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EVgo Inc. (EVGO) Reports Q3 Loss, Tops Revenue Estimates
EVGOEVgo (EVGO) ZACKS·2024-11-12 14:21

Company Performance - EVgo Inc. reported a quarterly loss of 0.11pershare,slightlyworsethantheZacksConsensusEstimateofalossof0.11 per share, slightly worse than the Zacks Consensus Estimate of a loss of 0.10, and compared to a loss of 0.09pershareayearago,indicatinganearningssurpriseof−100.09 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 35.11million[2]−Overthelastfourquarters,EVgohassurpassedconsensusEPSestimatesthreetimesandtoppedconsensusrevenueestimatesfourtimes[2]StockPerformance−EVgoshareshaveincreasedapproximately50.835.11 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 67.94million,andforthecurrentfiscalyear,itis−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]