Clean Energy Fuels (NASDAQ: CLNE) saw its stock soar nearly 13% on the stock exchange after exceeding analyst estimates in its latest quarterly results. Revenue for the second quarter reached $102.6 million, up almost 5% year-over-year. Adjusted net income fell to $337,000, less than $0.01 per share.

Analysts had predicted lower figures, with average estimates at slightly over $94 million in revenue and a net loss of $0.06 per share. CEO Andrew Littlefair highlighted the strong demand for RNG as the most cost-effective clean transportation fuel, with the recent government bill supporting the RNG market.

Clean Energy Fuels secured new supply agreements with municipal transit fleets like LA Metro during the quarter, showcasing potential growth in its niche market. Investors are advised to monitor the company’s progress in this segment. The Motley Fool’s Stock Advisor team did not include Clean Energy Fuels in their top 10 stock recommendations for potential high returns.

Read more at Yahoo Finance: Why Clean Energy Fuels Stock Raced Nearly 13% Higher Today