Energy
Clean Energy Tries to Sell Non-Performance (CLNE)
Published:
Last Updated:
Clean Energy Fuels (NASDAQ:CLNE), T. Boone Pickens’s public alternative energy company for converting natural gas to auto fuel, reported preliminary third quarter results after the market closed yesterday. There was no good news. Analysts were estimating EPS of -$0.15, and Clean Energy reported a loss in the range of -$0.23 to -$0.26 per share, about eight times worse than the same period a year ago. Revenues will also miss estimates of $37.71 million.
The company announced a private placement of stock and warrants worthabout $35 million yesterday. That gave the stock a bump of nearly 3%yesterday, but it’s still trading much closer to 52-week lows. CleanEnergy will use the proceeds for "working capital and other generalcorporate purposes." That’s usually what companies use revenues andprofits for.
T. Boone Pickens also just gave a fairly somber interview this morning,and he said he was out of the market but thinks oil will go back up.
Paul Ausick
October 30, 2008
Retirement planning doesn’t have to feel overwhelming. The key is finding professional guidance—and we’ve made it easier than ever for you to connect with the right financial advisor for your unique needs.
Here’s how it works:
1️ Answer a Few Simple Questions
Tell us a bit about your goals and preferences—it only takes a few minutes!
2️ Get Your Top Advisor Matches
This tool matches you with qualified advisors who specialize in helping people like you achieve financial success.
3️ Choose Your Best Fit
Review their profiles, schedule an introductory meeting, and select the advisor who feels right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.