OPAL Fuels Q2 2026: Adjusted EBITDA Jumps 40% to $23.1M, Guidance Maintained
OPAL sits 30% above its 52-week low of $1.65.
Summary
OPAL Fuels reported Q2 2026 Adjusted EBITDA of $23.1 million, up 40% year-over-year, and maintained full-year guidance. Revenue grew 4% to $83.4 million, while a net loss of $(4.1) million reflected impairment charges.
Key Events · Earnings and Guidance · OPAL
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Adjusted EBITDA Surges 40%
Driven by 45Z production tax credits, Fuel Station Services growth, and G&A savings, Q2 2026 Adjusted EBITDA climbed to $23.1 million from $16.5 million in Q2 2025.
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Revenue Up 4% to $83.4M
Total revenue rose to $83.4 million from $80.5 million a year ago, as a 13% increase in Fuel Station Services revenue to $53.1 million offset a decline in RNG fuel revenue.
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Net Loss Widens on Impairment
A net loss of $(4.1) million, or $(0.05) per share, compared with net income of $7.6 million in Q2 2025, primarily due to a $4.1 million impairment charge and higher interest expense.
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Full-Year Guidance Maintained
Management reaffirmed its 2026 outlook, citing solid Q2 results and ongoing construction of new RNG facilities that will expand production capacity.
Analysis · OPAL · Energy & Transportation
A strong second quarter saw Adjusted EBITDA surge 40% year-over-year to $23.1 million, fueled by 45Z production tax credits, expansion in the Fuel Station Services segment, and cost savings. Revenue edged up 4% to $83.4 million despite a flat RIN price environment. Confidence in the back half is underscored by the company's decision to maintain full-year 2026 guidance. Adding a fresh revenue stream, a $100 million master agreement to monetize 45Z credits was signed. On the other hand, the bottom line swung to a net loss of $(4.1) million from a $7.6 million profit a year ago, partly reflecting a $4.1 million impairment charge. Liquidity remains solid at $162.3 million, supporting ongoing RNG facility construction.
At the time of this filing, OPAL was trading at $2.15 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $407.2M. The 52-week trading range was $1.65 to $2.87. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.