Press release
Evergy Announces 2022 Results, Declares Quarterly Dividend and Issues 2023 Guidance
2022 GAAP EPS of $3.27, compared to $3.83 in 2021 2022 Adjusted EPS (Non-GAAP) of $3.71, compared to $3.46 in 2021 2023 GAAP and Adjusted (Non-GAAP) EPS
About this update from Evergy, Inc.
[{"type":"text","content":"\n\n2022 GAAP EPS of $3.27, compared to $3.83 in 2021\n\n\n2022 Adjusted EPS (Non-GAAP) of $3.71, compared to $3.46 in 2021\n\n\n2023 GAAP and Adjusted (Non-GAAP) EPS guidance of $3.55 to $3.75\n\n\nDeclares quarterly dividend of $0.6125 per share\n\n\nUpdates five-year $11.6B capital plan through 2027\n\n\n KANSAS CITY, Mo.--(BUSINESS WIRE)--\nEvergy, Inc. (NASDAQ: EVRG) today announced full year 2022 GAAP earnings of $753 million, or $3.27 per share, compared to GAAP earnings of $880 million, or $3.83 per share, for the full year 2021. Fourth quarter 2022 GAAP earnings were $7.5 million, or $0.03 per share, compared to earnings of $53.4 million, or $0.23 per share, for the fourth quarter of 2021.\n\nEvergy’s full year 2022 adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) were $854 million and $3.71, respectively, compared to $795 million and $3.46 in 2021, resulting in a 7.2% year-over-year increase, and a 12.4% increase over the $3.30 midpoint of the original 2021 adjusted EPS (Non-GAAP) guidance range.\n\nFourth quarter 2022 adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) were $69 million and $0.30, respectively, compared to $33 million and $0.14, respectively, in fourth quarter 2021. 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 by higher weather-normalized demand, favorable weather, and higher transmission margin, partially offset by higher depreciation and amortization expense and higher interest expense.\n\n\"We are pleased with our strong results in 2022, exceeding the top end of our earnings per share guidance range while continuing to advance our objectives of affordability, reliability, and sustainability,\" said David Campbell, Evergy president and chief executive officer. \"We're proud of our ongoing improvements in employee safety and customer satisfaction. In 2023, we look forward to working with Kansas regulators and stakeholders on our first general rate reviews since Evergy’s formation in 2018. We remain laser-focused on our culture of operational excellence that has provided significant savings to our customers and communities.\"\n\nEarnings Guidance\n\nThe Company issued its 2023 GAAP EPS g...