Opal Fuels Inc. ( (OPAL) ) has released its Q4 earnings. Here is a breakdown of the information Opal Fuels Inc. presented to its investors.
Opal Fuels Inc., a vertically integrated company, specializes in converting biogas into renewable natural gas (RNG) and renewable electricity, primarily serving the biofuels market. In its latest earnings report, Opal Fuels highlighted a year of solid growth, driven by the expansion of its RNG projects and fuel station services segment. The company reported a revenue of $300 million for the full year 2024, marking a 17% increase from the previous year, despite a slight decline in the fourth quarter revenue. Opal Fuels achieved a net income of $14.3 million for 2024, although this was a decrease from the previous year’s figures, which included a significant non-cash gain. The company’s adjusted EBITDA also saw a substantial increase, reaching $90 million, up from $52 million in the prior year. Operationally, Opal Fuels brought three new landfill RNG projects online, increasing its total annual design capacity to 11.4 million MMBtu. The company also saw significant growth in its Fuel Station Services segment, with a notable increase in RNG dispensed as transportation fuel. Looking ahead, Opal Fuels remains optimistic about its growth prospects for 2025, with plans to expand its RNG facility footprint and fuel station services. The management is focused on disciplined execution to drive shareholder value, despite challenging market conditions.