Montauk Renewables Inc (MNTK) said after close Thursday that it earned $0.09 per share in quarter three 2023.
On the revenue line, the company reported $55.7 million, missing estimates by $2.2 million.
In the same quarter a year ago, the company earned $0.08 per share on revenue of $55.9 million.
The stock is down 32.13% to $6.95 after the report.
Despite Montauk Renewables Inc reporting a decline in revenues, earnings increased signaling a rise in profit margins.
Wall Street Analysts had an average rating of Hold on the stock prior to the report.
InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.
Montauk Renewables Inc has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 88, putting Montauk Renewables Inc in the top 25% of stocks. The firm set a 52-week low on May 11, 2023 at $5.46 and set a 52-week high on November 25, 2022 at $13.18.
Montauk Renewables Inc is a United States-based renewable energy company. It specializes in the recovery and processing of biogas from landfills and other non-fossil fuel sources for beneficial use as a replacement for fossil fuels. The firm develops, owns, and operates RNG projects that supply renewable fuel into the transportation and electrical power sectors. Montauk operates in two segments: Renewable Natural Gas and Renewable Electricity Generation. It generates a majority of its revenue from the Renewable Natural Gas segment.
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Montauk Renewables Inc Down 32.13% To $6.95 After Earnings Miss
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