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Clean Energy -13% to five-year lows after Q4 earnings miss

  • Clean Energy Fuels (CLNE -13.1%) falls to its lowest price since 2009 after posting Q4 earnings and revenue that trailed market consensus; the $85M in sales was down 14% Y/Y and included $22.7M in construction revenue related to the sale of two compressed natural gas stations.
  • Q4 deliveries rose 13% Y/Y to 55.5M gallons, and CLNE President/CEO Andrew Littlefair says 2013 "will go down as the year the heavy-duty trucking industry began its transition to natural gas in a meaningful way."
  • Dougherty downgrades shares to Neutral from and removes its $16 price target, as CLNE failed to give insight into its expectations for 2014 results; the firm says progress in natural gas engine adoption does not seem to be translating into increased visibility into CLNE's path to profit.

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Comments (3)
  • paulbip
    , contributor
    Comments (144) | Send Message
     
    How can it be an earnings miss when CLNE does not give projections.
    28 Feb 2014, 03:48 PM Reply Like
  • windchill
    , contributor
    Comments (2) | Send Message
     
    Iam still a believer of clne but my patience is wearing thin. When is this natural gas highway going to really take off? It seems when natural gas goes up it hurts companies like clne wprt and fsys. I believe we are at the pivatol point where we will see some upcoming news that should bode well for this industry
    2 Mar 2014, 11:04 AM Reply Like
  • windchill
    , contributor
    Comments (2) | Send Message
     
    Iam still a believer of clne but my patience is wearing thin. When is this natural gas highway going to really take off? It seems when natural gas goes up it hurts companies like clne wprt and fsys. I believe we are at the pivatol point where we will see some upcoming news that should bode well for this industry LPL
    4 Mar 2014, 06:01 AM Reply Like
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