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Jun 30, 2021
Clean Energy Q2 2021 Earnings Report
Clean Energy's operating results for the second quarter of 2021 were announced.
Key Takeaways
Clean Energy Fuels Corp. reported a decrease in revenue for the second quarter of 2021, primarily due to Amazon warrant charges. However, excluding these charges, revenue increased due to higher fuel prices and increased gallons delivered. The company completed a significant agreement with Amazon and saw business returning to pre-COVID levels.
Completed a major commercial agreement with Amazon.
Business began recovering to pre-COVID-19 levels.
Raised $200 million in growth capital.
Earnings exceeded expectations.
Revenue by Segment
Forward Guidance
Clean Energy Fuels Corp. expects a GAAP net loss of approximately $(86) million for 2021, which includes estimated Amazon warrant charges of $86 million. Adjusted EBITDA for 2021 is expected to range from $60 million to $62 million.
Positive Outlook
- Adjusted EBITDA for 2021 is expected to range from $60 million to $62 million.
- The guidance contemplates a gradual recovery from the COVID-19 pandemic in the second half of 2021.
- The guidance excludes the impact of any acquisitions, divestitures, new joint ventures, or other extraordinary events.
- The guidance assumes the calculation of Adjusted EBITDA in the same manner as described above and adding back the expected $86 million of Amazon warrant charges.
- The company is increasing its estimate of GAAP net loss for 2021 from $(76) million to approximately $(86) million.
Challenges Ahead
- GAAP net loss for 2021 is estimated to be approximately $(86) million.
- The estimated loss includes estimated Amazon warrant charges of $86 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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