NYSE$EVEX
Eve Holding Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Eve reported a net loss due to higher R&D and SG&A expenses, as well as non-cash charges related to warrant expenses.
Eve Air Mobility reported a net loss of $36.7 million in Q3 2022, driven by increased R&D and SG&A expenses, and non-cash warrant expenses. The company's cash position at the end of the quarter was $329.9 million. Eve also announced support from Brazil’s National Development Bank (BNDES) with two credit lines totaling $92.5 million.
- Net loss of $36.7 million in 3Q22, compared to $3.8 million in 3Q21.
- R&D expenses increased to $14.3 million in 3Q22, driven by a Master Service Agreement (MSA) with Embraer.
- Net cash provided by financing activities reached $15.0 million in 3Q22, supported by investment from United Airlines.
- Cash position of $329.9 million at the end of 3Q22.
Headline financials
Revenue & EPS history
Eve · Revenue · Quarterly
$44.7M
Forward guidance
Management expects cash consumption to intensify going forward, as further program advancements will demand increased engineering, test and administrative support through its direct employees, suppliers and our MSA agreement with Embraer and Atech.
Tailwinds
- Partnership with Porsche Consulting to establish a flexible and cost-effective industrialization strategy.
- Initial production site planned in Brazil to maximize synergies with product development and Embraer's expertise.
- United Airlines Ventures invested $15 million in Eve with a conditional purchase agreement for 200 aircraft plus 200 options.
- Eve conducted a North American UAM simulation in Chicago to study operations and passenger journeys.
- Eve is developing Urban Air Traffic Management (UATM) software to safely scale the UAM industry globally.
Headwinds
- Expected increase in cash consumption as program advancements require more support.
- Potential changes in the initial order pipeline as it is based on non-binding letters of intent.
- Risks associated with the uncertainty of projected financial information.
- Dependence on proceeds from the business combination with Zanite Acquisition Corp. and strategic PIPE investors to fund development.
- Subject to risks and uncertainties including changes in market conditions and the ability to obtain certification for its aircraft.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 13 quarterly earnings reports · overlaid with Q3 2022
-1.2%
Avg return
Earnings day
+2.7%
Avg return
5 days after
+9.6%
Avg return
30 days after
26%
5 / 19 earnings
Positive
+5.1%
Q4 2022
Best reaction
-6.0%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | -2.0% | +13.7% | +10.6% | |
| Q3 2025 | -3.9% | +0.0% | +22.0% | |
| Q1 2025 | -2.6% | +19.8% | +42.5% | |
| Q4 2024 | -1.6% | +13.7% | +15.2% | |
| Q3 2024 | -6.0% | +4.6% | +43.5% | |
| Q1 2024 | -2.9% | -5.1% | -11.3% | |
| Q4 2023 | +0.8% | +1.0% | +4.4% | |
| Q3 2023 | -0.9% | -6.0% | -8.5% | |
| Q2 2023 | -4.6% | -7.6% | -3.6% | |
| Q1 2023 | +2.8% | +3.2% | +2.8% | |
| Q4 2022 | +5.1% | +7.1% | +26.3% | |
| Q3 2022 | -3.6% | -3.0% | -1.1% | |
| Q2 2022 | -0.8% | -6.3% | -17.6% | |
| Q1 2022 | -2.2% | — | — | |
| Q2 2021 | -0.1% | — | — | |
| Q4 2021 | -0.1% | — | — | |
| Q3 2021 | +0.0% | — | — | |
| Q1 2021 | -0.2% | — | — | |
| Q4 2020 | +0.1% | — | — |
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