OPAL Fuels Reports Q1 2026 Financial Results

WHITE PLAINS, N.Y., USA - OPAL Fuels (Nasdaq: OPAL) announced its financial and operating results for the first quarter ended March 31, 2026. Despite a challenging operating environment during the seasonally soft period, the company remains on track to achieve its full-year guidance, supported by improved production trends and firming environmental credit prices.

The company highlighted continued momentum in the heavy-duty trucking sector for CNG and RNG conversions. Management cited high and volatile diesel pricing, regulatory clarity regarding combustion engines, and the successful testing of the Cummins X15N engine as key factors driving fleet decisions. Furthermore, OPAL Fuels completed several financing transactions, including a new $180 million Preferred Stock Facility, providing clarity for future capital allocation and growth.

Financial Highlights

• Revenue decreased by 14% to $73.4 million compared to $85.4 million in the prior-year quarter.
• Adjusted EBITDA was $16.7 million, down from $20.1 million in Q1 2025.
• Net loss was $(5.6) million, compared to net income of $1.3 million in the same period last year.
• The company completed its fifth sale of IRA Investment Tax Credits for $23 million in the first quarter.

Operational Highlights

• RNG production increased by 9% to 1.2 million MMBtu compared to the prior-year period.
• Total transportation fuel dispensed was 39.0 million GGEs, a 4% decrease year-over-year.
• RNG dispensed as transportation fuel was 17.9 million GGEs.