Montauk Renewables falls after reporting lower full-year profit

Montauk Renewables

13/03/2025 19:48

Updates

** Shares of clean energy company Montauk Renewables MNTK.O fall 11.6% to $2.52

** Company reports full-year net income of $9.70 million, down 34.8% from a year ago

** MNTK posts 2024 adjusted core profit of $42.6 million, vs est. of $61.84 million, according to data compiled by LSEG

** "We think MNTK's 4Q24 results will have a slightly negative impact on near-term share price performance, but results were not nearly as bad as the headline figures suggest" - Scotiabank analyst Betty Zhang

** Company forecasts 2025 renewable natural gas (RNG) revenues in the range of $150 million to $170 million

** MNTK forecasts 2025 RNG production volumes to be in the range of 5.8 million British thermal units to 6 mmBtu

** Including session's moves, stock down 36.2% YTD

 (Reporting by Pooja Menon in Bengaluru)

 ((Pooja.Menon@thomsonreuters.com;))