Core Insights - Evergy, Inc. reported fourth-quarter 2024 operating earnings per share (EPS) of 35 cents, which was 2.8% below the Zacks Consensus Estimate of 36 cents, but represented a 29.6% increase from the previous year's figure of 27 cents [1] - Full-year adjusted EPS for 2024 was $3.81, an increase from $3.54 in the prior year [2] Financial Performance - Quarterly revenues reached $1.26 billion, exceeding the Zacks Consensus Estimate of $1.194 billion by 5.3%, and up from $1.188 billion in the same quarter last year [3] - Full-year revenues for 2024 totaled $5.85 billion, compared to $5.51 billion in 2023 [3] Expense Overview - Fuel and purchased power costs for the year were $1.48 billion, a decrease of 0.6% from $1.49 billion the previous year [4] - Operating and maintenance expenses increased by 1.8% to $961.9 million from $945.3 million last year [4] - Interest expenses rose by 7% year-over-year to $563.1 million [4] Cash Flow and Debt - Cash and cash equivalents as of December 31, 2024, were $22 million, down from $27.7 million a year earlier [5] - Long-term debt increased to $11.81 billion from $11.05 billion as of December 31, 2023 [5] - Cash provided by operating activities in 2024 was $1.983 billion, slightly up from $1.980 billion in the previous year [5] Guidance and Growth Outlook - The company reaffirmed its 2025 GAAP EPS and adjusted EPS guidance of $3.92-$4.12, with the Zacks Consensus Estimate at $4.02 [6] - Evergy aims for an annual EPS growth target of 4-6% through 2029 [6] Zacks Rank - Evergy currently holds a Zacks Rank 3 (Hold) [7]

Core Viewpoint - Evergy Inc reported quarterly earnings of $0.35 per share, missing the Zacks Consensus Estimate of $0.36 per share, but showing an increase from $0.27 per share a year ago, indicating a mixed performance in earnings expectations [1][2] Financial Performance - The company posted revenues of $1.26 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 5.28%, compared to $1.19 billion in the same quarter last year [2] - Over the last four quarters, Evergy has exceeded consensus revenue estimates four times, but has only surpassed EPS estimates once [2] Stock Performance - Evergy shares have increased approximately 12.3% since the beginning of the year, outperforming the S&P 500's gain of 1.3% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.66 on revenues of $1.41 billion, and for the current fiscal year, it is $4.02 on revenues of $5.92 billion [7] - The outlook for the Utility - Electric Power industry is currently in the bottom 49% of Zacks industries, which may impact Evergy's stock performance [8]

Financial Performance - 2024 GAAP earnings were $873.5 million, or $3.79 per share, compared to $731.3 million, or $3.17 per share in 2023, representing a 19.4% increase in earnings[2] - Adjusted earnings (non-GAAP) for 2024 were $877.9 million, or $3.81 per share, up from $815.6 million, or $3.54 per share in 2023, reflecting a 7.9% increase[3] - Fourth quarter 2024 adjusted earnings (non-GAAP) were $80.6 million, or $0.35 per share, compared to $61.1 million, or $0.27 per share in Q4 2023, indicating a 32.9% increase[4] Dividends and Capital Investment - The company declared a quarterly dividend of $0.6675 per share, payable on March 21, 2025[10] - Evergy raised its 2025E-2029E capital investment plan to $17.5 billion, indicating a commitment to infrastructure investment[8] Earnings Guidance and Growth Expectations - The company reaffirmed its 2025 GAAP and adjusted (non-GAAP) EPS guidance range of $3.92 to $4.12[9] - Evergy expects long-term adjusted EPS (non-GAAP) annual growth of 4% to 6% through 2029, with growth anticipated in the upper half of this range starting in 2026[9] Business Development and Demand - The company is in advanced negotiations with two large data center customers as part of its 10-gigawatt project pipeline, reflecting strong demand in Kansas and Missouri[7] - Adjusted earnings (non-GAAP) for 2024 benefited from new retail rates and growth in weather-normalized demand, despite challenges from mild weather and higher expenses[5] Strategic Focus and Mission - Evergy's mission focuses on delivering reliable, affordable, and sustainable energy, with about half of its power coming from carbon-free sources[22] Risk Factors - Evergy Companies face risks from economic and weather conditions impacting sales, prices, and costs[25] - Significant changes in electricity demand and the ability to meet future demand are critical factors for Evergy's strategy[25] - The company is subject to regulatory actions that could affect customer rates and operational decisions[25] - Evergy Companies are managing risks related to the ownership and operation of nuclear facilities, including environmental and financial risks[26] - The ability to attract and retain qualified personnel is essential for maintaining operational efficiency[26] - Strategic initiatives such as mergers and acquisitions may not achieve expected value in a timely manner[26] - The impact of climate change and significant weather events poses additional operational challenges[25] - Evergy Companies are affected by geopolitical conflicts that influence the global energy market[26] - The company must navigate uncertainties related to supply chain issues and the availability of resources[26] - Future pandemic health events could impact sales, operations, and financial position[25]

Financial Performance - Evergy reported a total revenue of $1.5 billion for the last quarter, reflecting a 5% increase year-over-year[21] - The company achieved an earnings per share (EPS) of $0.85, which is a 10% increase compared to the previous quarter[21] - Evergy reported a year-over-year increase in earnings per share (EPS) of 10%, reaching $3.50 for the fiscal year[21] - The company reaffirmed its guidance for the full year, expecting EPS to be in the range of $3.30 to $3.50[21] Customer Growth - Evergy's customer base grew by 3% over the last year, adding approximately 30,000 new customers[21] - Evergy's customer base grew by 5% over the past year, with a total of 1.6 million customers served[23] Capital Investment and Infrastructure - The company plans to invest $2 billion in capital projects over the next three years to enhance infrastructure and meet future energy demands[21] - The company anticipates a capital investment of approximately $1.2 billion in the upcoming year to enhance infrastructure and meet growing energy demands[22] Renewable Energy Initiatives - Evergy is focusing on renewable energy, with a target of increasing its renewable generation capacity by 25% by 2025[21] - Evergy plans to expand its renewable energy portfolio, targeting an increase of 1,000 MW of wind and solar capacity by 2025[25] - The company has allocated $200 million for research and development of new energy technologies, including energy storage solutions[26] - The company aims to reduce carbon emissions by 30% by 2030, aligning with its sustainability goals[24] Operational Efficiency - Evergy has initiated a new energy efficiency program expected to save customers $50 million annually[21] - Evergy's operating expenses increased by 3% due to higher maintenance costs and inflationary pressures[21] - Evergy's operating and maintenance expenses are projected to increase by 4% in the next fiscal year due to inflationary pressures[27] Strategic Growth - Evergy is exploring potential acquisitions to expand its market presence, particularly in the Midwest region[21] - The company is exploring strategic partnerships for potential acquisitions to enhance its market position[28] Shareholder Returns - Evergy's dividend payout ratio is expected to remain stable at 60% of net income, ensuring consistent returns to shareholders[29] Customer Service Improvement - The company is committed to improving customer service metrics, aiming for a 15% reduction in response times to service requests[30]

Core Viewpoint - Evergy (EVRG) is set to release its fourth-quarter 2024 results on February 27, with expectations of a year-over-year earnings increase of 37% and a slight revenue growth of 0.5% [1][5]. Group 1: Earnings Expectations - The Zacks Consensus Estimate for Evergy's earnings is 37 cents per share, reflecting a 37% increase compared to the previous year [5]. - Revenue expectations are set at $1.19 billion, indicating a 0.5% increase from the same quarter last year [5]. Group 2: Factors Influencing Earnings - Ongoing investments in grid modernization are expected to positively impact earnings, along with energy efficiency programs and cost-saving initiatives [3]. - Economic development in service territories is projected to contribute to growth in demand, further benefiting the bottom line [3]. Group 3: Potential Challenges - Higher depreciation and interest expenses are anticipated to negatively affect the earnings for the upcoming quarter [4]. - The company's Earnings ESP is -1.82%, indicating a lower likelihood of an earnings beat this time [6]. Group 4: Zacks Rank - Evergy currently holds a Zacks Rank of 3 (Hold), suggesting a neutral outlook [7].

Core Viewpoint - Evergy, Inc. is focusing on strategic investments and acquisitions to enhance its operations in the transmission market while aiming to increase renewable assets for improved performance [1] Group 1: Investment Plans - Evergy plans to invest approximately $16.2 billion in capital expenditures from 2025 to 2029, aligning with its Integrated Resource Plan [2] - The company aims for net-zero emissions by 2045, with a target to reduce carbon dioxide emissions by 70% by 2030 [2] Group 2: Emission Reduction Strategy - The company intends to lower emissions by decommissioning fossil-fuel-based plants and introducing new efficient clean power generation units [3] - Advanced technology in renewable energy production is expected to reduce operating costs and enhance profit margins [3] Group 3: New Projects - In October 2024, Evergy announced plans to build two combined-cycle natural gas plants in Kansas, each with an initial capacity of nearly 705 megawatts (MW) [4] - The first plant is projected to commence operations by summer 2029, while the second is expected to start by summer 2030 [4] Group 4: Performance Metrics - Over the past six months, Evergy's shares have increased by 15.8%, outperforming the industry growth of 6.8% [6] - Since June 27, 2024, Evergy's price performance has shown a growth of 15.8% compared to the Utility-Electric Power Market's growth of 6.8% [7] Group 5: Industry Comparisons - Other notable stocks in the industry include Vistra (VST) with a Zacks Rank 1 (Strong Buy), and IDACORP (IDA) and DTE Energy (DTE) both with a Zacks Rank 2 (Buy) [8] - VST has a long-term earnings growth rate of 17.4%, with a projected 24.8% year-over-year increase in 2024 EPS [8] - IDA and DTE have long-term earnings growth rates of 8.31% and 8.04%, respectively, with projected year-over-year EPS growth of 5.5% and 18% for 2024 [9]

Group 1: Evergy (EVRG) - Evergy operates electric utilities in Kansas and Missouri, serving approximately 1.7 million customers [2] - The company has a forward dividend yield of 4.15%, which is a significant factor in its investment appeal [2] - Evergy anticipates an average annual growth in adjusted earnings per share of 4% to 6%, with potential for higher growth in the latter half of the decade [3] - Recent developments include contracts to provide power to new data centers for Google and Meta Platforms, as well as Panasonic's EV battery facility, indicating growth opportunities [4] - Evergy is viewed as a stable investment in a potentially volatile market, benefiting from its regulated monopoly status and increasing electricity demand [5] Group 2: U.S. Bancorp (USB) - U.S. Bancorp is the fourth-largest bank in the U.S., with operations in 26 states and over 2,250 branches [6] - The bank has a forward dividend yield of over 3.8%, which is currently lower due to a rise in stock price rather than a dividend cut, as it has increased dividends for 14 consecutive years [7] - The stock is trading at a forward price-to-earnings ratio of 12.4, significantly below the S&P 500 financials sector average of nearly 17.5 [8] - The outlook for U.S. Bancorp is improving, with potential benefits from Federal Reserve interest rate cuts and possible regulatory relaxations in the banking industry [9]

Group 1 - The article highlights the author's long-standing interest in covering regulated utilities, including gas, electric, and water utilities [1] - It mentions that the author has covered more than two dozen regulated utilities over the years, indicating extensive experience in this sector [1] Group 2 - The article promotes a free 2-week trial for readers to access in-depth research on various financial instruments, including REITs, mREITs, and ETFs [2] - It emphasizes the benefits of joining the service, such as access to a Ratings Tracker with buy/sell recommendations [2] Group 3 - The offer includes a free copy of the author's new book, "REITs for Dummies," as an additional incentive for readers [3]

Evergy, Inc. (EVRG) reported third-quarter 2024 operating earnings per share (EPS) of $2.02, which surpassed the Zacks Consensus Estimate of $1.95 by 3.6%. The bottom line also increased 7.4% from the year-ago quarter’s figure of $1.88.EPS in the reported quarter benefited from new retail rates, FERC-regulated investments and growth in weather-normalized demand, partially offset by cooler summer weather, and higher depreciation and amortization expenses.Stay up-to-date with all quarterly releases: See Zacks ...

Evergy Inc (EVRG) came out with quarterly earnings of $2.02 per share, beating the Zacks Consensus Estimate of $1.95 per share. This compares to earnings of $1.88 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.59%. A quarter ago, it was expected that this electric utility would post earnings of $0.99 per share when it actually produced earnings of $0.90, delivering a surprise of -9.09%.Over the last four quarters, the compa ...