News

Clean Energy Fuels reports fourth-quarter loss but tops expectations

NEWPORT BEACH, Calif. – NEWPORT BEACH, Calif. (AP) _ Clean Energy Fuels Corp. (CLNE) on Thursday reported a fourth-quarter loss of $50 million, after reporting a profit in the same period a year earlier.

The Newport Beach, California-based company said it had a loss of 54 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 8 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.

The provider of natural gas as an alternative fuel for vehicle fleets posted revenue of $119.3 million in the period.

For the year, the company reported that its loss widened to $134.2 million, or $1.47 per share. Revenue was reported as $384.3 million.

In the final minutes of trading on Thursday, the company’s shares hit $3.45. A year ago, they were trading at $5.69.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CLNE at http://www.zacks.com/ap/CLNE

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Keywords: Clean Energy Fuels, Earnings Report