Opal Fuels reports Q2 EPS (1c), consensus 8c

Reports Q2 revenue $71.0M, consensus $80.95M. “Q2 results were solid and we remain on target to achieve our 2024 financial objectives,” said Adam Comora, Co-CEO. “We achieved Adjusted EBITDA of $18.9M, driven by growing RNG production, supportive RIN prices and improved margins in our Fuel Stations Services segment…We are executing on our growth initiatives and are pleased to announce the addition of the Burlington RNG facility to our in-construction portfolio, bringing the combined number of RNG projects in construction and operation to 16. This is the second project with our joint venture partner South Jersey Industries,” said co-CEO Jonathan Maurer. “OPAL‘s share of Burlington represents an additional 0.46 million MMBtu of annual design capacity bringing our total operating and in-construction RNG portfolio annual design capacity to 10.8 million MMBtu. Burlington and our previously announced Cottonwood project together total 1.1 million MMBtu of new annual RNG production design capacity placed in construction against our 2.0 million MMBtu target for 2024.”