EVgo shares jump 22% on Q4 Beat

By Davit Kirakosyan

Evgo Inc (NASDAQ:) shares surged more than 22% today after the company reported its , with EPS of ($0.06) coming in better than the consensus estimate of ($0.18). Revenue grew 283% year-over-year to $27.3 million, beating the consensus estimate of $19.86M.

“In 2022 EVgo achieved record revenue reflecting the continued growth of EVgo’s ultra-fast DC charging network, blue-ribbon partnerships, and industry-leading technology offerings,” said Cathy Zoi, EVgo’s CEO.

For the full 2023 year, the company expects revenue in the range of $105-$150M, compared to the consensus of $153M. Adjusted EBITDA is seen at ($78M)–($60M).

Additionally, at year-end 2023, the company expects to have a total of 3,400 – 4,000 DC fast-charging stalls in operation or under construction.