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Montauk Renewables Inc. (MNTK-0.96%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total operating revenues of $175.7 million for 2024, a slight increase from $174.9 million in 2023. The company's net income for 2024 was $9.7 million, down from $14.9 million in 2023.
Montauk Renewables operates in two segments: Renewable Natural Gas (RNG) and Renewable Electricity Generation. The RNG segment generated $158.0 million in revenue, while the Renewable Electricity Generation segment contributed $17.8 million.
The company produced 5,587 MMBtu of RNG in 2024, a 1.6% increase from 2023. Renewable Electricity production was 186 MWh, a 4.1% decrease from the previous year.
Operating expenses totaled $159.6 million, up from $151.3 million in 2023. This increase was driven by higher operating and maintenance expenses, which rose to $66.7 million.
Montauk Renewables reported a decrease in royalties, transportation, gathering, and production fuel expenses, which fell to $31.5 million from $34.9 million in 2023.
The company continues to focus on expanding its RNG production capacity, with ongoing development projects including the second Apex RNG facility and the Bowerman RNG facility.
Montauk Renewables also announced a collaboration with Emvolon to convert biogas into green methanol, with a pilot project at the Atascocita facility in Texas.
The company has a revolving credit facility of $120 million, with $56 million outstanding under a term loan as of December 31, 2024.
Montauk Renewables' management identified no material weaknesses in internal control over financial reporting as of the end of 2024.
The company is subject to various environmental regulations and continues to monitor regulatory trends that could impact its operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Montauk Renewables Inc. annual 10-K report dated March 14, 2025. To report an error, please email earnings@qz.com.