10-K · March 11, 2026
Montauk Renewables reported a slight increase in total revenues to $176.4 million in 2025, signaling stability despite a decline in average RIN prices by 29% to $2.33. The company's net income fell significantly by 82%…
Earnings analysis · 10-Q
MNTK earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
Montauk Renewables, Inc. reported Q1 2026 results with revenue of $46.4 million, marking a 9.0% increase from $42.6 million in Q1 2025. The company incurred an operating loss of $1.6 million but saw substantial growth…
Read full summary
Montauk Renewables, Inc. reported Q1 2026 results with revenue of $46.4 million, marking a 9.0% increase from $42.6 million in Q1 2025. The company incurred an operating loss of $1.6 million but saw substantial growth in Environmental Attribute revenues, driven by a significant year-over-year rise in RINs sold. Management remains cautious about decreasing RNG revenues and rising operating costs, but expressed optimism about ongoing development projects and expanding RNG capacity.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Segment
- Renewable Natural Gas
- Segment
- Renewable Electricity Generation
What stood out
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Revenue Increase
Total revenue increased to $46.4 million, a 9.0% rise from $42.6 million in Q1 2025.
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Adjusted EBITDA Growth
Adjusted EBITDA rose by 22.8% to $10.8 million year-over-year.
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RIN Sales Boost
Sold 12,403 RINs in Q1 2026, up 25.5% from 9,885 RINs in Q1 2025.
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Improved Cash from Operations
Operating cash flow improved to $15.8 million, up from $9.1 million in Q1 2025.
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New Credit Facility
Entered New Senior Credit Facility of up to $200 million, enhancing liquidity.
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Decreased General and Administrative Expenses
General and administrative expenses decreased by 8.4% to $8.0 million compared to Q1 2025.
What to watch
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Rising Operating Costs
Operating expenses surged 31.9% to $23.2 million from $17.6 million in Q1 2025.
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Decreased RNG Revenue
RNG segment revenues fell by 1.0% to $38.1 million, impacted by a significant reduction in sales under fixed-price contracts.
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Impairment Loss Increases
Impairment losses reported at $443, a substantial reduction compared to $2.0 million in Q1 2025.
Management's outlook
Total revenue guidance for FY 2026 remains unchanged at $175M-$190M.
Earlier filings 4
10-Q · November 5, 2025
Montauk Renewables reported a decrease in total revenue by 31.3% year-over-year to $45.26 million for Q3 2025, driven by reduced RIN marketing. The company also experienced a significant drop in operating income by…
10-Q · August 6, 2025
Montauk Renewables, Inc. reported a modest revenue increase of 4.1% year-over-year in Q2 2025, reaching $45.1 million, driven primarily by the Renewable Natural Gas segment, despite a significant drop in EPS to -$0.04…
10-Q · May 8, 2025
Montauk Renewables reported a total revenue of $42.6 million for Q1 2025, a 9.8% increase from $38.8 million in Q1 2024, primarily due to increased sales of RINs. However, the net loss for the quarter was $464,…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.