Clean Energy Fuels (CLNE) Beats With Another Flat Quarter

Clean Energy Fuels (CLNE) which provides compressed natural gas fueling stations (mostly for commercial vehicles), is still in search of consistent profits and revenue growth.  While the company beat estimates slightly posting a loss of .06/share, that marks 5 out of the past 6 quarters the company has been under water.  Revenue growth remains stagnant.  The company posted revenues of $30.2 which about matched last years quarter.  I suppose in this environment flat growth isn’t all that bad and with the deals they’ve been putting together, they should begin seeing some growth next year.  In fact 2010 is expected to be the first profitable year in five years for the company.

Andrew J. Littlefair, Clean Energy’s President and Chief Executive Officer, stated, “We are seeing positive momentum for the natural gas industry. Despite the pressures of a weak economy, we continue to win contracts to build new stations and serve a growing number of natural gas fleets. Our new contracts also reflect geographic expansion that bodes well for our long-term success.

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