CLNE - Clean Energy Fuels shares in rally mode as quarterly losses shrink

Clean Energy Fuels ( NASDAQ: CLNE ) +17.4% in Friday's trading after reporting a narrower than expected Q2 loss and sales that ramped up to $97M after near-zero in the year-ago quarter.

Q2 GAAP net loss fell by more than 80% to $13.2M, or $0.06/share, from a year-earlier loss of $79.7M, or $0.38/share, while revenues rose to $97.2M from just $500K in the same period last year.

Clean Energy ( CLNE ) said fuels delivered increased 5.4% Y/Y to 106.9M gallons from 101.4M gallons a year earlier, due mostly from continued growth in Amazon's fleet of trucks and in the company's airports, public transit and refuse customer markets; renewable natural gas delivered rose 16.6% Y/Y to 50M gallons.

The company guided for a full-year GAAP net loss of $60M-$80M and adjusted EBITDA of $60M-$65M, although changes in diesel and natural gas market conditions could significantly affect results.

Shares also may be enjoying a boost from the increased likelihood of passage of the U.S. Senate's climate and energy plan.

Clean Energy Fuels ( CLNE ) shares have gained 13% YTD and 7% during the past year .

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