We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
EVgo (EVGO) to Report Q1 Earnings: What's in the Cards?
Read MoreHide Full Article
EVgo (EVGO - Free Report) is slated to release first-quarter 2023 results on May 9, before market open. The Zacks Consensus Estimate for the to-be-reported quarter’s loss per share and revenues is pegged at 15 cents and $26.99 million, respectively.
For the first quarter, the consensus estimate for EVGO’s loss per share has widened by 2 cents in the past 60 days. Its bottom-line estimates also imply a deterioration of 287.5% from the year-ago reported number. Over the trailing four quarters, EVGO surpassed the consensus estimate on two occasions and missed twice, with the average negative surprise being 35.6%. This is depicted in the graph below:
In fourth-quarter 2022, EVgo incurred an adjusted quarterly loss of 6 cents per share, narrower than the Zacks Consensus Estimate of a loss of 15 cents. EVgo’s gross loss of $1.1 million narrowed from the year-ago loss of $1.8 million. It posted revenues of $27.3 million in the quarter, outpacing the Zacks Consensus Estimate of $21 million and improving from the year-ago figure of $7.1 million.
Earnings Whispers
Our proven model does not predict an earnings beat for EVgo in the quarter to be reported, as it does not have the right combination of the two key ingredients. A combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: EVGO has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate for loss is on par with the Zacks Consensus Estimate.
Zacks Rank: It currently carries a Zacks Rank of 4 (Sell).
Things to Note
The industry is experiencing deceleration in utility timeline due to a delay in transformer procurement and competing priorities of grid management and system upgrade. The federal Buy America waiver for the NEVI funded project is likely to have created supply-chain challenges as Evgo’s plans to onshore the production of EV chargers.
The challenging supply-chain environment might have delayed the company’s plan to achieve scale in the to-be-reported quarter. The projects planned in 2023 might shift to 2024 due to the retracted Buy America rules.
Additionally, EVgo’s operating loss widened by 41% to $42,488 during the fourth quarter of 2022, from a loss of $30,153 reported in the year-ago quarter. Operating loss is likely to have widened in the to-be-reported quarter as the cost of revenues and selling, general and administrative expenses continues to follow an upward trajectory.
Widening loss and delays arising from new government requirements are likely to have stained the company’s performance during the quarter under review.
Earnings Whispers for Peers
Lucid Group (LCID - Free Report) is scheduled to report first-quarter earnings on May 8. The Zacks Consensus Estimate for LCID’s bottom line is pegged at a loss of 39 cents per share. The company has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell).
LCID surpassed earnings estimates in two of the last four quarters, while missing in the other two in fiscal 2022. It has a trailing four-quarter earnings surprise of 21.14% on average.
Nikola (NKLA - Free Report) is scheduled to report first-quarter earnings on May 9. The Zacks Consensus Estimate for the to-be-reported quarter’s bottom line is pegged at a loss of 28 cents per share. The company has an Earnings ESP of 0.00% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
NKLA surpassed earnings estimates in all the trailing four quarters in fiscal 2022, the average surprise being 19.35%.
Rivian (RIVN - Free Report) is scheduled to report first-quarter earnings on May 9. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings bottom line is pegged at a loss of $1.51 per share. The company has an Earnings ESP of +0.84% and a Zacks Rank #3.
RIVN surpassed earnings estimates in three of the trailing four quarters and missed in one in fiscal 2022, the average surprise being 2.94%.
Image: Bigstock
EVgo (EVGO) to Report Q1 Earnings: What's in the Cards?
EVgo (EVGO - Free Report) is slated to release first-quarter 2023 results on May 9, before market open. The Zacks Consensus Estimate for the to-be-reported quarter’s loss per share and revenues is pegged at 15 cents and $26.99 million, respectively.
For the first quarter, the consensus estimate for EVGO’s loss per share has widened by 2 cents in the past 60 days. Its bottom-line estimates also imply a deterioration of 287.5% from the year-ago reported number. Over the trailing four quarters, EVGO surpassed the consensus estimate on two occasions and missed twice, with the average negative surprise being 35.6%. This is depicted in the graph below:
EVgo Inc. Price and EPS Surprise
EVgo Inc. price-eps-surprise | EVgo Inc. Quote
Q4 Highlights
In fourth-quarter 2022, EVgo incurred an adjusted quarterly loss of 6 cents per share, narrower than the Zacks Consensus Estimate of a loss of 15 cents. EVgo’s gross loss of $1.1 million narrowed from the year-ago loss of $1.8 million. It posted revenues of $27.3 million in the quarter, outpacing the Zacks Consensus Estimate of $21 million and improving from the year-ago figure of $7.1 million.
Earnings Whispers
Our proven model does not predict an earnings beat for EVgo in the quarter to be reported, as it does not have the right combination of the two key ingredients. A combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: EVGO has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate for loss is on par with the Zacks Consensus Estimate.
Zacks Rank: It currently carries a Zacks Rank of 4 (Sell).
Things to Note
The industry is experiencing deceleration in utility timeline due to a delay in transformer procurement and competing priorities of grid management and system upgrade. The federal Buy America waiver for the NEVI funded project is likely to have created supply-chain challenges as Evgo’s plans to onshore the production of EV chargers.
The challenging supply-chain environment might have delayed the company’s plan to achieve scale in the to-be-reported quarter. The projects planned in 2023 might shift to 2024 due to the retracted Buy America rules.
Additionally, EVgo’s operating loss widened by 41% to $42,488 during the fourth quarter of 2022, from a loss of $30,153 reported in the year-ago quarter. Operating loss is likely to have widened in the to-be-reported quarter as the cost of revenues and selling, general and administrative expenses continues to follow an upward trajectory.
Widening loss and delays arising from new government requirements are likely to have stained the company’s performance during the quarter under review.
Earnings Whispers for Peers
Lucid Group (LCID - Free Report) is scheduled to report first-quarter earnings on May 8. The Zacks Consensus Estimate for LCID’s bottom line is pegged at a loss of 39 cents per share. The company has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell).
LCID surpassed earnings estimates in two of the last four quarters, while missing in the other two in fiscal 2022. It has a trailing four-quarter earnings surprise of 21.14% on average.
Nikola (NKLA - Free Report) is scheduled to report first-quarter earnings on May 9. The Zacks Consensus Estimate for the to-be-reported quarter’s bottom line is pegged at a loss of 28 cents per share. The company has an Earnings ESP of 0.00% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
NKLA surpassed earnings estimates in all the trailing four quarters in fiscal 2022, the average surprise being 19.35%.
Rivian (RIVN - Free Report) is scheduled to report first-quarter earnings on May 9. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings bottom line is pegged at a loss of $1.51 per share. The company has an Earnings ESP of +0.84% and a Zacks Rank #3.
RIVN surpassed earnings estimates in three of the trailing four quarters and missed in one in fiscal 2022, the average surprise being 2.94%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.