Montauk Renewables Announces Third Quarter 2023 Results
PITTSBURGH, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Montauk Renewables, Inc. (“Montauk” or “the Company”) (NASDAQ: MNTK), a renewable energy company specializing in the management, recovery, and conversion of biogas into renewable natural gas (“RNG”), today announced financial results for the third quarter ended September 30, 2023.
- PITTSBURGH, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Montauk Renewables, Inc. (“Montauk” or “the Company”) (NASDAQ: MNTK), a renewable energy company specializing in the management, recovery, and conversion of biogas into renewable natural gas (“RNG”), today announced financial results for the third quarter ended September 30, 2023.
- Total revenues in the third quarter of 2023 were $55.7 million, a decrease of $0.2 million (0.4%) compared to $55.9 million in the third quarter of 2022.
- Additionally, realized RIN prices decreased 12.6% to $3.05 in the third quarter of 2023 compared to $3.49 in the third quarter of 2022.
- Our Bowerman facility produced approximately 3 thousand MWh less in the third quarter of 2023 compared to the third quarter of 2022 due to higher ambient temperatures in the third quarter of 2023.