Clean Energy Fuels Drops 9.85% After $43M Q4 Loss and 2026 Guidance
Clean Energy Fuels shares fell 9.85% last week after Q4 2025 results showed a $43 million net loss versus $30.1 million a year earlier and full-year net loss rising 167% to $222 million. Adjusted EBITDA dropped almost 12% to $67.6 million but beat guidance, and the company forecasts $420 million–$440 million in 2026 revenue, a $66 million–$71 million GAAP loss, and 250 million gallons of RNG deliveries.
1. Weekly Share Price Decline
Shares of Clean Energy Fuels declined 9.85% between February 18 and February 25, ranking among the largest weekly declines in the energy sector as investors reacted to the latest financial report.
2. Q4 2025 Financial Results
The company reported a Q4 net loss of $43 million compared with a $30.1 million loss in Q4 2024, with non-cash interest charges tied to debt paydowns and the expiration of its delayed draw loan weighing on results despite beating revenue estimates.
3. Full-Year 2025 Performance
Full-year net loss widened 167% year-over-year to $222 million, while adjusted EBITDA fell 12% to $67.6 million but still exceeded the high end of its $65 million guidance; RNG sales rose slightly to 237.4 million gallons.
4. 2026 Outlook
The company projects 2026 revenue between $420 million and $440 million, GAAP net loss of $66 million–$71 million, adjusted EBITDA of $70 million–$75 million, and RNG deliveries targeted at 250 million gallons, signalling modest growth ambitions next year.