Press release
Evergy Announces 2021 Results, Declares Quarterly Dividend, and Reaffirms 2022 Guidance
2021 GAAP EPS of $3.83, compared to $2.72 in 2020 2021 Adjusted EPS (Non-GAAP) of $3.54, compared to $3.10 in 2020 Declares quarterly dividend of $0.5725 per
About this update from Evergy, Inc.
[{"type":"text","content":"\n\n2021 GAAP EPS of $3.83, compared to $2.72 in 2020\n\n\n2021 Adjusted EPS (Non-GAAP) of $3.54, compared to $3.10 in 2020\n\n\nDeclares quarterly dividend of $0.5725 per share\n\n\nReaffirms 2022 EPS guidance of $3.43 to $3.63\n\n\nUpdates five-year $10.7B capital plan through 2026\n\n\n KANSAS CITY, Mo.--(BUSINESS WIRE)--\nEvergy, Inc. (NYSE: EVRG) today announced full year GAAP 2021 earnings of $880 million, or $3.83 per share, compared to earnings of $618 million, or $2.72 per share, for the full year 2020. Fourth quarter 2021 GAAP earnings were $53 million, or $0.23 per share, compared to earnings $51 million, or $0.22 per share, for the fourth quarter of 2020.\n\nEvergy’s 2021 adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) were $813 million and $3.54, respectively, compared to $706 million and $3.10 in 2020, resulting in a 14% year-over-year increase and a 7% increase over the $3.30 mid-point of the Company’s original 2021 adjusted EPS guidance range.\n\nFourth quarter adjusted earnings (non-GAAP) were $37 million, or $0.16 per share, compared to $64 million and $0.28 per share in the fourth quarter of 2020. Fourth quarter earnings per share were lower driven by unfavorable weather, higher operational costs due primarily to timing and phasing, and income tax related items, partially offset by favorable weather-normalized demand. 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\nFor the year, adjusted earnings (non-GAAP) per share were driven higher primarily by favorable weather for most of the year, higher weather normalized demand, increased transmission revenue, higher AFUDC and investment earnings, and lower income tax expense.\n\n“Our continued focus on execution allowed us to meet or exceed our 2021 objectives centered around affordability, reliability and sustainability.” said David Campbell, Evergy president and chief executive officer. “We look forward to continuing this positive momentum in 2022 by setting ambitious goals that focus on delivering near-term and long-term benefits for customers and stakeholders.”\n\nEarnings Guidance\n\nThe Company reaffirmed its 2022 EPS guidance range of $3.43 to $3.63, as well as its long-term adjusted EPS annual growth target of 6% to 8% through 20...