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

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

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 Up 26.5%

Shares of Clean Energy Fuels stock traded up $0.40 during midday trading on Friday, reaching $1.91. 7,298,265 shares of the company’s stock traded hands, compared to its average volume of 1,666,776. The stock has a 50 day moving average of $1.56 and a 200-day moving average of $2.00. Clean Energy Fuels has a 12 month low of $1.32 and a 12 month high of $2.84. The company has a market cap of $420.64 million, a PE ratio of -5.31 and a beta of 1.87. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.15 and a current ratio of 2.48.

Key Headlines Impacting Clean Energy Fuels

Here are the key news stories impacting Clean Energy Fuels this week:

• Positive Sentiment: CLNE reported $0.03 per share in adjusted earnings, ahead of estimates calling for a loss, and revenue of $112.2 million, above consensus of about $105.4 million. Revenue rose from $106.1 million a year earlier. Zacks earnings coverage
• Positive Sentiment: The company sold 66.8 million gallons of renewable natural gas (RNG) in the quarter. Its GAAP net loss narrowed to $5.7 million, or $0.03 per share, from $23.8 million, or $0.11 per share, a year earlier—evidence of improved results, although not yet GAAP profitability. Company earnings release
• Negative Sentiment: Despite the improvement, CLNE still posted a GAAP loss. The persistence of losses may temper investor enthusiasm if the company does not continue to improve profitability. Q3 results coverage

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CLNE shares. Weiss Ratings raised shares of Clean Energy Fuels from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, October 28th. UBS Group cut shares of Clean Energy Fuels from a “buy” rating to a “hold” rating and set a $2.75 target price on the stock. in a research report on Friday, July 17th. Raymond James Financial reissued a “strong-buy” rating and issued a $2.50 price target on shares of Clean Energy Fuels in a research note on Tuesday, August 18th. Finally, Jefferies Financial Group upgraded shares of Clean Energy Fuels to a “hold” rating in a research report on Tuesday, September 29th. One equities 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.