--- title: "Clean Energy Fuels | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 117.56 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285613671.md" datetime: "2026-05-07T20:33:29.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285613671.md) - [en](https://longbridge.com/en/news/285613671.md) - [zh-HK](https://longbridge.com/zh-HK/news/285613671.md) --- # Clean Energy Fuels | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 117.56 M Revenue: As of FY2026 Q1, the actual value is USD 117.56 M, beating the estimate of USD 96.43 M. EPS: As of FY2026 Q1, the actual value is USD -0.06, beating the estimate of USD -0.107. EBIT: As of FY2026 Q1, the actual value is USD 1.424 M. #### Total Revenue Clean Energy Fuels Corp. reported a total revenue of $117.6 million for the first quarter of 2026, an increase from $103.8 million in the first quarter of 2025. #### Net Loss Net loss attributable to Clean Energy Fuels Corp. (\[清洁能源燃料公司\]) for Q1 2026 was -$12.4 million, or -$0.06 per share, a significant improvement compared to -$135.0 million, or -$0.60 per share, for Q1 2025. This improvement was partly due to the absence of a goodwill impairment of -$64.3 million and accelerated depreciation expense of -$50.7 million in Q1 2026, which were present in Q1 2025. Non-GAAP income (loss) per share for Q1 2026 was -$0.01, compared to $0.01 per share for Q1 2025. #### Adjusted EBITDA Adjusted EBITDA for Q1 2026 was $16.6 million, slightly down from $17.1 million for Q1 2025. Adjusted EBITDA attributable to fuel distribution was $19,383 thousand in Q1 2026, compared to $20,061 thousand in Q1 2025. Adjusted EBITDA of RNG upstream attributable to Clean Energy Fuels Corp. (\[清洁能源燃料公司\]) was -$2,814 thousand in Q1 2026, an improvement from -$2,976 thousand in Q1 2025. #### Revenue Breakdown - **Product Revenue**: Total product revenue increased to $102,873 thousand in Q1 2026 from $90,290 thousand in Q1 2025. - **Volume-related Product Revenue**: Total volume-related product revenue was $94.6 million in Q1 2026, up from $84.7 million in Q1 2025. - Fuel sales were $79.6 million in Q1 2026, compared to $76.3 million in Q1 2025. - RIN Credits increased to $10.1 million in Q1 2026 from $5.2 million in Q1 2025. - LCFS Credits increased to $4.3 million in Q1 2026 from $3.8 million in Q1 2025. - Change in fair value of derivative instruments resulted in a gain of $0.6 million in Q1 2026, compared to a loss of -$0.6 million in Q1 2025. - **Station Construction Sales**: Station construction revenues were $8.2 million in Q1 2026, up from $5.6 million in Q1 2025. - **Service Revenue**: Total service revenue increased to $14,683 thousand in Q1 2026 from $13,474 thousand in Q1 2025. - O&M services revenue was $14.2 million in Q1 2026, compared to $12.8 million in Q1 2025. #### Operational Metrics - **RNG Gallons Sold**: RNG gallons sold were 67.4 million gallons in Q1 2026, representing a 33.2% increase compared to Q1 2025. - **Total Fuel Volume**: Total fuel volume sold was 84.7 million GGEs in Q1 2026, up from 66.7 million GGEs in Q1 2025. - Conventional natural gas volume was 17.3 million GGEs in Q1 2026, compared to 16.1 million GGEs in Q1 2025. - **Cash and Investments**: Cash, cash equivalents (less restricted cash), and short-term investments totaled $126.2 million as of March 31, 2026, down from $156.1 million as of December 31, 2025. - **Operating Expenses**: Total operating expenses decreased significantly to $120,451 thousand in Q1 2026 from $230,062 thousand in Q1 2025, primarily due to the absence of impairment of goodwill and lower depreciation and amortization. - Selling, general and administrative expenses were $24,546 thousand in Q1 2026, a decrease of approximately $2.9 million from Q1 2025 ($27,464 thousand). - Depreciation and amortization was $11,002 thousand in Q1 2026, significantly lower than $62,267 thousand in Q1 2025, which included accelerated depreciation expense associated with station equipment removal. #### Other Financial Items Interest expense was -$5,701 thousand in Q1 2026, down from -$7,528 thousand in Q1 2025. Loss from equity method investments was -$5,638 thousand in Q1 2026, an improvement from -$7,044 thousand in Q1 2025. #### 2026 Outlook For the full year 2026, Clean Energy Fuels Corp. (\[清洁能源燃料公司\]) expects its GAAP net loss to range from approximately -$71 million to -$66 million, assuming no unrealized gains or losses on customer contracts and estimated Amazon warrant charges of approximately $47 million. Adjusted EBITDA for 2026 is estimated to be between $70 million and $75 million. 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