EVgo shares surge higher as sales nearly triple in Q4 [Seeking Alpha]
EVgo Inc. (EVGO)
Company Research
Source: Seeking Alpha
Shares are higher by 17% and have nearly pierced its 200-day moving average for the first time since August. “EVgo had a fantastic 2023 as we relentlessly focused on customer experience, a digital-first approach, and station development resulting in revenue growth that nearly tripled,” said CEO Badar Khan, adding that EVgo “passed an important inflection point in 2023 in that as a result of the utilization and throughput levels we are now seeing across our network, the installed base is now profitable on a stand-alone basis.” For the fourth quarter ended Dec. 31, the EV charging network operator reported a loss of $0.12 per share, widening from a loss of $0.06 in the same quarter last year, on revenue of $50M. This missed EPS estimates by a penny but beat on revenue by $5.69M. Adjusted EBITDA of ($14M) narrowed from a loss of $20M year-over-year, while the EBITDA margin narrowed to -27.9% from -73.5%. Cash and cash equivalents declined by 15% to $209M. Within the company's
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EVGO
News
- Motiv Names Scott Griffith as Chief Executive Officer and Board MemberGlobeNewswire
- EVgo Doubles Down on Commitment to Begin NACS Deployments in 2024 [Yahoo! Finance]Yahoo! Finance
- EVgo Doubles Down on Commitment to Begin NACS Deployments in 2024Business Wire
- EVgo, Inc. (NYSE: EVGO) had its price target lowered by analysts at Evercore ISI from $8.00 to $7.00. They now have an "outperform" rating on the stock.MarketBeat
- EVgo, Inc. (NYSE: EVGO) had its price target lowered by analysts at Citigroup Inc. from $3.00 to $2.00. They now have a "neutral" rating on the stock.MarketBeat
EVGO
Earnings
- 5/7/24 - Beat
EVGO
Sec Filings
- 5/16/24 - Form 8-K
- 5/14/24 - Form 4
- 5/7/24 - Form 10-Q
- EVGO's page on the SEC website