OPAL Fuels (NASDAQ:OPAL) Issues Earnings Results

OPAL Fuels (NASDAQ:OPAL) announced its quarterly earnings results on Monday. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.16), Zacks reports. OPAL Fuels had a negative return on equity of 60.80% and a net margin of 1.33%.The business had revenue of $73.38 million for the quarter, compared to the consensus estimate of $93.87 million.

Here are the key takeaways from OPAL Fuels’ conference call:

• Operations improved with RNG production up 9% year‑over‑year to 1.2 million MMBtu and management expects accelerating production growth starting in Q2 plus >2 million MMBtu of new design capacity coming online over the next year.
• Adjusted EBITDA fell to $16.7 million from $20.1 million a year ago, chiefly due to lower realized RIN prices which reduced Q1 EBITDA by roughly $4 million and pressured revenue versus 2025.
• Balance sheet and financing strengthened: the company completed ~$288 million of financings (including a $180 million preferred facility), drew its term loan, and exited the quarter with approximately $233 million of liquidity
• Commercial outlook is improving as fleets show momentum toward CNG/RNG deployments—citing diesel price volatility, regulatory clarity, and successful Cummins X15N tests—with initial deployments expected to begin contributing in 2027 (not materially in 2026).
• The company reiterated full‑year 2026 guidance but warned of near‑term lumpiness from weather, construction timing, and one‑off contracts, and noted its forward‑looking optimism reflects management’s perspective rather than guaranteed outcomes.

OPAL Fuels Price Performance

OPAL stock remained flat at $2.08 during trading on Wednesday. 360,897 shares of the company traded hands, compared to its average volume of 216,450. The company has a debt-to-equity ratio of 32.18, a quick ratio of 1.07 and a current ratio of 1.18. The company has a 50 day simple moving average of $2.30 and a 200-day simple moving average of $2.34. OPAL Fuels has a 1 year low of $1.65 and a 1 year high of $4.08. The company has a market cap of $360.67 million, a PE ratio of 29.79 and a beta of 0.76.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Invesco Ltd. raised its position in OPAL Fuels by 77.2% in the 4th quarter. Invesco Ltd. now owns 5,206,386 shares of the company’s stock worth $12,261,000 after purchasing an additional 2,268,741 shares during the last quarter. Vanguard Group Inc. grew its holdings in OPAL Fuels by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,158,519 shares of the company’s stock worth $2,549,000 after acquiring an additional 11,488 shares during the period. Yaupon Capital Management LP grew its holdings in OPAL Fuels by 3.4% during the 4th quarter. Yaupon Capital Management LP now owns 767,234 shares of the company’s stock worth $1,807,000 after acquiring an additional 25,459 shares during the period. Geode Capital Management LLC grew its holdings in OPAL Fuels by 91.5% during the 2nd quarter. Geode Capital Management LLC now owns 509,294 shares of the company’s stock worth $1,233,000 after acquiring an additional 243,399 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in OPAL Fuels by 15.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 315,360 shares of the company’s stock worth $743,000 after acquiring an additional 41,056 shares during the period. Institutional investors own 12.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on OPAL shares. Weiss Ratings upgraded shares of OPAL Fuels from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. Wall Street Zen upgraded shares of OPAL Fuels from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. The Goldman Sachs Group lifted their target price on shares of OPAL Fuels from $2.10 to $2.40 and gave the company a “sell” rating in a research note on Tuesday, March 17th. Finally, Zacks Research upgraded shares of OPAL Fuels from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, OPAL Fuels currently has an average rating of “Reduce” and a consensus price target of $2.72.

OPAL Fuels Company Profile

OPAL Fuels (NASDAQ: OPAL) is a publicly traded company headquartered in San Diego, California, specializing in the production, distribution and dispensing of renewable natural gas (RNG) for heavy-duty transportation. The company operates a network of RNG fueling stations across California, offering fleets of trucks, transit buses and logistics providers a low-carbon alternative to conventional diesel without requiring significant changes to existing vehicle technology or fueling infrastructure.

OPAL Fuels sources organic byproducts from dairy farms, landfills and food-processing facilities, converting methane-rich biogas into pipeline-quality RNG through a series of anaerobic digestion and gas-upgrading processes.

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