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Clean Energy (CLNE) to Post Q2 Earnings: What's in Store?

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Clean Energy Corp. (CLNE - Free Report) is set to report second-quarter 2021 results on Aug 5, after the market closes. This clean fuel provider company delivered a negative earnings surprise of 200% in the last reported quarter.

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

Factors at Play

In the second quarter, Clean Energy entered into new renewable natural gas contracts, as fleets across North America continue to increasingly adopt the clean, low-carbon fuel to power heavy- and medium-duty trucks. All these deals are likely to have boosted earnings.

During the quarter, Clean Energy entered into agreements with industry majors like Amazon and Chevron to provide clean renewable natural gas from its fueling stations as well as lower emissions over the long run.

Expectation

The Zacks Consensus Estimate for second-quarter 2021 is pegged at breakeven earnings, indicating a turnaround from a loss of 2 cents reported in the year-ago period.

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-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.

NRG Energy Inc. (NRG - Free Report) is expected to beat second-quarter earnings estimates when it reports quarterly results on Aug 5, 2021. The company has an Earnings ESP of +33.09% and a Zacks Rank of 3, at present.  

Consolidated Edison (ED - Free Report) is expected to beat second-quarter earnings estimates when it reports quarterly results on Aug 5, 2021. The company has an Earnings ESP of +1.61% and a Zacks Rank of 3, at present.  

Dominion Energy (D - Free Report) is expected to beat second-quarter earnings estimates when it reports quarterly results on Aug 6, 2021. The company has an Earnings ESP of +2.67% and a Zacks Rank of 3, at present.