Press release
Evergy Announces 2020 First Quarter Results
GAAP EPS of $0.31; Adjusted EPS (Non-GAAP) of $0.41 Declares quarterly dividend of $0.505 KANSAS CITY, Mo.--(BUSINESS WIRE)-- Evergy, Inc. (NYSE: EVRG) today
About this update from Evergy, Inc.
[{"type":"text","content":"\n\nGAAP EPS of $0.31; Adjusted EPS (Non-GAAP) of $0.41\n\n\nDeclares quarterly dividend of $0.505\n\n\n KANSAS CITY, Mo.--(BUSINESS WIRE)--\nEvergy, Inc. (NYSE: EVRG) today announced first quarter 2020 earnings of $69 million, or $0.31 per share, compared with earnings of $100 million, or $0.39 per share, for the first quarter of 2019.\n\n\nEvergy’s adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) were $94 million and $0.41, respectively, in the first quarter of 2020 compared with $111 million and $0.44, respectively, in the first quarter of 2019. Adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) are reconciled to GAAP earnings in the financial table included in this release.\n\n\nFirst quarter earnings per share were lower than last year, mainly driven by unfavorable weather and lower corporate-owned life insurance (COLI) benefits. These effects were partially offset by lower operating and maintenance expenses driven by continued execution of cost management, costs incurred in 2019 from a winter storm, and fewer shares outstanding.\n\n\n“Preserving employee and public safety, while delivering safe and reliable energy to customers, is always our first priority, especially during this truly unique time,” said Terry Bassham, Evergy president and chief executive officer. “To also deliver another solid quarter of financial results under these circumstances is a testament to all our employees and management team.”\n\n\nDividend Declaration\n\n\nThe Board of Directors declared a dividend on the Company’s common stock of $0.505 per share payable on June 19, 2020. The dividends are payable to shareholders of record as of May 20, 2020.\n\n\nEarnings Conference Call\n\n\nEvergy management will host a conference call Thursday, May 7, with the investment community at 10:00 a.m. ET (9:00 a.m. CT). Investors, media and the public may listen to the conference call by dialing (888) 353-7071, conference ID 2842019. A webcast of the live conference call will be available at www.evergyinc.com.\n\n\nMembers of the media are invited to listen to the conference call and then contact Gina Penzig with any follow-up questions.\n\n\nThis earnings announcement, a package of detailed first-quarter financial information, the Company's quarterly report on Form 10-Q for the period ended March 31, 2020 and other fi...