Clean Energy’s revenue and delivery grow in Q3

Clean Energy said its Gallons delivered for the third quarter of 2014 totaled 68.6 million gallons, up 22% from the 56.4 million gallons delivered in the same period a year ago.

For the nine months ended September 30, 2014, gallons delivered totaled 192.7 million gallons, up from 158.9 million gallons delivered in the nine months ended September 30, 2013.

Revenue for the third quarter ended September 30, 2014 was $103.4 million, up from $86.3 million for the third quarter of 2013. Excluding the VETC revenue recorded in the third quarter of 2013, revenue increased 29% between periods. For the nine months ended September 30, 2014, revenue totaled $296.8 million, up from $267.5 million a year ago.

Andrew J. Littlefair, Clean Energy’s President and Chief Executive Officer, stated: “Once again, Clean Energy has delivered very healthy results this quarter. We continue to get closer to breakeven Adjusted EBITDA, and we produced over 20% growth in our delivered volumes. What is so encouraging about this robust number is that it was primarily driven by our established businesses of transit and refuse. I am very encouraged that this type of overall volume growth should continue with the anticipated volumes from the growing number of heavy-duty truck fleets that are testing natural gas trucks along with new businesses we are entering, such as “virtual natural gas pipelines” with our investment in NG Advantage.”

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Press Release; Image: Clean Energy Fuels