Clean Energy Fuels (NASDAQ:CLNE) Releases Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• Clean Energy Fuels beat quarterly estimates: EPS was $0.03 versus the expected loss of $0.02, and revenue of $112.18 million exceeded the $105.38 million consensus.
• Third-quarter Adjusted EBITDA increased to $27.2 million from $17.3 million a year earlier, while the net loss narrowed to $5.7 million. The company raised its 2026 Adjusted EBITDA guidance by $5 million to $75 million–$80 million, citing stronger value from the updated 45Z model.
• Fuel volumes rose 9% year over year, with management noting renewed fleet interest in RNG trucks and new fueling agreements. Shares nevertheless fell 3.8% on Thursday.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) issued its earnings results on Thursday. The utilities provider reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.05, FiscalAI reports. Clean Energy Fuels had a negative return on equity of 16.52% and a negative net margin of 21.27%. The company had revenue of $112.18 million for the quarter, compared to analysts' expectations of $105.38 million.

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

• Clean Energy raised its 2026 Adjusted EBITDA guidance by $5 million to $75 million–$80 million, citing stronger-than-expected value from the updated 45Z model. The quarter included an $8.3 million catch-up for first-half production, so some of the benefit reflects a timing adjustment.
• Third-quarter Adjusted EBITDA rose to $27.2 million from $17.3 million a year earlier, while the GAAP net loss narrowed to $5.7 million from $23.8 million. Management attributed the improvement largely to 45Z credits and higher RIN and LCFS revenues.
• Fuel volumes distributed increased 9% year over year, and management reported renewed fleet interest in RNG trucks as diesel prices remain high and the Cummins X15N’s performance improves. The company signed a multi-station private-fueling contract and a fuel agreement with Penske, while cautioning that adoption and station construction take time.
• The company ended September with $140 million in cash and investments after repaying $15 million of term debt, partly funded by tax-credit sales. It also expects to sell ITCs from four additional projects in 2027 and 2028, but did not disclose their expected value.
• Management said organizational and market-optimization work could result in one-time charges in the fourth quarter, though the amount and details are not yet final. It plans to provide more information with its 2027 outlook in February.

Clean Energy Fuels Stock Down 3.8%

Shares of CLNE stock traded down $0.06 on Thursday, hitting $1.51. The stock had a trading volume of 1,776,997 shares, compared to its average volume of 1,843,843. The business has a 50 day moving average of $1.56 and a 200 day moving average of $2.00. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.15 and a current ratio of 2.48. Clean Energy Fuels has a 12-month low of $1.32 and a 12-month high of $2.84.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CLNE. Raymond James Financial reissued a "strong-buy" rating and set a $2.50 price objective on shares of Clean Energy Fuels in a report on Tuesday, August 18th. UBS Group lowered Clean Energy Fuels from a "buy" rating to a "hold" rating and set a $2.75 target price on the stock. in a report on Friday, July 17th. Weiss Ratings upgraded Clean Energy Fuels from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, October 28th. Finally, Jefferies Financial Group raised Clean Energy Fuels to a "hold" rating in a research report on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Clean Energy Fuels presently has an average rating of "Hold" and a consensus target price of $2.38.

About Clean Energy Fuels

Clean Energy Fuels Corp. NASDAQ: CLNE provides fueling solutions for medium- and heavy-duty vehicle fleets in North America. The company develops, owns and operates natural gas fueling stations and supplies transportation fuel to customers such as refuse and recycling companies, transit agencies, trucking operators, airports and other commercial fleets.

Its offerings include compressed natural gas (CNG), liquefied natural gas (LNG) and renewable natural gas (RNG). Clean Energy also provides station construction, operation and maintenance services, fleet fueling support, and related infrastructure solutions.

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