Shares of Seal Beach’s Clean Energy Fuels Corp. jumped Friday a day after the operator of natural gas fueling stations reported better than expected earnings.
Clean Energy’s shares were up about 11% in afternoon New York trading to a market value that topped $930 million.
On Thursday, Clean Energy reported an adjusted fourth-quarter profit of $13 million, versus a loss of $1.9 million a year earlier.
That topped the $12.2 million profit analysts were expecting on average.
Revenue nearly doubled from a year earlier to $83 million.
Wall Street was expecting sales of $70 million.
Clean Energy runs natural gas fueling stations for fleets of taxis, buses and other vehicles.
Last month, Clean Energy signed a seven-year deal with Atlanta-based United Parcel Services of America Inc. to provide fuel for a new fleet of 48 natural gas trucks in Las Vegas.
The company didn’t provide an outlook for the current quarter or 2011 with its fourth-quarter results.
