The company posted a loss of 25 cents a share for the fourth quarter, wider than analysts' estimates of a loss of 20 cents a share. Revenue fell 14.2% from the year-ago period to $85 million, missing analysts' estimates of $92.6 million.
In a press release announcing the quarterly results, Clean Energy President and CEO Andrew J. Littlefair said that 2013 "will go down as the year the heavy-duty trucking industry began its transition to natural gas in a meaningful way."
"Over the last year, we made significant strides in building out our fueling infrastructure, establishing relationships with new customers and expanding our relationships with existing customers," Littlefair said. "We believe this will enable Clean Energy to capture a substantial share of the new and large trucking market, as well as extending our existing market position in the more established natural gas markets of refuse, transit and airports."
Must read: CLNE Stock Crowded With Sellers
TheStreet Ratings team rates CLEAN ENERGY FUELS CORP as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about its recommendation:
"We rate CLEAN ENERGY FUELS CORP (CLNE) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself, unimpressive growth in net income, generally high debt management risk and feeble growth in its earnings per share."