Clean Energy Fuels Ticks Higher Following Q4 Results
Shares of Clean Energy Fuels (NASDAQ: CLNE) are trading higher in the after-hours following the release of the company's Q4 earnings results. Currently, shares are higher by 0.49%, trading at $20.65; they ended the regular session lower by 1.06%, at $20.55.
Clean Energy Fuels reported Q4 EPS of ($0.21) on revenues of $86.2 million; the Street was looking for ($0.16) on revenues of $62.97 million. Revenues increased 3.6% year over year.
Andrew J. Littlefair, Clean Energy's President and Chief Executive Officer, stated, "I am very pleased with our progress in 2011. We grew our core markets, increased our sales, engineering and construction staffs, embarked on construction of America's Natural Gas Highway for medium- and heavy-duty trucking, and we raised $350 million, with an additional commitment of $100 million, in financing to fund the Highway and other projects.”
“We believe we are strongly positioned to grow well into the future as we can offer a compelling opportunity to shippers and fleet owners across the country to achieve cost savings while simultaneously reducing emissions and using a domestic fuel."
Clean Energy Fuels Corp. together with its wholly owned subsidiaries is engaged in the business of selling natural gas fueling solutions to its customers, primarily in the United States and Canada.
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