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 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.
Evergy, Inc. (NYSE: EVRG) announced the release of its Q3 2022 earnings on November 4, 2022, before the market opens. The company will host a conference call and audio webcast on the same day at 9:00 a.m. Eastern to discuss its financial results. Supplemental financial information regarding its quarterly performance will also be made available on its investor relations website. Evergy serves approximately 1.6 million customers in Kansas and Missouri, focusing on reliable and sustainable energy while reducing environmental impact.
Evergy has acquired the 199 MW Persimmon Creek Wind Farm in Oklahoma for approximately $250 million from Scout Clean Energy and Elawan Energy. The project, which has been operational since 2018, includes 80 General Electric turbines and spans 17,000 acres. The acquisition aims to enhance Evergy's renewable energy portfolio, providing carbon-free energy to its customers in Kansas and Missouri. The sale is expected to close in Q1 2023, pending regulatory approvals.
Evergy has announced the acquisition of the Persimmon Creek Wind Farm in Oklahoma for approximately $250 million. This 199-megawatt facility aims to enhance Evergy's renewable energy offerings in the Missouri region, serving the Evergy Missouri West service area. With plans to add over 3,500 MW of renewable energy in the next decade and achieve a 70% carbon reduction by 2030, the company is committed to sustainable and reliable energy. The deal, expected to close by early 2023, is subject to regulatory approvals.
Evergy, Inc. (NYSE: EVRG) reported second-quarter 2022 GAAP earnings of $195 million, or $0.84 per share, a rise from $185 million or $0.81 per share in Q2 2021. Adjusted EPS was $0.86, up from $0.85 year-over-year. The company continues to forecast a 2022 adjusted EPS of $3.43 to $3.63. A quarterly dividend of $0.5725 per share is declared, payable on September 20, 2022. Evergy's performance was boosted by increased demand and weather conditions, although higher operational expenses were noted.
FAQ
What is the current stock price of Evergy (EVRG)?
What is the market cap of Evergy (EVRG)?
What type of energy sources does Evergy use?
How many customers does Evergy serve?
Where is Evergy headquartered?
What are Evergy's major subsidiaries?
What is Evergy's rate base value?
What recent achievements has Evergy made?
Is Evergy involved in renewable energy?
When was Evergy incorporated?
How extensive is Evergy's transmission and distribution network?
What regions does Evergy serve?
