Clean Energy Fuels Corp. (CLNE)
NASDAQEnergyOil & Gas Refining & MarketingSnapshot 2026-09-04
$1.65+1.85%
Close 2026-09-04 · 1-day change
NASDAQEnergyOil & Gas Refining & MarketingSnapshot 2026-09-04
Broken: Primary pillar broken — Adjusted EBITDA reaches at least $70 million in 2026: FY26 EBITDA guidance -71M to -66M vs 70M target.
Clean Energy Fuels aims to grow adjusted EBITDA to $70-$75 million in 2026. Leadership changes bring fresh management focused on stability. The company has shown some earnings beats recently. This could lead to improved profitability and cash flow over time.
The company is still loss-making with negative cash flow trends. Recent director stock sales raise confidence concerns. Revenue growth is slow and the sector faces headwinds. The turnaround may stall or fail to deliver sustainable profits.
The price sits about 9% below our fair value near $2. Analysts expect only about 2% revenue growth. Our view aligns with cautious optimism but sees risks in cash flow and profitability.
Breaks if: Adjusted EBITDA falls below $60 million in FY26
Continue growing Adjusted EBITDA to the target range of $70 million to $75 million for fiscal year 2026.
Stated as a priority in 4 of last 4 quarters. Adjusted EBITDA guidance for 2026 remains at $70 million to $75 million. Actual quarterly Adjusted EBITDA was $16.6 million in Q1 2026 and $16.0 million in Q2 2026, showing a slight decline quarter-over-quarter but consistent with management's stated target range. The trajectory is delivering with stable Adjusted EBITDA performance supporting the full-year guidance.
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a turnaround situation, as CLNE is currently loss-making and facing challenges in its financial performance. The thesis is in a watch state, indicating that while there are some positive developments, the overall outlook remains uncertain.
The market appears to have priced in a low expectations gap, suggesting that investors are not overly optimistic about CLNE's near-term recovery. The valuation is seen as cheap compared to peers, but this is tempered by the company's recent struggles.
Management's focus on increasing Adjusted EBITDA and expanding the RNG fueling station network shows some potential for improvement. However, recent financial performance has been weak, and there is a moderate risk of missing future guidance.
The long-term thesis hinges on several factors, including the potential for inflation to reaccelerate, which could benefit energy companies like CLNE. Additionally, the performance of sector bellwethers and management's ability to meet guidance will be critical in shaping investor sentiment.
The most important moves since the prior daily snapshot.
The recent news cuts both ways. It is challenged by improve cash from operations. It is supported by the latest earnings beat.
as of 2026-09-04
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
“Adjusted EBITDA for 2026 is estimated to range from approximately $70 million to $75 million.”
“Adjusted EBITDA for 2026 is estimated to range from approximately $70 million to $75 million.”
“Adjusted EBITDA for 2026 is estimated to range from approximately $70 million to $75 million.”
“Adjusted EBITDA for 2026 is estimated to range from approximately $70 million to $75 million.”
Breaks if: Cash from operations remains negative through FY26
Focus on improving cash flow from operating activities to strengthen financial stability.
Breaks if: Leadership turmoil or key executive departures occur
In the next 1 to 3 years, CLNE's performance will depend on its ability to execute on management priorities and navigate sector dynamics. Not investment advice.