EVGO's fourth-quarter 2024 results reflect a narrower loss, 35% revenue growth YoY and a significant boost in charging network revenues.
EVgo, Inc. (NASDAQ:EVGO ) Q4 2024 Earnings Conference Call March 4, 2025 8:00 AM ET Company Participants Heather Davis - Vice President, Investor Relations Badar Khan - Chief Executive Officer Paul Dobson - Chief Financial Officer Conference Call Participants Bill Peterson - JPMorgan Chris Dendrinos - RBC Capital Markets Douglas Dutton - Evercore ISI Gabe Daoud - TD Cowen Patrick Ouellette - Stifel William Grippin - UBS Chris Pierce - Needham Operator Hello, and thank you for standing by. My name is Regina, and I will be your conference operator today.
EVgo Inc. (EVGO) came out with a quarterly loss of $0.11 per share versus the Zacks Consensus Estimate of a loss of $0.15. This compares to loss of $0.12 per share a year ago.
EVgo reports a fourth-quarter Ebitda loss of $8.4 million from sales of almost $68 million. Wall Street was looking for an Ebitda loss of about $8.7 million on sales of $69 million.
EVgo Inc EVGO will be reporting its fourth-quarter earnings on Tuesday. Wall Street expects a loss of 9 cents a share and $69.10 million in revenues as the company reports before market hours.
Electric vehicle sales were skyrocketing in the United States for a decade. Then, in 2023, this growth stalled out.
EV charging stocks should be thriving this year as the number of electric vehicles in the United States jump. Americans bought about 1.4 million EVs in 2024, a trend that may keep growing in the coming years.
EVgo stands out in the EV charging niche, growing rapidly with DOE loan approval, making it a strong long-term play despite near-term volatility. EVgo's focus on DC fast charging and its asset-light eXtend segment drive impressive growth, with revenues soaring from $22M in 2021 to $239M in Q3 2024. The DOE loan supports EVgo's expansion, potentially adding 10,600 new fast-charging stalls by 2029, with favorable repayment terms easing near-term liquidity pressures.
In this video, Motley Fool contributor Jason Hall explains why EV charging station company EVgo (EVGO -7.49%) stock has a shot at being a market beater, but there are serious reasons why the odds are not favorable.
EVgo (EVGO -7.49%) is at the forefront of a burgeoning industry. That is a good thing in some ways, but also a bad thing in others.
News of a fresh directive from the federal government sapped a lot of energy from electric vehicle (EV) charging stock EVgo (EVGO -7.49%) as the trading week came to a close. The company's shares tumbled by more than 7% on this development, a far steeper fall than the sub-1% decline of the S&P 500 (^GSPC -0.95%).
EVgo stock price has imploded in the past few months, erasing some of the gains made late last year. It crashed to a low of $3.50 on Tuesday, down by almost 62% from its highest level in 2024, bringing its market cap to over $1 billion.