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

EVE (NYSE:EVEX) released its earnings results on Tuesday. The company reported ($0.10) 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 Price Performance

Shares of NYSE EVEX opened at $2.83 on Wednesday. EVE has a 52 week low of $2.10 and a 52 week high of $6.83. The business’s 50 day moving average price is $2.65 and its 200 day moving average price is $2.94. The company has a quick ratio of 3.80, a current ratio of 3.80 and a debt-to-equity ratio of 5.45. The firm has a market cap of $987.43 million, a P/E ratio of -3.88 and a beta of 1.14.

Institutional Trading of EVE

Several institutional investors and hedge funds have recently bought and sold shares of EVEX. AQR Capital Management LLC boosted its holdings in shares of EVE by 167.8% in the 1st quarter. AQR Capital Management LLC now owns 52,456 shares of the company’s stock valued at $174,000 after acquiring an additional 32,868 shares during the last quarter. Strs Ohio purchased a new position in shares of EVE during the first quarter worth $75,000. Rhumbline Advisers lifted its position in EVE by 25.5% during the first quarter. Rhumbline Advisers now owns 35,223 shares of the company’s stock valued at $117,000 after purchasing an additional 7,154 shares during the period. Legal & General Group Plc lifted its position in EVE by 5.2% during the second quarter. Legal & General Group Plc now owns 165,336 shares of the company’s stock valued at $1,134,000 after purchasing an additional 8,108 shares during the period. Finally, Marshall Wace LLP purchased a new stake in EVE in the second quarter valued at $326,000. 1.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EVEX has been the subject of a number of research analyst reports. Canaccord Genuity Group decreased their price target on shares of EVE from $7.50 to $7.25 and set a “buy” rating for the company in a report on Wednesday, May 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of EVE in a 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 issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.02.

About EVE

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.