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Clean Energy Reports Revenue of $117.6 Million and 67.4 Million RNG Gallons Sold for the First Quarter of 2026

CLNE
  • Clean Energy Fuels Corp. reported Q1 2026 revenue of $117.6 million, an increase from $103.8 million in Q1 2025.
  • The company recorded a GAAP net loss of $12.4 million ($0.06 per share) for Q1 2026, a significant improvement compared to the $135.0 million loss ($0.60 per share) in Q1 2025.
  • Adjusted EBITDA for Q1 2026 was $16.6 million, slightly down from $17.1 million in Q1 2025.
  • Cash, cash equivalents, and short-term investments totaled $126.2 million as of March 31, 2026, compared to $156.1 million at the end of 2025.
  • Clay Corbus was appointed President and Chief Executive Officer effective April 2026.
  • The East Valley dairy renewable natural gas (RNG) project in Idaho was placed into service in Q1 2026 with an expected annual production of 3.5 million gallons.
  • RNG gallons sold reached 67.4 million in Q1 2026, representing a 33.2% increase over the prior year period.
  • The company announced new agreements with nationwide trucking, refuse, and transit fleets covering RNG fueling infrastructure, supply, and maintenance services.
  • Revenue increased due to higher RIN LCFS credits ($14.4 million vs. $9.0 million) station construction sales ($8.2 million vs. $5.6 million), despite a reduction in non-cash Amazon warrant charges.
  • The Q1 2025 net loss included $64.3 million in goodwill impairment $50.7 million in accelerated depreciation from abandoned LNG station assets, neither of which occurred in Q1 2026.
  • Full-year 2026 GAAP net loss is projected to range between $66 million $71 million, while Adjusted EBITDA is expected to range between $70 million $75 million.
  • The company's outlook assumes approximately $47 million in Amazon warrant charges for 2026 excludes impacts from acquisitions divestitures, or extraordinary events.