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Why Clean Energy Fuels Stock Raced Nearly 13% Higher Today

TheMotleyFool

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Why Clean Energy Fuels Stock Raced Nearly 13% Higher Today

Clean Energy Fuels (NASDAQ: CLNE), a company that sells renewable natural gas (RNG) as a fuel for automobiles, scored a clean win on the stock exchange Friday. Its shares zoomed almost 13% higher after it unveiled its latest set of quarterly results, which, among other things, featured a double beat on analyst estimates. With that performance, it crushed the 0.8% increase of the S&P 500 index.

Clean Energy Fuels' second quarter saw the company post revenue of $102.6 million, which was nearly 5% higher on a year-over-year basis. Non-GAAP (adjusted) net income fell to $337,000, shaking out to less than $0.01 per share.

Portion of a natural gas pipeline.