Q2 2025 Clean Energy Fuels Corp Earnings Call Transcript
Key Points
- Clean Energy Fuels Corp (CLNE) reported a solid performance with $102 million in revenue and over 61 million gallons of renewable natural gas (RNG) sold in Q2 2025.
- The company has a strong financial position with $241 million in cash and investments, up from $217 million at the beginning of the year.
- CLNE is expanding its RNG production capabilities with six dairy projects operating and additional projects in Texas and Idaho nearing completion.
- The company has signed numerous deals with transit agencies and waste companies, fueling over 9,000 transit buses daily at 115 locations.
- CLNE is optimistic about the heavy-duty truck market's adoption of RNG, with new policy changes allowing fleets to consider multiple technologies.
- CLNE reported a GAAP net loss of $20.2 million for Q2 2025, compared to $16.3 million a year ago.
- The company faced lower RIN pricing in 2025 compared to the previous year, impacting revenue.
- There are ongoing uncertainties around the timing of adoption of the X15N engine and regulatory changes in California affecting truck sales.
- The ramp-up of RNG production at some dairy projects is slower than anticipated, impacting expected revenue.
- The LCFS revenue was lower in Q2 2025 due to a 20% drop in LCFS prices since the first quarter.
Good day, everyone, and welcome to today's Clean Energy Fuels second-quarter 2025 earnings conference call. (Operator Instructions) Please note this call is being recorded, and I will be standing by should you need any assistance.
It is now my pleasure to turn today's program over to Robert Vreeland, CFO.
Thank you, operator. Earlier this afternoon, Clean Energy released financial results for the second quarter ending June 30, 2025. If you did not receive the release, it is available on the Investor Relations section of the company's website at www.cleanenergyfuels.com, where the call is also being webcast. There will be a replay available on the website for 30 days.
Before we begin, we'd like to remind you that some of the information contained in the news release and on this conference call, contains forward-looking statements that involve risks, uncertainties, and assumptions that are difficult to
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