On 06 May 2020, Clean Energy Fuels Corp. (NASDAQ: CLNE) changed -4.29% to recent value of $2.01. The stock transacted 512798 shares during most recent day however it has an average volume of 1316.69K shares. It spotted trading -39.09% off 52-week high price. On the other end, the stock has been noted 91.43% away from the low price over the last 52-weeks.
Clean Energy Fuels Corp. (CLNE) recently reported its operating results for the fourth quarter of 2019.
Andrew J. Littlefair, Clean Energy’s President and Chief Executive Officer, stated “Our volume continues to grow at a good pace with a 10% increase for the year over 2018 as we exceeded the 100M gallon mark in the fourth quarter for the second consecutive quarter. Our financial position dramatically improved in the quarter, lifted nicely by $47.1M in Alternative Fuels Tax Credit revenue, positioning us well going into 2020. We also have great momentum going into 2020 with increasing attention on renewable natural gas (RNG), on clean air heavy duty trucks, and particularly heavy-duty trucks running on our Redeem renewable RNG fuel. We believe the market’s increasing demand for Redeem positions us well for continued growth as an increasing number of consumers are turning to RNG to meet sustainability goals. These consumers are under growing pressure from consumers and investors to set environmental, social and governance (ESG) goals, and RNG can help. No other transportation fuel provides greater carbon and NOx reductions than our Redeem RNG, which can easily and economically be adopted by heavy-duty truck fleets.”
The Company delivered 103.3M gallons in the fourth quarter of 2019, a 5% increase from 98.7M in the fourth quarter of 2018. For the year ended December 31, 2019, the Company delivered 400.8M gallons, a 10% increase from 365.5M for the year ended December 31, 2018. These increases were principally Because of growth in CNG volumes and increased sales of Redeem.
The Company’s revenue for the year ended December 31, 2019 was $344.1M, a decrease of 0.7%, contrast to $346.4M for the year ended December 31, 2018. Revenue for 2019 included unrealized losses of $6.6M on commodity swap and consumer fueling contracts that support the Company’s Zero Now truck financing program, and $47.1M from AFTC. Revenue for 2018 included $26.7M from AFTC related to 2017 fuel volumes and an unrealized gain of $10.3M on commodity swap contracts that support the Company’s Zero Now truck financing program. Not Including the AFTC revenue of $47.1M and unrealized loss on commodity swap and consumer fueling contracts of $6.6M in 2019, and the AFTC revenue of $26.7M and unrealized gain of $10.3M on commodity swap contracts in 2018, revenue reduced 1.9% in 2019 contrast to the previous year, principally Because of lower station construction revenue and $7.5M of revenue in 2018 from the sale of used natural gas trucks, which did not recur in 2019. These decreases were partially offset by revenue associated with higher volumes. Station construction revenue was $23.1M in 2019 contrast to $25.5M in 2018.
On a GAAP (as defined below) basis, net income attributable to Clean Energy for the fourth quarter of 2019 was $41.1M, or $0.20 per diluted share, contrast to $6.9M, or $0.03 per diluted share, for the fourth quarter of 2018. The fourth quarter of 2019 was positively affected by AFTC revenue and negatively affected by the unrealized loss on commodity swap and consumer fueling contracts, while the comparable 2018 period was positively affected the unrealized gain on commodity swap contracts.
CLNE has a gross margin of 38.40% and an operating margin of 2.90% while its profit margin remained 5.90% for the last 12 months. Its earnings per share (EPS) expected to touch remained 572.50% for this year while earning per share for the next 5-years is expected to reach at 15.00%. The company has 221.72M of outstanding shares and 135.81M shares were floated in the market. According to the most recent quarter its current ratio was 1.8 that represents company’s ability to meet its current financial obligations. The price moved ahead of 6.77% from the mean of 20 days, 9.25% from mean of 50 days SMA and performed -6.94% from mean of 200 days price. Company’s performance for the week was -9.05%, 15.52% for month and YTD performance remained -14.10%.