EVE (NYSE:EVEX) Issues Quarterly Earnings Results

EVE (NYSE:EVEX) announced its earnings results on Tuesday. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 Trading Up 2.1%

NYSE:EVEX traded up $0.06 during trading hours on Thursday, reaching $2.71. 501,843 shares of the company were exchanged, compared to its average volume of 1,191,713. The firm has a market cap of $945.65 million, a price-to-earnings ratio of -4.38 and a beta of 1.14. The stock has a 50 day simple moving average of $2.64 and a 200 day simple moving average of $2.93. EVE has a 52-week low of $2.10 and a 52-week high of $6.20. The company has a debt-to-equity ratio of 5.45, a current ratio of 3.80 and a quick ratio of 3.80.

Wall Street Analyst Weigh In

EVEX has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVE in a research note on Tuesday, July 21st. Jefferies Financial Group set a $5.00 price objective on EVE in a research note on Wednesday. Finally, Canaccord Genuity Group reduced their target price on shares of EVE from $7.50 to $7.25 and set a “buy” rating on the stock in a report on Wednesday, May 6th. 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.82.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in EVE by 167.8% during the first quarter. AQR Capital Management LLC now owns 52,456 shares of the company’s stock worth $174,000 after acquiring an additional 32,868 shares during the last quarter. Strs Ohio acquired a new stake in shares of EVE in the first quarter worth $75,000. Rhumbline Advisers raised its stake in shares of EVE by 25.5% in the 1st quarter. Rhumbline Advisers now owns 35,223 shares of the company’s stock valued at $117,000 after acquiring an additional 7,154 shares during the period. Legal & General Group Plc lifted its holdings in shares of EVE by 5.2% during the 2nd quarter. Legal & General Group Plc now owns 165,336 shares of the company’s stock valued at $1,134,000 after acquiring an additional 8,108 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in EVE during the 2nd quarter worth $326,000. Institutional investors and hedge funds own 1.27% of the company’s stock.

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.