Clean Energy Fuels Corp. (CLNE) Q3 2024 Earnings Call Transcript
Adjusted EBITDA $21.3 million for Q3 2024, up from $14.2 million in Q3 2023, reflecting strong performance in the underlying fuel business.
Revenue $105 million for Q3 2024, compared to $96 million in Q3 2023, driven by a higher mix of station fueling gallons, higher RIN credits, and increased service revenues.
RNG Volumes 60 million gallons sold in Q3 2024, compared to 56.7 million gallons in Q3 2023, a growth of 5.1%, with last year's figures including one-off deliveries.
Cash and Investments $243.5 million at the end of Q3 2024, reflecting a solid financial position despite a $30 million capital call in October.
Cash Flow from Operations $21.4 million for Q3 2024, up from $7.7 million in Q3 2023, indicating improved operational efficiency.
Average RIN Credit Price $3.35 in Q3 2024, up from $3.01 in Q3 2023, contributing to higher revenue from RIN credits.
Average LCFS Credit Price $55.67 in Q3 2024, down from $74.20 in Q3 2023, impacting overall revenue negatively.
Net GAAP Loss Lower net GAAP loss in Q3 2024 compared to previous quarters, attributed to improved RNG production and credit monetization.
RNG Production 2.8 million gallons annualized run rate in Q3 2024, with expectations to ramp up to 4-6 million gallons in 2025.
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Clean Energy Fuels Finishes Construction of Renewable Natural Gas Plant in Texas
- Company Announcement: Clean Energy Fuels (CLNE) has begun injecting renewable natural gas from its new facility.
- Focus on Sustainability: This initiative highlights the company's commitment to sustainable energy solutions.
Daily Upgrade Report for Validea Kenneth Fisher Strategy - November 26, 2025
Grocery Outlet Holding Corp (GO): The stock rating increased from 40% to 70% based on its fundamentals and valuation, indicating growing interest according to Kenneth Fisher's investment strategy focused on low P/S ratios and strong profit growth.
Mayville Engineering Company Inc (MEC): Similar to Grocery Outlet, MEC's rating improved from 50% to 70%, reflecting positive changes in its underlying fundamentals and stock valuation within the Auto & Truck Parts industry.
Clean Energy Fuels Corp (CLNE): The rating for CLNE rose from 40% to 60%, suggesting a moderate level of interest based on its fundamentals and valuation in the Oil & Gas Operations sector.
About Kenneth Fisher and Validea: Kenneth Fisher, a prominent money manager and author, emphasizes the price/sales ratio for stock selection. Validea provides investment research based on strategies from renowned investors, aiming to identify stocks that outperform the market.
Clean Energy to Strengthen Partnership with Gold Coast Transit by Building Its First Hydrogen Station
Contract Award: Clean Energy Fuels Corp. has been awarded a contract to design and build a hydrogen fueling station for Gold Coast Transit District (GCTD) in Ventura County, CA, which will initially support five fuel cell buses and aims to transition a fleet of 70 vehicles to zero emissions by 2040.
Funding and Support: GCTD received $12.1 million from the U.S. Department of Transportation's Federal Transit Administration to construct the hydrogen station and purchase hydrogen fuel cell electric buses, reinforcing their commitment to clean transportation.
Completion Timeline: The new hydrogen station is expected to be completed by 2027 and will be located at GCTD's Oxnard facility, enhancing the region's public transportation options.
Clean Energy's Mission: Clean Energy Fuels Corp. focuses on decarbonizing transportation through renewable natural gas (RNG) and operates a network of fueling stations across the U.S. and Canada, supporting various vehicles in reducing greenhouse gas emissions.
Clean Energy Fuels (CLNE) Achieves Break-Even Earnings in Q3
Earnings Performance: Clean Energy Fuels (CLNE) reported break-even earnings per share, surpassing the Zacks Consensus Estimate of a loss of $0.04, marking a 100% earnings surprise. The company has consistently exceeded EPS estimates over the last four quarters.
Revenue Growth: The company generated revenues of $106.14 million for the quarter, exceeding the Zacks Consensus Estimate by 5.77% and showing a year-over-year increase from $104.88 million.
Stock Outlook: Clean Energy Fuels shares have increased by 15.1% since the start of the year, although they have underperformed compared to the S&P 500's 16.5% gain. The stock currently holds a Zacks Rank #3 (Hold), indicating expected performance in line with the market.
Industry Context: The Utility - Gas Distribution industry, to which Clean Energy Fuels belongs, is ranked in the top 23% of Zacks industries, suggesting a favorable outlook. Another industry player, Northwest Natural, is expected to report a quarterly loss, highlighting varying performance within the sector.
Clean Energy Fuels (CLNE) Rises 11.5% Following Announcements of Hydrogen and RNG Expansion
Expansion of Hydrogen and RNG Infrastructure: Clean Energy Fuels Corp. is building a second hydrogen fueling station and starting construction on three renewable natural gas (RNG) production plants, aiming to produce 3 million gallons of RNG annually by 2026, supported by federal grants.
Investment Risks and Growth Outlook: While the expansion has positive strategic implications, investors should be cautious of execution risks related to project delays and underperformance, which could impact margins and cash flow, despite a projected revenue increase to $474.7 million by 2028.
Clean Energy Fuels to Construct Second Hydrogen Station for Foothill Transit
Contract Award: Clean Energy Fuels has been awarded an $11.3 million contract to design, build, and maintain a second hydrogen fueling station for Foothill Transit in California, supporting their fleet of 357 buses.
Project Details: The new station will be located at the Arcadia bus yard, support 19 new hydrogen fuel cell buses, and is set to begin construction in mid-2026, continuing a 20-year partnership with Foothill Transit.
Clean Energy Fuels Finishes Construction of Renewable Natural Gas Plant in Texas
- Company Announcement: Clean Energy Fuels (CLNE) has begun injecting renewable natural gas from its new facility.
- Focus on Sustainability: This initiative highlights the company's commitment to sustainable energy solutions.
Daily Upgrade Report for Validea Kenneth Fisher Strategy - November 26, 2025
Grocery Outlet Holding Corp (GO): The stock rating increased from 40% to 70% based on its fundamentals and valuation, indicating growing interest according to Kenneth Fisher's investment strategy focused on low P/S ratios and strong profit growth.
Mayville Engineering Company Inc (MEC): Similar to Grocery Outlet, MEC's rating improved from 50% to 70%, reflecting positive changes in its underlying fundamentals and stock valuation within the Auto & Truck Parts industry.
Clean Energy Fuels Corp (CLNE): The rating for CLNE rose from 40% to 60%, suggesting a moderate level of interest based on its fundamentals and valuation in the Oil & Gas Operations sector.
About Kenneth Fisher and Validea: Kenneth Fisher, a prominent money manager and author, emphasizes the price/sales ratio for stock selection. Validea provides investment research based on strategies from renowned investors, aiming to identify stocks that outperform the market.
Clean Energy to Strengthen Partnership with Gold Coast Transit by Building Its First Hydrogen Station
Contract Award: Clean Energy Fuels Corp. has been awarded a contract to design and build a hydrogen fueling station for Gold Coast Transit District (GCTD) in Ventura County, CA, which will initially support five fuel cell buses and aims to transition a fleet of 70 vehicles to zero emissions by 2040.
Funding and Support: GCTD received $12.1 million from the U.S. Department of Transportation's Federal Transit Administration to construct the hydrogen station and purchase hydrogen fuel cell electric buses, reinforcing their commitment to clean transportation.
Completion Timeline: The new hydrogen station is expected to be completed by 2027 and will be located at GCTD's Oxnard facility, enhancing the region's public transportation options.
Clean Energy's Mission: Clean Energy Fuels Corp. focuses on decarbonizing transportation through renewable natural gas (RNG) and operates a network of fueling stations across the U.S. and Canada, supporting various vehicles in reducing greenhouse gas emissions.
Clean Energy Fuels (CLNE) Achieves Break-Even Earnings in Q3
Earnings Performance: Clean Energy Fuels (CLNE) reported break-even earnings per share, surpassing the Zacks Consensus Estimate of a loss of $0.04, marking a 100% earnings surprise. The company has consistently exceeded EPS estimates over the last four quarters.
Revenue Growth: The company generated revenues of $106.14 million for the quarter, exceeding the Zacks Consensus Estimate by 5.77% and showing a year-over-year increase from $104.88 million.
Stock Outlook: Clean Energy Fuels shares have increased by 15.1% since the start of the year, although they have underperformed compared to the S&P 500's 16.5% gain. The stock currently holds a Zacks Rank #3 (Hold), indicating expected performance in line with the market.
Industry Context: The Utility - Gas Distribution industry, to which Clean Energy Fuels belongs, is ranked in the top 23% of Zacks industries, suggesting a favorable outlook. Another industry player, Northwest Natural, is expected to report a quarterly loss, highlighting varying performance within the sector.
Clean Energy Fuels (CLNE) Rises 11.5% Following Announcements of Hydrogen and RNG Expansion
Expansion of Hydrogen and RNG Infrastructure: Clean Energy Fuels Corp. is building a second hydrogen fueling station and starting construction on three renewable natural gas (RNG) production plants, aiming to produce 3 million gallons of RNG annually by 2026, supported by federal grants.
Investment Risks and Growth Outlook: While the expansion has positive strategic implications, investors should be cautious of execution risks related to project delays and underperformance, which could impact margins and cash flow, despite a projected revenue increase to $474.7 million by 2028.
Clean Energy Fuels to Construct Second Hydrogen Station for Foothill Transit
Contract Award: Clean Energy Fuels has been awarded an $11.3 million contract to design, build, and maintain a second hydrogen fueling station for Foothill Transit in California, supporting their fleet of 357 buses.
Project Details: The new station will be located at the Arcadia bus yard, support 19 new hydrogen fuel cell buses, and is set to begin construction in mid-2026, continuing a 20-year partnership with Foothill Transit.
