Financial Data and Key Metrics Changes - Total revenues in Q3 2024 were $65.9 million, an increase of $10.2 million or 18.4% compared to $55.7 million in Q3 2023, primarily due to an increase in the number of RINs self-marketed and a 9.5% increase in realized RIN pricing [21] - General and administrative expenses were $10 million, an increase of $2.2 million or 27.9% compared to $7.8 million in Q3 2023, driven by increased employee-related costs [22] - Operating income for Q3 2024 was $22.7 million, an increase of $5.9 million or 35.3% compared to $16.8 million in Q3 2023 [37] - Adjusted EBITDA for Q3 2024 was $29.4 million, an increase of $7 million or 31.3% compared to $22.4 million in Q3 2023 [42] Business Line Data and Key Metrics Changes - Renewable natural gas (RNG) segment revenues in Q3 2024 were $61.8 million, an increase of $10.8 million or 21.2% compared to $50.9 million in Q3 2023 [26] - RNG production was approximately 1.4 million MMBtu, flat compared to Q3 2023, with production variances across facilities due to weather and operational factors [23] - Renewable electricity revenues decreased to $4.2 million, a decrease of $0.6 million or 12.3% compared to $4.8 million in Q3 2023, primarily due to the cessation of operations at a facility [34] Market Data and Key Metrics Changes - Average pricing realized on RIN sales during Q3 2024 was $3.34, an increase from $3.05 in Q3 2023, while the average D3 rent index price was $3.36, up from $3.01 [27] - The company self-marketed 15.8 million RINs, a 2 million increase or 14.5% compared to Q3 2023 [27] Company Strategy and Development Direction - The company is constructing its second Apex RNG facility, expected to be commissioned in 2025, driven by increased landfill waste intake [7] - The Blue Granite RNG project has faced delays due to utility remediation efforts from Hurricane Helene, shifting commissioning expectations to 2027 [8] - The company is also engaged in a swine waste-to-energy project in North Carolina, with regulatory approvals progressing [12] Management's Comments on Operating Environment and Future Outlook - Management noted that landfill-driven delays in wellfield projects are expected to impact RNG production volumes, projecting full-year production between 5.5 million and 5.7 million MMBtus [44] - The company does not provide guidance on market prices for environmental attributes but acknowledges recent trends may affect future revenue strategies [45] Other Important Information - The company recorded impairments of $0.5 million in Q3 2024, primarily related to obsolete RNG equipment [36] - As of September 30, 2024, the company had cash and cash equivalents of approximately $55 million and accounts receivable of approximately $19.2 million [41] Q&A Session Summary - No specific questions or answers were documented in the provided content, indicating a focus on closing comments and future engagement [45]

Investor Presentation THIRD QUARTER 2024 RESULTS NOVEMBER 12, 2024 Cautionary Statement Regarding Forward-Looking and non-GAAP Financial Information This presentation contains "forward-looking statements" within the meaning of U.S. federal securities laws. Such statements include, among others, those we make relating to our estimated and projected financial condition, results of operations, costs and expenditures and objectives for future operations, growth, initiatives and strategies. They also include tho ...

Operations and Projects - Montauk Renewables operates 12 RNG and two Renewable Electricity projects across eight states, making it one of the largest U.S. producers of RNG[83]. - The Second Apex RNG Facility is expected to contribute 2,100 MMBtu/day of production capacity, with an estimated capital expenditure of $30,000-$40,000, anticipated to commence operations in Q2 2025[88][89]. - The Bowerman RNG Project in California is projected to have a capacity of 3,600 MMBtu/day, with capital investment expected between $85,000 and $95,000, and commissioning anticipated in 2027[91]. - A contract for the delivery of 140 thousand tons per year of biogenic CO2 was signed, with delivery expected to begin in 2027 and capital investment estimated between $65,000 and $75,000[92][93]. - The first phase of the North Carolina development project is expected to require a capital investment of $140,000-$160,000, with sufficient capacity to satisfy the Duke REC agreement upon completion[95]. - The Turkey, NC facility is expected to begin generating revenues in 2025, with a rolling commissioning schedule for processing lines through the second half of 2025[98]. - A collaboration with Emvolon aims to transform methane emissions into green methanol, with a pilot project expected to produce up to 15 thousand gallons annually, potentially scaling to 2,400 gallons[101]. - The company is expanding into livestock farm projects, which are projected to provide a lucrative opportunity due to higher LCFS credit values compared to landfill projects[104]. - The company is exploring various strategic growth opportunities, including up to three LFG RNG and wastewater treatment RNG projects[170]. Financial Performance - Total revenues for Q3 2024 were $65,917, an increase of $10,229 (18.4%) compared to $55,688 in Q3 2023, primarily driven by an increase in self-marketed RINs[124]. - Renewable Natural Gas (RNG) total revenues reached $61,750 in Q3 2024, up by $10,815 (21.2%) from $50,935 in Q3 2023[122]. - Total operating revenues for the nine months ended September 30, 2024, were $148,042 million, an increase of $19,945 million (15.6%) compared to $128,097 million in the same period of 2023[140]. - Renewable Natural Gas segment revenues increased to $134,575 million, up $20,247 million (17.7%) from $114,328 million in the first nine months of 2023[143]. - Net income for Q3 2024 was $17,048, an increase of $4,114 (31.8%) compared to $12,934 in Q3 2023[123]. - Operating income for the first nine months of 2024 was $25,944 million, an increase of $9,773 million (60.4%) compared to $16,171 million in the same period of 2023[157]. - The company generated $43,071 in cash from operating activities for the first nine months of 2024, compared to $19,587 in the same period of 2023, marking a 119.9% increase[171]. Production and Sales Metrics - In Q1 2023, 11,215 RINs were available for sale, with 2,949 sold, resulting in a 26.3% sales rate; by Q4 2023, the sales rate increased to 99.0% with 10,796 sold out of 10,904 available[87]. - RNG production volumes for Q3 2024 were 1,392 MMBtu, a slight increase of 12 MMBtu (0.9%) compared to 1,380 MMBtu in Q3 2023[125]. - Current RIN generation for Q3 2024 was 12,374, a decrease of 524 (4.1%) from 12,898 in Q3 2023[122]. - Total RINs available for sale increased by 1,382 (9.5%) to 15,896 in Q3 2024 compared to 14,514 in Q3 2023[122]. Expenses and Income - Total operating expenses for Q3 2024 were $43,209, an increase of $4,302 (11.1%) compared to $38,907 in Q3 2023[123]. - General and administrative expenses rose to $10,037 in Q3 2024, up by $2,189 (27.9%) from $7,848 in Q3 2023[123]. - Operating and maintenance expenses for Renewable Electricity facilities in Q3 2024 were $2,703, an increase of $483 (21.8%) compared to $2,220 in Q3 2023[131]. - Impairment losses in Q3 2024 were $533, an increase of $482 (945.1%) compared to $51 in Q3 2023[133]. Market and Regulatory Environment - The demand for Renewable Natural Gas (RNG) is driven by regulatory initiatives, efficiency in operations, and increasing use of compressed natural gas (CNG) vehicles[102]. - The EPA set final volumes for cellulosic biofuel at 838 million D3 RINs for 2023, 1,090 million for 2024, and 1,376 million for 2025, indicating a growing market for RNG[106]. - The pricing of Environmental Attributes, including RINs, is subject to volatility, impacting overall revenue generation[116]. Capital Expenditures and Debt - Capital expenditures for the first nine months of 2024 totaled $53,334, with significant investments in Montauk Ag Renewables and the Bowerman RNG project[172]. - The company expects 2024 non-development capital expenditures to range between $14,000 and $16,000, while development capital expenditures are estimated between $55,000 and $65,000[169]. - As of September 30, 2024, total debt before debt issuance costs was $58,000, down from $64,000 at December 31, 2023[162]. - The term loan under the Amended Credit Agreement has an interest rate of 6.12% as of September 30, 2024, with quarterly installments of $2,000 through 2024[164]. - The company is in compliance with all applicable financial covenants under the Amended Credit Agreement as of September 30, 2024[167]. Impairment and Asset Evaluation - The company recorded impairment of $1,232 million and $777 million for the nine months ended September 30, 2024, and 2023, respectively[190]. - The recoverability of finite-lived and indefinite-lived intangible assets is assessed based on future cash flows associated with gas rights agreements, which are expected to exceed carrying amounts[189]. - The fair value of impaired assets is determined by the present value of expected future cash flows, which may vary significantly from actual results due to market conditions[188]. - The company evaluates its deferred tax assets at each reporting period, considering both positive and negative evidence for future realization[186]. - Intangible assets with finite useful lives are amortized on a straight-line basis and evaluated for impairment when circumstances indicate potential non-recoverability[187]. Accounting and Compliance - The company is classified as an emerging growth company, allowing it to delay the adoption of new accounting standards[191]. - There have been no material changes in market risk disclosures since the 2023 Annual Report[192].

Financial Performance - Revenues for Q3 2024 were $65.9 million, an increase of 18.4% compared to $55.7 million in Q3 2023[2] - Net income for Q3 2024 was $17.0 million, up 31.8% from $12.9 million in Q3 2023[2] - Total operating revenues for Q3 2024 reached $65,917, a 18.8% increase from $55,688 in Q3 2023[17] - Operating income for Q3 2024 was $22,708, up 35.4% from $16,781 in Q3 2023[17] - Net income for the nine months ended September 30, 2024, was $18,186, compared to $10,149 for the same period in 2023, reflecting an increase of 79.5%[18] - Adjusted EBITDA for the nine months ended September 30, 2024, was $45,863, an increase from $33,203 in 2023, representing a growth of 38.4%[21] Production and Sales - RINs sold reached 15.8 million, a 14.5% increase compared to Q3 2023[1] - RNG production was 1.4 million MMBtu, flat compared to Q3 2023, with an estimated loss of 50 thousand MMBtu due to Hurricane Beryl[3] - The company has entered into commitments to transfer RINs from Q4 2024 production at an average price of approximately $3.52[1] Revenue Guidance - Full year RNG revenue guidance is projected between $175 million and $185 million[4] - Renewable Electricity revenues are expected to range between $17.0 million and $18.0 million for the full year[4] Expenses and Liabilities - General and administrative expenses increased by 27.9% to $10.0 million in Q3 2024, primarily due to accelerated vesting of restricted share awards[2] - Total liabilities decreased slightly to $98,781 from $99,999, indicating a reduction of 1.2%[14] Assets and Equity - Total current assets decreased to $79,276 as of September 30, 2024, down from $90,175 as of December 31, 2023, a decline of 12.5%[14] - Cash and cash equivalents at the end of the period were $54,973, down from $73,811 at the end of 2023, a decrease of 25.5%[14] - The company reported a total stockholders' equity of $275,337 as of September 30, 2024, compared to $250,239 at the end of 2023, an increase of 10.0%[16] - The company’s total assets increased to $374,118 as of September 30, 2024, up from $350,238 at the end of 2023, a growth of 6.8%[14] Capital Expenditures - Capital expenditures for Q3 2024 amounted to $53,334, compared to $45,406 in Q3 2023, reflecting an increase of 17.5%[18] Operational Challenges - The company is experiencing delays in landfill host installations, impacting future production increases[4]

Core Insights - Montauk Renewables, Inc. reported strong financial results for Q3 2024, with significant increases in revenues and net income compared to the same period in 2023 [1][2][3] Financial Performance - Total revenues for Q3 2024 were $65.9 million, an increase of $10.2 million (18.4%) from $55.7 million in Q3 2023 [2] - Net income for Q3 2024 was $17.0 million, up $4.1 million (31.8%) from $12.9 million in Q3 2023 [2] - Non-GAAP Adjusted EBITDA reached $29.4 million, reflecting a 31.3% increase compared to Q3 2023 [1] - RINs sold amounted to 15.8 million, a 14.5% increase from the previous year [1] Operational Highlights - RNG production was stable at 1.4 million MMBtu, unchanged from Q3 2023, but impacted by Hurricane Beryl, which caused an estimated production loss of 50 thousand MMBtu [1][3] - The Pico facility saw an increase in production by 27 thousand MMBtu due to a digestion expansion project [3] - Renewable Electricity production decreased to approximately 41 thousand MWh, down 7 thousand MWh from Q3 2023 [3] Future Outlook - The company expects RNG revenues for the full year 2024 to range between $175 million and $185 million, with production volumes projected between 5.5 and 5.7 million MMBtu [4] - Renewable Electricity revenues are anticipated to be between $17 million and $18 million, with production volumes expected to be between 180 and 185 thousand MWh [4] - Delays in landfill host installations may impact future production increases, with expectations for these trends to continue into 2025 [4] Environmental Initiatives - Montauk was selected for a pilot project to recover and convert biogas into green methanol, aiming to create carbon-negative fuel [1] - The company is committed to reducing landfill-based emissions and enhancing its environmental sustainability efforts [1]

PITTSBURGH, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Montauk Renewables, Inc. ("Montauk" or "the Company") (NASDAQ: MNTK), a renewable energy company specializing in the management, recovery and conversion of biogas into renewable natural gas ("RNG"), will host a conference call and webcast on Tuesday, November 12, 2024, at 5:00 p.m. Eastern time to discuss its financial results for the third quarter ended September 30, 2024. The Company will issue a press release reporting the financial results after the close of ...

MONTAUK RENEWABLES, INC. Incorporated in the United States of America Company number: 85-3189583 NASDAQ share code: MNTK JSE share code: MKR ISIN: US61218C1036 ("Montauk Renewables" or the "Company") UNAUDITED CONSOLIDATED RESULTS For the six months ended 30 June 2024 Dollar amounts presented herein are in United States Dollars | --- | --- | --- | --- | --- | |-----------------------------------------------------|---------|-------------------------------------|---------------------------------------|------- ...

Montauk Renewables, Inc. (NASDAQ:MNTK) Q2 2024 Earnings Conference Call August 8, 2024 5:00 PM ET Company Participants John Ciroli – Chief Legal Officer and Secretary Sean McClain – President and Chief Executive Officer Kevin Van Asdalan – Chief Financial Officer Conference Call Participants Matthew Blair – TPH Saumya Jain – UBS Paul Cheng – Scotiabank Operator Good afternoon, everyone, and thank you for participating in today’s conference call. I would like to turn the call over to Mr. John Ciroli as he pr ...

Investor Presentation SECOND QUARTER 2024 RESULTS AUGUST 8, 2024 Cautionary Statement Regarding Forward-Looking and non-GAAP Financial Information This presentation contains "forward-looking statements" within the meaning of U.S. federal securities laws. Such statements include, among others, those we make relating to our estimated and projected financial condition, results of operations, costs and expenditures and objectives for future operations, growth, initiatives and strategies. They also include those ...

Montauk Renewables (MNTK) came out with a quarterly loss of $0.01 per share versus the Zacks Consensus Estimate of $0.06. This compares to earnings of $0.01 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -116.67%. A quarter ago, it was expected that this renewable energy company would post a loss of $0.02 per share when it actually produced earnings of $0.01, delivering a surprise of 150%. Over the last four quarters, the com ...