Evergy Q1 Earnings Miss Estimates, Revenues Increase Y/Y

Core Viewpoint - Evergy, Inc. reported first-quarter 2025 operating earnings per share (EPS) of 54 cents, missing the Zacks Consensus Estimate of 66 cents by 18.2% [1] - The company's quarterly revenues totaled $1.37 billion, falling short of the Zacks Consensus Estimate of $1.41 billion by 2.8% [2] Financial Performance - Adjusted EPS was influenced by the recovery of regulated investments, but was negatively impacted by lower demand due to an unplanned customer maintenance shutdown, increased interest expenses, and higher depreciation and amortization expenses [1] - Fuel and purchased power costs were $355.3 million, down 5.6% from $376.4 million in the year-ago quarter [3] - Operating and maintenance expenses remained flat at $232 million year over year [3] - Interest expenses increased by 14.5% year over year to $152.5 million [3] Financial Position - Cash and cash equivalents as of March 31, 2025, were $35.3 million, up from $22 million as of December 31, 2024 [4] - Long-term debt increased to $12.4 billion from $11.81 billion as of December 31, 2024 [4] - Cash provided by operating activities in the first three months of 2025 was $449.6 million, compared to $317.3 million in the year-ago quarter [4] Guidance and Outlook - The company reaffirmed its 2025 GAAP EPS and adjusted EPS guidance of $3.92-$4.12, with the Zacks Consensus Estimate at $4.03 [5] - Evergy aims for an annual EPS growth target of 4-6% through 2029 [5] Market Position - Evergy currently holds a Zacks Rank 2 (Buy) [6]