Montauk Renewables experienced a challenging third quarter in 2025, with total revenues decreasing by 31.3% to $45.3 million and net income falling by 69.5% to $5.2 million. This decline was largely attributed to a decrease in RINs sold and a lower average realized RIN price. Despite these financial setbacks, the company saw an increase in both RNG and renewable electricity production volumes.
Total revenues for Q3 2025 were $45.3 million, a 31.3% decrease compared to $65.9 million in Q3 2024.
Net income for Q3 2025 was $5.2 million, a 69.5% decrease from $17.0 million in Q3 2024.
Adjusted EBITDA for Q3 2025 was $12.8 million, a 56.4% decrease year-over-year.
RNG production increased by 3.8% to 1.4 million MMBtu, and renewable electricity production increased by 7.3% to 44 thousand MWh in Q3 2025 compared to Q3 2024.
Montauk Renewables maintains its full-year 2025 outlook for RNG revenues and production volumes, as well as Renewable Electricity Generation (REG) revenues and production volumes, indicating stable expectations despite the current quarter's performance.
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