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Clean Energy Fuels (NASDAQ:CLNE) posted its earnings results after the bell yesterday that were mixed. The company beat analyst estimates on the EPS side posting a loss of .05/share vs the analyst estimate for a .09/share loss, but missed on the revenue side posting $65.3 million in revenue vs the expectation for $67 million. While the EPS number was better than expected and an improvement over the year ago’s .07/share loss, revenues were up nearly 70% over the year ago period, so not all that impressive. Despite the so so quarter, CEO Andrew Littlefair remained very optimistic about the future of natural gas fuel:

We believe the prospects for our growth are greater than ever. We are seeing a number of indications of accelerating adoption rates for natural gas vehicles in the heavy-duty sector where major trucking companies operate fleets with high volume fuel usage. Dillon Transport’s shift to LNG-powered trucks for transport of raw materials for Owens-Corning, the UPS decision to work with us to fuel their fleet of LNG-fueled trucks in the Las Vegas to California corridor, and Fair Oaks Dairy’s move to LNG for its 24/7 fleet that serves Kroger stores are just a few recent examples of the adoption of natural gas fueling for heavy duty trucking. We plan to continue our focus on developing a national LNG fueling corridor to support natural gas truck deployment by regional and national fleet operators.

I’m not seeing any guidance from the company, perhaps today. Shares are trading down today. Technically, shares of CLNE remain quite bullish. The big spike in late March/early April has given way to a consolidation period and the stock is currently testing support around the 50 day moving average. If it can hold there and begin moving up, that may provide a real nice entry point.

Source: Clean Energy Fuels Posts Mixed Results, Shares Remain Bullish