Clean Energy revenue down 11 pct
Clean Energy Fuels informed that its revenue dropped 11 percent $86.9 million in the second quarter of this year.
Approximately $5.6 million of the decrease was the result of lower fuel prices which were driven by lower commodity costs in 2015 compared to 2014, the company said in a report.
Gallons delivered for the second quarter increased 15 percent to 74.4 million gallons, compared to 64.8 million gallons delivered in the same period a year ago.
Despite the headwinds of lower oil prices, Clean Energy has improved its operating results for the second quarter of 2015, Andrew J. Littlefair, Clean Energy’s President and Chief Executive Officer said.
“We improved our adjusted EBITDA by $3.0 million over the first quarter and continue to see volume growth year over year with significant reductions in SG&A and capital expenditures from a year ago,” Littlefair added.