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Dec 31, 2023
Clean Energy Q4 2023 Earnings Report
Clean Energy reported a decrease in revenue but an increase in RNG gallons sold for Q4 2023.
Key Takeaways
Clean Energy Fuels Corp. reported Q4 2023 revenue of $106.9 million, a decrease from $113.8 million in Q4 2022. However, renewable natural gas (RNG) gallons sold increased by 4.8% to 57.0 million gallons. The company's net loss was $(18.7) million, or $(0.08) per share, compared to $(12.3) million, or $(0.06) per share, in Q4 2022.
Q4 2023 revenue totaled $106.9 million, down from $113.8 million in Q4 2022.
RNG gallons sold increased by 4.8% to 57.0 million gallons in Q4 2023.
Net loss for Q4 2023 was $(18.7) million, or $(0.08) per share, compared to $(12.3) million, or $(0.06) per share, in Q4 2022.
Adjusted EBITDA was $21.2 million for Q4 2023, compared to $12.2 million for Q4 2022.
Forward Guidance
Clean Energy Fuels Corp. provided its outlook for 2024, including a GAAP net loss of approximately $(111) million to $(101) million and Adjusted EBITDA of $62 million to $72 million.
Positive Outlook
- Adjusted EBITDA for 2024 is estimated to range from approximately $62 million to $72 million.
Challenges Ahead
- GAAP net loss for 2024 is expected to range from approximately $(111) million to $(101) million, including Amazon warrant charges estimated to be approximately $69 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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