OPAL Fuels Inc. Q4 2025 Earnings Call Summary

Management attributed flat year-over-year adjusted EBITDA to a 22% decline in D3 RIN prices, which created a $33 million headwind that masked 28% growth in RNG production. Operational improvements drove a significant increase in facility utilization from approximately 70% to the 80% level, with a long-term target of 85% to 86% through better gas collection and plant efficiencies. The Fuel Station Services segment grew 22% despite a 'freight recession' and deferred fleet investment decisions caused by ...