NEWPORT BEACH, Calif. (AP) — NEWPORT BEACH, Calif. (AP) — Clean Energy Fuels Corp. (CLNE) on Tuesday reported a loss of $38.7 million in its first quarter.
The Newport Beach, California-based company said it had a loss of 17 cents per share. Losses, adjusted for non-recurring costs and stock option expense, were 7 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.
The provider of natural gas as an alternative fuel for vehicle fleets posted revenue of $132.2 million in the period.
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