Clean Energy Fuels Q1 revenue up 13%, beats estimates on higher RNG demand amid elevated fuel prices
Clean Energy Fuels Corp. CLNE | 0.00 |
Overview
U.S. RNG supplier's Q1 revenue rose 13% yr/yr, beating analyst expectations
Q1 adjusted net income and adjusted EBITDA both beat analyst expectations
RNG gallons sold rose 33% yr/yr; new Idaho dairy RNG project placed into service
Outlook
Clean Energy expects 2026 GAAP net loss of $71 mln to $66 mln
Company estimates 2026 Adjusted EBITDA between $70 mln and $75 mln
Company says elevated oil and diesel prices are driving customer interest in RNG
Result Drivers
RNG VOLUME GROWTH - RNG gallons sold rose 33% yr/yr, driven by increased production and new projects coming online
CREDIT REVENUE INCREASE - Higher RIN and LCFS credit revenues contributed to overall revenue growth
OIL PRICE TAILWINDS - Elevated oil and diesel prices supported demand for RNG as fleets sought less volatile fuel options
Company press release: ID:nBw3j8D1xa
Key Details
Metric |
Beat/Miss |
Actual |
Consensus Estimate |
Q1 Revenue |
Beat |
$117.60 mln |
$97.85 mln (4 Analysts) |
Q1 EPS |
|
-$0.06 |
|
Q1 Adjusted Net Income |
Beat |
-$1.60 mln |
-$8.85 mln (4 Analysts) |
Q1 Net Income |
|
-$12.41 mln |
|
Q1 Adjusted EBITDA |
Beat |
$16.57 mln |
$13.79 mln (6 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas refining and marketing peer group is "buy"
Wall Street's median 12-month price target for Clean Energy Fuels Corp is $4.00, about 78.6% above its May 6 closing price of $2.24
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