Clean Energy Fuels Q3 revenue rises on higher prices, increased production
CLNE•Clean Energy Fuels reported Q3 revenue of $112.2 million, up year over year and slightly above the $111.6 million analyst estimate, as higher prices and increased production lifted revenue. It raised its 2026 adjusted EBITDA outlook to $75 million-$80 million from $70 million-$75 million.
1. Quarterly results
Clean Energy Fuels reported Q3 adjusted net income of $6.44 million and adjusted EBITDA of $27.18 million, both above analyst estimates. The company posted a net loss of $5.73 million and a loss per share of $0.03.
2. Outlook and volumes
The company raised its 2026 adjusted EBITDA outlook to $75 million-$80 million from $70 million-$75 million and expects a 2026 GAAP net loss of $50 million-$55 million. It reported 9% year-over-year growth in RNG gallons sold and said Section 45Z tax credits are expected to support earnings through at least 2029.
3. Revenue drivers
Higher prices and increased production from dairy RNG projects drove growth in RIN and LCFS revenue. Section 45Z production tax credits reduced product costs, supporting quarterly results.
