Clean Energy Fuels (WIQ) AI Stock Analysis

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Clean Energy Fuels

(BX Swiss:WIQ)

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Positive Factors

Strong cash generation and liquidityPositive operating and free cash flow provide internal funding for projects while reducing reliance on external capital. The $140 million cash and investments balance, alongside term-loan repayment, gives Clean Energy flexibility to complete growth initiatives and absorb operating variability.

Negative Factors

Persistent GAAP losses and weak returnsThe company remains meaningfully unprofitable despite stronger revenue, gross margin and adjusted EBITDA. Recurring operating and net losses weaken earnings quality, limit the evidence of durable profitability, and make sustained returns on the existing equity base dependent on further execution.

Clean Energy Fuels Business Overview & Revenue Model

Company Description

Clean Energy Fuels Corp. specializes in providing natural gas as an alternative fuel source and comprehensive fueling infrastructure, primarily serving markets in the United States and Canada. The company supplies various forms of natural gas, includ...

Clean Energy Fuels Earnings Call Summary

Earnings Call Date:Nov 05, 2026(Q3-2026)|Next Earnings Date:Mar 02, 2027

Earnings Call SentimentPositive

The call was predominantly positive, with strong third-quarter operating results, improved 45Z economics, higher guidance, tax-credit monetization, RNG volume growth and expanding fleet and alternative-energy opportunities. The company continues to face a GAAP net loss, higher near-term SG&A, potential fourth-quarter one-time charges, a lengthy and unsettled fleet-adoption cycle, and some asset-repair needs.

Positive Updates

Higher Third-Quarter Revenue and Adjusted EBITDA

Clean Energy reported $112 million of third-quarter revenue, 67 million gallons of RNG and $27 million of adjusted EBITDA. Adjusted EBITDA was $27.2 million, up from $17.3 million in the third quarter of 2025, primarily due to the 45Z production tax credit and higher RIN and LCFS revenues.

Negative Updates

GAAP Net Loss Remained Negative

The company reported a GAAP net loss of $5.7 million in the third quarter of 2026, although this improved significantly from a $23.8 million net loss in the third quarter of 2025.

Company Guidance

Clean Energy increased its 2026 adjusted EBITDA guidance by $5 million to a range of $75 million to $80 million; it expects to spend less than $10 million during the remainder of the year to complete its Maas Dairy projects, expects the final Maas project to come online in mid-2027, and expects to sell ITCs from 4 more projects in 2027 and 2028, which will provide additional cash. The company said it expects to recognize PTC from its RNG suppliers each year in the third quarter, could incur onetime charges in the fourth quarter, and will provide its 2027 outlook in February.

Clean Energy Fuels Risk Analysis

Clean Energy Fuels disclosed 29 risk factors in its most recent earnings report. Clean Energy Fuels reported the most risks in the "Finance & Corporate" category.

Finance & Corporate10
Tech & Innovation2
Legal & Regulatory4
Production8
Ability to Sell4
Macro & Political1

Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy

Latest Risks Added

0 New Risks

Clean Energy Fuels Peers Comparison

Overall Rating

UnderperformOutperform

Sector (65)

Financial Indicators

CH:WIQ against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
UGP	72Outperform	$5.93B	9.42	20.80%	6.96%	20.26%	31.82%
Sector *	65Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
SUN	64Neutral	$12.95B	10.59	21.79%	4.98%	135.84%	104.10%
WKC	56Neutral	$1.81B	-12.03	-13.12%	2.45%	21.07%	62.41%
CAPL	53Neutral	$759.27M	15.71	-55.84%	10.36%	9.12%	3.86%
APC	52Neutral	$708.80M	15.88	8.02%	5.13%	―	―

* Energy Sector Average

Performance Comparison

CH:WIQ and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
UGP	Ultrapar Participacoes	5.43	1.59	41.59%
WKC	World Kinect Corporation	35.13	10.99	45.53%
SUN	Sunoco LP	65.34	17.18	35.68%
CAPL	Crossamerica Partners LP	20.27	1.27	6.67%
APC	ARKO Petroleum Corp. Class A	15.40	-1.46	-8.68%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Clean Energy Fuels AI Stock Analysis