Montauk Renewables Q2 2024 net loss $0.7M; revenue down 18.6% on strategic RIN deferral

Montauk Renewables, Inc.

2024-Q2 EPS reported $0.01 revenue$82,125,000

Revenue $43.3M (-18.6% YoY); net loss $0.7M vs net income $1.0M YoY.
Non-GAAP Adj. EBITDA $7.0M (-63.7% YoY) driven by lower RIN monetization.
Unsold RINs 4.7M (+58.7%); July commitments at avg $3.32 vs Q2 index $3.20.
RNG production flat at 1.4M MMBtu; renewable electricity output 45k MWh (-8% YoY).
FY 2024 guidance unchanged: RNG revenue $195-215M, RNG volumes 5.8-6.1M MMBtu.

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