Fuel Systems Solutions (FSYS) smashed Wall St estimates this morning by reporting quarter over quarter revenue and earnings growth of 10% and 5% respectively. The company posted .77/share which was well ahead of the estimate of .43/share on revenues of $116.2. The company also raised guidance for the full year 09. The company sees revenues in the range of $415 – 425 million vs the Wall St estimate of $380.
CEO Mariano Costamagna commented on … Read the rest
Clean Energy Fuels (CLNE) keeps racking up the long term deals to supply CNG fueling services, many of them at airports in California. It’s secured another one. This morning the company is announcing it will provide CNG fueling stations at Ontario Intl Airport in Los Angeles for shuttle buses, taxicabs and shuttle vans. The plan is to convert the entire fleet of shuttle buses and taxicabs to CNG fuel within two years with CLNE providing … Read the rest
Fuel Systems Solutions has announced that they are in the process of lining up automotive fleet customers for their EPA-certified bi-fuel systems. Initial customers who have placed orders include energy companies like Chesapeake Energy Corporation, Apache Corporation, Anadarko Energy, DCP Midstream Partners, Laredo Energy and National Oilwell Varco. They also have orders from as well as state and municipal organizations in Texas and Oklahoma, including the Texas Department of Transportation, the Railroad Commission of Texas … Read the rest
Janney Montgomery is out this morning maintaining their Buy rating on Clean Energy Fuels (CLNE) and nearly doubling the price target from $14 to $27.
Hat tip to StreetInsider.com for the following analyst comment:
We are raising our fair value estimate for BUY-Rated Clean Energy Fuels (CLNE) from $14 to $27, based on 18x our CY2011 EPS estimate of $1.49. We believe investors are increasingly looking into 2011 to see which companies will be the … Read the rest
It appears Clean Energy Fuels (CLNE) wants to position itself for the potential growth in natural gas powered vehicles with a purchase this morning of BAF Technologies which is the leading provider of natural gas vehicle systems and conversions in the US. This is a great move and gives them a complete natural gas vehicle solution from conversion to the fuel pump. Fuel Systems Solutions (FSYS) is the current leader in nat gas auto conversions, … Read the rest
Clean Energy Fuels (CLNE) along with its customers and government agency partners have been awarded $34 million by the US Dept of Energy in order to offset the higher of cost natural gas vehicles. It’s part of a larger $300 million infusion allocated by the American Recovery and Reinvestment Act that will be used to defer the cost of building 11 natural gas fueling stations and put more 9000 alternative fuel vehicles on the road. … Read the rest
There’s that earnings headline discrepancy again. Look around at the Clean Energy Fuels (CLNE) earnings headlines and you’ll see just about all publications reporting “wider than expected losses”. What they’re including are those one time charges which analyst estimates don’t include, so it’s misleading. Take out one time costs (the non GAAP measure) and the company actually beat estimates by .06/share, reporting a loss of .01/share. Revenue did miss the analyst estimates of $31.46 million, … Read the rest
Not a real impressive quarter out of FSYS after the bell today, but in this environment all you need to do is beat low expectations, guide in line or higher and the stock is usually off to the races. No exception here. The company beat analyst estimates by .14/share, posting .46/share which is a 15% decrease from the year ago quarter. Revenues were off 6% over the year ago period, but also beat estimates with … Read the rest
Yesterday, Fuel Systems Solutions (FSYS) got a bit more diversified with the purchase of the Power Systems unit of Teleflex for $14.5 million which includes industrial and transportation alternative fuel components and systems and auxiliary power systems. The deal is expected to close this quarter and begin contributing to earnings next year.
The Power Systems segment is comprised of 3 business units:
Idle Reduction & Power Management manufactures products to increase efficiency and reduce carbon … Read the rest
A-Power Energy is best known for their wind turbine biz but quietly have been pursuing and winning work to build biofuel facilities which we reported here several weeks ago. This morning they are announcing a potentially huge partnership deal with Macau Natural Gas, to construct an offshore liquid natural gas (LNG) complex to import, store and re-gasify LNG to help power the casino mecca Macau. A-Power’s industry alliance Shenyang Power Group, which it owns … Read the rest