Clean Energy tightens third-quarter loss

Clean Energy Fuels, one of the largest providers of natural gas fuel for transportation in North America tightened its third-quarter loss. 

The company reported a net loss of $4.3 million during the third quarter which compares to $10.7 million in the corresponding quarter in 2018.

For the first nine months of the year, the company reported a net loss of $20.7 million, which compares to $10.7 million net loss in the corresponding period last year.

The company’s revenue for the third quarter of 2019 was $74.4 million, which compares to $77.3 million in revenue in the same period last year.

The company’s revenue for the nine months ended September 30, 2019, was $224.5 million, which compares to $250.2 million of revenue in the same period last year, which included $26.9 million from U.S. federal excise tax credits for alternative fuels (AFTC).

The company delivered 102.7 million gallons in the third quarter of 2019, an 11.3 percent increase from 92.3 million in the third quarter of 2018. For the nine months ended September 30, 2019, the company delivered 297.5 million gallons, an 11.5 percent increase from 266.8 million in the nine months ended September 30, 2018.

Out of the total volumes delivered in the third quarter of 2019, Clean Energy delivered 86.1 million gallons of compressed natural gas (CNG) rising from 75.4 million gallons in 2018.

LNG gallons deliveries slipped slightly reaching 16.6 million gallons in the third quarter of 2019, compared to 16.9 million gallons in the corresponding period in 2018.

For the first nine months of the year, CNG deliveries hit 248.5 million gallons, up from 220 million gallons in the corresponding period in 2018. LNG deliveries reached 49 million gallons, up from 46.8 million