EVgo (NASDAQ:EVGO) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Key Points

• EVgo beat quarterly EPS expectations, reporting a $0.15 loss per share versus the projected $0.18 loss. However, total revenue declined 15.7% year over year to $83 million, and the stock fell 11.3% to $1.53.
• Core charging-network revenue grew 19% to $61 million, supported by higher throughput, 5,380 operational stalls and more than 1.8 million customers. EVgo also expanded its growth plans through partnerships with Tesla, Brixmor and other charging providers.
• Management lowered its 2026 outlook to $400 million–$430 million in revenue and a $25 million loss to $5 million loss in adjusted EBITDA, citing slower stall-cohort growth and weakness in non-network businesses. The company nevertheless maintained its long-term target of approximately $500 million in recurring adjusted EBITDA by 2030.

EVgo (NASDAQ:EVGO - Get Free Report) issued its earnings results on Wednesday. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.03, RTT News reports. During the same period in the prior year, the firm earned ($0.10) earnings per share. The firm's revenue for the quarter was down 15.7% compared to the same quarter last year.

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 Trading Down 11.3%

Shares of EVgo stock traded down $0.20 during trading on Wednesday, hitting $1.53. 7,832,508 shares of the company were exchanged, compared to its average volume of 4,051,903. The company has a debt-to-equity ratio of 5.39, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a market capitalization of $481.78 million, a P/E ratio of -4.39 and a beta of 2.82. The firm's fifty day moving average price is $1.87 and its 200 day moving average price is $2.18. EVgo has a 1-year low of $1.41 and a 1-year high of $5.18.

Key Stories Impacting EVgo

Here are the key news stories impacting EVgo this week:

• Positive Sentiment: EVgo reported a second-quarter loss of $0.15 per share, better than the $0.18 loss expected by analysts, although the loss widened from $0.10 per share a year earlier. EVgo Reports Q2 Loss, Tops Revenue Estimates
• Positive Sentiment: Charging-network revenue increased 19% year over year to $61 million, marking the 18th consecutive quarter of double-digit growth. Network throughput also rose 13% to 99 gigawatt-hours, indicating continued demand for EVgo’s chargers. EVgo Reports Second Quarter 2026 Results
• Positive Sentiment: EVgo is expanding its network through partnerships. Its agreement with Brixmor is expected to add more than 500 fast-charging stalls at over 90 shopping centers, while the Pilot-General Motors-EVgo network has surpassed 300 locations and 1,300 stalls across 40 states. EVgo and Brixmor Expand Partnership
• Positive Sentiment: The company plans to deploy V4 EVgo Superchargers capable of up to 500 kilowatts and 1,000 volts, potentially improving charging speed and network competitiveness. EVgo Expands Fast Charging
• Neutral Sentiment: Management’s Q2 earnings call provided additional commentary on operating performance, network expansion and the company’s outlook. EVgo Q2 2026 Earnings Call Transcript
• Negative Sentiment: Reported revenue declined 15.7% year over year, signaling weakness outside the core charging-network business despite solid network revenue growth. EVgo Earnings Results
• Negative Sentiment: EVgo guided to fiscal 2026 revenue of $400 million to $430 million, below the approximately $433.2 million analyst consensus. The lower outlook offsets the quarterly EPS beat and is the clearest near-term pressure on the shares. EVgo Q2 Key Metrics

Institutional Investors Weigh In On EVgo

Large investors have recently bought and sold shares of the company. Quarry LP boosted its position in shares of EVgo by 145.0% during the fourth quarter. Quarry LP now owns 9,307 shares of the company's stock worth $27,000 after purchasing an additional 5,508 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of EVgo in the 4th quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd increased its stake in EVgo by 4,903.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 9,856 shares of the company's stock worth $29,000 after purchasing an additional 9,659 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in EVgo during the 3rd quarter worth approximately $49,000. Finally, Balyasny Asset Management L.P. bought a new position in EVgo in the fourth quarter valued at approximately $32,000. Institutional investors own 17.44% of the company's stock.

Wall Street Analyst Weigh In

EVGO has been the subject of a number of analyst reports. Wall Street Zen cut shares of EVgo from a "sell" rating to a "strong sell" rating in a research note on Saturday, May 9th. Weiss Ratings reissued a "sell (e+)" rating on shares of EVgo in a report on Wednesday, July 15th. Royal Bank Of Canada cut their target price on shares of EVgo from $4.50 to $3.00 and set an "outperform" rating for the company in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. reaffirmed an "underweight" rating on shares of EVgo in a report on Tuesday, July 21st. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $5.28.

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.

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