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Montauk Renewables Announces First Quarter 2025 Results
PITTSBURGH, May 08, 2025 (GLOBE NEWSWIRE) -- Montauk Renewables, Inc. (“Montauk” or “the Company”) (NASDAQ: MNTK), a renewable energy company specializing in
About this update from Montauk Renewables, Inc.
[{"type":"text","content":"PITTSBURGH, May 08, 2025 (GLOBE NEWSWIRE) -- Montauk Renewables, Inc. (“Montauk” or “the Company”) (NASDAQ: MNTK), a renewable energy company specializing in the management, recovery, and conversion of biogas into renewable natural gas (“RNG”), today announced financial results for the first quarter ended March 31, 2025. First Quarter Highlights: • Revenues of $42.6 million, increased 9.8% compared to the first quarter of 2024 • Net loss of $0.5 million, compared to net income of $1.9 million for the first quarter of 2024 • Non-GAAP Adjusted EBITDA of $8.8 million, decreased 7.2% year-over-year • RNG production of 1.4 million MMBtu, flat compared to first quarter of 2024 • RINs sold of 9.9 million, increased 2.0 million or 25.3% year-over-year Our profitability is highly dependent on the market price of environmental attributes, including the market price for RINs. As we self-market a significant portion of our RINs, a decision to not to commit to transfer available RINs during a period will impact our revenue and operating profit. As a result of our decision to not commit RINs available to be sold during the 2024 fourth quarter, we had approximately 6.8 million RINs available but unsold at year end. Including these RINs, we have sold all RINs associated to our 2024 RNG production. We have subsequently entered into commitments to transfer the majority of our RINs in inventory as of March 31, 2025. The Environmental Protection Agency’s (“EPA”) Biogas Regulatory Reform Rule became effective in 2025. New rules requiring the separation of RINs after dispensing has delayed by approximately one month our ability to have RINs available for sale from current year production. Additionally, the EPA extending the compliance period for 2024 has impacted the timing of obligated party purchases of RINs from 2025 production. Related to our gas rights agreement with our landfill host at our Rumpke RNG location, in 2025, we began the process of planning the relocation of our existing Rumpke RNG facility. The timing of this project and requirement to relocate the facility coincides with the landfills filling practices to move into the existing area of our now current Rumpke RNG facility and is contractually obligated. We expect to begin capital expenditures for long lead time equipment in the second quarter of 2025 and expect to target a commissi...