Opal Fuels Earnings Reports

Opal Fuels reported strong Q3 2024 results with revenue of $84.0 million and net income of $17.1 million. The company successfully brought online three landfill RNG facilities, began construction on three new landfill RNG projects, and grew its downstream business. They are maintaining their current guidance.

Opal Fuels reported revenue of $71.0 million and net income of $1.9 million for the second quarter of 2024. Adjusted EBITDA was $18.9 million, driven by growing RNG production, supportive RIN prices, and improved margins in the Fuel Stations Services segment. The company added the Burlington RNG facility to its in-construction portfolio, bringing the combined number of RNG projects in construction and operation to 16.

Opal Fuels reported a 51% increase in revenue, reaching $65.0 million, and a net income of $0.7 million compared to a net loss of $7.3 million in the same period last year. The company saw a 33% increase in RNG production and a 98% increase in RNG sold as transportation fuel. The Prince William RNG project has recently commenced operations and is expected to contribute meaningfully as it ramps production as we move through the year.

Opal Fuels reported Q4 2023 revenue of $87.0 million and net income of $20.1 million. The company continues to progress on its strategic and operational goals, having more than doubled RNG production and significantly expanded its fueling station network. They exited 2023 with 5.2 million MMBtu of annual design capacity online at eight RNG facilities.

Opal Fuels reported a revenue increase of 7% to $71.1 million, a net income of $0.2 million, and an adjusted EBITDA of $16.5 million. The company's RNG production projects are performing well, and the Emerald RNG project commenced operations, adding approximately 1.3 million MMBtu of annual design capacity. A $500 million credit facility was secured to fund RNG production projects and fueling stations.

Opal Fuels reported a 3% increase in revenue to $55.0 million for Q2 2023. Net income was $114.1 million, a significant improvement from the previous year's net loss. Adjusted EBITDA rose by 92% to $21.4 million, driven by improved performance in RNG Fuels and Fuel Station Services.

Opal Fuels reported a 12% decrease in revenue compared to the same period last year, primarily due to the decision to defer RIN sales. Net loss increased, while Adjusted EBITDA saw a significant increase due to higher RNG production.