Montauk Renewables Q2 revenue falls 21.5%, net income down 94.8% to $1M

Montauk Renewables, Inc.

2023-Q2 EPS reported -$0.02 revenue$72,409,000

Revenue $53.3M, down 21.5% YoY; net income $1.0M, down 94.8% YoY.
Non-GAAP adjusted EBITDA $19.2M, down 30.4% YoY; RNG production 1.4M MMBtu, down 2.6%.
Announced $85-95M RNG project at Frank R. Bowerman Landfill, Irvine, CA, targeting 2026 commissioning.
Updated 2023 guidance: RNG revenue $160-175M, RNG production 5.7-6.1M MMBtu.
Realized RIN pricing dropped 36.1% to $2.16; gas commodity indices down 70.7% YoY.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Montauk Renewables, Inc. reported the second quarter ended June 30, 2023 results: revenue $53.3 million, net income $1.0 million. Guidance reaffirmed.

Period: the second quarter ended June 30, 2023
Revenue: $53.3 million
Net income: $1.0 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

of biogas into renewable natural gas (“RNG”), today announced financial results for the second quarter ended June 30, 2023. Second Quarter Financial Highlights: • Revenues of $53.3 million, decreased 21.5% as compared to the second quarter of 2022 • Net Income of $1.0 million, decreased 94.8% as compared to the second quarter of 2022 • Non-GAAP Adjusted EBITDA of

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Source: SEC EDGAR

accession 0000950170-23-040644

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