Last night I reported on Clean Energy Fuel’s (CLNE) strong earnings report and the Janney Montgomery Scott Buy rating reiteration is helping to push the stock to a new all time high today with heavy volume. They have raised the price target as well to $26. Hat tip to Street Insider for the following analyst comment:
“Clean Energy Fuels reported 4Q09 revenue and EPS that beat consensus revenue and EPS on lower-than-expected volumes. We would … Read the rest
Clean Energy Fuels (CLNE) is up about 3% in after hours trading after beating Wall St estimates by a wide margin on the EPS side. The company reported an EPS of .02/share while Wall St expected a .04/share loss. Revenues came in about 5% higher than expected at $42.2 million. That’s a nearly 50% increase over the year ago quarter and the company has now strung together two straight profitable quarters for the first time … Read the rest
Needham is out with a call following Fuel System Solutions (FSYS) earnings and is maintaining its Buy rating but is slashing the price target from $55 to $35.
Hat tip to Street Insider for the following analyst comment:
“FSYS reported a blowout Q4 with both rev and EPS well ahead of earlier estimates but in-line with pre-announcement. Stronger rev. led by higher growth in the transportation segment (up 95% y-o-y), mainly from the Italian market. … Read the rest
Fuel Systems Solutions (FSYS) has reported impressive quarterly results this morning, beating analyst estimates in the process. The company reported an EPS of $1.12 (vs estimates of .98/share) on revenues of $163.7 million (vs estimates of $158.7 million). That’s nearly a double in revenues over the year ago quarter and represents the 3rd straight sequential improvement. On the EPS side, the number improved many times over from the year ago quarter when the company … Read the rest
A few analyst notes to pass along today courtesy of Street Insider. FBR Research maintains its underperform rating on Trina Solar (TSL) and Canaccord Adams maintains its Buy rating on Fuel Systems Solutions (FSYS).
Analyst comment on Trina:
“We are updating our estimates following TSL’s earnings report from late last week. Our quarterly estimates have changed to account for the demand full-in in Germany as well as the company’s guidance and commentary, although our … Read the rest
T. Boone Pickens told the Houston Chronicle yesterday that he expects Congress to pass the Natural Gas Act by Memorial Day. If it’s passed, the act would greatly increase the use of natural gas as a fuel for heavy-duty fleets, which would be a boon (pun most definitely intended) to Pickens’ company Clean Energy Fuels. Consuming the equivalent of 21 barrels of crude oil per day, the oil used to fuel heavy-duty fleets represents a … Read the rest
Fuel Systems Solutions (FSYS) is issuing preliminary results this morning ahead of previous expectations and now expects full year 2009 revenue of about $450 million vs the previous estimate of $415 – $425. Gross margins are seen at the higher end of the 30 – 32% range.
Fuel Systems will report earnings March 4th.
CEO Mariano Costamagna commented, “Our business gained momentum in the fourth quarter of 2009, benefiting from the uncertain future of the … Read the rest
Westport Innovations (WPRT), which develops natural gas engines, reported a decent quarter after the bell today with results slightly ahead of analyst estimates. The company has never had a profitable quarter but continues to move closer to that goal and is expecting its first profitable year in 2011. The company reported a loss of $7.3 million or .21/share on revenues of $38.4 million.
The CEO commented on its relationship with Volvo, saying, “This was a … Read the rest
Clean Energy Fuels Inc just announced that they have been awarded a 10-year contract with Taxi Affiliation Services, the company that operates Yellow Cab Chicago. Under the terms of the contract, Clean Energy Fuels will build and operate two CNG fueling stations and supply fuel for Yellow Cab Chicago’s rapidly expanding CNG fleet, which will include an initial deployment of 100 new CNG taxis.
In addition, the stations will be open for public access and … Read the rest
Clean Energy Fuels just announced that it has been given a 10 year supply contract from the Dallas/Fort Worth International Airport. Under the agreement, Clean Energy Fuels will build and operate a CNG fueling station for the airport’s new fleet of CNG-powered shuttle buses. The airport plans to replace all 46 of its shuttle buses with CNG vehicles and to set allow CNG vehicles from the surrounding community to use the CNG fueling station. At … Read the rest