Montauk Renewables Q3 net income up 15.6% to $12.9M; updates FY outlook, OKs NC project phase

Montauk Renewables, Inc.

2023-Q3 EPS reported $0.07 revenue$128,097,000

Revenue $55.7M (-0.4% YoY); net income $12.9M (+15.6%); Adj. EBITDA $22.4M (+7.4%).
RNG production 1.4M MMBtu (-4% YoY); realized D3 RIN price fell 12.6% to $3.05.
Updated FY 2023 outlook: RNG revenue $155-160M, RNG production 5.7-5.8M MMBtu; Renewable electricity revenue $17.7-18.7M.
Board approved first phase of NC project; capex $140-160M; first production expected staged from Q2 2024 through Q3 2025.
At full phase, annual output of 190-200K MMBtu, 25-30K MWh, and 17-20K tons char soil enhancement.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.92

Montauk Renewables, Inc. reported the third quarter ended September 30, 2023 results: revenue $55.7 million, net income $12.9 million. Guidance lowered.

Period: the third quarter ended September 30, 2023
Revenue: $55.7 million
Net income: $12.9 million
Guidance: lowered
Result: reported results

Exact text from the filing

of biogas into renewable natural gas (“RNG”), today announced financial results for the third quarter ended September 30, 2023. Third Quarter Financial Highlights: • Revenues of $55.7 million, decreased 0.3% as compared to the third quarter of 2022 • Net Income of $12.9 million, increased 15.6% as compared to the third quarter of 2022 • Non-GAAP Adjusted EBITDA of

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Source: SEC EDGAR

accession 0000950170-23-062114

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