OPAL Fuels Q2 revenue up 29% to $71M; Adj EBITDA $18.9M; RNG production target lowered

OPAL Fuels Inc.

2024-Q2 EPS reported -$0.02 revenue$135,902,000

Revenue $71.0M (+29% YoY); Net income $1.9M vs $114.1M prior year (included $122.9M non-cash gain).
Adjusted EBITDA $18.9M, up from $5.1M YoY; maintains FY 2024 guidance of $90M-$100M.
RNG produced 0.9M MMBtu (+50% YoY); FY RNG production guidance lowered to 4.0-4.4M MMBtu from 4.4-4.8M.
Added Burlington RNG facility (0.46M MMBtu annual design capacity) with South Jersey Industries; portfolio now 10.8M MMBtu.
RNG sold as transportation fuel 18.7M GGEs (+70% YoY); Fuel Station Services segment sold 36.6M GGEs (+3%).

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