EVgo Q4 Loss Narrower Than Expected, Revenues Rise Y/Y

EVgo EVGO reported a fourth-quarter 2024 loss of 11 cents per share, narrower than the Zacks Consensus Estimate of a loss of 15 cents, as well as the year-ago period’s loss of 12 cents per share. Revenues of $67.5 million missed the Zacks Consensus Estimate of $69 million but increased 35% on a year-over-year basis due to strong growth in charging network revenues.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.EVgo Inc. Price, Consensus and EPS Surprise EVgo Inc. price-consensus-eps-surprise-chart | EVgo Inc. QuoteKey Q4 HighlightsEVgo recorded a network throughput of 84 gigawatt-hours in the fourth quarter of 2024 and missed the Zacks Consensus Estimate of 88 gigawatt-hours and went up from 50 gigawatt-hours in the prior-year period. Total stalls in operation were 4,080 compared to 2,980 at the end of the prior-year quarter. There were customer account additions of over 133,000 accounts in the reported quarter, compared to over 110,000 new customer accounts in the year-ago period.EVGO’s total charging network revenues for the fourth quarter were $46.51 million, up 73% on a year-over-year basis, driven by the addition of new DC fast charging stalls during the year. It, however, missed the Zacks Consensus Estimate of $50 million. Total retail charging revenues were $29.34 million and missed the consensus mark of $30 million. The figure grew an impressive 76% on a year-over-year basis.Total commercial charging revenues stood at $7.82 million and grew 61% year over year. It missed the Zacks Consensus Estimate of $9.48 million. Total OEM charging revenues increased 125% year over year and stood at $4.88 million. It beat the consensus mark of $4.84 million.Regulatory credit sales for the fourth quarter were $3.01 million and improved 47% on a year-over-year basis. The figure missed the consensus mark of $4.28 million. Network OEM sales were $1.46 million and increased 30% on a year-over-year basis. It beat the Zacks Consensus Estimate of $1.41 million.eXtend revenues for the reported quarter were $17.88 million and fell 2% from the prior-year quarter. However, it beat the Zacks Consensus Estimate of $17.5 million. Ancillary revenues stood at $3.12 million and fell 35% on a year-over-year basis. However, it missed the consensus mark of $3.21 million.Adjusted gross profit amounted to $22.8 million, as against an adjusted gross profit of $13.3 million in the prior-year quarter. The adjusted gross margin for the reported quarter was 33.7%, compared to 26.5% in the year-ago quarter.Total operating expenses were $44.78 million, up from $44.36 million in the prior-year quarter. The company’s adjusted EBITDA was negative $8.4 million for the fourth quarter of 2024, an improvement from negative $14 million in the fourth quarter of 2023.Net cash used in operating activities amounted to $12.8 million compared to $7.3 million used in the fourth quarter of 2023. Capital expenditures for the reported quarter were $23.7 million, down from $34.8 million in the prior-year quarter.Financial PositionEVgo had $117.27 million in cash and cash equivalents as of Dec. 31, 2024, compared to $208.67 million as of Dec. 31, 2023. Total liabilities were $360 million as of Dec. 31, 2024, compared to $266.24 million as of Dec. 31, 2024.2025 GuidanceFor 2025, EVgo expects total revenues between $340 million and $380 million. Adjusted EBITDA is anticipated to be in the negative $5 million and positive $10 million.Zacks Rank and Key PicksEVGO currently has a Zacks Rank #3 (Hold).Some better-ranked stocks in the auto space are Geely Automobile GELYY, General Motors GM and Zapp Electric Vehicles Group Limited ZAPP. While GELYY flaunts a Zacks Rank #1 (Strong Buy) at present, GM and ZAPP carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for GELYY’s 2025 EPS is currently pegged at $3.59, unchanged over the past 30 days and suggesting growth of 149.31% on a year-over-year basis.The Zacks Consensus Estimate for GM’s 2025 earnings has moved north 6.7% over the past 30 days and suggests year-over-year growth of 8.02%. It is currently pegged at $11.45 per share.The Zacks Consensus Estimate for ZAPP’s 2025 loss has been steady at 84 cents per share over the past 30 days and suggests growth of 67.2% on a year-over-year basis.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report General Motors Company (GM): Free Stock Analysis Report Geely Automobile Holdings Ltd. (GELYY): Free Stock Analysis Report EVgo Inc. (EVGO): Free Stock Analysis Report Zapp Electric Vehicles Group Limited (ZAPP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks