OPAL Fuels Inc. Class A Common Stock Q2 2026 Earnings Recap

OPAL Fuels’ stock climbed 5.4% after reporting second quarter results driven by better-than-expected EBITDA growth supported by production tax credits, solid performance in Fuel Station Services, and operating cost savings.

Key Takeaways

• Adjusted EBITDA rose 40% year-over-year to $23.1 million, benefiting from a $45 production tax credit and cost efficiencies in G&A.
• RNG production increased 8% year-over-year to 1.3 million MMBtu, though slightly below internal expectations.
• Management emphasized capital-light improvements to existing facilities as a key lever for incremental volume and EBITDA growth.
• The company maintains full-year guidance and outlined growth prospects from projects under construction adding 3 million MMBtu annual capacity within two years.
• Upstream growth is coupled with downstream demand, leveraging natural gas cost advantages and expanding fuel switching economics in targeted sectors.