Montauk Renewables Reports First Quarter 2022 Results with Revenue Up 2.3% and Net Loss Down 92.2%

Montauk Renewables, Inc.

2022-Q1 EPS reported -$0.01 revenue$32,169,000

Revenues of $32.2 million for Q1 2022, up 2.3% from $31.4 million in Q1 2021.
Net loss of $1.1 million improved 92.2% from a net loss of $14.3 million in Q1 2021.
Non-GAAP Adjusted EBITDA of $7.0 million, up 221.8% compared to $2.2 million in Q1 2021.
RNG production of 1.4 million MMBtu, up 1.5% from Q1 2021; renewable electricity production down 4.2%.
Realized D3 RIN pricing increased 81.2% to $3.46, partially offset by $3.5 million in gas commodity hedging losses.

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