NASDAQ$CLNE
Clean Energy Fuels Corp · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Clean Energy reported a decrease in revenue but an increase in RNG gallons sold, and exceeded Adjusted EBITDA expectations.
Clean Energy Fuels Corp. reported a decrease in revenue to $103.7 million compared to $132.2 million in Q1 2023, but an increase in renewable natural gas gallons sold by 8.6% to 58.0 million gallons. The company's net loss attributable to Clean Energy was $(18.4) million, or $(0.08) per share, compared to $(38.7) million, or $(0.17) per share, for Q1 2023. Adjusted EBITDA was $12.8 million, exceeding expectations, compared to $(4.0) million in Q1 2023.
- Revenue decreased to $103.7 million in Q1 2024 from $132.2 million in Q1 2023.
- RNG gallons sold increased by 8.6% to 58.0 million gallons in Q1 2024.
- Net loss attributable to Clean Energy improved to $(18.4) million, or $(0.08) per share, compared to $(38.7) million, or $(0.17) per share, for Q1 2023.
- Adjusted EBITDA rebounded to $12.8 million in Q1 2024, compared to $(4.0) million in Q1 2023.
Headline financials
Revenue & EPS history
Clean Energy · Revenue · Quarterly
$104M
Revenue by segment
Clean Energy · $6M total across 1 segment · Q2 2022
- Station Construction Sales$6M-1.6%100.0%
Forward guidance
The company's 2024 outlook remains unchanged, expecting a GAAP net loss between $(111) million and $(101) million, and an Adjusted EBITDA ranging from $62 million to $72 million.
Tailwinds
- GAAP net loss for 2024 is expected to range from approximately $(111) million to $(101) million.
- Adjusted EBITDA for 2024 is estimated to range from approximately $62 million to $72 million.
- Expectations exclude the impact of any acquisitions, divestitures, new joint ventures, transactions and other extraordinary events.
- Expectations exclude any lingering negative effects associated directly or indirectly with the COVID-19 pandemic.
- Expectations exclude macroeconomic conditions and global supply chain issues.
Headwinds
- GAAP net loss includes Amazon warrant charges estimated to be approximately $69 million.
- Changes in diesel and natural gas market conditions could result in unrealized gains or losses.
- Significant variations in the vesting of the Amazon warrant could significantly affect the Company’s estimated GAAP net loss for 2024.
- Expectations assume the calculation of Adjusted EBITDA in the same manner as described above.
- Expectations are forward-looking statements and are qualified by the statement under “Safe Harbor Statement”.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
-1.7%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+2.4%
Avg return
30 days after
40%
26 / 65 earnings
Positive
+31.5%
Q4 2018
Best reaction
-26.3%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.7% | -8.5% | -13.8% | |
| Q4 2025 | -6.7% | -9.8% | +2.0% | |
| Q3 2025 | -15.9% | -15.5% | -17.6% | |
| Q1 2025 | -6.0% | +13.5% | +6.4% | |
| Q4 2024 | -25.5% | -24.7% | -35.8% | |
| Q3 2024 | +5.2% | +0.0% | -10.6% | |
| Q2 2024 | +19.8% | +13.7% | +7.3% | |
| Q1 2024 | +5.1% | +16.5% | +24.1% | |
| Q4 2023 | -1.4% | +2.0% | -9.5% | |
| Q3 2023 | -6.1% | -1.7% | -2.2% | |
| Q2 2023 | -7.5% | -8.2% | -2.9% | |
| Q1 2023 | +3.8% | +1.4% | +3.0% | |
| Q4 2022 | -15.3% | -12.9% | -23.9% | |
| Q3 2022 | +2.2% | +13.3% | -16.6% | |
| Q2 2022 | +17.9% | +19.3% | -3.0% | |
| Q1 2022 | -18.3% | -32.8% | -10.0% | |
| Q4 2021 | +15.6% | +23.6% | +31.8% | |
| Q3 2021 | -8.7% | -0.3% | -32.6% | |
| Q2 2021 | +8.9% | +18.5% | +14.6% | |
| Q1 2021 | -16.2% | -18.9% | -11.6% | |
| Q4 2020 | +26.9% | +38.8% | +22.3% | |
| Q3 2020 | -1.2% | +11.4% | +75.1% | |
| Q2 2020 | +4.6% | -1.8% | -9.2% | |
| Q1 2020 | +4.7% | +3.0% | +18.4% | |
| Q4 2019 | -26.3% | -11.7% | +4.5% | |
| Q3 2019 | -6.7% | -6.7% | -11.2% | |
| Q2 2019 | -9.8% | -16.4% | -20.7% | |
| Q1 2019 | -4.8% | -8.1% | -18.1% | |
| Q4 2018 | +31.5% | +22.1% | +47.3% | |
| Q3 2018 | +11.9% | +0.4% | -10.6% | |
| Q2 2018 | -10.5% | -1.8% | -2.2% | |
| Q1 2018 | +2.6% | +7.3% | +56.0% | |
| Q4 2017 | -1.4% | +8.2% | +14.4% | |
| Q3 2017 | -14.7% | -14.1% | -7.9% | |
| Q2 2017 | -9.1% | -10.9% | -7.9% | |
| Q1 2017 | +2.9% | +4.1% | +1.7% | |
| Q4 2016 | -4.1% | -3.7% | -5.9% | |
| Q3 2016 | -16.6% | -12.0% | -14.6% | |
| Q2 2016 | +17.5% | +20.6% | +61.9% | |
| Q1 2016 | +13.3% | — | — | |
| Q4 2015 | +7.3% | — | — | |
| Q3 2015 | -9.4% | — | — | |
| Q2 2015 | -11.8% | — | — | |
| Q1 2015 | -1.8% | — | — | |
| Q4 2014 | +14.5% | — | — | |
| Q3 2014 | +3.0% | — | — | |
| Q2 2014 | -1.0% | — | — | |
| Q1 2014 | +9.2% | — | — | |
| Q4 2013 | -13.1% | — | — | |
| Q3 2013 | +3.7% | — | — | |
| Q2 2013 | +2.5% | — | — | |
| Q1 2013 | -4.8% | — | — | |
| Q4 2012 | +3.0% | — | — | |
| Q3 2012 | +8.6% | — | — | |
| Q2 2012 | -2.4% | — | — | |
| Q1 2012 | -2.9% | — | — | |
| Q4 2009 | -7.0% | — | — | |
| Q4 2011 | -7.0% | — | — | |
| Q3 2011 | -3.5% | — | — | |
| Q3 2010 | -3.5% | — | — | |
| Q4 2010 | -13.5% | — | — | |
| Q2 2010 | -13.5% | — | — | |
| Q2 2011 | -13.5% | — | — | |
| Q1 2011 | -1.8% | — | — | |
| Q1 2010 | -17.9% | — | — |
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