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

Clean Energy Fuels (NASDAQ:CLNE) issued its quarterly earnings results on Thursday. The utilities provider reported $0.03 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 business had revenue of $112.18 million for the quarter, compared to analyst estimates 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 Trading Down 3.8%

Shares of Clean Energy Fuels stock traded down $0.06 on Thursday, reaching $1.51. 1,776,997 shares of the company traded hands, compared to its average volume of 1,843,843. Clean Energy Fuels has a 52 week low of $1.32 and a 52 week high of $2.84. The company has a 50 day moving average of $1.56 and a 200 day moving average of $2.00. The company has a quick ratio of 2.15, a current ratio of 2.48 and a debt-to-equity ratio of 0.41.

Analyst Ratings Changes

CLNE has been the subject of a number of recent analyst reports. Weiss Ratings upgraded Clean Energy Fuels from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, October 28th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $2.50 target price on shares of Clean Energy Fuels in a research report on Tuesday, August 18th. Jefferies Financial Group upgraded Clean Energy Fuels to a “hold” rating in a research note on Tuesday, September 29th. Finally, UBS Group downgraded shares of Clean Energy Fuels from a “buy” rating to a “hold” rating and set a $2.75 price target on the stock. in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $2.38.

Clean Energy Fuels Company Profile

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.