As Predicted, Larger Losses At Clean Energy Fuels
The promise of a national natural gas highway continues to be a larger than expected money-losing ordeal for Clean Energy Fuels Corp. (CLNE). As predicted prior to the earnings report, the losses will continue to flow and investors should be concerned (see Coming Soon: More Losses At Clean Energy Fuels). The company reported Q412 earnings that slightly missed analyst expectations and provided general commentary that doesn't change the profit picture much for the next few years.
Per the company, it is the largest provider of natural gas fuel for transportation in North America and a global leader in the expanding natural gas vehicle fueling market.
The good news is that the Cummins (CMI) - Westport Innovations (WPRT) engine needed for highway use by the long haul trucking industry appears on track for Q4 production. The bad news is that Clean Energy built 70 stations in 2012 on expectations of production by this summer.
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