Clean Energy Posts 2Q Loss; Revenue, Natural-Gas Deliveries Increase
Clean Energy Fuels Corp. reported a second-quarter loss, but its revenue rose 26% while natural-gas deliveries increased 8%.
The company lost $11.9 million in the quarter, a slightly larger loss than the $11.3 million recorded a year ago. Per-share, the loss was 13 cents in both periods.
Revenue rose to $88.1 million from $69.8 million, while natural-gas deliveries rose to 52.6 million gallons.
Clean Energy is building what it calls “America’s Natural Gas Highway,” a series of liquefied natural gas fueling stations for longhaul trucking.
Clean Energy and Westport Innovations announced a joint program in March aimed at boosting adoption of LNG-fueled vehicles among trucking companies.
CEO Andrew Littlefair said he was “very encouraged by the significant development that has taken place over the first half of the year in both our core markets as well as in the longhaul trucking market’s transition to natural gas.
“The 12-liter natural gas engines have been well-received by the early adopters, and shippers are now starting to request that their contract carriers make the switch to natural gas,” he said in a statement.
