Unpacking Q1 Earnings: EVgo (NASDAQ:EVGO) In The Context Of Other Renewable Energy Stocks

The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how EVgo (NASDAQ:EVGO) and the rest of the renewable energy stocks fared in Q1.

Renewable energy companies are buoyed by the secular trend of green energy that is upending traditional power generation. Those who innovate and evolve with this dynamic market can win share while those who continue to rely on legacy technologies can see diminishing demand, which includes headwinds from increasing regulation against “dirty” energy. Additionally, these companies are at the whim of economic cycles, as interest rates can impact the willingness to invest in renewable energy projects.

The 16 renewable energy stocks we track reported a satisfactory Q1. As a group, revenues beat analysts’ consensus estimates by 5.2% while next quarter’s revenue guidance was 1.9% above.

Luckily, renewable energy stocks have performed well with share prices up 15.1% on average since the latest earnings results.

EVgo (NASDAQ:EVGO)

Created through a settlement between NRG Energy and the California Public Utilities Commission, EVgo (NASDAQ:EVGO) is a provider of electric vehicle charging solutions, operating fast charging stations across the United States.

EVgo reported revenues of $75.29 million, up 36.5% year on year. This print exceeded analysts’ expectations by 1.4%. Overall, it was a stunning quarter for the company with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

“EVgo once again achieved a record level of revenues, starting 2025 off on a strong foundation,” said Badar Khan, EVgo’s CEO.

The stock is up 38.8% since reporting and currently trades at $3.83.

We think EVgo is a good business, but is it a buy today? Read our full report here, it’s free.

Best Q1: Generac (NYSE:GNRC)

With its name deriving from a combination of “generating” and “AC”, Generac (NYSE:GNRC) offers generators and other power products for residential, industrial, and commercial use.

Generac reported revenues of $942.1 million, up 5.9% year on year, outperforming analysts’ expectations by 2.3%. The business had a stunning quarter with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

The market seems happy with the results as the stock is up 12.5% since reporting. It currently trades at $127.37.

Is now the time to buy Generac? Access our full analysis of the earnings results here, it’s free.

Weakest Q1: Blink Charging (NASDAQ:BLNK)

One of the first EV charging companies to go public, Blink Charging (NASDAQ:BLNK) is a manufacturer, owner, operator, and provider of electric vehicle charging equipment and networked EV charging services.

Blink Charging reported revenues of $20.75 million, down 44.8% year on year, falling short of analysts’ expectations by 24.3%. It was a disappointing quarter as it posted a significant miss of analysts’ adjusted operating income estimates.

Blink Charging delivered the weakest performance against analyst estimates and slowest revenue growth in the group. As expected, the stock is down 8.4% since the results and currently trades at $0.79.

Read our full analysis of Blink Charging’s results here.

Array (NASDAQ:ARRY)

Going public in October 2020, Array (NASDAQ:ARRY) is a global manufacturer of ground-mounting tracking systems for utility and distributed generation solar energy projects.

Array reported revenues of $302.4 million, up 97.1% year on year. This print beat analysts’ expectations by 14.3%. Overall, it was a very strong quarter as it also recorded an impressive beat of analysts’ sales volume estimates and a solid beat of analysts’ EPS estimates.

Array delivered the fastest revenue growth among its peers. The stock is up 42.7% since reporting and currently trades at $7.02.

Read our full, actionable report on Array here, it’s free.

American Superconductor (NASDAQ:AMSC)

Founded in 1987, American Superconductor (NASDAQ:AMSC) has shifted from superconductor research to developing power systems, adapting to changing energy grid needs and naval technology requirements.

American Superconductor reported revenues of $66.66 million, up 58.6% year on year. This result surpassed analysts’ expectations by 10.6%. It was a stunning quarter as it also put up an impressive beat of analysts’ EBITDA estimates and revenue guidance for next quarter exceeding analysts’ expectations.

The stock is up 25% since reporting and currently trades at $30.29.

Read our full, actionable report on American Superconductor here, it’s free.

Market Update

Thanks to the Fed’s series of rate hikes in 2022 and 2023, inflation has cooled significantly from its post-pandemic highs, drawing closer to the 2% goal. This disinflation has occurred without severely impacting economic growth, suggesting the success of a soft landing. The stock market thrived in 2024, spurred by recent rate cuts (0.5% in September and 0.25% in November), and a notable surge followed Donald Trump’s presidential election win in November, propelling indices to historic highs. Nonetheless, the outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. The path forward holds both optimism and caution as new policies take shape.

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