Investors interested in stocks from the Utility - Electric Power sector have probably already heard of Evergy Inc (EVRG) and Consolidated Edison (ED) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look. Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank is a proven strategy that tar ...

Core Viewpoint - Evergy Inc (EVRG) is outperforming its peers in the Utilities sector, with a year-to-date return of 5.5% compared to the sector's average return of -0.7% [4]. Company Performance - Evergy Inc is currently ranked 2 (Buy) in the Zacks Rank system, indicating a positive outlook based on earnings estimates and revisions [3]. - The Zacks Consensus Estimate for Evergy's full-year earnings has increased by 0.2% over the past quarter, reflecting improving analyst sentiment [3]. - The stock has returned approximately 5.5% since the beginning of the calendar year, outperforming the Utilities sector [4]. Industry Context - Evergy Inc belongs to the Utility - Electric Power industry, which includes 59 companies and currently holds a Zacks Industry Rank of 94 [5]. - The average return for the Utility - Electric Power industry has been a loss of 2.2% year-to-date, indicating that Evergy is performing better than its industry peers [5]. - Another stock in the Utilities sector, MGE (MGEE), has also outperformed with a year-to-date return of 12.5% [4].

Evergy, Inc. (EVRG) reported first-quarter 2024 operating earnings per share (EPS) of 54 cents, which lagged the Zacks Consensus Estimate of 61 cents by 11.5%. Earnings decreased 8.5% year over year.EPS in the reported quarter benefited from new retail rates and better transmission margin, while higher operating and interest expenses, along with unfavorable impact of weather on demand completely offset the positives.Total RevenuesFirst-quarter revenues of $1.33 billion surpassed the Zacks Consensus Estimate ...

Financial Data and Key Metrics Changes - For Q1 2024, the company reported adjusted earnings of $0.54 per share, down from $0.59 per share in Q1 2023, primarily due to higher operations and maintenance expenses, depreciation, and interest expenses [24][68][70] - Weather-normalized retail sales decreased by 0.5% compared to Q1 2023, driven mainly by lower commercial and industrial demand [46][47] Business Line Data and Key Metrics Changes - The company highlighted significant demand from three major customers: Google, Panasonic, and Meta, which collectively represent approximately 750 megawatts of load [26][40] - The ongoing effects of changes in transformer labor capitalization approaches were noted, with a year-over-year decrease of about $0.02 [8][22] Market Data and Key Metrics Changes - The overall economic development pipeline in Kansas and Missouri shows promise, with over $10 billion in projects considering locating in the service territories [40][41] - The company extended its weather-normalized demand growth forecast to 2% to 3% through 2028, reflecting a strong local labor market [41][70] Company Strategy and Development Direction - The strategic focus remains on affordability, reliability, and sustainability, with plans for significant capital investment to support economic development [27][66] - The company is preparing for the impact of new EPA rules in its Integrated Resource Plan (IRP), which will include considerations for carbon capture and storage [60][99] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of industrial demand, anticipating that large customers from recent economic development wins will begin to come online later this year [48][124] - The company reaffirmed its adjusted EPS guidance range for 2024 and long-term adjusted EPS growth target of 4% to 6% through 2026 [113][49] Other Important Information - The passage of House Bill 2527 in Kansas is expected to mitigate regulatory lag and support infrastructure investment, with an estimated impact of $0.03 to $0.04 per share in the first year following a rate case [28][63][85] - The company has reduced carbon emissions by 53% since 2005 and aims to continue its responsible transition of the generation fleet [44][62] Q&A Session Summary Question: What is the expected impact of House Bill 2527 on earnings? - Management indicated that the bill would reduce regulatory lag and improve returns, estimating an impact of $0.03 to $0.04 per share in the first year following a rate case [85][102] Question: How does the company view the current retail sales trends? - Management noted that while retail sales were flat last year, they expect a recovery driven by strong residential and commercial sectors, alongside new industrial customers coming online [88][124] Question: What are the implications of the new EPA regulations on resource planning? - The company stated that the new EPA rules would be factored into future IRPs, impacting the analysis of gas unit additions and coal retirement timelines [99][100]

Financial Performance - First quarter 2024 GAAP earnings were $122.7 million, or $0.53 per share, compared to $142.6 million, or $0.62 per share in Q1 2023, representing a decrease of approximately 14% in earnings [2][8]. - Adjusted earnings (non-GAAP) for Q1 2024 were $124.7 million, or $0.54 per share, down from $136.1 million, or $0.59 per share in Q1 2023, reflecting a decline of about 8% [3][12]. - The impact of mild winter weather reduced earnings by an estimated $(0.07) per share compared to normal weather conditions [4]. - The increase in operation and maintenance expenses, depreciation, and interest expenses contributed to the decline in adjusted earnings [4]. Guidance and Targets - The company reaffirmed its 2024 GAAP EPS guidance range of $3.73 to $3.93, consistent with its adjusted EPS (non-GAAP) guidance for the same period [6][8]. - Evergy's long-term adjusted EPS (non-GAAP) annual growth target is set at 4% to 6% through 2026, based on the original $3.65 midpoint of 2023 adjusted EPS guidance [6]. Dividends - A quarterly dividend of $0.6425 per share was declared, payable on June 20, 2024, to shareholders of record as of May 20, 2024 [7][8]. Customer Base and Sustainability - Evergy serves approximately 1.7 million customers in Kansas and Missouri, with about half of its power generated from carbon-free sources [19]. - The company is focused on delivering affordable, reliable, and sustainable electric power, supported by recent legislative changes in Kansas [5]. Management Perspective - Management emphasizes that adjusted earnings (non-GAAP) provide a meaningful basis for evaluating operations across periods, excluding items not indicative of ongoing performance [11][12].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______to_______ | | Exact name of registrant as specified in its charter, | | | --- | --- | --- | | Commission | state of incorporation, address of pr ...

Evergy (EVRG) is scheduled to release first-quarter 2024 results on May 9, before market open. The company delivered a negative earnings surprise of 10% in the last reported quarter.Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.Factors to ConsiderThe company’s earnings are expected to have benefited from ongoing investments that are targeted toward grid modernization. It is also likely to have gained from energy efficiency programs and cost-saving initiatives.Ev ...

Justin PagetEvergy, Inc. (NASDAQ:EVRG) is a regulated utility that supplies electricity to over 1.6 million customers in Kansas and Missouri. Shares of Evergy have not done well since early 2020 given the beginning of the pandemic in 2020 and interest rate headwinds since 2022. Data by YCharts On February 29, 2024, Evergy reported 2023 results that reflected headwinds. Nevertheless, Evergy management is optimistic about EPS growth, rate base growth, and load growth in the future. In terms of the future, ...

KANSAS CITY, Mo.--(BUSINESS WIRE)--Evergy, Inc. (NASDAQ: EVRG) announced today that Mark Ruelle will not stand for reelection at Evergy’s annual meeting on May 7, 2024 as he retires from Evergy’s board of directors and his role as chairman at the end of his term. David Campbell, Evergy’s president and chief executive officer, has been nominated by the board of directors to assume the role of chairman of the board following Evergy’s annual meeting. Ruelle has served as non-executive chairman of the board si ...

Evergy, Inc. (EVRG) reported fourth-quarter 2023 operating earnings per share (EPS) of 27 cents, which lagged the Zacks Consensus Estimate of 30 cents by 10%. Earnings decreased 10% year over year.In 2023, EPS was $3.54 compared with $3.71 in the year-ago period. The year-over-year decline in EPS was due to higher interest expense, unfavorable weather, offset marginally by lower operations and maintenance expense, and higher corporate-owned life insurance proceeds.Total RevenuesIn 2023, revenues were down n ...