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

Clean Energy Fuels (NASDAQ:CLNE) posted its quarterly earnings results on Thursday. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01, FiscalAI reports. The firm had revenue of $117.56 million during the quarter, compared to analyst estimates of $102.62 million. Clean Energy Fuels had a negative net margin of 22.68% and a negative return on equity of 13.91%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.01 earnings per share.

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 Trading Down 4.3%

Clean Energy Fuels stock traded down $0.10 during mid-day trading on Friday, hitting $2.21. 2,308,126 shares of the company’s stock were exchanged, compared to its average volume of 1,214,227. The company’s 50 day simple moving average is $2.32 and its 200-day simple moving average is $2.35. 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 firm has a market capitalization of $486.71 million, a P/E ratio of -4.80 and a beta of 1.93. Clean Energy Fuels has a fifty-two week low of $1.60 and a fifty-two week high of $3.11.

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

Hedge Funds Weigh In On Clean Energy Fuels

Several institutional investors and hedge funds have recently modified their holdings of CLNE. JPMorgan Chase & Co. raised its holdings in Clean Energy Fuels by 765.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,457,876 shares of the utilities provider’s stock worth $6,341,000 after buying an additional 2,173,771 shares during the period. Millennium Management LLC lifted its position in Clean Energy Fuels by 619.2% in the 4th quarter. Millennium Management LLC now owns 1,307,977 shares of the utilities provider’s stock valued at $2,747,000 after acquiring an additional 1,126,100 shares in the last quarter. Algert Global LLC boosted its stake in Clean Energy Fuels by 1,007.1% in the 3rd quarter. Algert Global LLC now owns 800,849 shares of the utilities provider’s stock worth $2,066,000 after purchasing an additional 728,509 shares during the period. Manatuck Hill Partners LLC bought a new position in Clean Energy Fuels during the 2nd quarter worth about $878,000. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of Clean Energy Fuels in the 4th quarter valued at about $828,000. 49.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

About Clean Energy Fuels

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.