--- title: "Clean Energy Fuels | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 117.56 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285619634.md" datetime: "2026-05-07T21:04:19.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285619634.md) - [en](https://longbridge.com/en/news/285619634.md) - [zh-HK](https://longbridge.com/zh-HK/news/285619634.md) --- # Clean Energy Fuels | 10-Q: 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. ### Clean Energy Fuels Corp. - Financial Metrics (Three Months Ended March 31) #### Revenue - **Total Revenue**: Increased to $117.6 million in 2026 from $103.8 million in 2025 . - **Product Revenue**: Rose to $102.9 million (87.5% of total revenue) in 2026 from $90.3 million (87.0% of total revenue) in 2025, driven by higher fuel sales, a $9.8 million decrease in non-cash stock-based sales incentive contra-revenue charges, a $4.9 million increase in RIN revenue, a $0.5 million increase in LCFS revenue, a $2.7 million increase in station construction sales, and a $0.6 million unrealized gain from commodity swap and customer contracts . - **Fuel sales**: Increased to $79.6 million in 2026 from $76.3 million in 2025 . - **RIN Credits**: Increased to $10.1 million in 2026 from $5.2 million in 2025 . - **LCFS Credits**: Increased to $4.3 million in 2026 from $3.8 million in 2025 . - **Station construction sales**: Increased to $8.2 million in 2026 from $5.6 million in 2025 . - **Service Revenue**: Increased to $14.7 million (12.5% of total revenue) in 2026 from $13.5 million (13.0% of total revenue) in 2025, primarily due to higher volumes serviced, partially offset by a $2.6 million increase in non-cash stock-based sales incentive contra-revenue charges . #### Operating Expenses - **Total Operating Expenses**: Decreased to $120.451 million in 2026 from $230.062 million in 2025 . - **Product cost of sales**: Increased to $73.8 million in 2026 from $67.8 million in 2025, primarily due to increased fueling volumes and a $2.2 million rise in station construction costs . - **Service cost of sales**: Increased to $11.1 million in 2026 from $8.2 million in 2025 due to higher serviced volumes . - **Selling, general and administrative (SG&A)**: Decreased to $24.5 million in 2026 from $27.5 million in 2025, mainly due to a $3.2 million decrease in general business, selling, and administrative expenses . - **Depreciation and amortization**: Decreased to $11.0 million in 2026 from $62.3 million in 2025, primarily due to accelerated depreciation expense related to the change in depreciable life of Pilot Travel Centers, LLC station assets removed in 2025 . - **Impairment of goodwill**: No impairment was recognized in 2026, compared to $64.3 million in 2025 . #### Profitability - **Operating loss**: Significantly reduced to - $2.9 million in 2026 from - $126.3 million in 2025 . - **Net loss attributable to Clean Energy Fuels Corp.**: Decreased to - $12.4 million in 2026 from - $135.0 million in 2025 . #### Other Income/Expense - **Interest expense**: Decreased to - $5.7 million in 2026 from - $7.5 million in 2025, primarily due to a lower principal balance on debt . - **Interest income**: Decreased to $1.4 million in 2026 from $2.9 million in 2025, primarily due to lower average interest rates and a lower balance of short-term investments . - **Loss from equity method investments**: Decreased to - $5.6 million in 2026 from - $7.0 million in 2025 . #### Cash Flow - **Net cash provided by (used in) operating activities**: Was - $8.362 million in 2026, a decrease from $23.428 million provided in 2025, primarily due to changes in working capital . - **Net cash provided by (used in) investing activities**: Was - $89.610 million in 2026, compared to $7.397 million provided in 2025, mainly due to a $69.8 million increase in short-term investments and a $13.6 million increase in investments in other entities . - **Net cash (used in) financing activities**: Was - $1.950 million in 2026, compared to - $1.924 million in 2025 . #### Unique Metrics - **Total Fuel Volume (GGEs)**: Increased to 84.7 million in 2026 from 66.7 million in 2025 . - **RNG (GGEs)**: Increased to 67.4 million in 2026 from 50.6 million in 2025 . - **Conventional Natural Gas (GGEs)**: Increased to 17.3 million in 2026 from 16.1 million in 2025 . - **RNG Project Production Volume (GGEs)**: - **TotalEnergies JV**: Maintained at 0.2 million in both 2025 and 2026 . - **bpJV**: Increased to 0.9 million in 2026 from 0.3 million in 2025, with the number of projects in operation rising from 4 to 6 . - **South Fork**: Produced 0.2 million in 2026, with 1 project in operation, compared to none in 2025 . #### Future Outlook and Strategy Clean Energy Fuels Corp. is committed to Renewable Natural Gas (RNG) as a scalable clean fuel solution for transportation while exploring alternative technologies . The company plans approximately $25.0 million in 2026 capital expenditures for fueling station construction, IT, equipment, and LNG plant costs, to be funded by cash on hand and operating cash flow . Additionally, Clean Energy Fuels Corp. anticipates contributing up to $42.0 million in equity capital to its Maas JDA equity method investment in 2026, with no further equity contributions expected for its TotalEnergies JV or bpJV . ### Related Stocks - [CLNE.US](https://longbridge.com/en/quote/CLNE.US.md) ## Related News & Research - [PowerFleet Q4 2026 Earnings Preview](https://longbridge.com/en/news/289616465.md) - [ABB Ltd: ABB share buybacks - June 4, 2026 – June 10, 2026](https://longbridge.com/en/news/289436946.md) - [Soybean Analysis: 2026 Market Volatility and Trend](https://longbridge.com/en/news/289444628.md) - [Zedge Q3 2026 Earnings Preview](https://longbridge.com/en/news/289381005.md) - [Casey’s General Stores Q4 revenue beats estimates, on the back of strong inside sales](https://longbridge.com/en/news/289236376.md)