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Thursday, Apr 18, 2024
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Clean Energy Fuels Revenue Slips; Gallons Delivered Up

Share price little changed after earnings release

Newport Beach-based Clean Energy Fuels Corp. said fourth quarter revenue slipped 6% on an annual basis to $106.9 million, while the company’s sales of its renewable natural gas for vehicles increased 4.8% in the period compared to a year earlier.

CEO Andrew Littlefair said 2024 is a “critical year” for the company with the commercial introduction of the Cummins X15N engine, which is designed for heavy-duty and on-highway uses and is expected to increase demand for the type of fuel that Clean Energy produces.

Shares in Clean Energy Fuels were little changed in late trading after closing up 2.7% at $3.04 apiece for a market cap of $678 million.

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Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal
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