Montauk Renewables Q2 revenue beats estimates on higher RINs sales

Montauk Renewables

05/08/2026 22:17

Overview
US biogas-to-RNG producer's Q2 revenue rose 20%, beating analyst expectations
Q2 adjusted EBITDA increased 145% and beat analyst expectations
Revenue growth driven by higher RINs sales, offsetting lower commodity RNG revenue

Outlook
Montauk sees 2026 RNG revenues between $175 mln and $190 mln, unchanged
Company expects 2026 RNG production volumes of 5.8 mln to 6.0 mln MMBtu, unchanged
Montauk lowers 2026 REG revenues and volumes outlook due to delayed Montauk Ag Renewables facility ramp-up

Result Drivers
RIN SALES - Revenue growth was primarily driven by increased RINs sold, especially from the GreenWave joint venture
CONTRACT EXPIRATION - RNG commodity revenue decreased 63.7% due to expiration of fixed price pathway contracts
FACILITY OUTPUT CHANGES - McCarty and Apex facilities increased RNG production due to wellfield and collection system enhancements, while Galveston and Atascocita saw declines from operational changes and maintenance

Company press release: ID:nGNXbz9Mnm

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$54 mln
$49.34 mln (3 Analysts)
Q2 Net Income
 
$200,000
 
Q2 Adjusted EBITDA
Beat
$12.30 mln
$11.15 mln (3 Analysts)
Q2 Operating income
 
-$100,000
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electric utilities peer group is "buy."
Wall Street's median 12-month price target for Montauk Renewables Inc is $1.60, about 5.9% below its August 4 closing price of $1.70
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 10 three months ago

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Aug 3 - Germany's Verbio prelim FY EBITDA tops guidance on higher selling prices

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)