Shares of Clean Energy Fuels (CLNE) are giving back about 8% of today’s 25% surge after hours after reporting mixed results. Revenues missed expectations by one million at 35.3 million for the quarter, good for a 21% increase over the year ago quarter. EPS, excluding one time stock compensation charges came in at a loss of .18/share, a bit better than the .22 loss analysts had expected. That compares to a flat non GAAP EPS … Read the rest
Category Archives: Liquified/Compressed Natural Gas Fuel
City of Burbank Extends Clean Energy Fuels (CLNE) Contract
Clean Energy Fuels (CLNE) is announcing this morning that the City of Burbank, California is expanding its contract with the company to 2022. Under terms of the contract, CLNE will design, build and operate a new compressed natural gas (CNG) fill station at the Public Works Yard.
“We are pleased to continue and extend our successful CNG fuel relationship with the City of Burbank, where we have provided reliable, cost-effective, environmentally-friendly fueling services for the … Read the rest
Fuel Systems Solutions (FSYS) Reports Blow Out Earnings
Fuel Systems Solutoins (FSYS) which provides conversion kits for cars to run on natural gas reported a blow out quarter after the bell today, posting .75/share in earnings which nearly tripled analyst estimates and represents a 369% increase over the year ago quarter. Revenues climbed 61.8% over the year ago quarter to 105.5 million.
FSYS CEO said, “Even with recent energy price volatility, during the third quarter, Fuel Systems Solutions achieved 62 percent revenue … Read the rest
California Prop 10 Defeated, A Blow to Pickens Plan & Clean Energy Fuels (CLNE)
With oil prices well off their peak and California mired in financial woes, California’s Prop 10 (or California Alternative Fuels Initiative) which would have provided incentives for purchasers of alternative fuel vehicles, research for development of solar and other renewable energies and training for green collar jobs was defeated by a wide margin.
Many have come to know it has the key for T Boone’s “Pickens Plan” because it calls for much greater use of … Read the rest
Clean Energy Fuels (CLNE) Dives On Secondary Offering, Releases Preliminary Results
Clean Energy Fuels (CLNE) broke through some key support today below $8/share on news the company is selling $35 million in stock to meet needs for working capital and other general purposes which may include expenses related to its Cali LNG plant and future acquisitions.
The CEO stated, “This was a planned step in providing resources to meet our capital expenditure needs and fund the growth of our business. Given the challenging and volatile capital … Read the rest
Clean Energy Fuels (CLNE) Purchase of FuelMaker Cancelled
A few hours ago it was announced that Clean Energy Fuels (CLNE) and American Honda Motor have mutually agreed to terminate the purchase agreement of FuelMaker Corp of Toronto for $17 million. No word on what led to the cancellation.… Read the rest
American Technology Research Coverage on Aventine Renewables (AVR), VeraSun (VSE) & Fuel Systems Solutions (FSYS)
American Technology Research Reinstated coverage today on a few alternative energy plays during the trading day today:
* Aventine Renewable (AVR) with a Neutral rating and price target of $3
* VeraSun (VSE) with a Neutral rating and price target of $2.25
* Fuel Systems Solutions (FSYS) get a Buy rating and a price target of $45 (it’s getting interesting down here, but I’d like to see it come back and test the area around … Read the rest
Clean Energy Fuels Corp. (CLNE) To Build CNG Fueling Stations At Major Airports in Atlanta and Oklahoma City
Clean Energy Fuels Corp will open two new compressed natural gas stations near Atlanta’s Atlanta’s Hartsfield-Jackson International Airport and Oklahoma City’s Will Rogers World Airport. Although the primary clientele of the stations will be municipal and airport vehicles, they are going to be public access stations, which is great news for anyone in these areas who owns a CNG-powered vehicle or is thinking about purchasing one. Clean Energy Fuels will own and operate the new … Read the rest
Clean Energy Fuels (CLNE) Announces Deal With Seattle Garbage Collection Service
Clean Energy Fuels, the natural gas refueling company owned by T. Boone Pickens, announced yesterday that it has made an agreement with official Seattle trash-collection company CleanScapes. Under the terms of the 10-year agreement, Clean Energy Fuels will build and operate a natural gas refueling station to service CleanScape’s vehicles. Like contractors in cities across the country, CleanScapes wants to upgrade its fleet to use vehicles that produce fewer emissions. The company plans to buy … Read the rest
Heavily-Contested California Ballot Measures May Benefit Clean Energy Fuels Corp, CLNE
This fall, Californians will vote on two ballot measures related to alternative energy generation, Proposition 7 and Proposition 10. Although measures encouraging alternative energy generation would seem to be a no-brainer in California, these measures have received a lot of opposition from smaller alternative energy companies and environmental groups.
Proposition 7 would require utility companies to generate half of their power from renewable sources by 2025. On the face of it, that seems like a … Read the rest