Clean Energy Fuels Earnings: Here’s Why the Stock is Up Now
Clean Energy Fuels Corp. (NASDAQ:CLNE) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 1.89%.
Clean Energy Fuels Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.03 in the quarter versus EPS of $-0.16 in the year-earlier quarter.
Revenue: Rose 26.31% to $93 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Clean Energy Fuels Corp. reported adjusted EPS income of $0.03 per share. By that measure, the company beat the mean analyst estimate of $-0.07. It missed the average revenue estimate of $99.14 million.
Quoting Management: Andrew J. Littlefair, Clean Energy’s President and Chief Executive Officer, stated “Significant progress has taken place over the last few months in long-haul trucking’s transition to natural gas. The new 12-liter natural gas engines are being delivered to the truck manufacturers, shippers are requesting that their contract carriers make the switch to natural gas, and some of the biggest companies in America, like UPS, are announcing large orders of new natural gas trucks. With the initial stations of our ‘America’s Natural Gas Highway’ in place, we are now ready to start realizing the benefits of this investment.”
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