OPAL Fuels (NASDAQ:OPAL) Announces Quarterly Earnings Results

Posted by on May 12th, 2026

OPAL Fuels (NASDAQ:OPAL – Get Free Report) released its earnings results on Monday. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.16), Zacks reports. OPAL Fuels had a net margin of 1.98% and a return on equity of 77.65%. The business had revenue of $73.38 million for the quarter, compared to analysts’ expectations 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 Trading Down 3.5%

Shares of OPAL Fuels stock opened at $2.19 on Tuesday. The firm has a market capitalization of $379.75 million, a PE ratio of 14.60 and a beta of 0.76. The company has a debt-to-equity ratio of 32.18, a current ratio of 1.18 and a quick ratio of 1.07. The company’s fifty day moving average price is $2.30 and its two-hundred day moving average price is $2.35. OPAL Fuels has a 52-week low of $1.65 and a 52-week high of $4.08.

Analysts Set New Price Targets

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

View Our Latest Report on OPAL Fuels

Institutional Investors Weigh In On OPAL Fuels

Several institutional investors and hedge funds have recently bought and sold shares of OPAL. Invesco Ltd. raised its stake in OPAL Fuels by 77.2% during the fourth quarter. Invesco Ltd. now owns 5,206,386 shares of the company’s stock worth $12,261,000 after acquiring an additional 2,268,741 shares in the last quarter. Vanguard Group Inc. raised its stake in OPAL Fuels by 1.0% during the third 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 in the last quarter. Yaupon Capital Management LP raised its stake in OPAL Fuels by 3.4% during the fourth 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 in the last quarter. Geode Capital Management LLC raised its stake in OPAL Fuels by 91.5% during the second 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 in the last quarter. Finally, Goldman Sachs Group Inc. lifted 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 valued at $743,000 after purchasing an additional 41,056 shares during the last quarter. Institutional investors own 12.16% of the company’s stock.

About OPAL Fuels

(Get Free Report)

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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Earnings History for OPAL Fuels (NASDAQ:OPAL)

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