2023-08-04 10:17:30 ET
EVgo ( NASDAQ: EVGO ) jumped 26% since Wednesday as it extends its post-earnings rally.
Shares are up 4.5% on Friday morning.
On Wednesday, EVGO reported GAAP EPS of -$0.08, which beat the average analyst estimate by $0.10, and revenue of $50.6M that beat by $20.89M.
EVGO also provided guidance for the full year of revenue between $120M and $150M, versus the consensus of $133.33M, and adjusted Ebidta of -$78M to -$68M.
The EV charging network also said on Wednesday that it appointed Badar Khan to succeed Cathy Zoi as chief executive officer, effective in November. Zoi will serve as an advisor to the company and work closely with Khan through the end of 2023.
Khan has served on the EVgo board of directors since 2022.
“EVgo had a phenomenal second quarter with significant growth in key areas including stalls, throughput, customer accounts, utilization, and revenue,” CEO Zoi said in a statement on Wednesday. “We are pleased to report EVgo’s network throughput growth is accelerating, demonstrating the leverage in our business and financial model as the auto sector rapidly electrifies.”
EVGO has four Strong Buy ratings from Wall Street analysts, one Buy, five Holds and two Sells.
Shares are down 42% over the past 12 months and up 33% so far in 2023.
More on EVGO:
- EVgo GAAP EPS of -$0.08 beats by $0.10, revenue of $50.6M beats by $20.89M
- EVgo appoints Badar Khan as CEO
- EVgo Inc. ( EVGO ) Q2 2023 Earnings Call Transcript
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EVgo extends post-earnings rally to jump 26% in three days