Alternative fuel provider Clean Energy Fuels (NASDAQ:CLNE) will be reporting earnings this Thursday afternoon. Here’s what investors should know.
Clean Energy Fuels beat analysts’ revenue expectations last quarter, reporting revenues of $112.3 million, up 2.7% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is Clean Energy Fuels a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Clean Energy Fuels’s revenue to decline 4.4% year on year, a deceleration from its flat revenue in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Clean Energy Fuels has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Clean Energy Fuels’s peers in the mixed or offshore upstream e&p segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Solaris Energy Infrastructure delivered year-on-year revenue growth of 55.3%, beating analysts’ expectations by 6.8%, and Gulfport Energy reported revenues up 122%, topping estimates by 6.4%. Solaris Energy Infrastructure traded up 5.4% following the results.
Read our full analysis of Solaris Energy Infrastructure’s results here and Gulfport Energy’s results here.
There has been positive sentiment among investors in the mixed or offshore upstream e&p segment, with share prices up 5.2% on average over the last month. Clean Energy Fuels is down 4.3% during the same time and is heading into earnings with an average analyst price target of $4.75 (compared to the current share price of $2.37).
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