Evergy Q4 Earnings Miss Estimates, Revenues Rise Y/Y

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$961.9 million from $945.3 million last year [4] - Interest expenses rose by 7$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]