Welcome to our dedicated page for Evergy news (Ticker: EVRG), a resource for investors and traders seeking the latest updates and insights on Evergy stock.
Evergy, Inc. (symbol: EVRG) is a prominent utility company headquartered in Kansas City, Missouri. Incorporated in 2017, Evergy, Inc. specializes in the generation, transmission, distribution, and sale of electricity across Kansas and Missouri. Serving approximately 1,604,300 customers, including residential, commercial, industrial, and municipal clients, Evergy stands as a key player in the U.S. energy market.
The company employs a diverse mix of energy sources to generate electricity. These include coal, nuclear, natural gas and oil, uranium, wind, hydroelectric, landfill gas, and solar energy as well as other renewable sources, underlining its commitment to sustainability and innovation. Evergy operates about 10,100 circuit miles of transmission lines, 39,700 circuit miles of overhead distribution lines, and 12,700 circuit miles of underground distribution lines, ensuring a reliable energy supply to its vast customer base.
Evergy’s major operating subsidiaries include Evergy Metro, Evergy Kansas Central, Evergy Missouri West, and Evergy Transmission Co. The company boasts a combined rate base of approximately $19 billion, with assets evenly distributed between Kansas, Missouri, and federal jurisdictions. Notably, Evergy is one of the largest suppliers of wind energy in the United States, reflecting its leadership in the renewable energy sector.
Recent achievements include significant investments in modernizing the power grid, enhancing energy efficiency programs, and expanding renewable energy projects. Current projects focus on sustainable energy solutions and technological advancements to meet the evolving energy demands of the future. Financially, Evergy maintains a strong and stable position, supported by strategic partnerships and a dedicated focus on innovation and customer service.
Through its comprehensive energy solutions and commitment to sustainability, Evergy continues to play a vital role in the region's development, offering reliable and efficient energy to millions while driving forward the transition to a greener and more resilient energy infrastructure.
Evergy (NASDAQ: EVRG) reported strong Q3 2024 results with GAAP earnings of $465.6 million ($2.02 per share), up from $351.6 million ($1.53 per share) in Q3 2023. The company increased its quarterly dividend by 4% to $0.6675 per share and announced a $16.2 billion capital investment plan for 2025-2029. Evergy reaffirmed its 2024 EPS guidance of $3.73-$3.93 and established 2025 guidance of $3.92-$4.12. The improved performance was driven by new retail rates, FERC regulated investments, and growth in weather-normalized demand, partially offset by cooler summer weather and higher depreciation expenses.
Evergy (NASDAQ: EVRG) has announced plans to invest in two new 705 megawatt (MW) combined-cycle natural gas plants in Kansas, set to begin operations in 2029 and 2030. These high-efficiency plants aim to meet growing energy needs, support reliability, and complement Evergy's planned investments in wind and solar resources. The plants, located in Sumner County and Reno County, are expected to create over 500 construction jobs each and 20-40 permanent skilled jobs paying over $90,000 annually.
The investment aligns with Kansas' economic growth and recent bipartisan legislation enhancing policies for electric infrastructure investment. Each plant is projected to provide more than $500 million in property tax revenues over its 40-year service life, following a 10-year exemption period. Evergy's CEO, David Campbell, emphasized the plants' role in meeting electricity needs for the region's growing economy while supporting the company's commitment to affordable, reliable, and sustainable electricity.
Evergy (NASDAQ: EVRG) has announced its plans to release 2024 third quarter earnings on Thursday, November 7, 2024, before market open. The company will host a conference call and audio webcast to discuss the results on the same day at 9:00 a.m. Eastern (8:00 a.m. Central).
Investors can access the webcast and presentation slides at investors.evergy.com. Analysts wishing to join via phone will need to register for access. Supplemental financial information related to Q3 2024 performance will be posted on the company's website under Supplemental Materials in the Investors section.
Evergy serves 1.7 million customers in Kansas and Missouri, with a focus on producing, transmitting, and delivering reliable, affordable, and sustainable energy. About half of Evergy's power comes from carbon-free sources, demonstrating the company's commitment to environmental responsibility.
Evergy, Inc. (NASDAQ: EVRG) has announced the appointment of two new board members: Dean Newton and Jon Rolph. Newton, currently the president and CEO of Delta Dental of Kansas, will join the board effective Oct. 15, 2024. Rolph, the CEO of Thrive Restaurant Group, will join on Jan. 1, 2025.
Newton brings experience in leading a regulated business through evolving landscapes, while Rolph offers over two decades of business leadership and regional expertise. Both executives are active in civic and community leadership in Kansas. Newton will serve on the board's Operations Committee, and Rolph on the Finance Committee.
Evergy's CEO, David Campbell, emphasized the importance of these appointments in navigating the company's growth and changes in the energy sector, as well as maximizing economic development opportunities in their service territory.
Evergy (NASDAQ: EVRG) has announced the appointment of W. Bryan Buckler as its new executive vice president and chief financial officer, effective October 1, 2024. Buckler, 51, joins Evergy from OGE Energy Corp. (NYSE: OGE), where he has served as CFO since January 2021. In his new role, Buckler will oversee Evergy's corporate finance functions, including treasury, accounting, planning, tax, internal audit, capital allocation, and investor relations.
Buckler brings extensive experience from his previous roles at OGE Energy Corp. and Duke Energy , where he held various finance leadership positions. Geoff Ley, Evergy's current acting CFO, will continue in his role until September 30, 2024, before transitioning back to his position as treasurer and vice president of corporate planning.
Evergy (NASDAQ: EVRG) reported second quarter 2024 GAAP earnings of $207.0 million, or $0.90 per share, compared to $179.1 million, or $0.78 per share, in Q2 2023. Adjusted earnings (non-GAAP) were also $207.0 million and $0.90 per share, up from $186.1 million and $0.81 per share in 2023. The increase was primarily due to warmer weather, growth in weather-normalized demand, new retail rates, and higher transmission margin. Evergy reaffirmed its 2024 GAAP and adjusted EPS guidance of $3.73 to $3.93 and its long-term adjusted EPS annual growth target of 4% to 6% through 2026. The company declared a quarterly dividend of $0.6425 per share.
Evergy (NASDAQ: EVRG) has announced its plans to release 2024 second quarter earnings on Friday, August 9, 2024, before market open. The company will host a conference call and audio webcast to discuss the results on the same day at 9:00 a.m. Eastern (8:00 a.m. Central). Investors can access the webcast and presentation slides at investors.evergy.com, while analysts need to register for phone access.
Evergy serves 1.7 million customers in Kansas and Missouri, focusing on producing, transmitting, and delivering reliable, affordable, and sustainable energy. About half of Evergy's power comes from carbon-free sources. The company aims to empower a better future by managing energy use efficiently, creating a safe and diverse workplace, and adding value for investors.
Evergy (NASDAQ: EVRG) announced that CFO Kirk Andrews will leave the company to become CFO at Consolidated Edison (NYSE: ED). Andrews' departure is effective June 21, 2024. Geoffrey Ley, currently vice president, corporate planning, and treasurer, will serve as acting CFO while maintaining his current responsibilities. Ley joined Evergy in 2021 and has a strong background in financial leadership roles. Evergy's CEO, David Campbell, expressed confidence in Ley's capabilities. Evergy serves 1.7 million customers in Kansas and Missouri, focusing on delivering reliable, affordable, and sustainable energy.
Consolidated Edison (NYSE: ED) announced the retirement of Robert Hoglund as Chief Financial Officer, effective July 8, 2024. Hoglund will stay on as Senior Vice President for a transition period until his full retirement later in 2024. Kirkland B. Andrews will succeed Hoglund as Senior Vice President and CFO, also effective July 8, 2024. Andrews joins from Evergy (NASDAQ: EVRG) and has extensive experience in finance, including roles at NRG Energy, Deutsche Bank, and Citigroup. Con Edison credits Hoglund with contributing to strong results and a 50-year consecutive dividend increase. The company highlights its financial strength as a critical pillar for future growth, particularly in the clean energy sector.
Evergy, Inc. (NASDAQ: EVRG) reported First Quarter 2024 GAAP EPS of $0.53, compared to $0.62 in 2023, with Adjusted EPS of $0.54, compared to $0.59. The company declared a quarterly dividend of $0.6425 per share and reaffirmed its 2024 EPS guidance of $3.73 to $3.93. The long-term adjusted EPS growth target is 4% to 6% through 2026.
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