Montauk Renewables Q1 revenue $38.8M (+102.5%), net income $1.9M vs loss

Montauk Renewables, Inc.

2024-Q1 EPS reported $0.01 revenue$38,787,000

Revenue $38.8M (+102.5% YoY); net income $1.9M vs net loss of $3.8M in Q1 2023.
Non-GAAP Adjusted EBITDA $9.5M (+212.7%); sold 7.9M RINs (+167.5%).
Signed second feedstock supply agreement targeting 120k hog spaces under Duke Energy REC agreement.
Reaffirmed 2024 guidance: RNG revenue $195-215M, production 5.8-6.1M MMBtu.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Montauk Renewables, Inc. reported the first quarter ended March 31, 2024 results: revenue $38.8 million, net income $1.9 million. Guidance reaffirmed.

Period: the first quarter ended March 31, 2024
Revenue: $38.8 million
Net income: $1.9 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

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, 2024. First Quarter Financial Highlights: • Revenues of $38.8 million, increased 102.5% compared to the first quarter of 2023 • Net Income of $1.9 million, increased 148.8% compared to the first quarter of 2023

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Source: SEC EDGAR

accession 0000950170-24-057078

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