in 2025+657% since 2019
Total assets151617$369.7M in Q2 FY2026−6% since Q3 FY2025Total liabilities151617$114.5M in Q2 FY2026−44% since Q3 FY2025Shareholders’ equity151617$261.6M in Q2 FY2026+32% since Q3 FY2025Cash151617$184.8M in Q2 FY2026+69% since Q3 FY2025Long-term debt151617$6.5M in Q2 FY2026−4% since Q3 FY2025
Cash from operations10111213146$46.3M in 2025+139% since 2018Dividends paid111213146$8.0M in 2025−16% since 2019Share buybacks1911121314$10.4M in 2024+1075% since 2018
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Genesis Energy Limited sits at the top of its group. 16 entities, 7 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Genesis Energy Limited
JONAS HOWARD S Filed SC 13D/A on Genesis Energy Limited, latest Sep 30, 2024 (4 filings since Feb 28, 2023)
VANGUARD GROUP INC Filed SC 13G/A on Genesis Energy Limited, latest Feb 9, 2022
Israel Energy Initiatives Ltd. Subsidiary · Israel
Lumo Energia Ojy Subsidiary · Finland
Lumo Energy AB Subsidiary · Sweden
Orbit Energy Limited (f/k/a Thistle Energy Supply Limited) Subsidiary · United Kingdom
Petrocycle, Ltd. Subsidiary · Israel
Roded Recycling Industries Ltd. Subsidiary · Israel
Shoreditch Energy Limited Subsidiary · United Kingdom
Town Square Energy Canada, Ltd. Subsidiary · Canada
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Genesis Energy Limited reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Our headquarters are located at 520 Broad St., Newark, New Jersey. Our lease for our office space at 520 Broad Street expired in April 2025 and is for 8,631 square feet and includes two parking spots per thousand square feet of space leased. The annual base rent was $198,513. Upon expiration of the lease, we continue to occupy the space and pay a monthly lease with annual rate of approximately $233,000, while we continue to negotiate a long-term lease with the owner.
GRE’s Jamestown, New York offices are located at 317-321 North Main Street where we lease approximately 4,000 square feet of space. GRE’s Arizona office is located in Gilbert, Arizona where we lease approximately 3,300 square feet. GRE’s Texas office is located in Houston, Texas where we lease approximately 4,200 square feet. GRE’s Florida office is located in Tampa, Florida where we lease approximately 2,400 square feet.
The rest of Item 2
Genie Solar is constructing community solar array projects in Lansing and Perry, New York where we lease 20 acres and 15 acres of land, respectively.
Genie Solar owns and operates a portfolio of 12 solar arrays with an aggregate rating of 9.4 megawatts located in several school facilities in Ohio and Michigan.
Genesis Energy began business on 1 April 1999, after the reform of the New Zealand electricity market and the breakup of the Electricity Corporation of New Zealand (ECNZ). It took over the Huntly Power Station, Tongariro Power Scheme and Waikaremoana Hydro Scheme from ECNZ, and the Hau Nui Wind Farm and the Kourarau Hydro Scheme from Wairarapa Electricity. It also inherited the retail arms of Powerco, Central Power and Wairarapa Electricity, while Powerco and Central Power concentrated on electricity distribution (the distribution arm of Wairarapa Electricity merged with Powerco on the same day).
During 2000 to 2002 Genesis Energy purchased several electricity and gas retailing entities, following changes to laws governing the electricity industry. These included electricity retail businesses of Todd Energy, and electricity and gas customers from NGC (now Vector Limited) and Energy Online.
In September 2013, the company announced a change of name from Genesis Power Limited to Genesis Energy Limited.
On 17 April 2014, the National Government sold a 49% stake in Genesis Energy through an initial public offering at NZ$1.55 per share.
In February 2018, Genesis Energy announced a pathway to a coal-free electricity future for New Zealand by 2030.
In 2024, the company downgraded the reserves at Kupe by 81 petajoules of gas resulting in a $64 million writedown. This, along with other factors including a power station outage, resulted in a steep decline in profits although revenue was up.
Genesis is focusing on electricity management tools for its customers including their app that has been around since 2016 - app functions include energy usage graphs, bill payments and moving home tools
The Genesis website was updated in 2022 and focuses messaging on Energy IQ, joining and moving house through their website content
Subsidiaries
Frank Energy (previously Energy Online)
Genesis Energy purchased Energy Online in December 2002 from the Newcall Group Limited.
Energy Online was rebranded to Frank Energy in 2021.
Read the full text
After continued growth Frank Energy now services more than 110,000 customers with a primary focus on retailing energy services to an expanding customer base in the North Island.
In June 2025, Frank Energy announced that its brand would be wound down and stopped accepting new customers. Existing customers would be moved to Genesis Energy or another retailer of their choice. The announcement came a few days after Consumer magazine gave Frank Energy their People's Choice Award (jointly with Flick Electric) for the power company with the highest customer satisfaction.
Infogen
Genesis energy retailed internet services to its customers through its Infogen service. The service was outsourced and provided by Orcon until it was purchased by Orcon in 2009.
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
209 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 61 major events, 90 insider forms, 7 large holders, 31 other. The latest 20:
14 open-market trades by officers, directors and large owners since October 2021: 0 buys and 14 sales. Grants, option exercises and gifts are left out.
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Genesis Energy Limited is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
From the cover page of the 10-K filed May 1, 2026 (Section 12(b) of the Exchange Act).20
Risk factors and legal proceedings
The risks Genesis Energy Limited names in Item 1A of its 10-K filed May 1, 2026: 31 risks under these headings, as written.20
Risks Related to Genie Retail Energy
The REP business is highly competitive, and we may be forced to reduce prices or incur additional costs.
Our strategy is based on current regulatory conditions and assumptions, which could change or prove to be incorrect.
Unusual weather conditions, which may become more commonplace, may have significant direct and indirect impacts on GRE's results of operations.
Our REP business may be subject to increased costs or liabilities related to the impact of GHG emissions or climate change. which may lead to substantially increased costs, including those beyond our ability to satisfy.
GRE's business is subject to physical, market and economic risks relating to potential effects of climate change, and policies at the national, regional and state levels to regulate GHG emissions and mitigate climate change could adversely impact our results of operations, financial condition and cash flows.
Fixed Rate Products or Guaranteed Pricing Programs could result in losses or decreased profits if GRE fails to estimate future commodity prices and commodity consumption accurately.
Commodity price volatility could have an adverse effect on our cost of revenues and our results of operations.
GRE’s growth depends in part on its ability to enter new markets.
GRE may be subject to future litigation that could limit its operations.
Industry transition risks associated with climate change, including those related to regulatory mandates could negatively impact our financial results.
We face risks that are beyond our control due to our reliance on third parties and our general reliance on the electrical power and transmission infrastructure within the United States.
The other 20 risks
The REP business, including our relationship with our suppliers, is dependent on access to capital and liquidity.
A revision to certain utility best practices and programs in which we participate and with which we comply could disrupt our operations and adversely affect our results and operations.
The REP business depends on maintaining the licenses in the states in which we operate and any loss of those licenses would adversely affect our business, prospects and financial conditions.
Our growth strategy depends, in part, on our acquiring complementary businesses and assets and expanding our existing operations, which we may be unable to do.
Risks Related to GREW
Changes in government regulations and policies can impact the financial viability of solar projects.
The operation and maintenance of our solar facilities are subject to operational risks, the consequences of which could have a material adverse effect on our business operations, financial condition, and the results of operations.
Energy production and total revenues and income from our solar energy projects depend heavily on suitable meteorological and environmental conditions and our ability to accurately predict meteorological conditions.
The energy procurement business faces various market and operational risks.
CityCom product offerings are dependent on outside factors that determine viability
Roded is dependent on proprietary technology and faces manufacturing process risk
General Corporate Risks
We could be harmed by network disruptions, security breaches, or other significant disruptions or failures of our IT infrastructure and related systems or of those we operate for certain of our customers.
Our businesses depend on the continuing efforts of our management team and our personnel with strong industry or operational knowledge and our efforts may be severely disrupted if we lose their services.
A determination that independent contractors are employees could expose us to various liabilities and additional costs.
Uncertainty related to our exit in the Finnish market.
Risk Related to Our Financial Condition and Reporting
We had material weaknesses in our internal control over financial reporting as of December 31, 2025 and in previous years and cannot be certain that additional material weaknesses will not be identified in the future.
We may face litigation and other risks as a result of the Restatement described in this “Comprehensive” Form 10-K and the Amended Reports and material weaknesses in our internal control over financial reporting.
The Company has incurred significant costs in connection with the Restatement of previously issued consolidated financial statements and will continue to incur significant costs to remediate its material weaknesses in internal control.
The Company's failure to timely file its annual report with the SEC could materially and adversely affect its prospective results of operations and may limit it from accessing the public or capital markets to raise debt or equity capital, which may limit the Company's ability to access debt capital financing, which in turn may limit its ability to pursue one of its potential strategies.
Risks Related to Our Capital Structure
Holders of our Class B common stock have significantly less voting power than holders of our Class A common stock.
We are controlled by our principal stockholder, which limits the ability of other stockholders to affect the management of the Company.
The relationships between Howard S. Jonas and IDT Corporation and Rafael Holdings, Inc. could conflict with our stockholders’ interests.
Legal proceedings
Certain legal proceedings in which we are involved are discussed in Note 17, Legal and Regulatory Proceedings, in the Notes to Consolidated Financial Statements in this Annual Report on Form 10-K, which is incorporated by reference.
