EVE (NYSE:EVEX) Announces Quarterly Earnings Results, Beats Estimates By $0.08 EPS

EVE (NYSE:EVEX) announced its quarterly earnings data on Tuesday. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.08, Zacks reports.

Here are the key takeaways from EVE’s conference call:

• Flight testing has resumed after software upgrades and ground testing, with Eve’s prototype reaching partial transition at 30 knots. The company expects to complete full transition by year-end after roughly 30–40 additional flights.
• Eve reported $403 million in cash and $531 million of total liquidity, which management believes is sufficient to fund operations through 2028 without new financing. Embraer-related synergies and cost avoidance are expected to contribute $100 million–$150 million over 2026–2028.
• The certification program remains on schedule for a first crewed conforming-prototype flight in the second half of 2027 and entry into service in 2028, subject to completing design reviews, building six conforming aircraft, and approximately 12 months of subsequent flight testing.
• Eve added two LOIs totaling 46 aircraft at the Farnborough Airshow, bringing its pre-order backlog to approximately 2,700 aircraft valued at $13.5 billion at list price. Management highlighted growing interest from both operators and leasing companies.
• Second-quarter R&D expense fell to $29 million and net loss was $34 million, but management expects R&D to return to roughly $50 million per quarter. First-half cash burn was $118 million, with full-year consumption still expected near the midpoint of the $225 million–$275 million guidance range.

EVE Stock Up 15.2%

Shares of EVE stock traded up $0.36 on Tuesday, hitting $2.77. 724,264 shares of the company traded hands, compared to its average volume of 1,179,370. The company has a 50-day moving average price of $2.66 and a 200 day moving average price of $2.96. The company has a quick ratio of 3.80, a current ratio of 3.80 and a debt-to-equity ratio of 5.45. EVE has a 12-month low of $2.10 and a 12-month high of $6.83. The company has a market cap of $963.05 million, a PE ratio of -3.77 and a beta of 1.14.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Canaccord Genuity Group lowered their target price on EVE from $7.50 to $7.25 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of EVE in a research report on Tuesday, July 21st. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $6.02.

Institutional Trading of EVE

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its stake in EVE by 144.8% in the second quarter. BNP Paribas Financial Markets now owns 5,276 shares of the company’s stock valued at $36,000 after purchasing an additional 3,121 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of EVE during the 2nd quarter worth about $69,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of EVE during the 3rd quarter worth about $42,000. Mariner LLC acquired a new stake in shares of EVE during the 4th quarter valued at about $49,000. Finally, Abel Hall LLC acquired a new stake in shares of EVE during the 4th quarter valued at about $54,000. 1.27% of the stock is currently owned by hedge funds and other institutional investors.

EVE Company Profile

Eve Holding, Inc (NYSE: EVEX) is the publicly traded parent of Eve Air Mobility, a company dedicated to developing sustainable urban air mobility solutions. Through its engineering and design capabilities, Eve focuses on creating electric vertical takeoff and landing (eVTOL) aircraft tailored for short-haul passenger and cargo transport in densely populated areas.

The company’s flagship offering is an eVTOL aircraft designed to deliver clean, quiet and efficient point-to-point service, backed by an integrated digital platform for air traffic management.