EVgo (NASDAQ:EVGO) Announces Earnings Results

by · The Markets Daily

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

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 Price Performance

NASDAQ:EVGO traded up $0.04 during mid-day trading on Thursday, hitting $1.56. The company’s stock had a trading volume of 1,452,871 shares, compared to its average volume of 4,046,415. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 5.39. The company has a market capitalization of $491.19 million, a price-to-earnings ratio of -4.47 and a beta of 2.82. EVgo has a fifty-two week low of $1.41 and a fifty-two week high of $5.18. The stock has a fifty day moving average of $1.86 and a 200-day moving average of $2.17.

Analyst Upgrades and Downgrades

EVGO has been the subject of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of EVgo in a research report on Wednesday, July 15th. Cantor Fitzgerald cut their price target on shares of EVgo from $4.00 to $3.00 and set an “overweight” rating for the company in a report on Thursday. JPMorgan Chase & Co. reissued an “underweight” rating on shares of EVgo in a research note on Tuesday, July 21st. Royal Bank Of Canada lowered their price objective on shares of EVgo from $4.50 to $3.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of EVgo in a research report on Wednesday. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.72.

Read Our Latest Stock Report on EVGO

EVgo News Roundup

Here are the key news stories impacting EVgo this week:

  • Positive Sentiment: New Tesla Supercharger deployment: EVgo plans to install EVgo-branded Tesla V4 Superchargers at its U.S. charging stations. The units can deliver up to 500 kilowatts and 1,000 volts, potentially improving charging speed, site utilization and customer appeal. EVgo Expands Fast Charging in the U.S. with Supercharger Deployment
  • Positive Sentiment: Long-term profitability target: EVgo outlined a plan to reach approximately $500 million in adjusted EBITDA by 2030. Management also highlighted continued network growth and plans to add more than 500 charging stalls through its Brixmor partnership, supporting the company’s longer-term revenue opportunity. EVgo outlines path to approximately $500 million adjusted EBITDA by 2030
  • Positive Sentiment: Charging operations continued to grow: Q2 charging-network revenue increased 19% year over year to $61 million, while network throughput rose 13% to 99 gigawatt-hours. This marked the 18th consecutive quarter of double-digit charging-revenue growth. EVgo Inc. Reports Second Quarter 2026 Results
  • Neutral Sentiment: Mixed analyst signals: Cantor Fitzgerald lowered its price target from $4 to $3 but retained an “overweight” rating, while Needham reaffirmed its “hold” rating. The lower target reflects more cautious near-term expectations despite substantial implied upside from recent trading levels.
  • Negative Sentiment: Revenue outlook missed expectations: EVgo reported Q2 revenue of $82.65 million, down 15.7% year over year, and guided for 2026 revenue of $400 million to $430 million versus consensus of $433.2 million. The company also posted a $0.15-per-share loss, although that was better than the expected $0.18 loss and therefore partially offset the negative outlook. EVgo Reports Q2 Loss, Tops Revenue Estimates

Institutional Investors Weigh In On EVgo

Large investors have recently made changes to their positions in the company. Advisors Asset Management Inc. raised its position in EVgo by 7.4% during the 4th quarter. Advisors Asset Management Inc. now owns 70,388 shares of the company’s stock worth $205,000 after purchasing an additional 4,826 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in EVgo by 22.5% during the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 26,798 shares of the company’s stock valued at $78,000 after buying an additional 4,926 shares in the last quarter. Quarry LP raised its position in shares of EVgo by 145.0% in the fourth quarter. Quarry LP now owns 9,307 shares of the company’s stock worth $27,000 after buying an additional 5,508 shares in the last quarter. DRW Securities LLC increased its position in shares of EVgo by 19.2% in the fourth quarter. DRW Securities LLC now owns 39,655 shares of the company’s stock worth $115,000 after purchasing an additional 6,389 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in EVgo by 18.6% in the second quarter. The Manufacturers Life Insurance Company now owns 46,791 shares of the company’s stock valued at $171,000 after purchasing an additional 7,331 shares in the last quarter. Institutional investors own 17.44% of the company’s stock.

About EVgo

(Get Free Report)

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.

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