Clean Energy Fuels reported second quarter 2026 revenue of $106.4 million, missing analyst expectations despite a year-over-year increase from $102.6 million. The company's bottom line improved with a GAAP net loss of $14.9 million, or $0.07 per share, compared to a loss of $20.2 million in the prior year, partially aided by lower non-cash charges related to Amazon warrants. While renewable natural gas (RNG) volumes continue to grow, the pace was slower than anticipated by the market.
Key Highlights
- RNG gallons sold increased 2.9% year-over-year to 63.2 million, falling short of the 68 million gallon target expected by analysts.
- Station construction revenue more than doubled to $16.0 million compared to $7.8 million in the second quarter of 2025.
- Environmental credit revenue (RIN and LCFS) rose to $14.2 million from $11.9 million, driven by higher low-carbon intensity volumes and contributions from upstream dairy projects.
- The company reaffirmed its full-year 2026 Adjusted EBITDA guidance of $70 million to $75 million, despite a GAAP net loss outlook of $71 million to $66 million.