Montauk Renewables reports Q3 EPS 12c, consensus 9c

Reports Q3 revenue $65.92M, consensus $61.08M. The company said, “Our production was significantly impacted by Hurricane Beryl which caused widespread and multi-day power outages in the Houston, Texas region. We estimate that our 2024 third quarter production was unfavorably impacted by approximately 50 thousand MMBtu. This marks the second consecutive quarter in 2024 that our results were impacted by utility outages driven by major weather events in the Houston, Texas region. We have entered into commitments to transfer a portion of the Renewable Identification Numbers (“RINs”) we expect to generate from 2024 fourth quarter production at an average price of approximately $3.52. Demonstrating our commitment to reduce landfill-based emissions, in October 2024 we were pleased to be selected as the initial pilot of a small-scale demonstration of recovering and converting biogas into green methanol. This project will transform biogas from our waste stream into carbon negative fuel. We do not expect short term financial benefits from this demonstration nor a disruption to our operations.”