Opal Fuels Inc. ( (OPAL) ) has released its Q3 earnings. Here is a breakdown of the information Opal Fuels Inc. presented to its investors.
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Opal Fuels Inc. is a company that specializes in the capture and conversion of biogas into renewable natural gas (RNG) and renewable power, primarily serving the heavy-duty trucking and industrial sectors. The company operates in the renewable energy industry and is known for its efforts in decarbonizing hard-to-reach sectors.
In its third quarter of 2025, Opal Fuels reported results that aligned with its expectations, highlighting an increase in RNG production by 8% sequentially and 30% year-over-year. Despite a challenging pricing environment for D3 RINs, the company remains confident in meeting its full-year guidance. Notably, the company has successfully launched its Atlantic RNG Project and commenced construction on the CMS RNG Project in North Carolina.
Key financial metrics for the quarter included a revenue of $83.4 million, a slight decrease of 1% from the previous year, and a net income of $11.4 million, down from $17.1 million in the same period last year. The company’s adjusted EBITDA was reported at $19.5 million, reflecting a decrease compared to the previous year. Opal Fuels also completed the sale of $17.3 million in IRA Investment Tax Credits, contributing to its financial strategy.
Operationally, the company produced 1.3 million MMBtu of RNG in the quarter, marking a 30% increase from the prior year. The Fuel Station Services segment also saw growth, with a 1% increase in transportation fuel dispensed. Construction is underway for several projects, including the CMS Concord RNG facility, with expected commercial operations in the coming years.
Looking ahead, Opal Fuels maintains a positive outlook, supported by a favorable policy environment and ongoing strategic growth initiatives. The company is poised to continue its expansion in the renewable energy sector, focusing on increasing its RNG production capacity and enhancing its infrastructure to support the transition to low-carbon transportation solutions.