You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text. 
Text: Today, we will discuss our operational and financial results for the three months ended September 30, 2020.
As in prior quarters, my remarks will focus on our operational results and key performance indicators.
Avi Goldin, our Chief Financial Officer, will follow with a deeper dive into the quarter's financial results.
Genie Energy added 21,000 net RCEs and 22,000 net meters during the quarter.
Inclusive of Orbit Energy, we ended the third quarter with the largest global customer base in our history, 442,000 RCEs and 558,000 meters.
Our continued expansion has been driven by our long-term investment in customer acquisition and geographic diversification across our REP business.
This quarter, we again delivered growth in our global customer base while returning cash to our stockholders and reporting improved bottom line results.
Let's start with our domestic retail supply business, Genie Retail Energy.
GRE added 7,000 net RCEs and 1,000 net meters during the quarter.
GRE's gross domestic meter adds in the third quarter totaled 44,000, a 4,000 meter increase from the previous quarter but still a 32,000 meter decrease from the pre-COVID-19 level we achieved in the third quarter of last year.
The relaxation of some public health measures over the summer enabled us to resume modest levels of in-person customer acquisition programs in some markets.
We should be able to return to more robust growth in upcoming quarters as we begin marketing in a few new utility territories, provided that governments continue to relax COVID-related selling restrictions.
Monthly average churn fell to 3.7% from 3.9% last quarter and from 5.3% in the year ago quarter.
The decreases reflect our internal efforts to enhance customer retention, the slower pace of gross meter adds since COVID-19, the pandemic-related reductions on customer acquisition efforts by our competitors and the migration of our book toward fixed rate plans, which typically experience lower churn rates than variable rate plans.
GRE's third quarter financial results were keyed by a surge in average electricity consumption per meter, which more than offset modest margin declines.
Midsummer's warm weather and the transition to stay at home during the pandemic both significantly boosted residential demand.
At Genie International, we again delivered strong customer base expansion despite the challenges of the COVID-19 impacted environment.
We added 14,000 net RCEs and 21,000 net meters during the quarter.
At September 30, our International book held 92,000 RCEs and 182,000 meters, contributing 1/5 of our global RCEs and 1/3 of our global meters.
International growth was led by our businesses in Scandinavia and the U.K., while pandemic restrictions severely constrained our ability to market in Japan.
Lumo Energia, our Helsinki-based supply business, delivered an especially strong quarter and entered a significant new market, Sweden.
In the U.K., where we operate through our Orbit Energy joint venture, our meter and RCE counts both increased more than 70% compared to the third quarter a year ago and generated revenue at an annual rate of more than $50 million.
In light of Orbit's rapid growth and promising potential, we bought out our JV partner's interest for $1.7 million last month.
And beginning in the fourth quarter, we will consolidate Orbit's results as a wholly owned subsidiary.
Given the vast size of the U.K. market, the capable local management team in place and the favorable return on investment we've experienced to date, Orbit is on track to become EBITDA accretive within the next two years and to be a significant contributor to Genie's growth for many years to come.
At Genie Oil and Gas, we were able to begin our testing at Afek Ness 10 drilling site in Israel's Golan Heights last week.
The well's initial results were ambiguous, and it is the last site in GOGAS' exploratory program where we could still find clear-cut evidence of a commercially viable resource.
We could have test results this month, and if there's material news to share, we will share it.
Our continued progress would not be possible without their dedication and flexibility.
Take it away, Avi.
My remarks today cover our financial results for the three months ended September 30, 2020.
Throughout my remarks, I compare the third quarter of 2020 results to the third quarter of 2019.
Focusing on the year-over-year rather than the sequential comparisons removes some consideration of the seasonal factors that are characteristic of our Retail Energy business.
Results this quarter were again very strong.
We delivered significant top and bottom line improvements from the year ago quarter, primarily due to strong domestic electricity demand and growth in our international markets.
By the end of the quarter, we enjoyed a significantly fortified balance sheet with enhanced liquidity.
Consolidated revenue increased in the third quarter of 2020 by 12% to $96 million.
Revenue at Genie Retail Energy, or GRE, our domestic REP segment increased 10% to $89 million on a significant increase in average per meter electricity consumption that Michael mentioned.
Strong electricity demand more than compensated for decrease in profit per kilowatt hour sold.
At Genie Retail Energy International, the segment that comprises our REP operations outside of the U.S., revenue increased 92% to $5.8 million on meter growth and higher average revenue per meter.
Consolidated gross profit, predominantly generated by GRE, increased 4% to $27 million as the increase in kilowatt hour sold offset a decrease in gross profit per kilowatt hour sold.
Gross margin decreased 240 basis points to 28.4% on the decrease in gross profit per kilowatt hour sold at GRE.
Our consolidated SG&A spend decreased 3% to $19 million, as domestic restrictions on face-to-face customer acquisition programs during the pandemic slowed the pace of gross meter adds, which was only partially offset by higher spending on customer acquisition internationally.
Equity and the net loss in equity method investees was $146,000 this quarter compared to $238,000 in the year ago quarter, reflecting our share of the results at Atid in Israel.
We did not put additional cash into our U.K. joint venture in the quarter nor in the year ago quarter.
As Michael mentioned, following quarter end, we acquired our partner's stake in the U.K. venture for $1.7 million.
As a result, we will be reporting our U.K. financials as part of our consolidated results going forward.
Consolidated income from operations increased 22% to $8.5 million, while adjusted EBITDA increased 19% to $9.5 million.
The increase has resulted primarily from higher average consumption per meter and decreased domestic customer acquisition spend.
At GRE, income from operations increased 14% to $12.3 million, and adjusted EBITDA increased 13% to $12.6 million.
The loss from operations at Genie International was $1.6 million, and adjusted EBITDA loss came in at $1 million, both unchanged from levels in the year ago quarter.
Consolidated earnings per diluted share increased to $0.24 from $0.18 in the year ago quarter.
Cash generated by GRE further strengthened our balance sheet.
Cash, cash equivalents and restricted cash increased to $49 million at September 30, 2020, from $42 million at the close of the second quarter, while working capital increased to $55 million from $49 million.
To wrap up, Genie delivered another very strong quarter and remains well positioned to continue delivering on its plan.
That concludes my discussion of our financial results.
Now operator, back to you for Q&A.

user
compname reports q3 earnings per share $0.24.
q3 earnings per share $0.24.

assistant