Clean Energy Fuels makes advances in gas and LNG

Tuesday, 17 November 2015

The company said gallons delivered for the third quarter rose by 17 percent to 80.6 million gallons, compared with 68.6M gallons in the same period a year ago.

Gallons delivered for the first nine months increased 19 percent to 230.2M gallons, compared with 192.7M gallons delivered in 2014.

Revenue for the third quarter was $92.3M, down $11.1M or 11 percent compared to the $103.4M posted in the same three months last year.

"We are making great progress in leveraging our business model as we grew volumes and generated positive adjusted earnings this quarter, while operating in this prolonged low oil price environment," said Andrew J. Littlefair, Clean Energy's President and Chief Executive.

The Newport Beach, California-based company builds LNG and compressed natural gas fueling stations.

It also manufactures LNG and CNG equipment and technologies for itself and other companies.

It additionally develops renewable (or redeemed) natural gas (RNG) production facilities for waste products.

Clean Energy shares have had a tough time on the Nasdaq since reaching a high of $13.44 on December 23, 2013. They were last trading at $5.22 per share.