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Clean Energy Fuels Stock Surges 13% on Strong Quarterly Results
Clean Energy Fuels Stock Surges 13% on Strong Quarterly Results
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BTCCSquare news:
Clean Energy Fuels (CLNE) shares rallied nearly 13% Friday after reporting Q2 revenue of $102.6 million, topping analyst estimates by 8%. The renewable natural gas provider's adjusted net income of $337,000 ($0.00/share) defied expectations of a $0.06 loss.
CEO Andrew Littlefair highlighted RNG's cost-effectiveness as a clean transportation fuel, with demand reflected in the results. Government policy tailwinds including extended clean fuel tax credits are expected to further bolster the sector.
The stock's performance dramatically outpaced the broader market's 0.8% gain, signaling renewed investor confidence in the niche RNG provider's ability to power commercial fleets sustainably.
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