Clean Energy Fuels Corp. (CLNE) Earnings
Clean Energy Fuels Corp. is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $-0.01. CLNE has beaten EPS estimates in 5 of its last 12 reported quarters (average surprise -77.2% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-0.02 | $-0.01 | +50.0% | $118M | +14.6% |
| Feb 24, 2026 | $-0.03 | $-0.19 | -549.6% | $112M | +11.6% |
| Aug 7, 2025 | $-0.07 | $-0.01 | +85.7% | $103M | +1.7% |
| May 8, 2025 | $-0.20 | $0.01 | +105.0% | $104M | +9.0% |
| May 9, 2024 | $-0.01 | $-0.01 | -77.0% | $102M | +2.5% |
| Feb 27, 2024 | $0.00 | $0.01 | +350.5% | $107M | +1.2% |
| Nov 9, 2023 | $-0.06 | $-0.12 | -100.0% | $96M | -7.7% |
| Feb 28, 2023 | $0.01 | $0.01 | +12.5% | $114M | -7.9% |
| Aug 4, 2022 | $-0.03 | $-0.06 | -100.0% | $97M | -5.4% |
| May 5, 2022 | $-0.01 | $-0.05 | -233.3% | $83M | -9.8% |
| Feb 24, 2022 | $0.04 | $0.03 | -14.6% | $92M | -0.3% |
| Nov 4, 2021 | $0.01 | $0.01 | -14.6% | $86M | +0.8% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Clay Corbis, President and CEO, focused on growth, execution, operating discipline, and leveraging assets. • Mentioned conflict with Iran caused crude oil price rise, making natural gas a better alternative. • Downstream business: Transit, refuse, and trucking segments discussed. • Upstream RNG production: Projects in operation and under construction, winter weather impacted production but expected improvement. • Positive regulatory milestone with CARB approval for Del Rio Dairy project. • Recognized Andy Littlefair's contributions. • CFO Bob Breland discussed financials, revenue increase, adjusted EBITDA, SG&A expenses, and Amazon warrant charge change.
Guidance
• Believes will come off first quarter RNG volumes by a few million gallons but confident in achieving annual guidance of 250 million gallons or more. • Lower base fuel margins anticipated in 2026 outlook, SG&A expenses lowered in first quarter. • Commented on full year dynamics with higher prices and stable costs offsetting some margin issues. • Mentioned unique opportunities in Q1 that may not be repeated, so not multiplying Q1 result by four for full year.
Segment performance
Downstream business: Core markets' performance remained steady. Transit and refuse sectors were consistent contributors with longstanding customer relationships. Trucking: Heavy-duty trucking is a large growth opportunity with Class 8 trucks using Cummins X15N engine. Upstream RNG production: 8 projects operating, 3 under construction. First quarter delivered 67 million gallons of RNG, generated 16.6 million of adjusted EBITDA, ended with 126 million cash on balance sheet. Revenue for the quarter was $117.6 million compared to $103.8 million last year. Gap net loss was 12 million for the first quarter of 2026, adjusted EBITDA was $16.6 million compared to $17.1 million a year ago.
Risks & headwinds
• Forward-looking statements involve risks, uncertainties, and assumptions difficult to predict. • Factors causing actual results to differ materially from forward-looking statements described in risk factors section of Form 10-Q. • Projects in RNG production took longer to develop and ramp up than initially expected and faced operational challenges.
Analyst Q&A
Q: Eric Stein asked about X-15N adoption and market impact.
A: Clay Corbis discussed TCO, adoption being a long sales cycle, and dip-toe-in approach.
Q: Eric Stein asked about base fuel margins.
A: Bob Breland said comment was on full year, margins impacted by various reasons but offset by other factors.
Q: Rob Brown asked about R&G volume from third parties and CARB pathway.
A: Clay Corbis explained Q1 volume compared to easy comp in 2025 and CARB pathway doubling LCF credits.
Q: Matthew Blair asked about demand from outside network and fuel distribution guide.
A: Clay Corbis explained distribution model and guidance on Q1 result not being multiplied for full year.
Q: Betty Zhang asked about Amazon relationship and warrant charge change.
A: Clay Corbis said not to comment specifically on Amazon, Bob Breland said warrant charge change was contractually based