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) has filed a request with the Kansas Corporation Commission for a base rate review, its first in five years, to recover investments aimed at enhancing grid reliability and customer service. The proposed net revenue increase is $204 million (9.77%) for Evergy Kansas Central and $14 million (1.95%) for Evergy Kansas Metro. The company has maintained flat rates for Kansas customers over the past five years, despite cumulative inflation of 20%. Evergy cites $232 million in merger savings shared with customers and claims nearly $1 billion in cost efficiencies since the merger in 2018. The request reflects a significant reduction of 37% in the previously anticipated rate increase. If approved, average residential bills could rise by approximately $14.24 and $3.47 for the respective service areas starting December 2023.
Evergy, Inc. (NASDAQ: EVRG) will release its 2023 first quarter earnings on May 5, 2023, prior to market open. The company will also hold a conference call on the same day at 9:00 a.m. Eastern to discuss the earnings results. Investors can access supplemental financial information related to the quarter on the company's website, along with a replay of the conference call post-event. Evergy serves approximately 1.7 million customers in Kansas and Missouri, focusing on providing reliable, affordable, and sustainable energy. The firm generates about half of its power from carbon-free sources.
Evergy, Inc. (NASDAQ: EVRG) will hold its 2023 Annual Meeting of Shareholders on May 2, 2023, at 11:00 a.m. Eastern (10:00 a.m. Central). Shareholders can join virtually via www.virtualshareholdermeeting.com/EVRG2023. Key items on the agenda include the election of 11 Board of Directors members and other business matters specified in the meeting notice. Evergy serves 1.7 million customers in Kansas and Missouri, providing reliable, affordable, and sustainable energy. Approximately half of its power originates from carbon-free sources, underscoring the company's commitment to environmental responsibility.
Evergy reported 2022 GAAP earnings of $753 million ($3.27 per share), down from $880 million ($3.83 per share) in 2021. However, the adjusted EPS increased to $3.71, marking a 7.2% year-over-year rise. The company issued 2023 EPS guidance of $3.55 to $3.75 and declared a quarterly dividend of $0.6125 per share, payable on March 22, 2023. Evergy updated its five-year capital investment plan to $11.6 billion, focusing on enhancing grid infrastructure and transitioning to renewable energy sources. The company emphasizes its commitment to affordability, reliability, and sustainability while working towards operational excellence.
Evergy, Inc. (NASDAQ: EVRG) is set to release its Q4 2022 earnings on February 24, 2023, before market open. Following the release, the company will hold a conference call at 9:00 a.m. Eastern to discuss its performance. Investors can access supplemental financial information on the company’s website alongside the earnings announcement. Approximately 1.7 million customers in Kansas and Missouri benefit from Evergy's focus on reliable, affordable, and sustainable energy, with half of its power generated from carbon-free sources. A replay of the call will also be available online.
Evergy has issued a Request for Proposals (RFP) for up to 1,240 MW of generation resources to meet customer needs by 2026. This RFP, the first since the Inflation Reduction Act, emphasizes projects over 50 MW within Kansas and Missouri. Proposals are due by February 28, 2023. The company aims to add over 3,500 MW of renewable energy and retire more than 1,900 MW of coal generation in the next decade, targeting 70% carbon reduction by 2030 and net-zero emissions by 2045. The RFP reflects Evergy's commitment to sustainable energy solutions and customer savings through federal incentives.
Evergy, Inc. (NYSE: EVRG) will transfer its stock listing from the New York Stock Exchange to the Nasdaq Global Select Market, effective December 28, 2022. The last trading day on the NYSE is December 27, 2022. CEO David Campbell emphasized that the move aims to leverage Nasdaq's technology to enhance shareholder value. Serving 1.6 million customers in Kansas and Missouri, Evergy focuses on providing reliable, sustainable energy, with around half of its power sourced from carbon-free options.
Evergy, Inc. (NYSE: EVRG) reported a third-quarter 2022 GAAP EPS of $1.86 and adjusted EPS of $2.01, reflecting a year-over-year decrease in GAAP earnings. Adjusted earnings increased slightly compared to Q3 2021. The company announced a 7% increase in its quarterly dividend to $0.6125 per share, payable on December 20, 2022. Evergy revised its 2022 GAAP EPS guidance to a range of $3.33 to $3.43 and narrowed its adjusted EPS guidance to $3.53 to $3.63. The results were driven by higher demand and favorable weather, offset by higher expenses related to depreciation and interest.
Evergy has partnered with Ericsson and Burns & McDonnell to implement a private LTE network aimed at modernizing its grid operations. Awarded in March 2022, the project includes 20 PLTE sites with the first site operational by May 2022. This initiative is designed to enhance reliability and safety while reducing latency for critical applications. The collaboration has expedited the deployment, allowing Evergy to leverage both LTE and future 5G technologies, thus enabling smarter utility operations and fulfilling its Sustainability Transformation Plan.
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