EVE (NYSE:EVEX) Announces Earnings Results, Beats Expectations By $0.08 EPS

EVE (NYSE:EVEX) issued its earnings results on Tuesday. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.08, Zacks reports.

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

• Flight testing has resumed after software upgrades and ground testing, with Eve’s prototype reaching partial transition at 30 knots. The company expects to complete full transition by year-end after roughly 30–40 additional flights.
• Eve reported $403 million in cash and $531 million of total liquidity, which management believes is sufficient to fund operations through 2028 without new financing. Embraer-related synergies and cost avoidance are expected to contribute $100 million–$150 million over 2026–2028.
• The certification program remains on schedule for a first crewed conforming-prototype flight in the second half of 2027 and entry into service in 2028, subject to completing design reviews, building six conforming aircraft, and approximately 12 months of subsequent flight testing.
• Eve added two LOIs totaling 46 aircraft at the Farnborough Airshow, bringing its pre-order backlog to approximately 2,700 aircraft valued at $13.5 billion at list price. Management highlighted growing interest from both operators and leasing companies.
• Second-quarter R&D expense fell to $29 million and net loss was $34 million, but management expects R&D to return to roughly $50 million per quarter. First-half cash burn was $118 million, with full-year consumption still expected near the midpoint of the $225 million–$275 million guidance range.

EVE Stock Up 17.3%

Shares of EVEX stock traded up $0.41 on Tuesday, hitting $2.81. The company’s stock had a trading volume of 572,131 shares, compared to its average volume of 1,178,205. The stock has a market capitalization of $980.46 million, a price-to-earnings ratio of -3.88 and a beta of 1.14. EVE has a fifty-two week low of $2.10 and a fifty-two week high of $6.83. The firm’s fifty day moving average price is $2.66 and its 200-day moving average price is $2.96. The company has a debt-to-equity ratio of 5.45, a current ratio of 3.80 and a quick ratio of 3.80.

Hedge Funds Weigh In On EVE

Several institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its position in shares of EVE by 144.8% in the second quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company’s stock worth $36,000 after buying an additional 3,121 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of EVE during the 2nd quarter valued at about $69,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of EVE during the 3rd quarter valued at about $42,000. Mariner LLC bought a new position in shares of EVE in the 4th quarter valued at approximately $49,000. Finally, Abel Hall LLC bought a new position in shares of EVE in the 4th quarter valued at approximately $54,000. 1.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EVEX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVE in a research note on Tuesday, July 21st. Canaccord Genuity Group lowered their price target on EVE from $7.50 to $7.25 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.02.

About EVE

Eve Holding, Inc (NYSE: EVEX) is the publicly traded parent of Eve Air Mobility, a company dedicated to developing sustainable urban air mobility solutions. Through its engineering and design capabilities, Eve focuses on creating electric vertical takeoff and landing (eVTOL) aircraft tailored for short-haul passenger and cargo transport in densely populated areas.

The company’s flagship offering is an eVTOL aircraft designed to deliver clean, quiet and efficient point-to-point service, backed by an integrated digital platform for air traffic management.