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Clean Energy Fuels -8% after wider than expected Q4 loss

Published 03/13/2018, 05:05 PM
© Reuters.  Clean Energy Fuels -8% after wider than expected Q4 loss
CLNE
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  • Clean Energy Fuels (NASDAQ:CLNE) -8.7% after-hours as it reports a larger than expected Q4 loss and a 12% Y/Y decline in revenues, and sees continuing losses in 2018.
  • CLNE says the drop in Q4 revenues was due primarily to the absence of revenue recognized in 2017 from a federal alternative fuels tax credit and a lower effective price per gallon in 2017.
  • CLNE delivered 86.4M gallons in Q4, up 2.7% from the year-ago quarter, and delivered 351.4M gallons for FY 2017, a 6.8% increase from 329M gallons delivered in 2016.
  • Looking ahead, the company forecasts FY 2018 GAAP net loss of $20M-$25M, a $54.2M-$59.2M improvement over the 2017 net loss, with 2018 adjusted EBITDA expected at $55M-$60M, $54.9M-$59.9M better than in 2017.
  • Now read: Clean Energy Fuels Corp. Should Be Doing Much Better In This Environment


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