EVgo Reports Upbeat Q1 Earnings, CEO Expects Minimal Impact From Trump Tariffs: Retail’s Thrilled

Shares of EVgo Inc. (EVGO) traded 32% higher on Tuesday afternoon after the company reported upbeat first-quarter earnings and projected minimal impact from Trump tariffs.

The public fast-charging provider reported first-quarter revenue of $75.3 million, up from $55.16 million in the corresponding quarter of 2024 and above an analyst estimate of $71.37 million, according to Finchat data.

Charging network revenue totaled a record $47.1 million in the first quarter, an increase of 49% year-over-year.

Adjusted loss before interest, taxes, depreciation, and amortization (EBITDA) came in at $5.93 million, lower than the loss of $7.21 million reported in Q1 2024 and below an estimated loss of $6.61 million.

The company also affirmed its full-year revenue guidance of $340 million to $380 million and said its adjusted EBITDA could range from a loss of $5 million to earnings of $10 million.

EVgo added more than 180 new operational stalls during the first quarter, ending the quarter with 4,240 stalls in operation, compared to 3,210 as of the end of Q1 2024.

EVgo CEO Badar Khan said the company believes its strong balance sheet positions it well to meet growing demand.

“We anticipate being minimally impacted by tariffs, and we remain focused on achieving adjusted EBITDA breakeven in 2025, while investing in growth, including our next-generation charging experience,” Khan said.

On Stocktwits, retail sentiment around EVgo rose from ‘bullish’ to ‘extremely bullish’ territory over the past 24 hours while message volume rose from ‘normal’ to ‘extremely high’ levels.

EVGO stock is down by 13% this year but up by about 84% over the past 12 months.

Also See: Tesla Analyst Says Current FSD Version Cannot Enable Autonomous Driving: But Retail’s Unmoved

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