Clean Energy Fuels reported Q2 results and filed its 10-Q Aug. 6. The release, from a major U.S. renewable natural gas provider, is a read on transport fuel demand.
Alpha Score of 44 reflects weak overall profile with moderate momentum, poor value, moderate quality, moderate sentiment.
Clean Energy Fuels (CLNE) reported second-quarter earnings after the Aug. 6 close, the first look at the renewable natural gas distributor's results for the three months through June 30. The same day, the company filed its quarterly 10-Q with the SEC and held the earnings call at 4:30 p.m. EDT.
President and CEO Barclay Corbus and CFO Robert Vreeland led the call. Thomas Driscoll, vice president of strategic development and sustainability, handled the opening remarks, pointing listeners to the release on the Investor Relations page of the company's website, where the call was also being webcast. He read the company's forward-looking statement disclaimer, which referenced the risk factors in the Form 10-Q filed earlier in the day.
Four sell-side analysts were on the line: Eric Stine of Craig-Hallum, Robert Brown of Lake Street Capital Markets, Nathaniel Pendleton of Texas Capital Securities, and Matthew Lovseth Blair of Tudor, Pickering, Holt & Co.
Clean Energy is one of the largest U.S. distributors of renewable natural gas (RNG), the biomethane captured from landfills and dairy farms. The company sells that fuel through a network of stations serving heavy-duty trucking fleets, so its quarterly volumes are a rare public window into the transportation leg of natural gas demand. Freight gas demand does not show up in weekly storage data; it shows up in filings like this one. The release adds a freight-side data point to the commodities analysis of gas demand.
RNG trades at a premium to conventional gas, and a large share of that premium comes from environmental credits under programs like California's Low Carbon Fuel Standard, which prices the greenhouse gas intensity of each fuel. The value of those credits depends on policy design and credit market conditions, which links the company's fuel sales to clean fuel mandates as well as to the gas market.
A replay of the call will be available on the company's website for 30 days.
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