Clean Energy Fuels Corp. (CLNE) Q3 2024 Earnings Call Transcript
Adjusted EBITDA $21.3 million for Q3 2024, up from $14.2 million in Q3 2023, reflecting strong performance in the underlying fuel business.
Revenue $105 million for Q3 2024, compared to $96 million in Q3 2023, driven by a higher mix of station fueling gallons, higher RIN credits, and increased service revenues.
RNG Volumes 60 million gallons sold in Q3 2024, compared to 56.7 million gallons in Q3 2023, a growth of 5.1%, with last year's figures including one-off deliveries.
Cash and Investments $243.5 million at the end of Q3 2024, reflecting a solid financial position despite a $30 million capital call in October.
Cash Flow from Operations $21.4 million for Q3 2024, up from $7.7 million in Q3 2023, indicating improved operational efficiency.
Average RIN Credit Price $3.35 in Q3 2024, up from $3.01 in Q3 2023, contributing to higher revenue from RIN credits.
Average LCFS Credit Price $55.67 in Q3 2024, down from $74.20 in Q3 2023, impacting overall revenue negatively.
Net GAAP Loss Lower net GAAP loss in Q3 2024 compared to previous quarters, attributed to improved RNG production and credit monetization.
RNG Production 2.8 million gallons annualized run rate in Q3 2024, with expectations to ramp up to 4-6 million gallons in 2025.
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Clean Energy Fuels Finishes Construction of Renewable Natural Gas Plant in Texas
- Company Announcement: Clean Energy Fuels (CLNE) has begun injecting renewable natural gas from its new facility.
- Focus on Sustainability: This initiative highlights the company's commitment to sustainable energy solutions.
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Grocery Outlet Holding Corp (GO): The stock rating increased from 40% to 70% based on its fundamentals and valuation, indicating growing interest according to Kenneth Fisher's investment strategy focused on low P/S ratios and strong profit growth.
Mayville Engineering Company Inc (MEC): Similar to Grocery Outlet, MEC's rating improved from 50% to 70%, reflecting positive changes in its underlying fundamentals and stock valuation within the Auto & Truck Parts industry.
Clean Energy Fuels Corp (CLNE): The rating for CLNE rose from 40% to 60%, suggesting a moderate level of interest based on its fundamentals and valuation in the Oil & Gas Operations sector.
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