Clean Energy Fuels Earnings: Here’s Why Investors are Buying Shares Now
Clean Energy Fuels Corp. (NASDAQ:CLNE) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2.51%.
Clean Energy Fuels Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.13 in the quarter versus EPS of $-0.16 in the year-earlier quarter.
Revenue: Rose 26.15% to $88.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Clean Energy Fuels Corp. reported adjusted EPS loss of $0.13 per share. By that measure, the company beat the mean analyst estimate of $-0.17. It beat the average revenue estimate of $87.23 million.
Quoting Management: Andrew J. Littlefair, Clean Energy’s President and Chief Executive Officer, stated: “I am very encouraged by the significant development that has taken place over the first half of the year in both our core markets as well as in the long-haul trucking market’s transition to natural gas. The 12-liter natural gas engines have been well received by the early adopters and shippers are now starting to request that their contract carriers make the switch to natural gas. Clean Energy’s investment in ‘America’s Natural Gas Highway’ has laid the foundation to enable this transition to natural gas fueled trucking throughout the country.”
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