Clean Energy Fuels Corp. (NASDAQ: CLNE) Financial Performance Review

• Clean Energy Fuels Corp. (NASDAQ:CLNE) reported a revenue of $104.9 million, surpassing estimates and indicating growth from the previous year.
• The company recorded an EPS of -$0.08135, missing the estimated EPS, but showed improvement in net loss and adjusted EBITDA year-over-year.
• Despite a negative P/E ratio, CLNE's price-to-sales ratio and strong liquidity suggest investor confidence and a solid financial foundation for future operations.

Clean Energy Fuels Corp. (NASDAQ:CLNE) is a key player in the natural gas industry, focusing on providing clean fuel solutions. The company operates within the Zacks Utility - Gas Distribution industry, offering renewable natural gas (RNG) and conventional natural gas for vehicle fleets. Despite facing competition from other clean energy providers, CLNE continues to make strides in its financial performance.

On November 6, 2024, CLNE reported an earnings per share (EPS) of -$0.08135, which fell short of the estimated EPS of -$0.02. This indicates a larger-than-expected loss for the quarter. However, the company generated a revenue of approximately $104.9 million, surpassing the estimated revenue of $100.6 million. This revenue growth is a positive sign, reflecting an increase from the $95.6 million reported in the same quarter of 2023.

Despite the negative EPS, CLNE's financial performance shows improvement. The company recorded a net loss of $18.2 million, or $0.08 per share, which is better than the $25.8 million, or $0.12 per share, loss in the third quarter of the previous year. Additionally, the adjusted EBITDA grew to $21.3 million from $14.2 million in Q3 2023, indicating enhanced operational efficiency.

CLNE's financial ratios provide further insights into its current standing. The negative price-to-earnings (P/E) ratio of approximately -10.14 highlights ongoing losses. However, the price-to-sales ratio of about 1.76 suggests that investors are willing to pay $1.76 for every dollar of sales, indicating some confidence in the company's revenue potential. The debt-to-equity ratio of about 0.51 suggests a moderate level of debt relative to equity, while a current ratio of approximately 3.06 indicates strong liquidity.

Looking ahead, CLNE maintains its outlook for a GAAP net loss ranging from $91 million to $81 million and an adjusted EBITDA between $62 million and $72 million for the year 2024. As of September 30, 2024, the company holds cash, cash equivalents, and short-term investments totaling $243.5 million, providing a solid financial cushion for future operations.