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Sep 30, 2024
Opal Fuels Q3 2024 Earnings Report
Reported strong third quarter results driven by strategic execution and favorable market conditions.
Key Takeaways
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.
Revenue increased by 18% to $84.0 million compared to the same period last year.
Net income was $17.1 million, a significant increase from $0.2 million in the prior year.
Adjusted EBITDA increased to $31.1 million, up from $16.5 million in the same period last year.
RNG sold as transportation fuel increased by 80% to 19.6 million GGEs.
Opal Fuels
Opal Fuels
Opal Fuels Revenue by Segment
Revenue by Segment
RNG Fuel Revenue
CapyFin.comFuel Station Services Revenue
CapyFin.comRenewable Power Revenue
CapyFin.com Forward Guidance
The company is maintaining its current guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income