Clean Energy Fuels (CLNE) Tops Q3 Earnings Estimates

Core Viewpoint - Clean Energy Fuels reported quarterly earnings of $0.02 per share, surpassing the Zacks Consensus Estimate of a loss of $0.02 per share, compared to break-even earnings per share a year ago [1] Group 1: Earnings Performance - The quarterly report represents an earnings surprise of 200%, with the company previously expected to post a loss of $0.04 per share but actually producing earnings of $0.01, resulting in a surprise of 125% [2] - Over the last four quarters, Clean Energy Fuels has exceeded consensus EPS estimates three times [2] Group 2: Revenue Performance - The company posted revenues of $104.88 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 0.30%, compared to year-ago revenues of $95.57 million [3] - Clean Energy Fuels has topped consensus revenue estimates just once over the last four quarters [3] Group 3: Stock Performance and Outlook - Clean Energy Fuels shares have declined approximately 19.1% since the beginning of the year, while the S&P 500 has gained 21.2% [4] - The company's earnings outlook is mixed, with the current consensus EPS estimate for the coming quarter at -$0.01 on revenues of $107.68 million, and -$0.08 on revenues of $414.51 million for the current fiscal year [8] Group 4: Industry Context - The Utility - Gas Distribution industry, to which Clean Energy Fuels belongs, is currently in the top 37% of over 250 Zacks industries, indicating a favorable industry outlook [9] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that industry performance can significantly impact stock performance [6][9]