Clean Energy Fuels (NASDAQ:CLNE) Posts Earnings Results, Beats Expectations By $0.01 EPS

Clean Energy Fuels (NASDAQ:CLNE) released its earnings results on Thursday. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01, FiscalAI reports. The firm had revenue of $117.56 million for the quarter, compared to the consensus estimate of $102.62 million. Clean Energy Fuels had a negative return on equity of 13.91% and a negative net margin of 22.68%.The firm’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 EPS.

Here are the key takeaways from Clean Energy Fuels’ conference call:

• Leadership change: Clay Corbus was named CEO after 19 years at the company and will prioritize growth, stronger execution, and using data/software to improve efficiency across operations and RNG development.
• Q1 results: Clean Energy delivered 67 million gallons of RNG, reported $117.6 million in revenue, $16.6 million of Adjusted EBITDA and a GAAP net loss of $12 million, with $126 million of cash on the balance sheet plus $46 million at dairy JV partners and a full-year RNG delivery target of 250M+ gallons.
• RNG production and regulatory progress: The company has 8 operating RNG projects and 3 under construction, saw ramp activity at South Fork and East Valley, and secured a CARB pathway for the Del Rio dairy (~CI -300) that materially increases LCFS credit generation.
• Market dynamics and trucking opportunity: A sharp diesel price spike has strengthened the economics for RNG—especially for Class 8 trucks with the Cummins X15N—but adoption remains slower than expected, so the company plans a targeted approach focusing on fleets where RNG provides the clearest cost and emissions advantages.

Clean Energy Fuels Stock Performance

Shares of NASDAQ:CLNE traded down $0.10 during midday trading on Friday, reaching $2.21. The company’s stock had a trading volume of 2,308,126 shares, compared to its average volume of 1,214,227. The company has a quick ratio of 2.03, a current ratio of 2.32 and a debt-to-equity ratio of 0.41. The stock has a fifty day moving average of $2.32 and a 200 day moving average of $2.35. Clean Energy Fuels has a twelve month low of $1.60 and a twelve month high of $3.11. The firm has a market capitalization of $486.71 million, a PE ratio of -4.80 and a beta of 1.93.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Clean Energy Fuels in a report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $2.48.

Key Clean Energy Fuels News

Here are the key news stories impacting Clean Energy Fuels this week:

• Positive Sentiment: CLNE reported stronger-than-expected first-quarter results, with revenue of $117.6 million and non-GAAP EPS of -$0.01, both beating analyst estimates. Revenue also rose 13.3% year over year, and the company said it sold 67.4 million RNG gallons during the quarter. Article title
• Neutral Sentiment: The company also highlighted a much smaller GAAP loss than a year ago, showing improvement in bottom-line results even though CLNE remains unprofitable. Article title
• Negative Sentiment: Despite the earnings beat, investor sentiment seems focused on the company’s continuing losses and weak profitability metrics, which may be weighing on the share price. Article title
• Negative Sentiment: Clean Energy Fuels’ Q1 transcript and related coverage suggest investors may be cautious about the outlook, indicating the market is looking for clearer signs that revenue growth will translate into sustained profitability. Article title

Institutional Investors Weigh In On Clean Energy Fuels

Several hedge funds have recently added to or reduced their stakes in CLNE. Virtu Financial LLC purchased a new position in shares of Clean Energy Fuels during the 4th quarter valued at about $120,000. Invesco Ltd. grew its holdings in Clean Energy Fuels by 2.5% during the fourth quarter. Invesco Ltd. now owns 434,909 shares of the utilities provider’s stock worth $913,000 after acquiring an additional 10,653 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in Clean Energy Fuels during the fourth quarter valued at approximately $31,000. Empowered Funds LLC raised its position in Clean Energy Fuels by 57.1% during the fourth quarter. Empowered Funds LLC now owns 1,005,637 shares of the utilities provider’s stock valued at $2,112,000 after acquiring an additional 365,647 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Clean Energy Fuels by 22.1% in the fourth quarter. Wellington Management Group LLP now owns 76,641 shares of the utilities provider’s stock valued at $161,000 after acquiring an additional 13,870 shares during the period. 49.94% of the stock is owned by hedge funds and other institutional investors.

Clean Energy Fuels Company Profile

Clean Energy Fuels Corp., founded in 1997 and headquartered in Newport Beach, California, is a leading provider of natural gas and renewable natural gas (RNG) fuel for the transportation sector. The company operates a network of more than 500 fueling stations across the United States and Canada, supplying compressed natural gas (CNG), liquefied natural gas (LNG) and RNG derived from organic waste streams. Clean Energy serves a diverse customer base that includes commercial trucking fleets, public transit agencies, refuse haulers and municipal vehicle operators.

In addition to fuel supply, Clean Energy offers turnkey station design, construction and ongoing maintenance services, as well as fueling hardware and project management.