Evergy (EVRG) to Post Q2 Earnings: Here's What You Need to Know

Core Viewpoint - Evergy (EVRG) is set to release its second-quarter 2024 results on August 9, following a previous negative earnings surprise of 11.5% in the last quarter [1] Factors to Consider - In April 2024, Evergy Missouri West acquired a joint ownership interest in Dogwood Energy Center, adding nearly 145 megawatts of capacity, which is expected to enhance quarterly revenues [2] - Earnings are anticipated to benefit from ongoing investments in grid modernization, energy efficiency programs, and cost-saving initiatives, alongside economic development in service territories driving demand growth [3] Potential Challenges - Severe storms during the second quarter caused outages in some service territories, potentially negatively impacting earnings [4] - Increased depreciation and interest expenses are also likely to adversely affect the bottom line [4] Q2 Expectations - The Zacks Consensus Estimate for earnings is projected at 99 cents per share, reflecting a year-over-year increase of 22.2% [5] - The Zacks Consensus Estimate for revenues is set at $1.32 billion, indicating a decrease of 2.3% from the previous year's quarter [5] Earnings Prediction Model - The current model does not predict an earnings beat for Evergy, with an Earnings ESP of 0.00% and a Zacks Rank of 2 (Buy) [6][7] Industry Comparison - Algonquin Power & Utilities (AQN) is highlighted as a potential earnings beat candidate in the same industry, with an Earnings ESP of +9.09% and a Zacks Rank of 3 [8]