Investors in Clean Energy Fuels Corp. (NASDAQ:CLNE) had a good week, as its shares rose 7.6% to close at US$2.97 following the release of its quarterly results. Revenues of US$98m came in 8.0% below estimates, but statutory losses were well contained with a per-share loss of US$0.07 being some 16% smaller than what the analysts were predicting. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.

Check out our latest analysis for Clean Energy Fuels

Taking into account the latest results, the current consensus from Clean Energy Fuels' seven analysts is for revenues of US$416.7m in 2024. This would reflect a credible 3.1% increase on its revenue over the past 12 months. Losses are expected to be contained, narrowing 11% from last year to US$0.31. Before this latest report, the consensus had been expecting revenues of US$430.0m and US$0.34 per share in losses. It looks like there's been a modest increase in sentiment in the recent updates, with the analysts becoming a bit more optimistic in their predictions for losses per share, even though the revenue numbers fell somewhat.

The consensus price target was broadly unchanged at US$7.08, implying that the business is performing roughly in line with expectations, despite adjustments to both revenue and earnings estimates. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. There are some variant perceptions on Clean Energy Fuels, with the most bullish analyst valuing it at US$10.00 and the most bearish at US$4.00 per share. Note the wide gap in analyst price targets? This implies to us that there is a fairly broad range of possible scenarios for the underlying business.

Of course, another way to look at these forecasts is to place them into context against the industry itself. The period to the end of 2024 brings more of the same, according to the analysts, with revenue forecast to display 6.3% growth on an annualised basis. That is in line with its 7.8% annual growth over the past five years. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 1.8% annually. So although Clean Energy Fuels is expected to maintain its revenue growth rate, it's definitely expected to grow faster than the wider industry.

The Bottom Line

The most obvious conclusion is that the analysts made no changes to their forecasts for a loss next year. They also downgraded Clean Energy Fuels' revenue estimates, but industry data suggests that it is expected to grow faster than the wider industry. Even so, long term profitability is more important for the value creation process. The consensus price target held steady at US$7.08, with the latest estimates not enough to have an impact on their price targets.

With that in mind, we wouldn't be too quick to come to a conclusion on Clean Energy Fuels. Long-term earnings power is much more important than next year's profits. We have forecasts for Clean Energy Fuels going out to 2026, and you can see them free on our platform here.

Don't forget that there may still be risks. For instance, we've identified 2 warning signs for Clean Energy Fuels that you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.