Clean Energy Fuels (CLNE) came out with quarterly earnings of $0.01 per share, beating the Zacks Consensus Estimate of a loss of $0.04 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 125%. A quarter ago, it was expected that this provider of natural gas as an alternative fuel for vehicle fleets would post a loss of $0.03 per share when it actually produced a loss of $0.01, deliv ...

Revenue Performance - Total revenue for the three months ended June 30, 2023, was $90,548,000, representing a 10.5% increase compared to $97,954,000 for the same period in 2024[9]. - Total revenue for the three months ended June 30, 2024, was $97.954 million, representing a 8.5% increase from $90.548 million in the same period of 2023[33]. - Total product revenue for the six months ended June 30, 2024, was $172.374 million, down from $195.356 million in the same period of 2023, a decrease of 11.7%[33]. - Total product revenue for the three months ended June 30, 2024, was $83.0 million, up from $75.6 million in the same period of 2023, representing a 19.5% increase[146]. - Volume-related product revenue increased to $77.304 million for the three months ended June 30, 2024, up from $69.777 million in the prior year, marking an increase of 10.9%[33]. - Fuel sales for the six months ended June 30, 2024, were $125.6 million, compared to $160.2 million for the same period in 2023, reflecting a decrease of 21.6%[146]. Profitability and Loss - Operating loss for the three months ended June 30, 2023, was $(13,055,000), compared to $(5,592,000) for the same period in 2024, reflecting a worsening of 133.3%[10]. - Net loss attributable to Clean Energy Fuels Corp. for the three months ended June 30, 2023, was $(16,301,000), compared to $(16,293,000) for the same period in 2024, showing a slight improvement of 0.05%[11]. - Basic and diluted net loss per share for the six months ended June 30, 2023, was $(0.25), while for the same period in 2024, it improved to $(0.16), a reduction of 36%[10]. - Comprehensive loss for the three months ended June 30, 2023, was $(14,603,000), while for the same period in 2024, it increased to $(16,834,000), representing a decline of 15.2%[12]. - The company reported a net loss attributable to Clean Energy Fuels Corp. of $34.7 million for the six months ended June 30, 2024[152]. Expenses and Costs - Total operating expenses for the three months ended June 30, 2023, were $103,603,000, which remained relatively stable compared to $103,546,000 for the same period in 2024[10]. - Interest expense for the three months ended June 30, 2023, was $(4,365,000), compared to $(7,921,000) for the same period in 2024, indicating a decrease of 44.5%[10]. - Selling, general and administrative expenses decreased by $0.2 million to $28.3 million in Q2 2024, primarily due to a $3.2 million decrease in stock-based compensation[175]. - Product cost of sales decreased by $1.7 million to $53.9 million, representing 55.0% of total revenue, down from $55.6 million or 61.4% in Q2 2023[174]. Cash Flow and Liquidity - Cash and cash equivalents at the end of the period on June 30, 2024, were $125,142 thousand, up from $55,162 thousand at the end of the previous period[16]. - The company reported net cash provided by operating activities of $21,355 thousand for the six months ended June 30, 2024, compared to a net cash used of $6,962 thousand in the same period of 2023[16]. - Cash flows from investing activities resulted in a net cash used of $(3,922) thousand for the six months ended June 30, 2024, compared to $(62,018) thousand in the same period of 2023[16]. - As of June 30, 2024, total cash and cash equivalents and short-term investments were $249.3 million, down from $263.1 million as of December 31, 2023[194]. Investments and Joint Ventures - The Company and Tourmaline Oil Corp. entered a CAD $70 million Joint Development Agreement to build up to 20 CNG fueling stations over the next five years, sharing costs and profits equally[24]. - The Company recorded a loss of $1.0 million and $0.5 million from the TotalEnergies joint venture in the three months ended June 30, 2023 and 2024, respectively[43]. - The Company has ongoing projects with TotalEnergies and BP for RNG production and management of fueling stations[138]. - The Company plans to invest up to $132.0 million in ADG RNG production projects through the Maas joint development agreement[47]. Debt and Financing - The total debt as of June 30, 2024, was $262,955,000, with an estimated fair value of $244,069,000[81]. - The Stonepeak Credit Agreement includes a senior secured term loan of $300 million with an interest rate of 9.50% per annum, maturing on December 12, 2029[91]. - The company has a total debt of $262.9 million as of June 30, 2024, slightly down from $261.2 million as of December 31, 2023, showing a marginal decrease of about 0.6%[90]. - The company may need to raise additional capital to fund planned or unanticipated capital expenditures, investments, or debt repayments, depending on various factors including natural gas fuel sales and new station construction[196]. Market and Strategic Initiatives - The Company is focused on developing renewable natural gas projects, particularly in the dairy and livestock waste sectors, to enhance its product offerings in the clean energy market[19]. - The company plans to expand hydrogen fuel availability for vehicle fleets, indicating a strategic shift towards cleaner energy solutions[140]. - The market for vehicle fuels has experienced slow and unpredictable growth, influenced by macroeconomic events and regulatory challenges[156]. - The company is closely monitoring the bankruptcy proceedings of a dairy farm partner involved in an ADG RNG production project, which may impact future operations[154].

Exhibit 99.1 Clean Energy Reports Revenue of $98.0 Million and 57.1 Million RNG Gallons Sold for the Second Quarter of 2024 NEWPORT BEACH, Calif. — (BUSINESS WIRE) — August 7, 2024 — Clean Energy Fuels Corp. (NASDAQ: CLNE) ("Clean Energy" or the "Company") today announced its operating results for the second quarter of 2024. Financial Highlights ● Revenue of $98.0 million in Q2 2024 compared to $90.5 million in Q2 2023. ● Net loss attributable to Clean Energy for Q2 2024 was $(16.3) million, or $(0.07) per ...

A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years. Therefore, the Zacks rating upgrade for Clean Energy Fuels basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price. The change in a company's future earnings potential, as reflected in ...

As a rule of thumb, it's best to avoid equities that have suffered severe losses. Yes, there is a common adage that you should be greedy when others are fearful – you know the rest. However, recklessly bidding up shares because they're swimming in red ink is typically a poor strategy. Still, for certain stocks near 52-week lows, the discount could be tempting. What we're focused on is not just about the percentage losses. That's only one part of the story. The other, more important component is the underlyi ...

How to Determine if a Stock is Oversold quest for reaching the old equilibrium of supply and demand. A downtrend has been apparent in Clean Energy Fuels (CLNE) lately with too much selling pressure. The stock has declined 23.3% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround. We use Relative Strengt ...

Clean Energy Fuels (CLNE) announced that it has completed the construction of a third production train at its liquefied natural gas (LNG) plant in Boron, CA. As the largest plant of its kind in Southwest United States, the Boron plant now has the capacity to produce up to 270,000 gallons of cleaner-burning LNG every day, increasing the total capacity by 50%. By adding a third production train, the supply is likely to be able to keep up with the increasing demand for bulk LNG from customers who want to decar ...

The markets are moving higher after a cooler reading on inflation stirs hopes that interest rates will be cut at some point in 2024. However, with many stocks still looking significantly overvalued, investors are on the hunt for undervalued cheap stocks. A cheap stock can be measured by fundamentals like its price-to-earnings (P/E) ratio. However, in many cases, a stock's price is the barometer of cheap or expensive. In this article, we're looking at stocks trading for $20 or less. At this price, investors ...

The more Clean Energy sells, the more money it loses. And that's a good thing?Shares of natural gas-as-vehicle-fuel provider Clean Energy Fuels (CLNE 11.50%) soared 17% through 9:50 a.m. ET this morning after beating on both the top and bottom lines last night.Heading into the first-quarter 2024 report, analysts forecast Clean Energy would lose $0.04 per share (adjusted for one-time items) on sales of $99.6 million. In fact, Clean Energy's adjusted loss was only $0.01 per share, and sales exceeded expectati ...

Clean Energy Fuels Corp. (NASDAQ:CLNE) Q1 2024 Earnings Conference Call May 9, 2024 4:30 PM ET Company Participants Robert Vreeland - Chief Financial Officer Andrew Littlefair - President and Chief Executive Officer Conference Call Participants Eric Stine - Craig-Hallum Manav Gupta - UBS Rob Brown - Lake Street Capital markets Derrick Whitfield - Stifel Matthew Blair - TPH Betty Zhang - Scotiabank Pavel Molchanov - Raymond James Craig Shere - Tuohy Brothers Jason Gabelman - TD Cowen Operator Good day, every ...