EVgo (NASDAQ:EVGO) Announces Earnings Results, Beats Expectations By $0.03 EPS

Posted by on Aug 5th, 2026

EVgo (NASDAQ:EVGO – Get Free Report) announced its earnings results on Wednesday. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.03, RTT News reports. During the same period last year, the business posted ($0.10) earnings per share. The business’s revenue for the quarter was down 15.7% on a year-over-year basis.

Here are the key takeaways from EVgo’s conference call:

  • EVgo and Tesla agreed to deploy EVgo-branded Superchargers, which management expects to more than double EVgo’s addressable market by reaching both NACS and CCS drivers. The rollout begins this year, with Tesla building and operating the chargers while EVgo owns the assets, sets pricing, and selects locations.
  • EVgo reported 19% year-over-year charging-network revenue growth to $61 million, while trailing-12-month charging gross margin reached 39%. The company ended the quarter with 5,380 operational stalls, more than 1.8 million customers, and approximately $835 million in available liquidity.
  • Q2 total revenue fell 16% year over year to $83 million because eXtend and AV revenue declined sharply, while adjusted EBITDA was a loss of $10.6 million. Management also said the 2025 stall cohort is ramping more slowly than expected, legacy equipment remains soft, and OEM charging-credit customers are converting to retail users below expectations.
  • EVgo reduced or adjusted its 2026 deployment assumptions, expecting 1,350–1,625 new stalls and 2026 revenue of $400 million–$430 million. The company now anticipates a full-year adjusted EBITDA loss of $25 million to $5 million, although it still expects positive adjusted EBITDA in Q4.
  • Management maintained its long-term outlook for approximately $500 million of recurring adjusted EBITDA by 2030, supported by network expansion, rising throughput, and operating leverage. EVgo is also evaluating additional opportunities involving autonomous vehicles, acquisitions, geographic expansion, energy storage, demand response, and excess grid-connected capacity.

EVgo Price Performance

Shares of EVGO stock traded down $0.20 during trading hours on Wednesday, reaching $1.53. The company’s stock had a trading volume of 7,832,508 shares, compared to its average volume of 4,051,903. The company has a market capitalization of $481.78 million, a price-to-earnings ratio of -4.39 and a beta of 2.82. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 5.39. The firm’s 50 day simple moving average is $1.87 and its 200-day simple moving average is $2.18. EVgo has a fifty-two week low of $1.41 and a fifty-two week high of $5.18.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Royal Bank Of Canada cut their price objective on shares of EVgo from $4.50 to $3.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVgo in a research report on Wednesday, July 15th. Wall Street Zen lowered shares of EVgo from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating on shares of EVgo in a report on Tuesday, July 21st. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, EVgo has a consensus rating of “Hold” and an average price target of $5.28.

Read Our Latest Analysis on EVGO

Institutional Trading of EVgo

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp increased its holdings in shares of EVgo by 59.3% during the fourth quarter. State Street Corp now owns 6,346,462 shares of the company’s stock worth $18,468,000 after buying an additional 2,362,435 shares in the last quarter. Invesco Ltd. grew its holdings in shares of EVgo by 111.0% during the fourth quarter. Invesco Ltd. now owns 4,424,683 shares of the company’s stock worth $12,876,000 after purchasing an additional 2,327,545 shares during the last quarter. Millennium Management LLC increased its stake in shares of EVgo by 45.3% in the third quarter. Millennium Management LLC now owns 5,560,748 shares of the company’s stock valued at $26,302,000 after buying an additional 1,734,958 shares during the period. Bank of America Corp DE increased its stake in shares of EVgo by 79.5% in the third quarter. Bank of America Corp DE now owns 1,978,600 shares of the company’s stock valued at $9,359,000 after buying an additional 876,517 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in EVgo by 27.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,912,726 shares of the company’s stock worth $11,386,000 after buying an additional 850,833 shares during the period. Institutional investors own 17.44% of the company’s stock.

Key Headlines Impacting EVgo

Here are the key news stories impacting EVgo this week:

  • Positive Sentiment: EVgo reported a second-quarter loss of $0.15 per share, better than the $0.18 loss expected by analysts, although the loss widened from $0.10 per share a year earlier. EVgo Reports Q2 Loss, Tops Revenue Estimates
  • Positive Sentiment: Charging-network revenue increased 19% year over year to $61 million, marking the 18th consecutive quarter of double-digit growth. Network throughput also rose 13% to 99 gigawatt-hours, indicating continued demand for EVgo’s chargers. EVgo Reports Second Quarter 2026 Results
  • Positive Sentiment: EVgo is expanding its network through partnerships. Its agreement with Brixmor is expected to add more than 500 fast-charging stalls at over 90 shopping centers, while the Pilot-General Motors-EVgo network has surpassed 300 locations and 1,300 stalls across 40 states. EVgo and Brixmor Expand Partnership
  • Positive Sentiment: The company plans to deploy V4 EVgo Superchargers capable of up to 500 kilowatts and 1,000 volts, potentially improving charging speed and network competitiveness. EVgo Expands Fast Charging
  • Neutral Sentiment: Management’s Q2 earnings call provided additional commentary on operating performance, network expansion and the company’s outlook. EVgo Q2 2026 Earnings Call Transcript
  • Negative Sentiment: Reported revenue declined 15.7% year over year, signaling weakness outside the core charging-network business despite solid network revenue growth. EVgo Earnings Results
  • Negative Sentiment: EVgo guided to fiscal 2026 revenue of $400 million to $430 million, below the approximately $433.2 million analyst consensus. The lower outlook offsets the quarterly EPS beat and is the clearest near-term pressure on the shares. EVgo Q2 Key Metrics

About EVgo

(Get Free Report)

EVgo operates one of the largest public electric vehicle (EV) fast-charging networks in the United States, delivering direct current (DC) fast charging and Level 2 charging services to passenger vehicles and commercial fleets. The company’s charging stations are strategically located in urban centers, suburban shopping areas, workplace parking facilities, and along major highway corridors, enabling convenient access for EV drivers and promoting long-distance travel.

The company offers a suite of charging solutions, including subscription plans, pay-per-use options, and fleet charging services tailored to the needs of ride-hailing, delivery, and corporate vehicle fleets.

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Earnings History for EVgo (NASDAQ:EVGO)

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