Clean Energy reports revenue increase of 19%

Clean Energy Fuels Corporation has announced operating results for the second quarter of 2014.

Gallons delivered by the company for the quarter totalled 64.8 million gallons, up 23% from the 52.6 million gallons delivered in the same period a year ago.

Revenue for the second quarter was US$ 98.1 million, up from US$ 88.1 million for Q2 2013.

Comments

Commenting on the results, President and CEO, Andrew J. Littlefair, stated: “It was a very productive quarter at Clean Energy with the opening of the I-10 corridor from L.A. to Houston and the I-40 corridor from L.A. to Oklahoma City to heavy duty trucks fuelling at our stations.

“Our nationwide network of natural gas fuelling stations continues to expand as the number of trucking fleets that are either testing natural gas trucks or increasing their current count is rapidly expanding.

CNG station

“We also opened a CNG station, which in addition to fuelling vehicles, is providing natural gas to energy-intensive users that are beyond the reach of a pipeline in New England.

“After being opened for only a few weeks, we see it on track to become one of our highest volume stations. In addition to this new market, we also made additional inroads into two of our newer markets, ready mix and bulk fuel hauling, during the quarter. Lastly, our established businesses of refuse, transit and airports continue to produce record volume levels.”

Adjusted EBITDA for the second quarter was US$ 4.7 million, compared with US$ 11.1 million in Q2 2013.

Adapted from press release by Katie Woodward

Read the article online at: https://www.lngindustry.com/small-scale-lng/08082014/clean-energy-fuels-q2-2014-results-1172/