CLNE · Clean Energy Fuels Corp.
One customer — 10% of revenue (the three and six months ended June 30, 2025)
“During the three and six months ended June 30, 2025, one customer accounted for 10% of the Company’s total revenue, respectively.”
Price & Indicators
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Metrics snapshot
Useful current figures from the complete screener profile.
AI Brief
Q2 FY26 earnings call · Aug 6, 2026TL;DR. Clean Energy reported Q2 revenue of $106.4M and $16.0M of adjusted EBITDA, with RNG gallons up 2.9% YoY to 63.2M, and is maintaining its full-year 2026 adjusted EBITDA guidance of $70–$75M (which assumes up to $5M of upside from pending 45Z/GREET guidance, now expected in Q4, and flags downside risk if guidance slips or is minimal).
- + Total fuel volume grew 7% YoY to 81.8M gallons, with RNG gallons up 2.9% to 63.2M
- + RNG upstream production ramped to 2.1M gallons, well above prior year, driving a notable sequential improvement in upstream results
- + Revenue rose to $106.4M from $102.6M on higher station construction and increased RIN/LCFS credit values
- + Cash and short-term investments grew to $138M from $126M at end of March
- + Awarded a $27M hydrogen station contract with OCTA and Puerto Rico LNG gas-to-power contracts, expanding non-vehicle fuel revenue opportunities
- − Adjusted EBITDA declined to $16.0M from $17.5M YoY
- − Full-year 2026 adjusted EBITDA guidance is at risk of coming in below the $70–$75M range if 45Z/GREET guidance is delayed or provides minimal benefit
- − RNG heavy-duty trucking volumes held steady amid a large pre-buy of legacy diesel trucks and 2027 EPA emission standards uncertainty, slowing X15N adoption
- − GAAP net loss for Q2 was $(14.9)M, or $(0.07) per share
- − LCFS pathway conversions remain slow and uncertain, with South Fork/East Valley not expected until ~2028 and not factored into forecast
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Strong SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted EBITDA non-GAAP | $16M | Q2 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net loss attributable to Clean Energy Fuels Corp. -14.85M
+128K Income tax expense (benefit)
+5.51M Interest expense
-1.62M Interest income
+10.68M Depreciation and amortization
+9.61M Amazon warrant charges
+2.25M Stock-based compensation expense
-207K Amortization of investment tax credit from consolidated RNG project
+1.25M Loss (gain) from SAFE S.p.A. equity method investment
+249K Loss (gain) from change in fair value of derivative instruments
+3.52M Depreciation and amortization from RNG equity method investments
+197K Interest expense from RNG equity method investments
-196K Interest income from RNG equity method investments
-514K Amortization of investment tax credit from RNG equity method investments
= Adjusted EBITDA 16M
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| bpJV production volume | 1.4M | the three months ended June 30, 2026 filing | — |
| Conventional natural gas | 18.6M | Q2 2026 | — |
| Conventional natural gas volume | 18.6M | the three months ended June 30, 2026 filing | — |
| RNG | 63.2M | Q2 2026 | — |
| RNG gallons sold | 63.2M | Q2 2026 | — |
| RNG volume | 63.2M | the three months ended June 30, 2026 filing | — |
| South Fork production volume | 0.5M | the three months ended June 30, 2026 filing | — |
| Station construction cost of sales | $14.1M | the three months ended June 30, 2026 filing | — |
| Total fuel volume | 81.8M | Q2 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Oil & Gas Refining & Marketing — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
CLNE
this stock
Clean Energy Fuels Corp.
|
$350.51M | -25.7% | -15.2% | — | 3.5% |
|
VLO
Valero Energy Corp/Tx
|
$111.48B | +157.6% | -5.5% | 16.1 | 3.4% |
|
MPC
Marathon Petroleum Corp
|
$110.51B | +166.5% | +25.8% | 13.6 | 2.7% |
|
PSX
Phillips 66
|
$102.05B | +109.0% | -7.5% | 14.6 | 1.7% |
|
DINO
HF Sinclair Corp
|
$19.68B | +150.0% | +64.4% | 10.6 | 5.5% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| CLNE | -1.9% | -5.5% | -31.6% | +0.0% | -25.7% |
| SPY | +1.2% | +0.6% | +11.6% | +1.6% | +13.6% |
| vs SPY | -3.1% | -6.1% | -43.2% | -1.6% | -39.3% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.