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Montauk Renewables (MNTK) investor relations material
Montauk Renewables Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Q3 2025 revenues were $45.3 million, down 31.3% year-over-year, mainly due to lower RIN sales and a 31.4% drop in realized RIN prices.
Net income for Q3 2025 was $5.2 million, a decrease of 69.5% from Q3 2024.
Adjusted EBITDA for Q3 2025 was $12.8 million, down 56.5% year-over-year.
RNG production increased 3.8% year-over-year to 1.4 million MMBtu, with higher output at Apex and Rumpke facilities.
Renewable electricity production rose 7.3% to 44,000 MWh, with Bowerman facility contributing most of the increase.
Financial highlights
Q3 2025 total operating revenues: $45.3 million (down 31.3% YoY); nine months: $133.0 million (down 10.2% YoY).
Q3 2025 operating income: $4.4 million, down 80.4% year-over-year.
Average realized RIN price was $2.29, down 31.4% from $3.34 in Q3 2024.
Operating and maintenance expenses for RNG facilities increased 10.6% to $13.9 million.
Cash and cash equivalents at September 30, 2025, were $6.8 million, down from $55.0 million a year earlier.
Outlook and guidance
2025 RNG production expected between 5.8–6.0 million MMBtu, with revenues of $150–$170 million.
Renewable electricity production for 2025 projected at 175,000–180,000 MWh, with revenues of $17–$18 million.
Ongoing development projects include Bowerman, Montauk Ag Renewables, and EENA CO2, with 2025 development capex expected between $90 million and $120 million.
Montauk Ag Renewables project in North Carolina expected to commence significant revenue generation in 2026, with a capital investment of $180–$220 million.
Regulatory changes and market volatility in RIN and LCFS pricing expected to impact future results.
How does SRE reallocation delay affect RINs?
NCUC motion impact on swine REC monetization?
GreenWave JV's strategic impact on RNG utilization?
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Next Montauk Renewables earnings date
Q4 202512 Mar, 2026
Next Montauk Renewables earnings date
Q4 202512 Mar, 2026
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Frequently asked questions
Montauk Renewables, Inc., a renewable energy company, engages in recovery and processing of biogas from landfills and other non-fossil fuel sources. The company generates electricity from installed generators of approximately 25 MW capacity; and distributes the electricity to customers served by Long Island Power Authority. Renewables, Inc. is based in Pittsburgh, Pennsylvania.
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