Clean Energy Fuels (CLNE) Reports Mixed Results, Down 5% AH

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, coming in at $27.9 million which is an 18% drop from the year ago quarter.  Again, not a great quarter, but not as bad as the headlines would have you believe.  This

Andrew J. Littlefair, the CEO, stated, “We are very encouraged by the solid growth of our business in the second quarter, as we improved both our volumes and margins on a sequential and year-over-year basis. The acquisition of four transit property operations and the commencement of our new sales agreement for our renewable landfill gas drove these results. We are continuing to win contracts in several key markets, and we currently have 25 stations under construction or being upgraded as well as a very strong backlog. Additionally, we are seeing tangible progress at the Ports of Los Angeles and Long Beach with their clean truck roll out, and we remain well-positioned to capitalize on this opportunity.

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