NEW YORK (TheStreet) -- Clean Energy Fuels Corp. (CLNE) - Get Report stock is declining 8.14% to $3.17 on heavy trading volume on Friday morning, even though the company delivered financial results that exceeded expectations for the 2015 fourth quarter.

After Thursday's market close, the Newport Beach, CA-based natural gas fuel transportation provider reported earnings of 8 cents per share for the quarter ended December 31. Analysts surveyed by Thomson Reuters had estimated a loss of 9 cents per share.

Revenue declined 9.7% year-over-year to $119.35 million for the latest quarter but beat estimates of $102.77 million.

The company delivered 78.3 million gallons of natural gas during the last three months of 2015, up from 72.4 million gallons in the same period in 2014.

"We are encouraged by the many bright spots in our business, including the more than 100% increase in our Redeem renewable natural gas volumes in 2015, our substantial reductions in SG&A expenses, and the sustained strength of the refuse and transit markets," CEO Andrew Littlefair said in a statement.

So far today, 3.8 million shares of Clean Energy Fuels have exchanged hands, compared with its average daily volume of 1.7 million shares.

Separately, Clean Energy has a "sell" rating and a letter grade of D at TheStreet Ratings because of the company's poor profit margins, generally high debt management risk, disappointing stock performance and feeble earnings per share growth.

You can view the full analysis from the report here: CLNE

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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