Loading...
•
Dec 31, 2020
Clean Energy Q4 2020 Earnings Report
Clean Energy's Q4 2020 earnings were impacted by decreased revenue and net loss, primarily due to the effects of COVID-19 and changes in AFTC.
Key Takeaways
Clean Energy reported a decrease in revenue and a net loss for Q4 2020. Revenue decreased by 37.3% compared to Q4 2019, mainly due to lower AFTC and the impact of COVID-19. The company delivered 96.0 million gallons, a 7% decrease from the previous year. Net loss attributable to Clean Energy was $(2.6) million, or $(0.01) per share.
Delivered 96.0 million gallons, a 7% decrease year-over-year, impacted by COVID-19.
Revenue was $75.0 million, a 37.3% decrease compared to the prior year, due to lower AFTC and COVID-19.
Net loss attributable to Clean Energy was $(2.6) million, or $(0.01) per share.
Non-GAAP loss per share was $(0.00) and Adjusted EBITDA was $13.6 million.
Revenue by Segment
Forward Guidance
Clean Energy expects GAAP net income to be approximately breakeven for 2021 and Adjusted EBITDA to range from $60 million to $62 million.
Positive Outlook
- GAAP net income (loss) for 2021 is expected to be approximately breakeven
- Adjusted EBITDA for 2021 is expected to range from $60 million to $62 million
Challenges Ahead
- Assumes no unrealized gains or losses on commodity swap and customer contracts
- Contemplates a prolonged effect and more flattened recovery curve from the COVID-19 pandemic through the middle of 2021
- Expectations exclude the impact of any acquisitions, divestitures, new joint ventures, transactions or other extraordinary events including a deterioration in, slower or lack of any recovery from the COVID-19 pandemic.
- Expectations regarding 2021 Adjusted EBITDA assumes the calculation of this non-GAAP financial measure in the same manner as described above and without adjustments for any other items that may arise during 2021 and that management deems appropriate to exclude.
- Changes in diesel and natural gas market conditions resulting in unrealized gains or losses on the Company’s commodity swap contracts could significantly impact the Company’s estimated GAAP net income for 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...