Shares of EVgo (NASDAQ:EVGO) fell today after it reported earnings for its first quarter of Fiscal Year 2023. Earnings per share came in at -$0.18, which beat analysts’ consensus estimate of -$0.19 per share. Sales increased by 228.6% year-over-year, with revenue hitting $25.3 million. This was $1.5 million below expectations.
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Looking forward, management expects revenue and adjusted EBITDA for Fiscal Year 2023 to be in the ranges of $105 million to $150 million and -$78 million to -$60 million, respectively. For reference, analysts were expecting $138.8 million in revenue and -$79.755 million in EBITDA.
Overall, Wall Street analysts have a consensus price target of $10.25 per share on EVGO stock, implying over 73% upside potential, as indicated by the graphic above.
