Montauk Renewables Q2 revenue beats estimates on higher RINs sales
MNTK•Q2 revenue and EBITDA beat estimates
Montauk Renewables said second-quarter revenue rose 20% and beat analyst expectations, while adjusted EBITDA increased 145% and also beat analyst expectations.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $54 mln | $49.34 mln (3 Analysts) |
| Q2 Net Income | $200,000 | ||
| Q2 Adjusted EBITDA | Beat | $12.30 mln | $11.15 mln (3 Analysts) |
| Q2 Operating income | -$100,000 |
Revenue growth driven by higher RINs sales
Revenue growth was primarily driven by increased RINs sold, especially from the GreenWave joint venture, offsetting lower commodity RNG revenue.
RNG commodity revenue decreased 63.7% due to the expiration of fixed price pathway contracts.
Operational changes affected facility output
McCarty and Apex facilities increased RNG production due to wellfield and collection system enhancements, while Galveston and Atascocita saw declines from operational changes and maintenance.
2026 outlook unchanged for RNG revenues and production volumes
Montauk said it sees 2026 RNG revenues between $175 mln and $190 mln, unchanged, and expects 2026 RNG production volumes of 5.8 mln to 6.0 mln MMBtu, unchanged.
The company lowered its 2026 REG revenues and volumes outlook due to delayed Montauk Ag Renewables facility ramp-up.
