Company Performance - EVgo Inc. reported a quarterly loss of $0.11 per share, slightly worse than the Zacks Consensus Estimate of a loss of $0.10, and compared to a loss of $0.09 per share a year ago, indicating an earnings surprise of -10% [1] - The company posted revenues of $67.54 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.66%, and showing significant growth from year-ago revenues of $35.11 million [2] - Over the last four quarters, EVgo has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Stock Performance - EVgo shares have increased approximately 50.8% since the beginning of the year, outperforming the S&P 500's gain of 25.8% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.10 on revenues of $67.94 million, and for the current fiscal year, it is -$0.40 on revenues of $258.74 million [7] Industry Outlook - The Automotive - Original Equipment industry, to which EVgo belongs, is currently ranked in the bottom 26% of over 250 Zacks industries, suggesting potential challenges ahead [8] - The outlook for the industry can significantly impact the performance of EVgo's stock, as historical data shows that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8]

A new presidential administration could bring headaches for renewable energy.Renewable energy stocks dropped like a rock this week after Donald Trump was elected to another term as president and Republicans won control of the Senate. The speculation is that generous subsidies that have helped solar, electric vehicle (EV), and charging companies over the past four years will be halted, and that could put tremendous strain on the industry.According to data provided by S&P Global Market Intelligence, SolarEdge ...

U.S. stock futures were higher this morning, with the Dow futures gaining over 50 points on Friday. Shares of Rivian Automotive, Inc. RIVN fell sharply in today's pre-market trading after the company lowered its annual production guidance due to supply shortage of shared component on the R1 and RCV platforms. The company produced 13,157 vehicles at its manufacturing facility in Normal, Illinois, and delivered 10,018 cars during the same period. Rivian is experiencing a supply shortage that began in the thir ...

Company Overview - EVgo Inc. (EVGO) shares increased by 60.8% to close at $6.32, following a $1.05 billion conditional loan guarantee from the U.S. Department of Energy to expand its charging network [1] - The company plans to install approximately 7,500 new fast-charging stations nationwide by 2030 [1] Financial Performance - EVgo is expected to report a quarterly loss of $0.10 per share, reflecting an 11.1% decrease year-over-year [2] - Revenue expectations for the upcoming quarter are $66.45 million, which represents an 89.3% increase compared to the same quarter last year [2] Earnings Estimates - The consensus EPS estimate for EVgo has been revised 3.3% lower over the last 30 days [3] - A negative trend in earnings estimate revisions typically does not lead to price appreciation, indicating potential caution for future stock performance [3] Industry Context - EVgo operates within the Zacks Automotive - Original Equipment industry, which includes other companies like Driven Brands Holdings Inc. (DRVN) [3] - Driven Brands Holdings has an unchanged consensus EPS estimate of $0.22 for the upcoming report, representing a 10% increase from the previous year [4]

Core Insights - EVgo Inc. has secured a conditional loan guarantee of up to $1.05 billion from the U.S. Department of Energy to expand its electric vehicle charging network, resulting in a 60.81% increase in its stock price, the largest gain in over three years [1] Group 1: Funding and Expansion Plans - The financing will be used to install approximately 7,500 fast chargers across several U.S. states, including Arizona, California, Florida, Georgia, and Illinois, supporting the Biden administration's goal of establishing a national network of over 500,000 electric vehicle chargers by 2030 [2] - Low-cost financing is crucial for boosting electric vehicle adoption in the U.S., where charging equipment is significantly more expensive than in other regions, with incentives expected to reduce installation costs for operators [2] Group 2: Market Position and Partnerships - JPMorgan upgraded EVgo's rating from "neutral" to "overweight," indicating that companies like EVgo, which own and operate their charging infrastructure, are likely to outperform their peers [3] - EVgo currently operates nearly 1,000 fast-charging stations nationwide and has partnered with General Motors (GM) to install an additional 400 charging stations [3]

As the electric vehicle (EV) industry pursues mainstream adoption, the demand for robust charging infrastructure is more critical than ever. With global efforts to combat climate change and reduce reliance on fossil fuels, governments, automakers and technology providers are focused on building a system that supports electric mobility. This shift is reshaping the auto industry and driving investment in charging networks, battery technology, and renewable energy sources. On Thursday (Oct. 3) EVgo, an electri ...

Key Takeaways EVgo received a conditional $1.05 billion loan guarantee from the Department of Energy to install public EV charging stations. The company expects to put 7,500 fast-charging stalls around the U.S. by 2030. JPMorgan upgraded EVgo's stock, saying it will outperform its rivals' shares in the next few years. EVgo (EVGO) shares soared 50% Thursday after the electric vehicle (EV) charging station provider received a $1.05 billion conditional government loan guarantee to install public EV chargers. T ...

Core Insights - EVgo Inc is positioned to outperform in the electric vehicle (EV) charging sector, while ChargePoint Holdings Inc is struggling to maintain momentum [1] EVgo - EVgo has a scalable business model and higher utilization rates, benefiting from its owner-operator model which allows it to thrive even in a slower EV sales environment [2] - The company has shown solid results with network throughput growth, stable margins, and improved operating leverage, and it is expected to become profitable by the end of 2025, supported by a potential Department of Energy loan [3] - A price target of $7 reflects an optimistic outlook for EVgo, which is on a Positive Catalyst Watch [3] - EVgo's ability to control its own growth and utilization distinguishes it from competitors, positioning it as a leader in the EV charging market [6] ChargePoint - ChargePoint's business model is heavily reliant on hardware sales, which have been adversely affected by slower-than-expected EV adoption [4] - Concerns about ChargePoint's profitability and future growth visibility have led to a downgrade to 'Underweight' [4] - The company's high software margins are not sufficient to offset the underperformance of its hardware business, which has not scaled adequately [5] - ChargePoint's dependence on third-party site hosts for charger expansion exposes it to risks, particularly as demand from fleet and commercial customers remains weak [5]

EVgo Inc (NASDAQ:EVGO) stock is 33.8% higher premarket, looking to open at $5.26 after a bull note from J.P. Morgan Securities. The firm upgraded the electric vehicle (EV) charging name to "overweight" from "natural," noting the company's fast-charging owner-operator model is scaling well with more utilization. In addition, the U.S. will grant EVgo a conditional loan guarantee of up to $1.05 billion to expand its public EV charging infrastructure. Coming into today, six of 13 covering brokerages rated EVgo ...

Core Viewpoint - EVgo is experiencing significant growth in charging revenue and network expansion, but it still faces challenges in achieving profitability and infrastructure costs [3][4][19]. Financial Performance - In Q2 2024, EVgo reported revenue of $66.6 million, a 32% increase compared to Q2 2023 [4]. - The charging network expanded to 66 GWh, representing a 164% year-over-year growth from 24 GWh [4]. - The company exceeded EPS estimates by 12%, but recorded a net loss of $29.6 million, a 49% increase from Q2 2023 [4]. - Adjusted EBITDA was negative at $8.0 million, with a loss per share of $0.098, worsening from $0.082 in the previous year [4]. Market Position and Competition - EVgo operates 3,440 charging stalls, a 37% increase, but still lags behind competitors like Tesla, which has 45,000 superchargers [8][15]. - ChargePoint, with a market capitalization of $1.79 billion, poses significant competition to EVgo's $1.11 billion valuation [16]. - Customer satisfaction scores indicate EVgo ranks lower than its peers, with a score of 566 compared to ChargePoint's 627 and Tesla's 731 [16]. Industry Trends - The demand for electric vehicles (EVs) is expected to grow significantly between 2025 and 2040, but current economic conditions and high installation costs for charging infrastructure present challenges [5][10]. - The U.S. government has allocated $5 billion to support the installation of charging networks, which is crucial for EVgo's expansion plans [9]. Future Outlook - EVgo is projected to grow at an average annual rate of 26% over the next three years, but profitability remains uncertain [4][19]. - The company is focused on enhancing its fast-charging network and improving customer experience to strengthen its competitive position [17][18].