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Clean Energy (CLNE) to Post Q1 Earnings: What's in Store?

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Clean Energy Corp. CLNE is set to report first-quarter 2021 results on May 6, after the market closes. This clean fuel provider company delivered a negative earnings surprise of 100% in the last reported quarter.

Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.

Factors at Play

During the quarter, Clean Energy opened a new fueling station in Whittier, CA. This is likely to have had a positive impact on earnings in the first quarter. The company also opened a new public fueling station in Carson, CA that will provide renewable natural gas to fuel trucks. This in turn is likely to have helped Clean Energy in cutting emissions. As a result, the company’s overall performance is likely to have got a boost.

During the quarter, Clean Energy entered into some joint ventures with industry majors like TOTAL and BP to produce more carbon neutral fuel over the long run. It is expected to have benefited from the gradual reopening of economic activities. This in turn is likely to have driven the demand for clean fuel in public transit markets.

Expectation

The Zacks Consensus Estimate for first-quarter 2021 earnings per share is currently pegged at a penny, which indicates growth of 200% from the year-ago reported figure.

What Our Quantitative Model Predicts

Our proven model does not conclusively predict an earnings beat for Clean Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below. You can see the complete list of today’s Zacks #1 Rank stocks here.

Clean Energy Fuels Corp. Price and EPS Surprise

Clean Energy Fuels Corp. Price and EPS Surprise
Clean Energy Fuels Corp. Price and EPS Surprise

Clean Energy Fuels Corp. price-eps-surprise | Clean Energy Fuels Corp. Quote

Earnings ESP: The company’s Earnings ESP is 0.00%.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Clean Energy currently carries a Zacks Rank #4 (Sell).

Stocks to Consider

Investors can consider a few players from the same sector that have the right combination of elements to post earnings beat in the to-be-reported quarter.

CenterPoint Energy CNP is set to release first-quarter 2021 results on May 6. It has an Earnings ESP of +4.52% and a Zacks Rank #3, presently.

Consolidated Edison ED is set to release first-quarter 2021 results on May 6. It has an Earnings ESP of +0.06% and a Zacks Rank #3, at present.

Duke Energy Corporation DUK is set to release first-quarter 2021 results on May 10. This #3 Ranked player has an Earnings ESP of +0.16% at present.

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Consolidated Edison Inc (ED) : Free Stock Analysis Report

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Duke Energy Corporation (DUK) : Free Stock Analysis Report

Clean Energy Fuels Corp. (CLNE) : Free Stock Analysis Report

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