MKR Company Report

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Research analysts covering MKR.

Recent press releases and 8-K filings for MKR.

Montauk Renewables Reports Q3 2025 Financial and Operational Results

MKR

Earnings

Guidance Update

New Projects/Investments

Montauk Renewables (MKR) reported Q3 2025 total revenues of $45.3 million, a 31.3% decrease from Q3 2024, primarily due to a decrease in self-marketed RINs and a 31.4% decrease in average realized RIN prices to $2.29.
Adjusted EBITDA for Q3 2025 was $12.8 million, a 56.5% decrease compared to Q3 2024, while net income fell to $5.2 million from $17 million in the prior year period.
Despite revenue declines, RNG production increased by 3.8% to 1.4 million MMBTU in Q3 2025, and renewable electricity production rose by 7.3% to 44,000 megawatt-hours.
The company maintains its full-year 2025 outlook, projecting RNG production volumes between 5.8 and 6 million MMBTUs with corresponding revenues between $150 million and $170 million.
Development efforts for the North Carolina project continue, with total investment for the first phase projected between $180 million and $220 million, and production and revenue generation expected to commence in Q1 2026.

Nov 6, 2025, 1:30 PM

Montauk Renewables Reports Q3 2025 Financial Results

MKR

Earnings

New Projects/Investments

Demand Weakening

Montauk Renewables reported Q3 2025 total operating revenues of $45,258 thousand, a decrease from $65,917 thousand in Q3 2024, resulting in net income of $5,205 thousand and Adjusted EBITDA of $12,823 thousand, both significantly lower than the prior year period.
The decline in revenue was primarily driven by a 35.4% decrease in Renewable Natural Gas Total Revenues to $39,883 thousand and a $1.05 reduction in the average realized RIN price to $2.29 in Q3 2025 compared to Q3 2024.
The company made $51,895 thousand in capital expenditures for Montauk Ag Renewables for the nine months ended September 30, 2025, with an estimated total capital investment range of $180,000 to $220,000 and commercial operations expected in 2026. Additionally, new RNG facilities including Bowerman, European Energy, and Tulsa are anticipated to commence operations in 2027 with estimated capital expenditures ranging from $25,000 thousand to $95,000 thousand for each.