Overview
EVgo Q3 revenue rises 37% yr/yr, beating analyst expectations
Company achieved record charging network revenue, up 33% yr/yr
EVgo added over 280 new charging stalls in Q3
Outlook
EVgo expects 2025 revenue between $350 mln and $405 mln
Company anticipates positive Adjusted EBITDA supported by a fully financed growth plan
EVgo plans to expand charging stations across the U.S. in Q4
Result Drivers
CHARGING NETWORK REVENUE - Record $55.8 mln in Q3, marking 15th consecutive quarter of double-digit growth
NETWORK THROUGHPUT - Reached a record 95 GWh in Q3, up 25% yr/yr
STALL EXPANSION - Added over 280 new stalls in Q3, ending with 4,590 stalls, up 25% yr/yr
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $92.30 mln | $91.20 mln (9 Analysts) |
Q3 EPS | -$0.09 | ||
Q3 Net Income | -$28.36 mln | ||
Q3 Adjusted EBITDA | -$4.98 mln | ||
Q3 Adjusted Gross Margin | 28.90% | ||
Q3 Adjusted Gross Profit | $26.65 mln | ||
Q3 Capex | $26.15 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
Wall Street's median 12-month price target for EVgo Inc is $6.20, about 44.8% above its November 7 closing price of $3.42
Press Release: ID:nGNX4SyPh8
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)