Clean Energy Fuels reported first-quarter revenue that easily topped analysts’ estimates, while the net loss narrowed to $12.4 million from $135 million in the same period a year earlier. The shares lost 2% in after-hours trading.
Revenue for the period was $117.6 million compared to an analyst estimate of $96.4 million, Clean Energy Fuels said in a statement.
Recently named CEO Clay Corbus said in the statement that “at the end of the quarter the conflict in Iran and the resulting higher oil prices has driven up the price of diesel. Fleets are taking note of our much less volatile transportation fuel.”
For further details, see the May 18 print edition.
