Clean Energy Fuels shares rise after Q3 2026 earnings beat

Clean Energy Fuels (NASDAQ: CLNE) reported third-quarter 2026 financial results that exceeded market expectations, leading to a significant increase in its stock price. The company generated $112.2 million in revenue, representing a 5.7% year-on-year increase and surpassing analyst estimates of $101.3 million.

Key financial highlights include an adjusted earnings per share (EPS) of $0.03, which significantly outperformed the consensus estimate of negative $0.04. Adjusted EBITDA reached $27.2 million, beating analyst projections of $18.24 million. The company also provided full-year adjusted EBITDA guidance of $77.5 million at the midpoint, which sits above previous market estimates.

Management attributed the strong performance to dairy renewable natural gas (RNG) investments and station network value. Financial results were further bolstered by favorable developments regarding the 45Z production tax credit, which the company expects to contribute to EBITDA through at least 2029. Additionally, the company monetized tax credits associated with its dairy RNG portfolio to strengthen its cash position.