Montauk Renewables Announces Full Year 2023 Results [Yahoo! Finance]
Montauk Renewables, Inc. (MNTK)
Company Research
Source: Yahoo! Finance
specializing in the management, recovery, and conversion of biogas into renewable natural gas (“RNG”), today announced financial results for the year ended December 31, 2023. Full Year Highlights: Revenues of $174.9 million, decreased 14.9% year over year Net Income of $14.9 million, decreased 57.5% year over year Non-GAAP Adjusted EBITDA of $46.5 million, decreased 34.1% year over year RNG production of 5.5 million MMBtu, flat year over year While we had flat production volumes in 2023 as compared to 2022, our sales of RINs from RNG increased approximately 2.5% to 44.9 million RINs sold in 2023. However, lower prices of both the average realized price of RINs sold and natural gas resulted in lower revenues in 2023. These 2023 price driven reductions to revenues of approximately $30.7 million were offset through our tiered royalty structure reducing royalty expense in 2023 by approximately $9.3 million, which led to our $20.9 million reduction in 2023 operating income. Our
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News
- Montauk Renewables Schedules First Quarter 2024 Conference Call for Thursday, May 9, 2024, at 5:00 p.m. ETGlobeNewswire
- Montauk Renewables (NASDAQ:MNTK) Could Be Struggling To Allocate Capital [Yahoo! Finance]Yahoo! Finance
- Montauk Renewables, Inc. (NASDAQ: MNTK) had its price target lowered by analysts at Scotiabank from $9.00 to $8.00. They now have a "sector outperform" rating on the stock.MarketBeat
- Montauk Renewables: Financially Sound, But Beware Of Operational Risks [Seeking Alpha]Seeking Alpha
- Montauk Renewables, Inc. (NASDAQ:MNTK) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
MNTK
Earnings
- 11/9/23 - In-Line
MNTK
Sec Filings
- 4/22/24 - Form DEFA14A
- 4/22/24 - Form DEF
- 4/22/24 - Form ARS
- MNTK's page on the SEC website