Montauk Renewables Announces Third Quarter 2025 Results

About this update from Montauk Renewables, Inc.

PITTSBURGH, Nov. 05, 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 third quarter ended September 30, 2025. Third Quarter Highlights: Revenues of $45.3. million, decreased 31.3% compared to the third quarter of 20240.7 million RINs generated and unseparated as of September 30, 2025Non-GAAP Adjusted EBITDA of $12.8 million, decreased 56.4% year-over-yearRNG production of 1.4 million MMBtu, increased 3.8% compared to third quarter of 2024RINs sold of 12.4 million, decreased 3.3 million or 21.2% year-over-year Our decision to sell an increased amount of our production under fixed/floor-price arrangements contributed to our having less RINs to sell in the 2025 third quarter over the 2024 third quarter. However, we have not experienced an appreciable increase in Environmental Attributes shared with our pathway providers during the third quarter of 2025. In October 2025, we filed response comments to the joint motion with the North Carolina Utility Commission (“NCUC”) requesting they grant modifications or delays only to individual power suppliers that have demonstrated need and compliance best-efforts, require power suppliers that have not achieved 100% compliance in 2025 to apply cumulatively acquired swine RECs to the suppliers unsatisfied 2025 pro rata obligation, and modify the swine RECs set-aside for 2026 and beyond to match the requirement as set by North Carolina in 2018. The EPA indicated their intention to finalize the Supplemental Rule and the RVOs for 2025, 2026 and 2027 by the end of 2025, however, the duration of the US federal government shut down and any residual impacts on EPA staffing after the shutdown concludes may extend finalization of these items into 2026. The average D3 RIN index price for the third quarter of 2025 was $2.19 compared to $3.36 in the third quarter of 2024, a decrease of approximately 34.8%. As we self-market a significant portion of our RINs, a strategic decision to not to commit to transfer available RINs during a period may impact our revenue and operating profit. Third Quarter Financial Results Total revenues in the third quarter of 2025 were $45.3 million, a decrease of $20.6 million (31.3%) compared...

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