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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Clean Energy Fuels
Clean Energy Fuels (CLNE) investor relations material
Clean Energy Fuels Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
Q3 revenue was $112.2M vs. $106.1M YoY; RNG volumes rose 9% to 66.8M gallons.
Adjusted EBITDA increased to $27.2M from $17.3M, while GAAP net loss narrowed to $5.7M from $23.8M.
Stronger RNG upstream results and Section 45Z credits supported higher FY2026 Adjusted EBITDA guidance of $75M-$80M.
Financial highlights
Q3 operating income was $1.0M vs. an operating loss of $13.6M; net loss attributable to shareholders was $5.7M, or $0.03/share, vs. $23.8M, or $0.11/share.
Product revenue was $96.6M vs. $90.9M and service revenue was $15.6M vs. $15.2M; nine-month revenue was $336.1M vs. $312.5M.
Q3 RIN and LCFS revenue rose to $16.0M from $11.4M, supported by higher prices, volumes and consolidated RNG production.
Q3 Amazon warrant contra-revenue charges were $10.6M vs. $16.8M; nine-month charges were $30.3M vs. $51.5M.
Operating cash flow was $36.2M, including $23.3M in net ITC and PTC sale proceeds; capex was $5.5M. Nine-month operating cash flow was $56.6M.
Outlook and guidance
FY2026 Adjusted EBITDA guidance increased by $5M to $75M-$80M; guidance includes $65M-$68M from fuel distribution and $10M-$12M from RNG upstream.
FY2026 GAAP net loss guidance is $50M-$55M, assuming no unrealized customer-contract gains or losses and ~$44M of Amazon warrant charges.
The 2026 capital spending plan is ~$25M; less than $10M of spending is expected for the remainder of 2026 to complete Maas Dairy projects.
Up to $42M of Maas JDA equity contributions are anticipated, with $36M contributed through Sept. 30; four remaining project ITCs are expected to be sold in 2027 and 2028.
Potential year-end charges from organizational alignment and optimization efforts were not yet estimable; FY2027 outlook was planned for February.
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Latest events from Clean Energy Fuels
- North America's top RNG supplier, with stable revenue and growing sustainability-focused operations.CLNE
Company presentation - Q2 2026 revenue rose to $106.4M, net loss narrowed to $14.9M, and adjusted EBITDA was $16M.CLNEQ2 2026
- Progress in RNG, leadership change, and focus on profitability and fleet adoption challenges.CLNEAGM 2026
- RNG leader with 600+ stations, major partners, and strong growth in clean fuel solutions.CLNECompany presentation
- Revenue up 13% to $117.6M, RNG sales up 33%, and net loss narrowed to $12.4M.CLNEQ1 2026
- Shareholders will vote on directors, auditor, and executive pay amid growth, CEO transition, and ESG focus.CLNEProxy filing
- Q2 2024 revenue hit $98M, Adjusted EBITDA up 56%, net loss unchanged, liquidity strong.CLNEQ2 2024
- Net loss hit $135M on non-cash charges, but EBITDA and cash rose as share buybacks resumed.CLNEQ1 2025
- 2025 outlook sees lower EBITDA and a wider net loss, but RNG adoption and project growth continue.CLNEQ4 2024
Next Clean Energy Fuels earnings date
Q4 202624 Feb, 2027
Clean Energy Fuels
Next Clean Energy Fuels earnings date
Q4 202624 Feb, 2027
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Frequently asked questions
Clean Energy Fuels Corp. provides renewable natural gas (RNG) and conventional natural gas as alternative fuel solutions for the transportation sector. The company focuses on supplying fuel for various vehicle fleets, including transit buses, refuse trucks, and heavy-duty trucks. Clean Energy Fuels offers a range of services, including RNG production, fuel station construction and operation, and the management of fueling infrastructure. It also works with partners to expand the availability of renewable fuel. The company is headquartered in Newport Beach, California, and its shares are listed on the NASDAQ.