CLEAN ENERGY FUELS Reports Third Quarter FY2023 Earnings Results on November 9, 2023

☀️Earnings Overview

On November 9, 2023, CLEAN ENERGY FUELS ($NASDAQ:CLNE) released its financial results for the third quarter of Fiscal Year 2023. Total revenue for this period was USD 95.6 million, a 24.0% decrease from the same quarter in Fiscal Year 2022. Net income was also lower, with a reported USD -25.8 million, a decrease of -9.0 million from the same quarter in the prior year.

Price History

This news had investors wary of the future of the company, and led to a decrease in the stock’s value. The company’s focus on delivering sustainable solutions has allowed them to be a leader in the clean energy industry. In spite of the disappointing earnings report, CLEAN ENERGY FUELS is still committed to its mission of providing clean energy solutions that are reliable and cost-effective. The company remains confident in its ability to deliver a sustainable future, and continues to make strides in reducing carbon emissions and transitioning to renewable energy sources. In the coming quarters, CLEAN ENERGY FUELS will work to improve its financial performance by cutting costs and increasing efficiency in its operations.

The company is committed to providing its customers with solutions that are environmentally-friendly, cost-effective, and reliable. The third quarter FY2023 earnings report from CLEAN ENERGY FUELS was viewed as a disappointment to investors, however, the company is confident in its strategies for delivering sustainable solutions to its customers. As CLEAN ENERGY FUELS continues to seek out new ways to reduce emissions and transition to renewable energy sources, the company is optimistic for its future prospects. Live Quote…

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…

Analysis

At GoodWhale, we have analyzed CLEAN ENERGY FUELS’ fundamentals and have classified it as ‘rhino’ on our Star Chart. This indicates that CLEAN ENERGY FUELS has achieved moderate revenue or earnings growth. In terms of metrics, CLEAN ENERGY FUELS is strong in asset, medium in profitability and weak in dividend, growth. Additionally, its Health Score is 7/10, indicating that it is capable to safely ride out any crisis without the risk of bankruptcy. As such, we recommend CLEAN ENERGY FUELS to investors looking for a stable, moderate growth option. The company’s solid asset base and relatively low risk profile make it attractive to more conservative investors who are looking for a safe bet with steady returns. 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’ third quarter of Fiscal Year 2023 earnings report showed a decrease in total revenue of 24.0%, amounting to USD 95.6 million. Net income decreased as well, from -9.0 million to -25.8 million. This could be an indication of a slowing market in the energy sector, or it could be a temporary dip.

Investors should consider researching the company’s performance further in order to determine if this is an opportunity to invest in this company. Factors such as customer demand, competitive pressures, and industry trends should all be taken into consideration when making an investment decision.