Clean Energy Fuels Corp (CLNE) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Clean Energy Fuels Corp published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Clean Energy Fuels Corp reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP income per share, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Clean Energy Fuels operates as one reportable segment; the rows above are the revenue categories in its release. It reports in thousands; figures here are in millions.
• Revenue is net of non-cash contra-revenue charges tied to the warrant Clean Energy issued to Amazon: $10.6 million in Q3 2026 and $16.8 million in Q3 2025.

Source: Clean Energy Fuels Q3 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Clean Energy Fuels Corp splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Clean Energy Fuels Corp's Volume-related product revenue revenue was $90.4 million in Q3 2026, up 12% from $81.0 million in Q3 2025, 81% of total revenue.
• Clean Energy Fuels Corp's Station construction sales revenue was $6.2 million in Q3 2026, down 37% from $9.9 million in Q3 2025, 6% of total revenue.
• Clean Energy Fuels Corp's Service revenue revenue was $15.6 million in Q3 2026, up 2% from $15.2 million in Q3 2025, 14% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Clean Energy Fuels Corp said:

“Adjusted EBITDA for 2026 is estimated to range from approximately $75 million to $80 million.”

“Our GAAP net loss for 2026 is expected to range from approximately $(55) million to $(50) million, assuming no unrealized gains or losses on customer contracts relating to the Company's truck financing program and Amazon warrant charges estimated to be approximately $44.0 million.”

Source: Clean Energy Fuels Q3 2026 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the CLNE forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Total revenue and GAAP net loss per share attributable to Clean Energy, each as first reported in that quarter's release.

We do not hold a confirmed date for Clean Energy Fuels Corp's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 5, 2026

Clean Energy Fuels had revenue of $112.2 million in Q3 2026, against $106.1 million a year earlier. Volume-related product revenue, mostly sales of renewable natural gas (RNG) and conventional natural gas as CNG and LNG plus RIN and LCFS credits, was $90.4 million. Station construction sales were $6.2 million, down from $9.9 million, and service revenue, mainly operating and maintaining customer-owned stations, was $15.6 million. (Clean Energy Fuels Q3 2026 release, Nov 5, 2026)

Clean Energy sold 85.1 million gasoline gallon equivalents (GGEs) of fuel in Q3 2026, against 76.6 million a year earlier. RNG was 66.8 million GGEs, up 9.0%, and conventional natural gas 18.3 million. Within volume-related revenue, fuel sales were $74.0 million, RIN credits $11.2 million and LCFS credits $4.8 million. (Clean Energy Fuels Q3 2026 release, Nov 5, 2026)

Clean Energy records non-cash contra-revenue charges tied to the warrant it issued to Amazon, which lower reported revenue. These Amazon warrant charges were $10.6 million in Q3 2026, against $16.8 million a year earlier: $7.1 million against fuel sales and $3.5 million against O&M services revenue. RIN and LCFS revenue rose to $16.0 million from $11.4 million, which Clean Energy put down to its consolidated dairy RNG project, higher prices and higher volume. (Clean Energy Fuels Q3 2026 release, Nov 5, 2026)

Clean Energy calls itself North America's leading provider of the cleanest fuel for the commercial transportation market, measured by stations operated and GGEs, with 468 million GGEs serviced and sold in 2025. Besides selling fuel it designs, builds, operates and maintains fueling stations in the U.S. and Canada. In the quarter it won a $27.5 million Orange County Transportation Authority contract to design and build a hydrogen fueling station, expected to be completed in 2028. (Clean Energy Fuels Form 10-K, 2025, Feb 24, 2026; Clean Energy Fuels Q3 2026 release, Nov 5, 2026)

Clean Energy Fuels' net loss attributable to the company was $5.7 million, or $(0.03) per share, in Q3 2026, against $23.8 million, or $(0.11), a year earlier. Q3 2026 included a $12.7 million reduction in product cost of sales from Section 45Z production tax credits ($6.9 million from its consolidated dairy RNG project and $5.8 million from third-party RNG suppliers), plus $9.2 million of those credits within income from equity method investments. Q3 2025 carried higher Amazon warrant charges, $5.1 million of accelerated depreciation for station equipment removal and a loss from the Rimere investment, which was disposed of in December 2025. (Clean Energy Fuels Q3 2026 release, Nov 5, 2026)

Clean Energy's non-GAAP income per share was $0.03, against $0.00. The non-GAAP figure adds back the Amazon warrant charges, $2.4 million of stock-based compensation and the loss from the SAFE S.p.A. equity method investment, and subtracts amortization of investment tax credits; non-GAAP net income was $6.4 million. Diluted weighted-average shares were 221,364,623, against 220,730,673. (Clean Energy Fuels Q3 2026 release, Nov 5, 2026)

Clean Energy's 45Z credit began on January 1, 2025 and was extended through December 31, 2029 by the One Big Beautiful Bill Act. Its CEO said he expects continued contributions from 45Z through at least 2029. In Q3 2026 Clean Energy also closed the sale of $30.7 million of federal tax credits from seven RNG facilities, including the $26.0 million investment tax credit for its South Fork Dairy facility in Dimmit, Texas. (Clean Energy Fuels Form 10-Q, Q3 2026, Nov 5, 2026; Clean Energy Fuels Q3 2026 release, Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Clean Energy Fuels publishes a full-year outlook in its release. With Q3 2026 results it raised 2026 adjusted EBITDA guidance to $75 million to $80 million, from $70 million to $75 million, and it expects a 2026 GAAP net loss of about $(55) million to $(50) million. That assumes about $44.0 million of Amazon warrant charges and no unrealized gains or losses on its truck financing customer contracts. (Clean Energy Fuels Q3 2026 release, Nov 5, 2026)

Clean Energy splits the adjusted EBITDA outlook into $65.0 million to $68.0 million from fuel distribution and $10.0 million to $12.0 million from RNG upstream, which combines its RNG equity method investments and its consolidated RNG project. The outlook excludes any acquisitions, divestitures, new joint ventures and other extraordinary events. (Clean Energy Fuels Q3 2026 release, Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover Clean Energy Fuels Corp, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Clean Energy Fuels Corp's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning CLNE is on is CLNE a buy or a sell?, what analysts expect next is on the CLNE forecast, and what the company does is on the Clean Energy Fuels Corp (CLNE) stock page.

Every number on this page can be traced to a document Clean Energy Fuels Corp published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.