Clean Energy Fuels Corp. (NASDAQ: CLNE) (“Clean Energy” or the
“Company”) today announced its operating results for the fourth
quarter of 2019.
Andrew J. Littlefair, Clean Energy’s President and Chief
Executive Officer, stated “Our volume continues to grow at a good
pace with a 10% increase for the year over 2018 as we exceeded the
100 million gallon mark in the fourth quarter for the second
consecutive quarter. Our financial position dramatically improved
in the quarter, lifted nicely by $47.1 million in Alternative Fuels
Tax Credit revenue, positioning us well going into 2020. We also
have great momentum going into 2020 with increasing attention on
renewable natural gas (RNG), on clean air heavy duty trucks, and
particularly heavy-duty trucks running on our Redeem renewable RNG
fuel. We believe the market’s increasing demand for Redeem
positions us well for continued growth as an increasing number of
customers are turning to RNG to meet sustainability goals. These
customers are under growing pressure from customers and investors
to set environmental, social and governance (ESG) goals, and RNG
can help. No other transportation fuel provides greater carbon and
NOx reductions than our Redeem RNG, which can easily and
economically be adopted by heavy-duty truck fleets."
The Company delivered 103.3 million gallons in the fourth
quarter of 2019, a 5% increase from 98.7 million in the fourth
quarter of 2018. For the year ended December 31, 2019, the Company
delivered 400.8 million gallons, a 10% increase from 365.5 million
for the year ended December 31, 2018. These increases were
principally due to growth in CNG volumes and increased sales of
Redeem.
The Company’s revenue for the fourth quarter of 2019 was $119.6
million, an increase of 24.3%, compared to $96.2 million for the
fourth quarter of 2018. Revenue for the fourth quarter of 2019
included an unrealized loss of $3.3 million on commodity swap and
customer fueling contracts that support the Company’s Zero Now
truck financing program, and $47.1 million from U.S. federal excise
tax credits for alternative fuels ("AFTC"). The AFTC applied to
vehicle fuel sales made from January 1, 2018 through December 31,
2019. Revenue for the fourth quarter of 2018 included an unrealized
gain of $10.3 million on commodity swap contracts that support the
Company’s Zero Now truck financing program. Excluding the AFTC
revenue of $47.1 million and unrealized loss on commodity swap and
customer fueling contracts of $3.3 million in the 2019 period, and
the unrealized gain of $10.3 million on commodity swap contracts in
the 2018 period, revenue decreased 11.8% for the fourth quarter of
2019 compared to the prior year period principally due to lower
effective fuel prices caused by lower natural gas prices and fuel
price mix based on the variation of fuel types and geographies
where we deliver fuel gallons. The lower effective fuel price was
partially offset by revenue associated with higher volumes and
higher station construction revenue. Station construction revenue
was $7.6 million for the fourth quarter of 2019 compared to $4.6
million in the comparable 2018 period. Additionally, the 2018
period included $2.8 million in revenue from the sale of used
natural gas trucks, which did not recur in the comparable 2019
period.
The Company’s revenue for the year ended December 31, 2019 was
$344.1 million, a decrease of 0.7%, compared to $346.4 million for
the year ended December 31, 2018. Revenue for 2019 included
unrealized losses of $6.6 million on commodity swap and customer
fueling contracts that support the Company’s Zero Now truck
financing program, and $47.1 million from AFTC. Revenue for 2018
included $26.7 million from AFTC related to 2017 fuel volumes and
an unrealized gain of $10.3 million on commodity swap contracts
that support the Company’s Zero Now truck financing program.
Excluding the AFTC revenue of $47.1 million and unrealized loss on
commodity swap and customer fueling contracts of $6.6 million in
2019, and the AFTC revenue of $26.7 million and unrealized gain of
$10.3 million on commodity swap contracts in 2018, revenue
decreased 1.9% in 2019 compared to the prior year, principally due
to lower station construction revenue and $7.5 million of revenue
in 2018 from the sale of used natural gas trucks, which did not
recur in 2019. These decreases were partially offset by revenue
associated with higher volumes. Station construction revenue was
$23.1 million in 2019 compared to $25.5 million in 2018.
On a GAAP (as defined below) basis, net income attributable to
Clean Energy for the fourth quarter of 2019 was $41.1 million, or
$0.20 per diluted share, compared to $6.9 million, or $0.03 per
diluted share, for the fourth quarter of 2018. The fourth quarter
of 2019 was positively affected by AFTC revenue and negatively
affected by the unrealized loss on commodity swap and customer
fueling contracts, while the comparable 2018 period was positively
affected the unrealized gain on commodity swap contracts.
On a GAAP basis, net income (loss) attributable to Clean Energy
for the year ended December 31, 2019 was $20.4 million, or $0.10
per diluted share, compared to $(3.8) million, or $(0.02) per
share, for the year ended December 31, 2018. The year ended
December 31, 2019 was positively affected by AFTC revenue and
negatively affected by the unrealized losses on commodity swap and
customer fueling contracts, while 2018 was positively affected by
AFTC revenue and the unrealized gain on commodity swap
contracts.
Non-GAAP income per share and Adjusted EBITDA (each as defined
below) for the fourth quarter of 2019 was $0.21 and $57.0 million,
respectively. Non-GAAP loss per share and Adjusted EBITDA for the
fourth quarter of 2018 was $(0.01) and $12.7 million,
respectively.
Non-GAAP income per share and Adjusted EBITDA for the year ended
December 31, 2019 was $0.15 and $85.6 million, respectively.
Non-GAAP loss per share and Adjusted EBITDA for the year ended
December 31, 2018 was $(0.03) and $59.7 million, respectively.
Non-GAAP income (loss) per share and Adjusted EBITDA are
described below and reconciled to GAAP net income (loss) per share
attributable to Clean Energy and GAAP net income (loss)
attributable to Clean Energy, respectively.
Non-GAAP Financial Measures
To supplement the Company’s unaudited condensed consolidated
financial statements presented in accordance with accounting
principles generally accepted in the United States of America
(“GAAP”), the Company uses non-GAAP financial measures that it
calls non-GAAP income (loss) per share (“non-GAAP income (loss) per
share”) and adjusted EBITDA (“Adjusted EBITDA”). Management
presents non-GAAP income (loss) per share and Adjusted EBITDA
because it believes these measures provide meaningful supplemental
information about the Company’s performance, for the following
reasons: (1) these measures allow for greater transparency with
respect to key metrics used by management to assess the Company’s
operating performance and make financial and operational decisions;
(2) these measures exclude the effect of items that management
believes are not directly attributable to the Company’s core
operating performance and may obscure trends in the business; and
(3) these measures are used by institutional investors and the
analyst community to help analyze the Company’s business. In future
quarters, the Company may make adjustments for other expenditures,
charges or gains to present non-GAAP financial measures that the
Company’s management believes are indicative of the Company’s core
operating performance.
Non-GAAP financial measures are limited as an analytical tool
and should not be considered in isolation from, or as a substitute
for, the Company’s GAAP results. The Company expects to continue
reporting non-GAAP financial measures, adjusting for the items
described below (and/or other items that may arise in the future as
the Company’s management deems appropriate), and the Company
expects to continue to incur expenses, charges or gains similar to
the non-GAAP adjustments described below. Accordingly, unless
expressly stated otherwise, the exclusion of these and other
similar items in the presentation of non-GAAP financial measures
should not be construed as an inference that these costs are
unusual, infrequent or non-recurring. Non-GAAP income (loss) per
share and Adjusted EBITDA are not recognized terms under GAAP and
do not purport to be an alternative to GAAP income (loss), GAAP
income (loss) per share or any other GAAP measure as an indicator
of operating performance. Moreover, because not all companies use
identical measures and calculations, the Company’s presentation of
non-GAAP income (loss) per share and Adjusted EBITDA may not be
comparable to other similarly titled measures used by other
companies.
Non-GAAP Income (Loss) Per Share
Non-GAAP income (loss) per share, which the Company presents as
a non-GAAP measure of its performance, is defined as net income
(loss) attributable to Clean Energy Fuels Corp., plus stock-based
compensation expense, plus (minus) loss (income) from equity method
investments, and plus (minus) any loss (gain) from changes in the
fair value of derivative instruments, the total of which is divided
by the Company’s weighted-average common shares outstanding on a
diluted basis. The Company’s management believes excluding non-cash
expenses related to stock-based compensation provides useful
information to investors regarding the Company’s performance
because of the varying available valuation methodologies, the
volatility of the expense (which depends on market forces outside
of management’s control), the subjectivity of the assumptions and
the variety of award types that a company can use, which may
obscure trends in a company’s core operating performance.
Similarly, the Company believes excluding the non-cash results from
equity method investments is useful to investors because these
charges are not part of or representative of the core operations of
the Company. In addition, the Company’s management believes
excluding the non-cash loss (gain) from changes in the fair value
of derivative instruments is useful to investors because the
valuation of the derivative instruments is based on a number of
subjective assumptions, the amount of the loss or gain is derived
from market forces outside of management’s control, and the
exclusion of these amounts enables investors to compare the
Company’s performance with other companies that do not use, or use
different forms of, derivative instruments.
The table below shows GAAP and non-GAAP income (loss) per share
and also reconciles GAAP net income (loss) attributable to Clean
Energy to an adjusted net income (loss) figure used in the
calculation of non-GAAP income (loss) per share:
Three Months Ended
Year Ended
December 31,
December 31,
(in thousands, except share and per
share data)
2018
2019
2018
2019
Net income (loss) attributable to Clean
Energy Fuels Corp.
$
6,862
$
41,084
$
(3,790
)
$
20,421
Stock-based compensation
995
824
5,307
3,880
Loss (income) from equity method
investments
(16
)
(4
)
2,723
119
Loss (gain) from change in fair value of
derivative instruments
(9,687
)
691
(9,788
)
5,545
Adjusted (non-GAAP) net income (loss)
$
(1,846
)
$
42,595
$
(5,548
)
$
29,965
Diluted weighted-average common shares
outstanding
204,885,844
205,852,492
180,655,435
205,987,509
GAAP income (loss) per share
$
0.03
$
0.20
$
(0.02
)
$
0.10
Non-GAAP income (loss) per share
$
(0.01
)
$
0.21
$
(0.03
)
$
0.15
Adjusted EBITDA
Adjusted EBITDA, which the Company presents as a non-GAAP
measure of its performance, is defined as net income (loss)
attributable to Clean Energy, plus (minus) income tax expense
(benefit), plus interest expense, minus interest income, plus
depreciation and amortization expense, plus stock-based
compensation expense, plus (minus) loss (income) from equity method
investments, and plus (minus) any loss (gain) from changes in the
fair value of derivative instruments. The Company’s management
believes Adjusted EBITDA provides useful information to investors
regarding the Company’s performance for the same reasons discussed
above with respect to non-GAAP income (loss) per share. In
addition, management internally uses Adjusted EBITDA to determine
elements of executive and employee compensation.
The table below shows Adjusted EBITDA and also reconciles this
figure to GAAP net income (loss) attributable to Clean Energy:
Three Months Ended
Year Ended
December 31,
December 31,
(in thousands, except share and per
share data)
2018
2019
2018
2019
Net income (loss) attributable to Clean
Energy Fuels Corp.
$
6,862
$
41,084
$
(3,790
)
$
20,421
Income tax expense (benefit)
75
664
341
858
Interest expense
2,798
2,137
15,924
7,574
Interest income
(664
)
(730
)
(2,857
)
(2,437
)
Depreciation and amortization
12,354
12,294
51,850
49,625
Stock-based compensation
995
824
5,307
3,880
Loss (income) from equity method
investments
(16
)
(4
)
2,723
119
Loss (gain) from change in fair value of
derivative instruments
(9,687
)
691
(9,788
)
5,545
Adjusted EBITDA
$
12,717
$
56,960
$
59,710
$
85,585
Definition of “Gallons Delivered”
The Company defines “gallons delivered” as its gallons sold as
compressed natural gas (“CNG”) and liquefied natural gas (“LNG”),
along with its gallons associated with providing operations and
maintenance services, in each case delivered to its customers in
the applicable period, plus the Company’s proportionate share of
gallons delivered by joint ventures in the applicable period. RNG
sold as vehicle fuel, is sold under the brand name Redeem™ and is
included in the CNG or LNG amounts as applicable based on the form
in which it was sold.
The table below shows gallons delivered for the three months and
years ended December 31, 2018 and 2019:
Three Months Ended
Year Ended
December 31,
December 31,
Gallons Delivered (in millions)
2018
2019
2018
2019
CNG
79.5
87.3
299.5
335.7
LNG
19.2
16.0
66.0
65.1
Total
98.7
103.3
365.5
400.8
Sources of Revenue
The following table shows the Company's sources of revenue for
the three months and years ended December 31, 2018 and 2019:
Three Months Ended
Year Ended
December 31
December 31
Revenue (in millions)
2018
2019
2018
2019
Volume-related (1)
$
88.9
$
64.9
$
286.7
$
273.6
Station construction sales
4.6
7.6
25.5
23.1
AFTC
—
47.1
26.7
47.1
Other (2)
2.7
—
7.5
0.3
Total revenue
$
96.2
$
119.6
$
346.4
$
344.1
(1) For the three months and year ended December 31, 2019,
volume-related revenue includes an unrealized loss from the change
in fair value of commodity swap and customer fueling contracts of
$(3.3) million and $(6.6) million, respectively. For the three
months and year ended December 31, 2018, volume-related revenue
includes an unrealized gain from the change in fair value of
commodity swap contracts of $10.3 million. (2) For the three months
and year ended December 31, 2018, other revenue was comprised of
sales of used natural gas heavy-duty trucks the Company purchased
in 2017 and 2018.
2020 Outlook
GAAP net income (loss) for 2020 is expected to be approximately
breakeven, assuming no unrealized gains or losses on commodity swap
and customer contracts. Changes in diesel and natural gas market
conditions resulting in unrealized gains or losses on the Company’s
commodity swap contracts could significantly impact the Company’s
estimated GAAP net income for 2020. Adjusted EBITDA for 2020 is
expected to be approximately $56.0 million. These expectations also
exclude the impact of any acquisitions, divestitures or other
extraordinary events or transactions that may occur in 2020.
Additionally, the expectations regarding 2020 Adjusted EBITDA
assume the calculation of this non-GAAP financial measure in the
same manner as described above and without adjustments for any
other items that may arise during 2020 and that management deems
appropriate to exclude. These expectations are forward-looking
statements and are qualified by the statement under “Safe Harbor
Statement” below.
(in thousands)
2020 Outlook
GAAP Net income (loss) attributable to
Clean Energy Fuels Corp.
$
Breakeven
Income tax expense (benefit)
—
Interest expense
5,500
Interest income
(2,000
)
Depreciation and amortization
48,500
Stock-based compensation
4,000
Loss (income) from equity method
investments
—
Loss (gain) from change in fair value of
derivative instruments
—
Adjusted EBITDA
$
56,000
Today’s Conference Call
The Company will host an investor conference call today at 4:30
p.m. Eastern time (1:30 p.m. Pacific). Investors interested in
participating in the live call can dial 1.877.407.4018 from the
U.S. and international callers can dial 1.201.689.8471. A telephone
replay will be available approximately two hours after the call
concludes through Friday, April 10, 2020, by dialing 1.844.512.2921
from the U.S., or 1.412.317.6671 from international locations, and
entering Replay Pin Number 13698886. There also will be a
simultaneous, live webcast available on the Investor Relations
section of the Company’s web site at www.cleanenergyfuels.com,
which will be available for replay for 30 days.
About Clean Energy
Clean Energy Fuels Corp. is North America’s leading provider of
the cleanest fuel for the transportation market. Through its sales
of Redeem™ renewable natural gas (RNG), which is derived from
biogenic methane produced by the breakdown of organic waste, Clean
Energy helps thousands of vehicles, from airport shuttles to city
buses to waste and heavy-duty trucks, to reduce their amount of
climate-harming greenhouse gas by at least 70% and up to 300%
depending on the RNG feedstock. Clean Energy can deliver Redeem
through compressed natural gas (CNG) and liquefied natural gas
(LNG) to its network of approximately 550 fueling stations across
the U.S. and Canada. Clean Energy builds and operates CNG and LNG
fueling stations for the transportation market, owns natural gas
liquefaction facilities in California and Texas, and transports
bulk CNG and LNG to non-transportation customers around the U.S.
For more information, visit www.CleanEnergyFuels.com.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including statements about, among other things, the
Company’s continued volume growth and the reasons for this growth,
including the Company’s belief in the continued acceptance of
Redeem renewable fuel, the importance of renewables and renewable
energy to the Company's customers and prospective customers, and
the significance of renewables and renewable energy in achieving
global environmental initiatives and executing the Company's
strategies, the Company's expectations regarding the state of the
natural gas vehicle fuels market, including the level of adoption
of natural gas vehicle fuels generally, and specifically in the
trucking sector and with respect to renewable natural gas, and the
effect, if any, of the foregoing on the Company’s performance,
financial condition and ability to execute its strategic
initiatives.
Forward-looking statements are statements other than historical
facts and relate to future events or circumstances or the Company’s
future performance, and they are based on the Company’s current
assumptions, expectations and beliefs concerning future
developments and their potential effect on the Company and its
business. As a result, actual results, performance or achievements
and the timing of events could differ materially from those
anticipated in or implied by these forward-looking statements as a
result of many factors including, among others: the Company’s
history of net losses and the possibility the Company incurs
additional net losses in the future; the willingness of fleets and
other consumers to adopt natural gas as a vehicle fuel, and the
rate and level of any such adoption; future supply, demand, use and
prices of crude oil, gasoline, diesel, natural gas, and other
vehicle fuels, including overall levels of and volatility in these
factors; natural gas vehicle and engine cost, fuel usage,
availability, quality, safety, convenience, design, performance and
residual value, as well as operator perception with respect to
these factors, in general and in the Company’s key customer
markets, including heavy-duty trucking; the Company’s ability to
execute its Zero Now truck financing program, a key strategic
initiative related to the market for natural gas heavy-duty trucks,
and the effect of this initiative on the Company’s business,
prospects, performance and liquidity; the Company’s ability to
capture a substantial share of the market for alternative vehicle
fuels and vehicle fuels generally and otherwise compete
successfully in these markets, including in the event of
improvements in or perceived advantages of non-natural gas vehicle
fuels or engines powered by these fuels or other competitive
developments; the availability of environmental, tax and other
government regulations, programs and incentives that promote
natural gas, such as AFTC, or other alternatives as a vehicle fuel,
including long-standing support for gasoline- and diesel-powered
vehicles and growing support for electric and hydrogen-powered
vehicles that could result in programs or incentives that favor
these or other vehicles or vehicle fuels over natural gas; future
availability of capital, which may include equity or debt
financing, in the amounts and at the times needed to fund any
growth in the Company’s business and the repayment of its debt
obligations (whether at or before their due dates) or other
expenditures, as well as the terms and other effects of any such
capital-raising transaction; the effect of, or potential for
changes to greenhouse gas emissions requirements or other
environmental regulations applicable to vehicles powered by
gasoline, diesel, natural gas or other vehicle fuels and crude oil
and natural gas fueling, drilling, production, transportation or
use; the Company’s ability to manage and grow its RNG business,
including its ability to continue to receive revenue from sales of
tradable credits the Company generates by selling conventional and
renewable natural gas as vehicle fuel and the effect of any
increase in competition for RNG supply; the Company’s ability to
manage and grow its business of transporting and selling CNG for
non-vehicle purposes via virtual natural gas pipelines and
interconnects; the Company’s ability to accurately predict natural
gas vehicle fuel demand in the geographic and customer markets in
which it operates and effectively calibrate its strategies, timing
and levels of investments to be consistent with this demand; the
Company’s ability to recognize the anticipated benefits of its CNG
and LNG fueling station network; construction, permitting and other
factors that could cause delays or other problems at station
construction projects; the Company’s ability to manage the safety
and environmental risks inherent in its operations; the Company’s
compliance with all applicable government regulations; the
Company’s ability to execute and realize the intended benefits of
any acquisitions, divestitures, investments or other strategic
relationships or transactions; and general political, regulatory,
economic and market conditions.
The forward-looking statements made in this press release speak
only as of the date of this press release and the Company
undertakes no obligation to update publicly such forward-looking
statements to reflect subsequent events or circumstances, except as
otherwise required by law. The Company’s periodic reports filed
with the Securities and Exchange Commission (www.sec.gov),
including its Annual Report on Form 10-K filed on March 10, 2020,
contain additional information about these and other risk factors
that may cause actual results to differ materially from the
forward-looking statements contained in this press release, and
such risk factors may be amended, supplemented or superseded from
time to time by other reports the Company files with the Securities
and Exchange Commission.
Clean Energy Fuels Corp. and
Subsidiaries
Consolidated Balance
Sheets
(In thousands, except share
and per share data)
December 31,
December 31,
2018
2019
Assets
Current assets:
Cash, cash equivalents and current portion
of restricted cash
$
30,624
$
49,222
Short-term investments
65,646
56,929
Accounts receivable, net of allowance for
doubtful accounts of $1,919 and $2,412 as of December 31, 2018 and
2019, respectively
68,865
61,760
Other receivables
15,544
84,898
Inventory
34,975
29,874
Prepaid expenses and other current
assets
8,444
11,109
Derivative assets, related party
1,508
—
Total current assets
225,606
293,792
Operating lease right-of-use assets
—
28,627
Land, property and equipment, net
350,568
323,912
Long-term portion of restricted cash
4,000
4,000
Notes receivable and other long-term
assets, net
17,470
31,622
Long-term portion of derivative assets,
related party
8,824
3,270
Investments in other entities
26,079
26,305
Goodwill
64,328
64,328
Intangible assets, net
2,207
1,229
Total assets
$
699,082
$
777,085
Liabilities and Stockholders'
Equity
Current liabilities:
Current portion of debt
$
4,712
$
56,013
Current portion of finance lease
obligations
693
615
Current portion of operating lease
obligations
—
3,359
Accounts payable
19,024
27,376
Accrued liabilities
48,469
67,697
Deferred revenue
7,361
7,338
Derivative liabilities, related party
—
164
Total current liabilities
80,259
162,562
Long-term portion of debt
75,003
32,872
Long-term portion of finance lease
obligations
3,776
2,715
Long-term portion of operating lease
obligations
—
26,206
Other long-term liabilities
15,035
9,701
Total liabilities
174,073
234,056
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.0001 par value.
1,000,000 shares authorized; no shares issued and outstanding
—
—
Common stock, $0.0001 par value.
304,000,000 shares authorized; 203,599,892 shares and 204,723,055
shares issued and outstanding as of December 31, 2018 and 2019,
respectively
20
20
Additional paid-in capital
1,198,769
1,203,186
Accumulated deficit
(688,653
)
(668,232
)
Accumulated other comprehensive loss
(2,138
)
(1,566
)
Total Clean Energy Fuels Corp.
stockholders’ equity
507,998
533,408
Noncontrolling interest in subsidiary
17,011
9,621
Total stockholders’ equity
525,009
543,029
Total liabilities and stockholders’
equity
$
699,082
$
777,085
Clean Energy Fuels Corp. and
Subsidiaries
Consolidated Statements of
Operations
(In thousands, except share
and per share data)
Three Months Ended December
31,
Year Ended December
31,
2018
2019
2018
2019
Revenue:
Product revenue
$
87,027
$
107,522
$
307,839
$
298,469
Service revenue
9,202
12,093
38,580
45,596
Total revenue
96,229
119,615
346,419
344,065
Operating expenses:
Cost of sales (exclusive of depreciation
and amortization shown separately below):
Product cost of sales
54,851
47,861
194,509
185,557
Service cost of sales
4,820
7,876
18,415
26,550
Change in fair value of derivative
warrants
644
(2,626
)
543
(1,039
)
Selling, general and administrative
20,005
19,437
77,207
73,444
Depreciation and amortization
12,354
12,294
51,850
49,625
Total operating expenses
92,674
84,842
342,524
334,137
Operating income
3,555
34,773
3,895
9,928
Interest expense
(2,798
)
(2,137
)
(15,924
)
(7,574
)
Interest income
664
730
2,857
2,437
Other income (expense), net
(440
)
(938
)
(566
)
1,990
Income (loss) from equity method
investments
16
4
(2,723
)
(119
)
Gain from sale of certain assets of
subsidiary
4,782
7,455
4,782
7,455
Loss from formation of equity method
investment
—
—
(1,163
)
—
Income (loss) before income taxes
5,779
39,887
(8,842
)
14,117
Income tax benefit (expense)
(75
)
(664
)
(341
)
(858
)
Net income (loss)
5,704
39,223
(9,183
)
13,259
Loss attributable to noncontrolling
interest
1,158
1,861
5,393
7,162
Net income (loss) attributable to Clean
Energy Fuels Corp.
$
6,862
$
41,084
$
(3,790
)
$
20,421
Income (loss) per share:
Basic
$
0.03
$
0.20
$
(0.02
)
$
0.10
Diluted
$
0.03
$
0.20
$
(0.02
)
$
0.10
Weighted-average common shares
outstanding:
Basic
203,529,685
204,722,556
180,655,435
204,573,287
Diluted
204,885,844
205,852,492
180,655,435
205,987,509
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200310005900/en/
Investor Contact: investors@cleanenergyfuels.com
News Media Contact: Raleigh Gerber Manager of Corporate
Communications 949.437.1397
Clean Energy Fuels (NASDAQ:CLNE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Clean Energy Fuels (NASDAQ:CLNE)
Historical Stock Chart
From Jul 2023 to Jul 2024