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.
Overview
Evergy Inc. operates as a regulated electric utility, delivering reliable electricity generation, transmission, distribution, and sales services to customers in eastern Kansas and western Missouri. Leveraging a diversified energy mix that encompasses renewable energy, fossil fuels, and nuclear power, Evergy has established a robust infrastructure that supports its extensive service territory. By integrating both traditional and renewable energy sources, the company offers a balanced, multifaceted approach to meeting modern energy demands.
Business Model and Operations
The company’s operations are organized through several strategic subsidiaries, each playing a vital role in executing its mission. These subsidiaries facilitate a segmented approach to service delivery, ensuring specialized focus on urban and suburban regions while optimizing the efficiency of the transmission network. Evergy’s operational framework supports core activities such as:
- Generation: Utilizing coal, natural gas, oil, nuclear sources alongside renewable resources such as wind, solar, and hydroelectric power.
- Transmission: Maintaining and operating an extensive network of transmission lines that ensure the efficient movement of electrical energy.
- Distribution: Managing both overhead and underground systems to reliably deliver power to residential, commercial, and industrial customers.
- Sales: Engaging a diverse customer base that includes municipalities, electric utilities, and individual consumers.
Energy Generation Mix
Evergy stands out for its balanced approach to energy generation. The company strategically combines various energy sources to not only ensure supply reliability but also to adapt to the evolving landscape of energy demands. Its portfolio includes:
- Conventional Energy: Traditional methods such as coal, natural gas, and oil which contribute to providing a stable baseline power supply.
- Nuclear Energy: A vital component in the energy mix, offering consistent and low-emission power generation.
- Renewable Energy: Investments in wind, solar, hydroelectric and other renewable options position the company as a significant supplier of sustainable power, reflecting a commitment to modern energy trends.
Infrastructure and Technical Expertise
The company’s extensive transmission and distribution network exemplifies its engineering and operational expertise. With thousands of circuit miles of both overhead and underground lines, Evergy ensures that electrical power is delivered reliably across diverse geographical terrains. This robust network is maintained through advanced technical practices and continuous investments in infrastructure improvement, underscoring the company’s commitment to service reliability and operational excellence.
Market Position and Industry Role
Within a competitive and heavily regulated sector, Evergy has positioned itself as a comprehensive utility provider that focuses on operational excellence and diversified energy production. The company’s geographical focus in Kansas and Missouri, combined with its integrated business model, enables it to cater to a wide variety of customers ranging from residential households to large industrial entities. Evergy’s operational maturity is evident in its methodical approach to managing a scale of operations that spans both traditional and innovative energy practices.
Regulatory Environment and Competitive Landscape
Operating in a regulated market, Evergy adheres strictly to local and federal guidelines governing energy production, safety, and environmental impact. This compliance not only minimizes risks but also establishes the company as a reliable, transparent, and accountable utility provider. While competitors may also focus on a mix of power generation and distribution, Evergy differentiates itself through its robust infrastructure, balanced energy mix, and a long-standing commitment to safety and community service.
Commitment to Operational Excellence
Evergy Inc. continues to leverage its operational efficiencies, technical capabilities, and diversified business model to sustain its role as an essential utility provider. Through methodical investment in technology and infrastructure, the company maintains rigorous operational standards that underscore its expertise. Its integrated approach allows for seamless coordination between generation, transmission, and distribution, which is crucial for maintaining high levels of service reliability throughout its vast service territory.
Evergy (NASDAQ: EVRG) reported strong financial results for 2024, with GAAP earnings of $873.5 million ($3.79 per share), up from $731.3 million ($3.17 per share) in 2023. Adjusted earnings reached $877.9 million ($3.81 per share) compared to $815.6 million ($3.54 per share) in 2023.
The company declared a quarterly dividend of $0.6675 per share, payable March 21, 2025, to shareholders of record as of March 10, 2025. Evergy raised its 2025E-2029E capital investment plan to $17.5 billion and reaffirmed its 2025 guidance range of $3.92 to $4.12 per share.
Performance was driven by new retail rates, FERC regulated investments, and growth in weather-normalized demand, despite challenges from mild weather and higher operational costs. The company highlighted positive developments including Kansas House Bill 2527 passage and a unanimous settlement in the Missouri West rate case, along with advanced negotiations with two large data center customers from their 10-gigawatt project pipeline.
Evergy (NASDAQ: EVRG) has announced its upcoming fourth quarter 2024 earnings release and conference call, scheduled for February 27, 2025. The company will release its earnings before market open, followed by a conference call and audio webcast at 9:00 a.m. Eastern (8:00 a.m. Central).
Analysts can participate by registering for phone access, while investors can view the webcast and presentation slides at investors.evergy.com. Supplemental financial information related to Q4 2024 performance will be posted on the company's website under Supplemental Materials.
Evergy serves 1.7 million customers in Kansas and Missouri, with approximately half of its power generation coming from carbon-free sources. The company focuses on delivering reliable, affordable, and sustainable energy while maintaining commitments to stakeholder value, workplace diversity, and community engagement.
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.
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