Clean Energy Reports 1Q Loss; Deliveries Rise
Clean Energy Fuels Corp. reported a first-quarter loss, but its revenue and natural-gas deliveries increased.
The company lost $28.6 million, or 30 cents per share in the quarter, compared to a loss of $3.9 million, or 3 cents per share, from the same quarter last year.
Revenue increased to $95.3 million from $93 million, and natural-gas deliveries rose 24% to 59.3 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.
“We believe our years of experience and leadership position in established markets like refuse and transit are positioning us extremely well to capitalize on the young, but significant opportunity in the heavy-duty truck market. Opening stations and adding incremental volume to existing stations are top priorities for our company,” CEO Andrew Littlefair said in a statement.
In recent months, Clean Energy has opened a public-access station at John F. Kennedy International Airport in New York, and stations in Amarillo, Texas, and Oklahoma City for UPS Inc.
