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Montauk Renewables (MNTK) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 5, 2026 · Montauk Renewables (MNTK) Q2 2026 earnings results →
Q2 2026 Revenue up 20% year over year to $54.0M · 0¢ of every $1 of revenue kept as net profit · operating margin -0.1%
Montauk Renewables made $54.0M in Q2 2026 (+20% Y/Y): Natural Gas Environmental Attributes $44.6M, Natural Gas Commodity $4.8M, Electric Commodity $2.6M. Operating margin -0.1%, net earnings $226K. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 5, 2026.
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What changed this quarter
Revenue was $54.0M in Q2 2026, up 20% year over year and up 16% from the previous quarter. Natural Gas Environmental Attributes was the largest line at 83% of revenue. Natural Gas Environmental Attributes added $17.4M year over year (up 64%), 195% of the total change. Natural Gas Commodity declined 64%.
Operating costs exceeded revenue by $75K, an operating margin of -0.1%. Total costs grew 14% against revenue growth of 20%. The fastest-growing cost line was Other operating costs (+21%). Net earnings were $226K. The effective tax rate was 89.8%. Non-operating items added $2.3M, 103% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $14.6M (up 78% year over year), 6460% of net earnings. Non-cash charges added back $7.9M of depreciation and amortization and $516K of share-based compensation. Working capital and other items added $6.0M. Capital expenditures of $24.7M exceeded it, leaving free cash flow of −$10.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 5, 2026 | $54.0M | +20% | -0.1% | $226K | $14.6M |
| Q1 2026 | 10-Q | May 6, 2026 | $46.4M | +9% | -3.4% | $5K | $15.8M |
| Q4 2025 | 10-K | Mar 11, 2026 | $43.4M | +57% | -3.8% | $2.5M | $337K |
| Q3 2025 | 10-Q | Nov 5, 2025 | $45.3M | -31% | 9.8% | $5.2M | $12.7M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $45.1M | +4% | -5.2% | −$5.5M | $8.2M |
| Q1 2025 | 10-Q | May 8, 2025 | $42.6M | +10% | 1.0% | −$464K | $9.1M |
| Q4 2024 | 10-K | Mar 14, 2025 | $27.7M | -41% | -35.5% | −$8.5M | $724K |
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- WM — 37% of its revenue · Stated in 10-K (sentence) · source
- RSG — 22% of its revenue · Stated in 10-K (sentence) · source
- XOM — 11% of its revenue · Stated in 10-K (sentence) · source
About Montauk Renewables
Montauk Renewables, Inc. (NASDAQ: MNTK) is a renewable energy company specializing in the management, recovery and conversion of biogas into RNG. The Company captures methane, preventing it from being released into the atmosphere, and converts it into either RNG or electrical power for the electrical grid (“Renewable Electricity”). The Company, headquartered in Pittsburgh, Pennsylvania, develops, operates and manages landfill methane-fueled renewable energy projects. The Company has current operations at 13 operating projects and on going development projects located in California, Idaho, Ohio, Oklahoma, Pennsylvania, North Carolina, South Carolina, and Texas. The Company sells RNG and Renewable Electricity, taking advantage of Environmental Attribute premiums available under federal and state policies that incentivize their use.
In its own words, from its 8-K, filed Aug 5, 2026.
Montauk Renewables against its Gas & Other Services Combined peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +20% against the peers' median +4%. Operating margin: -0.1% against the peers' median -0.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MNTK Montauk Renewables | Q2 2026 | $54.0M | +20% | -0.1% |
| SRE Sempra | Q3 2026 | $3.2B | +1% | 35.3% |
| UGI UGI | Q3 FY26 | $1.3B | -4% | -3.3% |
| CLNE Clean Energy Fuels | Q3 2026 | $112M | +6% | 0.9% |
| OPAL Opal Fuels | Q2 2026 | $83.4M | +4% | -3.6% |
Source: Montauk Renewables 10-Q on SEC EDGAR · CIK 1826600 · Gas & Other Services Combined
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History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results