EVgo (NASDAQ:EVGO) Issues Quarterly Earnings Results

EVgo (NASDAQ:EVGO) announced its earnings results on Wednesday. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.03, RTT News reports. The firm had revenue of $82.65 million for the quarter. The firm’s revenue was down 15.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.10) earnings per share.

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

• EVgo and Tesla agreed to deploy EVgo-branded Superchargers, which management expects to more than double EVgo’s addressable market by reaching both NACS and CCS drivers. The rollout begins this year, with Tesla building and operating the chargers while EVgo owns the assets, sets pricing, and selects locations.
• EVgo reported 19% year-over-year charging-network revenue growth to $61 million, while trailing-12-month charging gross margin reached 39%. The company ended the quarter with 5,380 operational stalls, more than 1.8 million customers, and approximately $835 million in available liquidity.
• Q2 total revenue fell 16% year over year to $83 million because eXtend and AV revenue declined sharply, while adjusted EBITDA was a loss of $10.6 million. Management also said the 2025 stall cohort is ramping more slowly than expected, legacy equipment remains soft, and OEM charging-credit customers are converting to retail users below expectations.
• EVgo reduced or adjusted its 2026 deployment assumptions, expecting 1,350–1,625 new stalls and 2026 revenue of $400 million–$430 million. The company now anticipates a full-year adjusted EBITDA loss of $25 million to $5 million, although it still expects positive adjusted EBITDA in Q4.
• Management maintained its long-term outlook for approximately $500 million of recurring adjusted EBITDA by 2030, supported by network expansion, rising throughput, and operating leverage. EVgo is also evaluating additional opportunities involving autonomous vehicles, acquisitions, geographic expansion, energy storage, demand response, and excess grid-connected capacity.

EVgo Stock Up 2.3%

EVGO stock traded up $0.04 during trading on Friday, hitting $1.55. 3,838,467 shares of the company’s stock traded hands, compared to its average volume of 4,066,811. EVgo has a 1 year low of $1.41 and a 1 year high of $5.18. The firm has a market capitalization of $488.05 million, a P/E ratio of -3.89 and a beta of 2.82. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 5.39. The business has a fifty day simple moving average of $1.85 and a two-hundred day simple moving average of $2.16.

EVgo News Roundup

Here are the key news stories impacting EVgo this week:

• Positive Sentiment: EVgo plans to install EVgo-branded Tesla V4 Superchargers at its charging stations, offering up to 500 kW of power and Magic Dock compatibility. The initiative could expand charging capacity, improve customer access and support network growth. EVgo Will Install Tesla Superchargers At Its Charging Stations
• Positive Sentiment: Management outlined a long-term plan to reach approximately $500 million in adjusted EBITDA by 2030, supported partly by the Tesla Supercharger strategy. The target offers investors a potential profitability narrative, though it remains several years away. EVgo outlines path to approximately $0.5 billion adjusted EBITDA by 2030
• Neutral Sentiment: Needham reiterated its “Hold” rating, indicating a cautious stance while the market assesses EVgo’s growth plans, capital needs and path to profitability. Needham reiterates Hold rating for EVgo
• Negative Sentiment: Royal Bank of Canada lowered its price target from $3.00 to $2.50, and Cantor Fitzgerald cut its target from $4.00 to $3.00. Both firms retained bullish ratings—“Outperform” and “Overweight”—but the reductions signal lower near-term expectations. RBC lowers EVgo price target Cantor Fitzgerald cuts EVgo price target
• Negative Sentiment: EVgo’s latest quarter showed a year-over-year revenue decline and continued losses, reinforcing concerns about execution and the time required for the company’s long-term profitability plan to materialize.

Hedge Funds Weigh In On EVgo

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in EVgo by 1.3% in the third quarter. Vanguard Group Inc. now owns 12,399,808 shares of the company’s stock valued at $58,651,000 after acquiring an additional 157,376 shares in the last quarter. State Street Corp boosted its stake in shares of EVgo by 59.3% during the fourth quarter. State Street Corp now owns 6,346,462 shares of the company’s stock worth $18,468,000 after buying an additional 2,362,435 shares during the period. Millennium Management LLC lifted its position in EVgo by 25.9% during the 1st quarter. Millennium Management LLC now owns 5,819,392 shares of the company’s stock worth $15,480,000 after acquiring an additional 1,195,470 shares during the period. Soros Fund Management LLC increased its stake in EVgo by 12.5% in the 4th quarter. Soros Fund Management LLC now owns 4,500,000 shares of the company’s stock valued at $13,095,000 after buying an additional 500,000 shares during the period. Finally, Invesco Ltd. raised its holdings in EVgo by 111.0% during the fourth quarter. Invesco Ltd. now owns 4,424,683 shares of the company’s stock worth $12,876,000 after purchasing an additional 2,327,545 shares in the last quarter. 17.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EVGO has been the subject of a number of analyst reports. JPMorgan Chase & Co. reissued an “underweight” rating on shares of EVgo in a research report on Tuesday, July 21st. Morgan Stanley set a $2.50 price objective on shares of EVgo in a report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research note on Wednesday. Weiss Ratings reiterated a “sell (e+)” rating on shares of EVgo in a research report on Wednesday, July 15th. Finally, Royal Bank Of Canada decreased their price target on shares of EVgo from $3.00 to $2.50 and set an “outperform” rating on the stock in a research note on Thursday. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.18.

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.