Clean Energy Fuels ( (CLNE) ) has released its Q3 earnings. Here is a breakdown of the information Clean Energy Fuels presented to its investors.
Clean Energy Fuels Corp., a leader in renewable natural gas (RNG) for the transportation market, has announced its financial results for the third quarter of 2024, highlighting both revenue growth and operational advancements. The company reported a revenue of $104.9 million, an increase from $95.6 million in the same quarter of 2023, alongside a reduction in net loss to $18.2 million from $25.8 million. Key financial metrics included a notable increase in adjusted EBITDA to $21.3 million, up from $14.2 million the previous year, reflecting improved operational performance. Clean Energy Fuels also reported selling 59.6 million gallons of RNG, marking a 5.1% increase year-over-year, and continued its strategic expansion with new projects and partnerships, including a new RNG facility and multiple CNG fueling stations. Looking forward, Clean Energy Fuels maintains its guidance for 2024, with expectations for continued growth in RNG volumes and strategic infrastructure development, supporting its mission to decarbonize the transportation sector.
