Evergy forecasts 2026 profit below estimates, launches new five-year capex plan

Core Viewpoint - Evergy forecasts 2026 profit below Wall Street estimates and introduces a new five-year capital spending plan of $21.6 billion to meet increasing electricity demand from large commercial and industrial customers [1] Group 1: Financial Performance - Evergy reported an adjusted profit of 42 cents per share, missing analysts' estimates of 57 cents per share [1] - The company forecasts 2026 adjusted profit to be between $4.14 and $4.34 per share, with a midpoint of $4.24, which is below the analysts' average estimate of $4.28 per share [1] Group 2: Capital Expenditure and Growth Strategy - Evergy's new capital expenditure plan is $21.6 billion, an increase from the previously announced $17.5 billion for 2025–2029 [1] - The utility has signed electric service agreements for four large customer projects, including two new customers and the expansion of two existing projects, under newly approved large load power service tariffs in Kansas and Missouri [1] Group 3: Market Position and Future Outlook - Evergy's strategy reflects a broader shift among regulated utilities to position for sustained demand growth linked to economic development and data center expansion [1] - The company expects adjusted profit growth to exceed 8% starting in 2028 and continuing through 2030 [1]