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, Inc. (NYSE: EVRG) has appointed Lesley Elwell as Senior Vice President and Chief Human Resources Officer, effective immediately. Elwell brings over 25 years of HR leadership experience from major companies including Walmart and DIRECTV, focusing on talent strategy and employee engagement. She succeeds Jerl Banning, who left in May 2021. Additionally, Greg Greenwood has been promoted to Executive Vice President and Chief Strategy Officer, where he will continue guiding the Sustainability Transformation Plan, initiated in August 2020, aimed at enhancing renewable energy investment and improving system resilience.
Evergy, Inc. (NYSE: EVRG) reported second quarter 2021 earnings of $185 million ($0.81 per share), significantly up from $133 million ($0.59 per share) in Q2 2020. Adjusted earnings were $195 million ($0.85 per share), compared to $154 million ($0.68 per share) year-over-year. The increase was attributed to higher weather-normalized demand, improved transmission margins, and decreased operating expenses, despite some unfavorable weather impacts. The company reaffirmed its adjusted EPS guidance for 2021 between $3.20 and $3.40 and declared a dividend of $0.535 per share, payable on September 20, 2021.
Evergy, Inc. (NYSE: EVRG) will host a Virtual Investor Day on September 21, 2021 at 9:00 AM ET. The event aims to give insights into Evergy's business strategy, operational highlights, sustainability profile, and financial outlook. Investors, analysts, and media can access the live webcast through Evergy's website, where a replay will also be available later. Evergy serves approximately 1.6 million customers in Kansas and Missouri, and is a leader in renewable energy, with nearly half of its power coming from emission-free sources.
Evergy, Inc. (NYSE: EVRG) is set to release its second quarter earnings on August 5, 2021, prior to market opening. The company will hold a conference call and audio webcast the same day to discuss financial results. Supplemental financial information related to the performance will also be posted on their investor website. Investors can join the call via phone at (888) 353-7071 or through the webcast at investors.evergy.com. A replay will be available until August 12, 2021. Evergy provides energy to 1.6 million customers across Kansas and Missouri.
Evergy has filed its inaugural Integrated Resource Plan (IRP) with the Kansas Corporation Commission, committing to sustainability by retiring 1,200 MW of coal generation and adding 3,200 MW of renewable energy over the next decade. The plan aligns with Evergy's goal of a 70% reduction in carbon emissions by 2030 and net-zero emissions by 2045. The transition involves retiring specific coal plants and enhancing the flexibility of existing facilities. This IRP will guide energy strategies through 2024 and aims to ensure reliability while promoting cleaner energy resources.
Evergy, Inc. (NYSE: EVRG) reported first quarter 2021 earnings of $192 million ($0.84 per share), a significant increase from $69 million ($0.31 per share) in Q1 2020. Adjusted earnings were $125 million ($0.55 per share), up from $94 million ($0.41). This growth was spurred by favorable power marketing margins during the February winter weather event. Evergy aims for net-zero carbon emissions by 2045 and plans to add 3,200 MW of renewable energy. The company raised its 2021 GAAP EPS guidance to $3.43-$3.63 and declared a $0.535 dividend per share.
Evergy, Inc. (NYSE: EVRG) will release its Q1 2021 earnings on May 6, 2021, before the market opens. A conference call to discuss the results is scheduled for the same day at 9:00 a.m. Eastern. Participants can join via phone at (888) 353-7071 or through a webcast at investors.evergy.com. Supplemental financial information will also be made available on the company's website. A replay of the call can be accessed after 1 p.m. Eastern on May 6 until May 13, 2021, using the same phone number.
Evergy, Inc. (NYSE: EVRG) will hold its 2021 Annual Meeting of Shareholders virtually on May 4, 2021, starting at 11 a.m. Eastern (10 a.m. Central). Shareholders will need their control numbers from proxy cards to participate. Key agenda items include the election of 13 Board members and other business matters. Evergy serves 1.6 million customers in Kansas and Missouri, focusing on clean and reliable energy, with 50% of its power coming from emission-free sources.
Evergy (NYSE: EVRG) has announced the appointment of C. John Wilder and former U.S. Senator Mary L. Landrieu to its Board of Directors, effective March 1. These appointments aim to enhance the Board's expertise amid Evergy's ongoing Sustainability Transformation Plan (STP), which targets a long-term earnings growth rate of 6% to 8% through 2024. Additionally, Bluescape Energy Partners will invest approximately $115 million in Evergy, signaling confidence in the company's strategic direction. The revamped Finance Committee will focus on competitive performance metrics to drive operational efficiency.
Evergy, Inc. (NYSE: EVRG) reported 2020 GAAP earnings of $618 million ($2.72/share), down from $670 million ($2.79/share) in 2019. The decline was attributed to lower retail sales due to unfavorable weather and pandemic impacts, higher depreciation, and increased interest expenses. However, adjusted earnings rose to $706 million ($3.10/share), a 7% increase from 2019, aligning with the company's growth target. A dividend of $0.535 per share was declared, payable on March 22, 2021. For 2021, GAAP EPS guidance is set at $3.14-$3.34, with infrastructure investments of $9.2 billion planned through 2025.
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