Clean Energy Q4 Revenue Exceeds Expectations at $112.32M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 24 2026
0mins
Should l Buy CLNE?
Reports Q4 revenue $112.32M, consensus $101.02M. "Considering the rather volatile market, especially in the transportation sector, we are very pleased to end 2025 in a strong position with our operating results coming in slightly better than expected. This is a testament to Clean Energy's leadership position in the alternative fuel space and the product that we offer - RNG - being seen as the most viable, affordable, and ready-now clean fuel solution for fleets. 2025 saw significant retreats by other alternative solutions, but the number of transit buses, refuse trucks and heavy-duty trucks operating on RNG all grew throughout the year, resulting in the increase in our gallons sold. We were able to prudently deleverage our strong balance sheet using available cash and investments, positioning us well going into 2026. These strong results and an optimistic outlook are due to the talented team at Clean Energy and their dedication to providing a cleaner way forward in the heavy-duty vehicle market."
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Analyst Views on CLNE
Wall Street analysts forecast CLNE stock price to rise
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 2.580
Low
4.00
Averages
4.00
High
4.00
Current: 2.580
Low
4.00
Averages
4.00
High
4.00
About CLNE
Clean Energy Fuels Corp. is a renewable energy company. The Company is engaged in the business of selling renewable and conventional natural gas as alternative fuels for vehicle fleets and related fueling solutions to its customers, primarily in the United States (U.S.) and Canada. Its principal business is supplying renewable natural gas (RNG) and conventional natural gas, in the form of compressed natural gas (CNG) and liquefied natural gas (LNG), for medium and heavy-duty vehicles and providing operation and maintenance (O&M) services to public and private vehicle fleet customer stations. The Company is also focused on developing, owning, and operating dairy and other livestock waste RNG projects and supplying RNG (procured from third party sources and from its anaerobic digester gas RNG joint venture project with TotalEnergies S.E.) to its customers in the heavy and medium-duty commercial transportation sector.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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- Infrastructure Upgrades: Recology is upgrading its fueling station in Seattle and has completed a new site, with Clean Energy providing operations and maintenance services to support growth in the greater Seattle area, further solidifying its market position in the waste management sector.
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See More
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- Waste Management Collaboration: The long-term partnership with Recology is strengthened as Clean Energy upgrades fueling stations in Seattle and provides operations and maintenance services, supporting growth in the greater Seattle area and solidifying its market position in waste management.
- Public Transit Support: The Washington Metropolitan Area Transit Authority has awarded Clean Energy a new contract to supply five million gallons of natural gas for over 400 buses, reflecting Clean Energy's ongoing influence in the public transportation sector.
- New Market Development: Clean Energy will supply approximately 750,000 gallons of RNG annually to 78 Arlington Transit buses in Virginia, aiding the city in achieving its greenhouse gas emissions reduction goals and showcasing its expansion potential in new markets.
See More
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- Significant Project Progress: The South Fork Dairy RNG project has successfully come online, becoming the largest operating project in the company's portfolio, marking a crucial milestone in RNG production, while the East Valley Dairy project has commenced gas injection, further driving growth.
- Optimistic Financial Outlook: The company expects revenues for 2026 to range from $420 million to $440 million, with a GAAP net loss projected between $71 million and $66 million, and adjusted EBITDA anticipated between $70 million and $75 million, reflecting confidence in future financial improvements.
- Cost Control Strategy: Although SG&A expenses rose by approximately $4 million in Q4 due to one-off costs, they are expected to decrease by 10% in 2026, as the company continues to focus on cost control and operational efficiency to navigate market competition and policy changes.
See More
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See More
