Financial Data and Key Metrics Changes - The company reported revenue of $104 million for Q1 2025, which is essentially flat compared to the previous year, despite the expiration of the alternative fuel tax credit that contributed $5.4 million to last year's revenue [20][21]. - Adjusted EBITDA for Q1 2025 was $17.1 million, up from $12.8 million in the same quarter last year, driven by strength in the fuel distribution business [23][24]. - The company ended the quarter with $227 million in cash, reflecting a $9 million increase since the beginning of the year [7]. Business Line Data and Key Metrics Changes - Renewable natural gas (RNG) sales volumes were reported at 51 million gallons, lower than Q1 2024 due to reduced supply from third-party producers affected by weather and operational issues [6][7]. - Despite lower RNG sales volumes, the company maintained strong demand from fleet customers in the refuse, transit, and trucking sectors [8][10]. Market Data and Key Metrics Changes - The company noted that tariffs have minimal direct impact on its business, although they create uncertainty for customers in the heavy-duty trucking sector [8][10]. - The market dynamics for RNG are favorable, with a strong demand for low-carbon fuels, particularly in the heavy-duty trucking market [12][30]. Company Strategy and Development Direction - The company is focused on expanding its RNG production and distribution capabilities, with ongoing projects in dairy RNG production expected to come online by the end of the year [17][18]. - The company is maintaining its full-year financial outlook and capital expenditure guidance, indicating confidence in its growth trajectory [10][18]. Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding achieving the 2025 guidance, citing potential impacts from tariffs and economic conditions affecting truck purchases [28][29]. - The company believes RNG is well-positioned as a viable alternative fuel amidst changing regulatory landscapes and customer preferences for low-carbon solutions [30][51]. Other Important Information - The company resumed its share repurchase program in late March, indicating confidence in its stock valuation and financial health [18]. - The expiration of the alternative fuel tax credit and the introduction of the Renewable Natural Gas Incentive Act are significant developments that could impact future financial results [15][16]. Q&A Session Summary Question: What would take you to the lower end and what could take you to the upside regarding the 2025 guidance? - Management indicated that clarity on tariffs and customer purchasing behavior in the trucking sector would influence the outlook, with optimism for increased truck purchases as market conditions stabilize [28]. Question: How do you see pricing shaking out for the remainder of the year? - Management expects steady pricing, supported by a favorable spread between oil and natural gas, despite the absence of the alternative fuel tax credit [32][34]. Question: Can you provide an update on RNG facilities and their timelines? - Management reported that one RNG facility is producing well, while others are progressing but not yet at desired levels, with expectations for improvement by the end of the year [56][58]. Question: What is the status of partnerships with Total, BP, and Chevron? - The company maintains strong relationships with these partners, with ongoing projects and a focus on RNG development [87][89]. Question: What is the outlook for the 45Z tax credit? - Management noted that the impact of the 45Z tax credit is uncertain, but discussions are ongoing, and it could be a significant contributor if finalized favorably [94][98].

Clean Energy Fuels (CLNE) Q1 2025 Earnings Call May 08, 2025 04:30 PM ET Speaker0 Good day, everyone, and welcome to today's Clean Energy Fuels First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. Later, you will have the opportunity to ask questions during the question and answer session. Please note this call may be recorded and I will be standing by should you need any assistance. It is now my pleasure to turn the conference over to Robert F ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-33480 CLEAN ENERGY FUELS CORP. (Exact name of registrant as specified in its charter) Delaware 33-0968580 (Stat ...

Exhibit 99.1 "As the markets continue to evaluate the macro-economic environment and remain volatile, we are fortunate that we have a stable, recurring business with many existing long-term customers like transit agencies and waste companies. We also believe that RNG is the commonsense solution for the heavy-duty trucking market. Thousands of heavy-duty trucks are already fueling in our network of natural gas stations across the US and Canada, proving that fleets can economically achieve significant emissio ...

Clean Energy Fuels Corp. (NASDAQ:CLNE) Q4 2024 Earnings Conference Call February 24, 2025 4:30 PM ET Company Participants Robert Vreeland - CFO Andrew Littlefair - President and CEO Conference Call Participants Saumya Jain - UBS Eric Stine - Craig Hallum Rob Brown - Lake Street Capital Markets Dushyant Ailani - Jefferies Derrick Whitfield - Texas Capital Matthew Blair - TPH Craig Shere - Tuohy Brothers Betty Zhang - Scotiabank Jason Gabelman - TD Cowen Operator Good day, everyone, and welcome to today's Cle ...

LNG Production and Infrastructure - In 2024, the company produced 93% of its LNG at its own plants, with the Boron Plant capable of producing 98.5 million gallons per year and the Pickens Plant producing 36.5 million gallons per year[30][31]. - The company operates a fleet of 74 tanker trailers for LNG delivery to fueling stations, where it is stored and dispensed in liquid form[31]. - The company has constructed over 470 natural gas fueling stations since 2008, serving as a general contractor or supervising third-party contractors[34]. - The company has served as a general contractor for over 460 fueling stations since 2008, showcasing its expertise in the construction of fueling infrastructure[77]. Renewable Natural Gas (RNG) Development - The company generated Environmental Credits from RNG sales, with market prices for RINs fluctuating between $2.08 and $3.57, and LCFS Credits ranging from $40.00 to $78.50 in 2024[32]. - RNG use as a transportation fuel increased by 92% from 2019 levels, displacing 6.96 million metric tons of carbon dioxide equivalent in 2023[43]. - The company has three 100% owned ADG RNG projects under development, expected to produce a total of 3.6 million GGEs of RNG annually, available for sale to the vehicle fuels market[54]. - The TotalEnergies joint venture aims to invest up to $400 million in ADG RNG production facilities, with one project currently operational producing up to 0.8 million GGEs of RNG annually[52]. - The bp joint venture has collectively contributed approximately $455.5 million in equity, with six ADG RNG projects estimated to produce up to 8.2 million GGEs of RNG annually[53]. - The company sources RNG from over 150 supply sources, with 34% from ADG and 66% from LFG in 2024[29]. - RNG volume accounted for 89% of the company's vehicle fuel sales in 2024, with a goal of achieving 100% RNG sales[75]. - The company has over 150 RNG supply sources, providing a competitive advantage in the RNG industry[69]. Financial Performance and Projections - Total revenue for 2023 was $425.2 million, a slight increase from $420.2 million in 2022, while projected revenue for 2024 is $415.9 million, indicating a decrease of approximately 2.5%[223]. - The net loss attributable to Clean Energy Fuels Corp. increased from $58.7 million in 2022 to $99.5 million in 2023, with a projected loss of $83.1 million in 2024[227]. - The company may incur up to approximately $55.0 million in accelerated depreciation expense if agreements for certain fueling stations are not renewed, impacting financial results[143]. - As of December 31, 2024, the company had total consolidated indebtedness of $268.1 million, net of debt discount[158]. - The company entered into a senior secured term loan agreement for $300 million, with an additional $100 million of delayed draw term loans available[158]. Market and Regulatory Environment - The California LCFS program mandates a 20% total reduction in carbon intensity of petroleum-based fuels by 2030[95]. - The Advanced Clean Trucks regulation mandates that by 2045, every new commercial vehicle sold in California must be zero-emission, impacting the company's vehicle fuel solutions[170]. - The Advanced Clean Fleets regulation requires all public transit truck fleets to be zero-emission by 2042, which may limit the market for the company's current fuel offerings[171]. - The company faces competition from various alternative fuel suppliers, including renewable diesel and electric vehicle charging stations[89]. - The company is subject to stringent federal, state, and local regulations that could impact operational costs and compliance[91]. Risks and Challenges - The adoption of RNG and conventional natural gas vehicle fuels has been slower than anticipated, particularly in heavy-duty trucking and other fleet markets[110]. - The company faces risks related to the supply and demand for RNG, including competition from other vehicle fuel providers and potential production difficulties[121]. - Environmental Credit markets have been volatile, affecting revenue generation from RNG sales, with potential adverse impacts from regulatory changes[120]. - The company may encounter challenges integrating operations and realizing synergies from strategic transactions or partnerships[126]. - The bankruptcy of a dairy farm partner could materially impact RNG production and investment in related projects[116]. - Livestock waste and dairy farm projects are heavily dependent on LCFS credits, with potential revenue declines if CARB reduces the CI score, impacting the commercial viability of these projects[128]. Strategic Initiatives and Investments - The company plans to invest up to $132 million in ADG RNG production projects through a joint development agreement with Maas Energy Works, LLC, with a revenue-sharing model of 49% for the company and 51% for Maas[56]. - The company contributed $5.5 million to the TotalEnergies Joint Venture in June 2023, which is expected to enhance RNG production capabilities[230]. - A joint development agreement with Tourmaline Oil Corp. was established for CAD $70 million to build CNG stations in Western Canada, with plans for additional stations in 2025[233]. - The construction of the RNG production facility at South Fork Dairy is expected to be completed in 2025 at a cost of approximately $85 million, producing an anticipated 2.6 million GGEs of RNG annually[235]. Safety and Operational Performance - The company's Total Recordable Incident Rate (TRIR) for 2024 was 1.98, lower than the national average of 2.7, indicating strong safety performance[74]. - The company relies on licensed subcontractors for construction work, which could expose it to liabilities for damages or injuries[144]. Future Outlook - The company expects sales of renewable natural gas (RNG) and conventional natural gas to grow as demand for sustainable fuel increases, driven by regulatory and investment community pressures[250]. - The market for vehicle fuels is relatively new and developing, leading to slow and unpredictable growth, particularly in the heavy-duty trucking sector[251]. - The company anticipates that the lower GHG emissions associated with RNG will result in increased demand for this fuel in key customer markets[253].

Exhibit 99.1 Clean Energy Reports Revenue of $109.3 Million and 62.0 Million RNG Gallons Sold for the Fourth Quarter of 2024 NEWPORT BEACH, Calif. — (BUSINESS WIRE) — February 24, 2025 — Clean Energy Fuels Corp. (NASDAQ: CLNE) ("Clean Energy" or the "Company") today announced its operating results for the fourth quarter of 2024 and year ended December 31, 2024. Financial Highlights Operational and Strategic Highlights Commentary by Andrew J. Littlefair, President and Chief Executive Officer "Hats off to the ...

Clean Energy Fuels Corp. (NASDAQ:CLNE) Q3 2024 Earnings Conference Call November 6, 2024 4:30 PM ET Company Participants Robert Vreeland - Chief Financial Officer Andrew Littlefair - President and Chief Executive Officer Conference Call Participants Rob Brown - Lake Street Capital Matthew Blair - TPH Craig Shere - Tuohy Brothers Eric Stine - Craig-Hallum Pavel Molchanov - Raymond James Betty Zhang - Scotiabank Dushyant Ailani - Jefferies Jason Gabelman - TD Cowen Paul Cheng - Scotiabank Operator Good day, e ...

Clean Energy Fuels (CLNE) came out with quarterly earnings of $0.02 per share, beating the Zacks Consensus Estimate of a loss of $0.02 per share. This compares to break-even earnings per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 200%. A quarter ago, it was expected that this provider of natural gas as an alternative fuel for vehicle fleets would post a loss of $0.04 per share when it actually produced earnings of $0.01, deli ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-33480 CLEAN ENERGY FUELS CORP. (Exact name of registrant as specified in its charter) Delaware 33-0968580 ( ...