Filing Analysis
OPAL Fuels Inc. filed an 8-K to furnish its quarterly earnings press release for the period ended June 30, 2026. The filing includes a discussion of non-GAAP financial measures, specifically Adjusted EBITDA.
📋 Key Facts
- Report date: August 10, 2026
- Reporting period: Quarter ended June 30, 2026
- The company is an emerging growth company.
- Management utilizes 'Adjusted EBITDA' as a key non-GAAP financial measure to supplement GAAP results.
OPAL Fuels Inc. announced the upcoming release of its second quarter 2026 earnings results and a scheduled conference call for August 10, 2026.
📋 Key Facts
- Q2 2026 earnings results to be released before market open on Monday, August 10, 2026.
- Conference call is scheduled for Monday, August 10, 2026, at 11:00 a.m. Eastern Time.
- The disclosure was made under Item 7.01 (Regulation FD Disclosure) and is considered 'furnished' rather than 'filed'.
OPAL Fuels Inc. filed an 8-K to furnish its quarterly earnings press release for the period ended September 30, 2025. The filing includes a discussion of non-GAAP financial measures, specifically Adjusted EBITDA.
🚩 Red Flags
- None identified in this specific filing text (standard earnings release).
📋 Key Facts
- Reported date of event: November 6, 2025
- Reporting period: Quarter ended September 30, 2025
- The company utilizes 'Adjusted EBITDA' as a key non-GAAP financial measure.
- Adjusted EBITDA adjustments include interest/financing expense, depreciation, amortization, accretion, equity method investment adjustments, fair value changes, stock-based compensation, and ITC proceeds.
OPAL Fuels Inc. announced the appointment of Scott M. Sutton to its Board of Directors and Compensation Committee, effective November 1, 2025. Mr. Sutton is a highly experienced chemical industry executive with former CEO roles at Olin Corporation and Prince International Corporation.
📋 Key Facts
- Scott M. Sutton appointed to the Board and Compensation Committee effective Nov 1, 2025.
- Mr. Sutton has over 30 years of leadership in the chemicals industry, including former CEO roles at Olin Corp and Prince International Corp.
- Compensation includes a $56,250 award in restricted stock units (RSUs) based on the closing price on Nov 1, 2025.
- The RSU award is subject to cliff vesting on November 1, 2026.
OPAL Fuels Inc. announced the upcoming release of its earnings results for the three and nine months ended September 30, 2025. The company plans to host a conference call on November 7, 2025, to discuss the results.
📋 Key Facts
- Earnings release scheduled for after market close on Thursday, November 6, 2025.
- Conference call scheduled for Friday, November 7, 2025, at 11:00 a.m. Eastern Time.
- The report covers the three and nine months ended September 30, 2025.
OPAL Fuels Inc. announced the appointment of Lance Moll to its Board of Directors, effective October 1, 2025. Mr. Moll is a veteran executive with extensive experience at FedEx Corporation.
📋 Key Facts
- Lance Moll appointed to the Board effective October 1, 2025.
- Mr. Moll previously served as President and CEO of FedEx Freight.
- Compensation includes $67,500 in restricted stock units (RSUs) based on the closing price on October 1, 2025.
- The RSUs are subject to a cliff vest on October 1, 2026.
- No related party transactions were disclosed regarding this appointment.
OPAL Fuels Inc. filed an 8-K to furnish its quarterly earnings press release for the period ended June 30, 2025. The filing includes a discussion of non-GAAP financial measures, specifically Adjusted EBITDA.
📋 Key Facts
- Report date: August 7, 2025
- Reporting period: Quarter ended June 30, 2025
- The company is an emerging growth company.
- Management utilizes 'Adjusted EBITDA' as a key non-GAAP financial measure to assess operating performance.
OPAL Fuels Inc. reported the results of its 2025 Annual Meeting of Stockholders held on June 18, 2025. The meeting resulted in the successful election of six directors and the ratification of BDO USA, P.C. as the independent auditor.
📋 Key Facts
- Annual Meeting held on June 18, 2025.
- Quorum was established with 251,104,008 votes represented (out of 264,830,996 total available).
- Six directors were elected: Mark Comora, Betsy L. Battle, Scott Dols, James Martell, Nadeem Nisar, and Ashok Vemuri.
- Proposal 2 was passed to ratify BDO USA, P.C. as the independent registered public accounting firm for the fiscal year ending December 31, 2025.
OPAL Fuels Inc. filed an 8-K to furnish its quarterly earnings press release for the three months ended March 31, 2025. The filing includes a discussion of non-GAAP financial measures, specifically Adjusted EBITDA.
📋 Key Facts
- Report date: May 8, 2025
- Reporting period: Three months ended March 31, 2025
- The company is an emerging growth company.
- Management utilizes 'Adjusted EBITDA' as a key non-GAAP financial measure to supplement GAAP results.
OPAL Fuels Inc. announced that Kevin Fogarty will not stand for re-election to the Board of Directors at the upcoming 2025 Annual Meeting of Stockholders. He will remain on the Board until the meeting date.
📋 Key Facts
- Kevin Fogarty will not seek re-election at the 2025 Annual Meeting of Stockholders.
- Fogarty's departure is not due to any disagreement with the Company regarding operations, policies, or practices.
- He will continue his service on the Board until the date of the Annual Meeting.
OPAL Fuels Inc. has announced its upcoming earnings release for the first quarter ended March 31, 2025. The results are scheduled to be released after market close on May 8, 2025.
📋 Key Facts
- Earnings results for the three months ended March 31, 2025, will be reported after market close on Thursday, May 8, 2025.
- A conference call to discuss results is scheduled for Friday, May 9, 2025, at 11:00 a.m. ET.
- The announcement was made via press release under Item 7.01 (Regulation FD Disclosure).
OPAL Fuels Inc. announced a restructuring of the voting rights held by its ultimate controlling shareholder, Fortistar LLC. The transaction involves exchanging 50 million shares of high-vote Class D common stock for an equal number of newly issued Class B common stock.
🚩 Red Flags
- Reduction in voting power for the controlling shareholder (though this is often a precursor to public market liquidity or governance normalization).
📋 Key Facts
- Date of event: April 22, 2025
- Controlling shareholder Fortistar LLC (via OPAL Holdco LLC) exchanged 50 million shares of Class D common stock for 50 million shares of newly issued Class B common stock.
- Class D shares were entitled to five votes per share; Class B shares are entitled to one vote per share.
- The transaction has no effect on the economic interest held by Fortistar LLC.
OPAL Fuels Inc. entered into a Tax Credit Purchase Agreement (TCPA) through its subsidiary, OPAL Paragon LLC, to sell $9.8 million in tax credits for a net price of $8.0 million. The agreement includes a guaranty from the parent company covering potential recaptures or disallowance of the credits.
🚩 Red Flags
- Contingent Liability: If tax credits are disallowed or recaptured, the Company is required to return the purchase price and pay associated taxes, interest, or penalties.
- Guaranty Exposure: The parent company has explicitly guaranteed the subsidiary's obligations regarding the credit sustainability.
📋 Key Facts
- Date of Agreement: March 28, 2025
- Seller: Paragon RNG LLC (OPAL owns 50% via OPAL Paragon LLC)
- Buyer: Apollo Management Holdings, L.P.
- Tax Credits Transferred: $9.8 million
- Purchase Price: $8.0 million (net of fees and expenses)
- Guaranty: The Company (OPAL Fuels Inc.) has provided a guaranty for the obligations under the TCPA.
OPAL Fuels Inc. filed an 8-K to furnish its quarterly earnings press release for the three and twelve months ended December 31, 2024. The filing includes a discussion of non-GAAP financial measures, specifically Adjusted EBITDA.
📋 Key Facts
- Report date: March 13, 2025
- Reporting period: Three and twelve months ended December 31, 2024
- The company uses 'Adjusted EBITDA' as a key non-GAAP financial measure.
- Adjusted EBITDA adjustments include interest/financing expense, depreciation, amortization, accretion, and various one-time or non-cash items related to RNG development and virtual pipeline costs.
OPAL Fuels Inc. entered into an amendment to its existing Credit and Guarantee Agreement on March 3, 2025. The amendment modifies financial covenants, eases conditions for new project eligibility, and extends term loan availability and repayment timelines.
🚩 Red Flags
- Payment of a $1.25 million nonrefundable fee to amend existing debt terms suggests negotiation costs for liquidity management.
📋 Key Facts
- Amendment No. 1 to Credit and Guarantee Agreement entered into on March 3, 2025.
- The Borrower is OPAL Fuels Intermediate HoldCo LLC; Bank of America, N.A. serves as Administrative Agent.
- The amendment includes a one-time nonrefundable fee of $1,250,000 paid to the Administrative Agent.
- Modifications include easing conditions precedent for new Projects to be eligible for borrowing.
- Availability period for delay draw term loans is extended through March 5, 2026; repayment commencement extended to March 31, 2026.
- The amendment permits organizational restructuring of Guarantors to facilitate the sale of federal investment tax credits.
OPAL Fuels Inc. announced the timing for its upcoming earnings release and conference call regarding fiscal year 2024 results.
📋 Key Facts
- Earnings results for the twelve months ended December 31, 2024, will be released after market close on March 13, 2025.
- An earnings conference call is scheduled for Friday, March 14, 2025, at 11:00 AM EDT.
- The announcement was made via a press release issued on February 27, 2025.
OPAL Fuels Inc. announced the appointment of Kazi Hasan as Chief Financial Officer and Principal Financial Officer, effective February 3, 2025. This transition involves the resignation of Interim CFO Scott Contino, who will continue as Principal Accounting Officer until Mr. Hasan assumes that role on March 18, 2025.
🚩 Red Flags
- Transition period for Principal Accounting Officer role (Contino to Hasan) creates a temporary overlap/gap in specific accounting oversight functions.
📋 Key Facts
- Kazi Hasan appointed CFO and Principal Financial Officer effective Feb 3, 2025; to become Principal Accounting Officer on Mar 18, 2025.
- Scott Contino resigns as Interim CFO/PFO but remains Principal Accounting Officer until Mar 18, 2025.
- Hasan's compensation includes a $500,000 base salary and an $150,000 sign-on bonus.
- Initial equity grant for Hasan valued at $1,200,000 (50% RSU, 30% PSRU, 20% stock options).
- Hasan brings extensive utility and energy experience from roles at Fluence Energy, Puget Sound Energy, Cleco, and AES.
OPAL Fuels Inc. filed an 8-K to furnish its quarterly earnings press release for the three months ended September 30, 2024. The filing includes a detailed explanation of how the company calculates its non-GAAP Adjusted EBITDA metric.
🚩 Red Flags
- Heavy reliance on complex non-GAAP Adjusted EBITDA adjustments (e.g., unrealized gain/loss on derivatives, project development costs, and ITC proceeds) which can obscure GAAP profitability.
📋 Key Facts
- Reporting period: Three months ended September 30, 2024.
- Filing date: November 7, 2024.
- The company uses 'Adjusted EBITDA' as a key non-GAAP financial measure.
- Adjusted EBITDA adjustments include interest/financing expense, depreciation, amortization, accretion, and ITC proceeds.
OPAL Fuels Inc. entered into a Tax Credit Purchase Agreement (TCPA) where its subsidiary transferred $11.097 million in tax credits to Apollo Management Holdings, L.P. for a net purchase price of approximately $8.986 million.
🚩 Red Flags
- Contingent liability: The company must return the purchase price plus interest/penalties if tax credits are disallowed or recaptured by the buyer.
📋 Key Facts
- Agreement date: September 13, 2024
- Face value of Tax Credits transferred: $11,096,604
- Net purchase price received: $8,985,585 (after fees and expenses)
- The Company provided a guaranty for the obligations of its subsidiary, OPAL Paragon LLC
- Buyer is Apollo Management Holdings, L.P.
OPAL Fuels Inc. filed an 8-K to furnish its quarterly earnings press release for the three months ended June 30, 2024. The filing includes a discussion of non-GAAP financial measures, specifically Adjusted EBITDA.
🚩 Red Flags
- None identified in this specific filing text.
📋 Key Facts
- Report date: August 7, 2024
- Reporting period: Three months ended June 30, 2024
- The company is reporting under Item 2.02 (Results of Operations and Financial Condition)
- Management utilizes Adjusted EBITDA as a key non-GAAP financial measure to assess operating performance.
- Interim CFO Scott Contino signed the report.
OPAL Fuels Inc. announced the upcoming release of its second quarter 2024 earnings results and a corresponding conference call.
📋 Key Facts
- Earnings for the three months ended June 30, 2024, will be reported after market close on August 7, 2024.
- An earnings conference call is scheduled for Thursday, August 8, 2024, at 11:00 AM EDT.
- The filing was signed by Scott Contino, Interim Chief Financial Officer.
OPAL Fuels Inc. announced the resignation of its Chief Operating Officer, Anthony Falbo, effective August 2, 2024. The company is currently searching for a replacement and will utilize Co-CEOs to manage his responsibilities during the transition.
🚩 Red Flags
- Departure of a key C-suite executive (COO) creates temporary leadership vacuum in operations.
📋 Key Facts
- Anthony Falbo resigned as COO on June 25, 2024.
- Resignation becomes effective August 2, 2024.
- The company has initiated a search for a new COO.
- Co-CEOs will oversee business unit managers to ensure operational continuity during the interim period.
OPAL Fuels Inc. reported the results of its 2024 Annual Meeting of Stockholders held on June 18, 2024. The meeting resulted in the successful election of seven directors and the ratification of BDO USA, P.C. as the company's independent auditor.
📋 Key Facts
- Annual Meeting held on June 18, 2024.
- Quorum was established with 456,673,072 votes represented (out of 464,381,690 total available votes).
- All seven director nominees were elected to hold office until the 2025 Annual Meeting or successors.
- Proposal 2: Ratification of BDO USA, P.C. as independent auditor for fiscal year ending Dec 31, 2024, passed with 456,639,757 votes 'FOR'.
- Total Class D common stock votes (5 votes per share) significantly influence the voting outcome.
OPAL Fuels Inc. filed an 8-K to furnish its quarterly earnings press release for the three months ended March 31, 2024. The filing includes a discussion of non-GAAP financial measures, specifically Adjusted EBITDA.
📋 Key Facts
- Report date: May 9, 2024
- Reporting period: Three months ended March 31, 2024
- The company is an emerging growth company.
- Management utilizes 'Adjusted EBITDA' as a key non-GAAP financial measure to supplement GAAP results.
OPAL Fuels Inc. announced the upcoming release of its quarterly earnings results for the period ending March 31, 2024. The company plans to report after market close on May 9, 2024, followed by a conference call on May 10, 2024.
📋 Key Facts
- Earnings release scheduled for Thursday, May 9, 2024, after market close.
- Earnings conference call scheduled for Friday, May 10, 2024, at 11:00 AM EDT.
- Reporting period covers the three months ended March 31, 2024.
OPAL Fuels Inc. entered into an amendment to its Landfill Gas Purchase and Sale Agreement with Polk County, Florida, and a new Site Lease agreement. The amendment requires the company to construct an additional flare for its renewable natural gas facility at its own expense.
🚩 Red Flags
- The company must bear the full expense of constructing an additional flare.
📋 Key Facts
- Amendment effective as of March 6, 2024, regarding the Landfill Gas Purchase Agreement dated May 2, 2023.
- The Company is responsible for the sole expense of constructing an additional flare for the renewable natural gas facility.
- A Site Lease and access agreement was entered into effective March 20, 2024, providing rights to build/operate the facility on Polk County property.
- The lease includes easements for a pipeline to transport gas to an interstate pipeline offsite.
- Lease terms are set to terminate on April 26, 2042, unless terminated or extended earlier.
- Payments to Polk County for the Site Lease are described as 'de minimis'.
OPAL Fuels Inc. filed an 8-K to furnish its quarterly earnings press release for the three and twelve months ended December 31, 2023. The filing serves as a formal announcement of financial results and includes discussions on non-GAAP measures like Adjusted EBITDA.
🚩 Red Flags
- None identified in this specific filing (standard earnings release).
📋 Key Facts
- Reported financial results for the three and twelve months ended December 31, 2023.
- The company utilizes 'Adjusted EBITDA' as a key non-GAAP financial measure to supplement GAAP results.
- Adjusted EBITDA adjustments include interest/financing expense, loss on debt extinguishment, depreciation, amortization, and unrealized gains/losses on derivatives.
OPAL Fuels Inc. announced amendments to its credit and depositary agreements via its joint venture, Paragon RNG LLC. The amendments involve reclassifying a debt service reserve facility into a $10 million revolving loan facility and extending construction deadlines for the Emerald and Sapphire RNG projects.
🚩 Red Flags
- Increased scrutiny on liquidity via mandatory quarterly principal prepayments totaling significant amounts in 2024.
- Tightening of financial covenants (DSCR requirement for Emerald project).
- Reduction in availability under the Delayed Term Loan Facility (DDTL) from $85.0 million to approximately $81.0 million.
📋 Key Facts
- Paragon RNG LLC (joint venture) entered into First Amendment to Amended and Restated Credit and Guaranty Agreement on March 5, 2024.
- Debt service reserve facility reclassified as a $10.0 million Revolving Loan Facility.
- Construction completion deadline for Emerald and Sapphire projects extended from June 30, 2024, to December 1, 2024.
- New requirement: Maintain a debt service coverage ratio (DSCR) of at least 1.2:1.0 for the Emerald project on a trailing four-quarter basis.
- Mandatory principal prepayments required in 2024: $2.0 million each quarter, with potential additional target aggregate special principal prepayments up to $15.0 million depending on fund availability.
- Amendment fee of $150,000 paid at closing.