Alternative fuel provider Clean Energy Fuels (NASDAQ:CLNE) will be reporting earnings this Thursday after the bell. Here’s what you need to know.
Clean Energy Fuels beat analysts’ revenue expectations last quarter, reporting revenues of $117.6 million, up 13.3% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and an impressive 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 grow 2.4% year on year, slowing from the 4.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Clean Energy Fuels rarely misses Wall Street’s revenue estimates.
Looking at Clean Energy Fuels’s peers in the mixed or offshore upstream e&p segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Vitesse Energy delivered year-on-year revenue growth of 11.3%, beating analysts’ expectations by 8.2%, and Kosmos Energy reported revenues up 54.6%, topping estimates by 28.4%. Vitesse Energy’s stock price was unchanged after the resultswhile Kosmos Energy was down 8.9%.
Read our full analysis of Vitesse Energy’s results here and Kosmos Energy’s results here.
There has been positive sentiment among investors in the mixed or offshore upstream e&p segment, with share prices up 6.7% on average over the last month. Clean Energy Fuels is down 11.6% during the same time and is heading into earnings with an average analyst price target of $4.84 (compared to the current share price of $1.88).
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