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

Key Points

• EVE beat earnings expectations, reporting a quarterly loss of $0.10 per share versus the consensus estimate of a $0.18 loss.
• Flight testing has resumed following software and ground-testing upgrades, with full transition expected by year-end. The certification timeline remains intact for a crewed prototype flight in the second half of 2027 and entry into service in 2028.
• EVE reported $531 million in total liquidity, enough to fund operations through 2028 according to management, while its pre-order backlog grew to roughly 2,700 aircraft valued at $13.5 billion at list prices.

EVE (NYSE:EVEX - Get Free Report) announced its earnings results on Tuesday. The company reported ($0.10) EPS for the quarter, beating the consensus estimate 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%

EVE stock traded up $0.41 during mid-day trading 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 firm's 50 day moving average is $2.66 and its 200 day moving average is $2.96. The company has a market cap of $980.46 million, a PE ratio of -3.88 and a beta of 1.14. The company has a debt-to-equity ratio of 5.45, a current ratio of 3.80 and a quick ratio of 3.80. EVE has a 52-week low of $2.10 and a 52-week high of $6.83.

Hedge Funds Weigh In On EVE

Several institutional investors and hedge funds have recently bought and sold shares of EVEX. 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 purchasing an additional 3,121 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in EVE in the 2nd quarter worth approximately $69,000. Schonfeld Strategic Advisors LLC purchased a new stake in EVE in the 3rd quarter worth approximately $42,000. Mariner LLC acquired a new stake in shares of EVE during the 4th quarter valued at $49,000. Finally, Abel Hall LLC acquired a new stake in shares of EVE during the 4th quarter valued at $54,000. Hedge funds and other institutional investors own 1.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Canaccord Genuity Group dropped their price target on EVE from $7.50 to $7.25 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Weiss Ratings reiterated a "sell (e+)" rating on shares of EVE in a report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $6.02.

EVE Company Profile

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.

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