Energy
Pickens & Pelosi: Clean Energy Does Better Than Expected (CLNE)
Published:
Last Updated:
Clean Energy Fuels Corp. (NASDAQ:CLNE) reported a quarterly EPS loss of -$0.09, excluding certain items, beating analysts’ estimates of a loss of -$0.37. Revenue was essentially flat with the fourth quarter of 2007 at $29.6 million, compared with estimates of $34.51 million.
The company, founded by T. Boone Pickens who is still the largest shareholder, sold 18.7 million gasoline gallon equivalents of compressed and liquid natural gas in the fourth quarter, compared with 18.2 million gallons in the same period in 2007. The company’s president and CEO noted that he expects to see “demand increasing for natural gas as a vehicle fuel” as environmental concerns become more of a focus in the US. The company also sees lower emissions standards for diesel fuel, which become effective next year, contributing to growth.
The stock closed off about 8% yesterday, before earnings were announced. Shares hit a 52-week high of $19.95 in September and have fallen to $4.70 at yesterday’s close. Shares are up about 5% right before the open.
Paul Ausick
March 6, 2009
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
