Clean Energy Fuels ( (CLNE) ) has released its Q4 earnings. Here is a breakdown of the information Clean Energy Fuels presented to its investors.
Clean Energy Fuels Corp. is a leading provider of renewable natural gas (RNG) for the transportation sector, focusing on reducing greenhouse gas emissions through its extensive network of fueling stations across the U.S. and Canada.
In its latest earnings report, Clean Energy Fuels announced a revenue of $109.3 million for the fourth quarter of 2024, slightly up from $106.9 million in the same period of the previous year. The company also reported selling 62 million gallons of RNG in Q4 2024, marking an 8.8% increase compared to Q4 2023.
Key financial highlights include a net loss of $30.2 million for Q4 2024, which increased from a $18.7 million loss in Q4 2023. However, the company’s adjusted EBITDA improved to $23.6 million from $21.2 million year-over-year. For the full year, Clean Energy Fuels saw a reduction in net loss to $83.1 million from $99.5 million in 2023, while adjusted EBITDA nearly doubled to $76.6 million.
Strategically, Clean Energy Fuels expanded its RNG fueling capabilities and secured several new deals with major clients like DHL and LA Metro. The company also ventured into hydrogen fueling infrastructure, securing a contract for a new station in Riverside Transit.
Looking ahead, Clean Energy Fuels anticipates a GAAP net loss between $155 million and $160 million for 2025, with an adjusted EBITDA forecast of $50 million to $55 million. The company remains optimistic about the growing demand for RNG and its strategic partnerships, which are expected to drive future growth.