EVgo Raises Midpoint Of Total Revenue Guidance By $10M With Total Revenue Guidance Of $240M - $270M, Est $248.655M
Portfolio Pulse from Benzinga Newsdesk
EVgo has raised the midpoint of its total revenue guidance by $10 million, now expecting total revenue between $240 million and $270 million, with an estimate of $248.655 million. The company also provided an adjusted EBITDA guidance of ($44) to ($34) million.
August 01, 2024 | 11:12 am
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EVgo has increased its revenue guidance midpoint by $10 million, indicating stronger than expected performance. The new revenue guidance is between $240 million and $270 million, with an estimate of $248.655 million. However, the adjusted EBITDA remains negative, ranging from ($44) million to ($34) million.
Raising the revenue guidance midpoint by $10 million suggests that EVgo is performing better than previously expected, which is a positive signal for investors. However, the negative adjusted EBITDA indicates that the company is still facing profitability challenges. Overall, the news is likely to have a positive short-term impact on the stock price due to the improved revenue outlook.
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