EVgo (NASDAQ:EVGO) Issues Earnings Results, Beats Expectations By $0.02 EPS

EVgo (NASDAQ:EVGO) released its quarterly earnings data on Tuesday. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02, FiscalAI reports. The company had revenue of $109.53 million for the quarter. The company’s quarterly revenue was up 45.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) earnings per share.

Here are the key takeaways from EVgo’s conference call:

• EVgo reported a record Q1 with $110 million revenue (up 45% YoY), 91 GWh public-network throughput, 5,280 stalls in operation and 200 new stalls added, signaling continued network growth and customer demand despite an adjusted EBITDA loss of -$7 million as the company invests in expansion.
• An amended DOE loan (now sized to $750M including $625M borrowings) and a $300M commercial facility materially improve liquidity — EVgo received an $81M advance on May 1 and says it has about $640M available principal capacity across facilities to fund its build plan.
• Management progressed its next‑generation charging architecture (first system build, successful vehicle charging with company controllers, and reliability testing) with a field rollout expected by year‑end; they expect lower CapEx per stall, improved reliability and long‑term unit economics that support a target of ~$500M recurring adjusted EBITDA by 2030, and are rolling out NACS to expand addressable market.
• 2026 guidance was reaffirmed — total revenue of $410M–$470M, adjusted EBITDA of -$20M to $20M, and 1,400–1,650 new stalls (back‑half weighted, with Q2 the softest and Q4 the strongest), keeping the company’s growth trajectory intact but front‑loaded seasonality and timing risks present.
• Near‑term margin and throughput headwinds — charging network gross margin slipped (36% in Q1) and adjusted gross margin declined as non‑charging revenue mix rose; throughput per stall was ~3.5% lower YoY due to new‑stall ramp, legacy equipment underuse and weather, and adjusted G&A rose 19%, contributing to the Q1 adjusted EBITDA loss.

EVgo Stock Down 1.3%

Shares of EVGO traded down $0.03 during trading hours on Thursday, reaching $1.92. The stock had a trading volume of 2,034,362 shares, compared to its average volume of 4,109,808. EVgo has a 52 week low of $1.64 and a 52 week high of $5.18. The firm has a 50-day moving average of $2.11 and a 200 day moving average of $2.84. The company has a market cap of $599.56 million, a P/E ratio of -5.47 and a beta of 2.82.

Hedge Funds Weigh In On EVgo

A number of large investors have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL acquired a new stake in EVgo in the 3rd quarter valued at about $8,165,000. Federated Hermes Inc. raised its holdings in EVgo by 211.0% in the 3rd quarter. Federated Hermes Inc. now owns 1,003,689 shares of the company’s stock valued at $4,747,000 after acquiring an additional 681,011 shares during the period. Pictet Asset Management Holding SA raised its holdings in EVgo by 78.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,273,200 shares of the company’s stock valued at $6,615,000 after acquiring an additional 996,815 shares during the period. HITE Hedge Asset Management LLC raised its holdings in EVgo by 13.8% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 2,946,791 shares of the company’s stock valued at $13,938,000 after acquiring an additional 356,614 shares during the period. Finally, Abacus Wealth Partners LLC bought a new position in EVgo in the 4th quarter valued at about $50,000. Institutional investors own 17.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada decreased their price objective on EVgo from $4.50 to $3.00 and set an “outperform” rating on the stock in a report on Wednesday. Stifel Nicolaus decreased their price objective on EVgo from $7.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Cantor Fitzgerald decreased their price objective on EVgo from $7.00 to $6.00 and set an “overweight” rating on the stock in a report on Wednesday, March 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EVgo in a report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of EVgo in a report on Wednesday, March 25th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $5.28.

EVgo Company Profile

EVgo operates one of the largest public electric vehicle (EV) fast-charging networks in the United States, delivering direct current (DC) fast charging and Level 2 charging services to passenger vehicles and commercial fleets. The company’s charging stations are strategically located in urban centers, suburban shopping areas, workplace parking facilities, and along major highway corridors, enabling convenient access for EV drivers and promoting long-distance travel.

The company offers a suite of charging solutions, including subscription plans, pay-per-use options, and fleet charging services tailored to the needs of ride-hailing, delivery, and corporate vehicle fleets.