NASDAQ$MNTK
Montauk Renewables Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Montauk Renewables reported an increase in revenue and net income for the third quarter of 2024.
Montauk Renewables announced strong third-quarter results, with an 18.4% increase in revenues to $65.9 million and a 31.8% increase in net income to $17.0 million compared to the third quarter of 2023. The company's RNG production remained flat at 1.4 million MMBtu, while RINs sold increased by 14.5%.
- RINs sold increased by 14.5% compared to Q3 2023, reaching 15.8 million.
- Revenues increased by 18.4% to $65.9 million compared to Q3 2023.
- Net Income increased by 31.8% to $17.0 million compared to Q3 2023.
- Non-GAAP Adjusted EBITDA increased by 31.3% to $29.4 million compared to Q3 2023.
Headline financials
Revenue & EPS history
Montauk Renewables · Revenue · Quarterly
$65.9M
Forward guidance
Montauk Renewables provided its revised full year outlook for 2024.
Tailwinds
- RNG revenues are expected to range between $175 and $185 million
- RNG production volumes are expected to range between 5.5 and 5.7 million MMBtu
- Renewable Electricity revenues are expected to range between $17.0 and $18.0 million
- Renewable Electricity production volumes are expected to range between 180 and 185 thousand MWh
- The company is considering entry into multiple short term contracts throughout 2025 to mitigate recent market trends.
Headwinds
- Landfill hosts are delaying installation of wellfield collection infrastructure, impacting feedstock gas and production.
- These landfill-driven delays are expected to continue through 2025.
- Current pathway renewals have been at higher percentages than historical counterparty share percentages.
- Proposed pathway renewals are for percentages significantly higher than historical arrangements.
- The company is considering limiting its near-term 2025 RNG outlook guidance to production only due to uncertainty regarding attribute generation pathways.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
-4.7%
Avg return
Earnings day
-3.0%
Avg return
5 days after
-1.8%
Avg return
30 days after
38%
8 / 21 earnings
Positive
+15.0%
Q1 2024
Best reaction
-35.9%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -5.2% | -6.5% | +7.8% | |
| Q4 2025 | +4.4% | -1.8% | -12.1% | |
| Q3 2025 | -16.1% | +1.5% | -12.3% | |
| Q1 2025 | -9.0% | -4.7% | -13.3% | |
| Q4 2024 | -12.6% | -16.5% | -16.5% | |
| Q3 2024 | -22.3% | -22.1% | -22.7% | |
| Q2 2024 | +2.1% | +2.6% | +2.3% | |
| Q1 2024 | +15.0% | +18.5% | +29.1% | |
| Q4 2023 | -12.1% | -17.2% | -16.4% | |
| Q3 2023 | -35.9% | -10.7% | -14.6% | |
| Q2 2023 | +10.7% | +10.7% | +10.4% | |
| Q1 2023 | -4.7% | +5.0% | +19.5% | |
| Q4 2022 | -9.6% | -8.2% | -20.3% | |
| Q3 2022 | -11.8% | -7.0% | -14.8% | |
| Q2 2022 | +9.5% | +14.5% | +30.3% | |
| Q1 2022 | +0.4% | +11.7% | +34.3% | |
| Q4 2021 | +10.8% | +9.5% | +1.7% | |
| Q3 2021 | -2.3% | -17.7% | -6.8% | |
| Q2 2021 | -13.3% | -15.0% | +24.8% | |
| Q1 2021 | -2.5% | -9.6% | -29.2% | |
| Q4 2020 | +5.9% | +0.7% | -19.7% | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — |
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