Clean Energy reports Q1 EPS (1c), consensus (16c)

Reports Q1 revenue $103.8M, consensus $98.0M. “As the markets continue to evaluate the macro-economic environment and remain volatile, we are fortunate that we have a stable, recurring business with many existing long-term customers like transit agencies and waste companies. We also believe that RNG is the commonsense solution for the heavy-duty trucking market. Thousands of heavy-duty trucks are already fueling in our network of natural gas stations across the US and Canada, proving that fleets can economically achieve significant emissions reductions. Our first quarter operating results, apart from the non-cash charges, resulted in a net increase in cash and investments. We remain very focused on accommodating the adoption of the Cummins X15N engine in the heavy-duty space while also increasing RNG volumes from our dairy RNG projects. We believe common sense wins in the end.”