whole lot of sand thrown up in the financials for this quarter . . . there is a big GAP between the voodoo numbers of three gaaaaaaaap expressions to real earnings . . . cut the sheit and make some money, boys . . tired of promises . ..
I agree there's some mirrors in those numbers, maybe some smoke too.
They booked a $5.7 million pre-tax gain on a Nat. Gas futures contract in the second quarter results. Then they sold the contract in July for a $6.0 million loss. The loss doesn't show up until the third quarter because they sold the contract in July.
So, to my thinking, you gotta take the $5.7 million gain out of the second quarter profits in order to get a more realistic picture of what's going on in the business. And that picture doesn't look so good.
They are adding people and costs at a rate much faster than the sales growth rate. And then on the Conference call they whine because sales don't grow faster and blame the problem on customers not buying Nat. Gas vehicles fast enough. So every quarter the loss gets bigger.
And now, they've handicapped the third quarter right out of the box by $6.0 million pre-tax, due to the loss on the hedge contract they sold.
I've been building a position in CLNE since last November. Patiently waiting for that profit quarter or at least a break- even quarter. But, every quarter, the company looks worse.
As time drags on, the risks of something lousy happening keep growing. More competition coming into the market, Oil prices declining, which will take the pressure off the shippers to make the switch to Nat Gas. Nat Gas could rise, closing the gap between Oil and Nat. Gas. Somebody big, like Shell or Exxon getting into the business would squash CLNE like a bug.
CLNE's mis-steps in managing their profit statement combined with the increasing risks in the industry is taking the fun out of holding this stock.
thanks for examining the hoodoo of the voodoo . . it is about time for them to start executing on the potential . . . competition is the giant elephant in the room because of their lack of any proprietary tech or product source
my first cc for clne.....am I missing something or is it all good so far??? The outlook sounds upbeat and the financials are improving. Volume delivery's increasing and building many new station's. Let's hope Q&A is solid