You're right. September 11th is both evaluation and selection committee:
Event: RFP-00096 Compressed Natural Gas Program for MDT
Event Date: 09/11/15 01:30PM
Contact #: 3053751081
Location: 111 NW 1st Street
The press release this week may have been aimed at setting up some narrative for these evaluation meetings. The 7 million annual DGE's reported is only a bit more than 2% of Clean Energy's annualizes sales, but it still reads like a huge and impressive amount -- certainly compared to the competition.
Event: RFP-00168 - Evaluation Meeting No. 1
Event Date: 08/26/15 09:00AM
Contact #: 305-375-1084
Event: RFP-00168 - Evaluation Meeting No. 2
Event Date: 08/27/15 09:00AM
Contact #: 305-375-1084
I imagine that this is a very, very low margin deal, last month and this month. Still, I find it VERY impressive that they have the deal, because it means that an outfit as omnipotent as PG&E would turn to Clean Energy to source its LNG. That says a WHOLE LOT -- all really great for the future.
Andrew L. is to CLNE exactly what Peter Cartwright was to Calpine.
A reckless dreamer, and a #$%$-poor leader.
Worldwide consumption of oil equivalents equals the burning of an Olympic-sized pool of oil every 5.8 seconds. Only a Republican would be dumb enough to think that's environmentally sustainable -- as the Earth bakes.
No doubt. That's why I say that if the Saudis want to own a big chunk of the CNG future, they are doing exactly what they should be doing -- pile-driving the industry with exclusive knowledge of when they alone can and will say Uncle.
Nothing to prevent the Saudis from driving CLNE into the ground and then buying the residue. It alone knows when it will cut back on its production a little or a whole lot.
Move to a cheaper location?
They moved last year from Seal Beach, California (very expensive), to Newport Beach, California -- which is the most expensive spot in Southern California.
Next, they move the HQ to San Tropez.
They won't have long to wait now.
Good question. The transcript of the conference call indicated more like 13% RNG by volume, which I thought was really impressive. I think that it was covering the first 6 months of the year, however. They sold the Dallas facility, but it should not have been 25% RNG in Q1 and 2% in Q2.
Even a 17% year-over-year increase does not compound into a double every two years. More like every seven or eight years.
It's WAY overdone based on the results. I'll add way more if it drops to $4.50 range.
Bad things about the results: Volume growth not great, but not surprising given the price compression. The best news on volume is that Redeem is 13% of sales by volume, far more than I would have guessed. That bodes really, really well. Stock option expense sucks, but let's leave that one to the teach.
The good news: Margin compression was not too bad, given the oil prices. Diesel ain't going back up, but we can live with the spread where it is if volume keeps on chugging. All indicators are that volume will keep chugging. The EBITBA hurdle means little to me, but it's progress.
If the $6.4 million in deferred revenue had hit in this quarter, the loss would have been $.22 non-GAAP, $.26 GAAP. With the recent actions in Washington not yet reflected in any results, I would say that's great and going in the right direction.