Press release
Evergy Announces 2020 Second Quarter Results
GAAP EPS of $0.59; Adjusted EPS (Non-GAAP) of $0.68 Declares Quarterly Dividend of $0.505 Issues 2020 GAAP EPS Guidance of $2.66 to $2.86; Adjusted EPS
About this update from Evergy, Inc.
[{"type":"text","content":"\n\nGAAP EPS of $0.59; Adjusted EPS (Non-GAAP) of $0.68\n\n\nDeclares Quarterly Dividend of $0.505\n\n\nIssues 2020 GAAP EPS Guidance of $2.66 to $2.86; Adjusted EPS Guidance of $2.90 to $3.10\n\n\n KANSAS CITY, Mo.--(BUSINESS WIRE)--\nEvergy, Inc. (NYSE: EVRG) today announced second quarter 2020 earnings of $133 million, or $0.59 per share, compared with earnings of $140 million, or $0.57 per share, for the second quarter of 2019.\n\n\nEvergy’s adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) were $154 million and $0.68, respectively, in the second quarter of 2020 compared with $140 million and $0.58, respectively, in the second 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\nSecond quarter earnings per share were driven higher by favorable weather and lower operations and maintenance expense due to continued cost management and fewer shares outstanding. These benefits were partially offset by the impact of COVID-19 on sales and an adjustment to account for a new Kansas tax law that makes electric utilities income tax-exempt.\n\n\n“Our team’s unwavering focus on safety, customer service and efficient operations contributed to positive results in the quarter,” said Terry Bassham, Evergy president and chief executive officer. “As we continue to navigate an unprecedented environment, employee and public safety, and ensuring our customers receive reliable energy remain priorities. We enhanced our community giving and introduced flexible payment options to help our customers and communities during these challenging times.”\n\n\n2020 Outlook\n\n\nIn a separate press release issued today, the Company announced its new Sustainability Transformation Plan to drive increased value and benefits for the Company’s stakeholders. Including the contributions from this plan, Evergy expects 2020 GAAP EPS of $2.66 to $2.86 and 2020 adjusted EPS of $2.90 to $3.10. Adjusted EPS (non-GAAP) is reconciled to GAAP EPS in the financial table included in this release.\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 September 21, 2020. The dividends are payable to shareholders of record as of August 20, 2020.\n\n\nEarnings ...