--- title: "Montauk Renewables | 10-Q: FY2026 Q1 Revenue: USD 46.43 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285439267.md" datetime: "2026-05-06T21:00:20.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285439267.md) - [en](https://longbridge.com/en/news/285439267.md) - [zh-HK](https://longbridge.com/zh-HK/news/285439267.md) --- # Montauk Renewables | 10-Q: FY2026 Q1 Revenue: USD 46.43 M Revenue: As of FY2026 Q1, the actual value is USD 46.43 M. EPS: As of FY2026 Q1, the actual value is USD 0. EBIT: As of FY2026 Q1, the actual value is USD -263 K. #### Consolidated Results (Three Months Ended March 31, 2026 vs. 2025) - **Total Operating Revenues**: Increased by 9.0% to $46,428 from $42,603, primarily due to approximately $4,236 in environmental attribute revenues from RINs sold related to the GreenWave joint venture in Q1 2026, which had no RIN distributions in Q1 2025. - **Total Operating Expenses**: Increased by 13.8% to $48,027 from $42,193. - **Operating (Loss) Income**: Swung to an operating loss of - $1,599 from an operating income of $410. - **Net Income (Loss)**: Swung to a net income of $5 from a net loss of - $464. - **Income Tax Benefit**: Was - $298 compared to - $317. - **Adjusted EBITDA**: Increased to $10,790 from $8,788. #### Renewable Natural Gas (RNG) Segment (Three Months Ended March 31, 2026 vs. 2025) - **Segment Revenue**: Decreased slightly by -1.0% to $38,075 from $38,451. - **Operating Segment Income**: Decreased by -15.7% to $8,745 from $10,369. - **Operating Segment Expenses**: Increased to $29,330 from $28,082. - **RNG Production Volumes**: Decreased by -2.5% to 1,354 MMBtu from 1,389 MMBtu. This decrease was due to a 41 MMBtu reduction at Galveston, an 88 MMBtu reduction at McCarty, offset by a 43 MMBtu increase at Atascocita, and a 37 MMBtu increase at Apex. - **RINs Sold**: Increased by 25.5% to 12,403 from 9,885. - **Average Realized RIN Price**: Decreased by -1.6% to $2.42 from $2.46. - **RNG Inventory**: As of March 31, 2026, there were 431 MMBtu available for RIN generation (compared to 336 MMBtu in 2025), 165 RINs generated but unseparated (compared to 1,482 RINs in 2025), and 79 RINs generated and unsold (compared to 3,916 RINs in 2025). - **Capital Expenditures**: Totaled $2,569. #### Renewable Electricity Generation (REG) Segment (Three Months Ended March 31, 2026 vs. 2025) - **Segment Revenue**: Decreased slightly by -0.8% to $4,117 from $4,152. - **Operating Segment Loss**: Increased by 112.6% to - $2,171 from - $1,021. - **Operating Segment Expenses**: Increased to $6,288 from $5,173. - **Electricity Production Volumes**: Decreased by -6.5% to 43 MWh from 46 MWh. This was due to a 2 MWh reduction at Pico and a 1 MWh reduction at Bowerman. - **Average Realized Price $/MWh**: Increased by 6.1% to $95.74 from $90.26. - **Capital Expenditures**: Totaled $28,249. #### Other Key Financials - **Operating Activities Cash Flow**: Net cash provided by operating activities increased to $15,846 from $9,140. - **Investing Activities Cash Flow**: Net cash used in investing activities increased to - $30,834 from - $11,632, primarily due to capital expenditures of $38,644, which includes $33,145 for Montauk Ag Renewables and $1,752 for Bowerman RNG. - **Financing Activities Cash Flow**: Net cash provided by financing activities was $19,478, compared to cash used of - $3,018 in the prior year, primarily due to proceeds from the revolving credit agreement. - **New Senior Credit Facility**: On March 9, 2026, Montauk Renewables, Inc. entered into a new five-year senior credit facility for up to $200,000, with $155,000 outstanding as of March 31, 2026, used to repay all outstanding debt. The facility has a fixed interest rate of 10.25% and matures in March 2031, with covenants commencing June 30, 2026. - **GreenWave Joint Venture Income**: Montauk Renewables, Inc. recorded $3,320 in income from its equity method investment in GreenWave Energy Partners, LLC, and received 1,398 RINs as distributions, with 425 RINs available for sale as of March 31, 2026. #### Outlook and Strategy Montauk Renewables, Inc. is pursuing several capital development projects, including the Bowerman RNG Facility, Atascocita LCO2 Facility, Tulsa RNG Facility, and Rumpke RNG Relocation Project, with anticipated commencement dates from 2027 to 2028 and estimated capital expenditures up to $95,000 for each major project. The Montauk Ag Renewables project is expected to begin production and sale of renewable electricity in May 2026, with an unchanged capital investment expectation of $200,000 for its first phase, aiming to generate significant tax attributes. The company expects 2026 non-development capital expenditures to range between $20,000 and $25,000 and development capital expenditures between $80,000 and $100,000, with financing flexibility provided by the new Senior Credit Facility. ### Related Stocks - [MNTK.US](https://longbridge.com/en/quote/MNTK.US.md) ## Related News & Research - [Insider Move at Montauk Renewables Sparks Fresh Investor Buzz](https://longbridge.com/en/news/286344941.md) - [Advance Auto Parts Reports First Quarter 2026 Results; Reaffirms Full Year 2026 Guidance | AAP Stock News](https://longbridge.com/en/news/287202242.md) - [ONWARD Medical to Announce First Quarter 2026 Results on May 26, 2026 | ONWRY Stock News](https://longbridge.com/en/news/286858298.md) - [The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance | HD Stock News](https://longbridge.com/en/news/286890512.md) - [Correction: NextNRG to Host First Quarter 2026 Financial Results Conference Call on May 18, 2026 at 9:00 a.m. ET | NXXT Stock News](https://longbridge.com/en/news/286673001.md)