CLEAN ENERGY FUELS Reports 24% Revenue Decrease in FY2023 Q3

☀️Earnings Overview

On November 9 2023, CLEAN ENERGY FUELS ($NASDAQ:CLNE) reported their financial results for the third quarter of fiscal year 2023, showing total revenue of $95.6 million, a decrease of 24.0% from the same quarter last year. Net income for the quarter increased to -$25.8 million, compared to -$9.0 million in the previous year.

Analysis

GoodWhale has conducted an analysis of Clean Energy Fuels’ wellbeing. The Star Chart shows that Clean Energy Fuels has a high health score of 7/10 based on its cashflows and debt, indicating that the company should be able to pay off debt and fund future operations. In conclusion, Clean Energy Fuels is classified as a ‘rhino’, meaning that it has achieved moderate revenue or earnings growth. Clean Energy Fuels’ strengths lie in its asset base. Its profitability is rated as medium, while its dividend and growth are considered weak. Investors looking for a long-term play may find Clean Energy Fuels attractive, as the company’s balance sheet is strong and could provide stability and sustainability in the long run. Those investing with short-term goals may look for more growth opportunities elsewhere. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for CLNE. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for CLNE. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for CLNE. More…

Key Ratios Snapshot

Some of the financial key ratios for CLNE are shown below. More…

Peers

The company’s competitors include United Strength Power Holdings Ltd, Shandong Shengli Co Ltd, and Australian Oil & Gas Corp.

– United Strength Power Holdings Ltd ($SEHK:02337)

United Strength Power Holdings Ltd is a power generation company with a market cap of 3.97B as of 2022. The company has a Return on Equity of 22.59%. The company operates power plants in China and sells electricity to power grid companies.

– Shandong Shengli Co Ltd ($SZSE:000407)

Shandong Shengli Co Ltd is a Chinese company that produces and sells chemical products. The company has a market capitalization of 3.76 billion as of 2022 and a return on equity of 5.36%. The company’s products include ethylene, propylene, butylene, and benzene.

– Australian Oil & Gas Corp ($OTCPK:AOGC)

AOG is an oil and gas company with a market capitalization of $356,040 as of 2022. The company’s return on equity is 1.03%. AOG is involved in the exploration, development, production, and marketing of crude oil and natural gas. The company has operations in Australia, the United States, and Canada.

Summary

Clean Energy Fuels reported its financial results for the third quarter of 2023, with total revenue decreasing by 24.0% year-over-year to USD 95.6 million. Although net income decreased to -25.8 million, this was still an improvement from the prior year’s figure of -9.0 million. Investors should examine the company’s forward guidance as well as its current financial position to determine if Clean Energy Fuels is a good investment opportunity. Investors should also consider the macroeconomic environment and overall market trends to assess the potential risk or reward of investing in Clean Energy Fuels.

Additionally, investors should monitor Clean Energy Fuels’ performance compared to its competitors to get an idea of how the company is performing relative to its peers.