Press release
Evergy Announces First Quarter 2024 Results, Declares Quarterly Dividend and Reaffirms 2024 Guidance
First Quarter 2024 GAAP EPS of $0.53, compared to $0.62 in 2023 First Quarter 2024 Adjusted EPS (Non-GAAP) of $0.54, compared to $0.59 in 2023 Declares
About this update from Evergy, Inc.
[{"type":"text","content":"\n\nFirst Quarter 2024 GAAP EPS of $0.53, compared to $0.62 in 2023\n\n\n\nFirst Quarter 2024 Adjusted EPS (Non-GAAP) of $0.54, compared to $0.59 in 2023\n\n\n\nDeclares quarterly dividend of $0.6425 per share\n\n\n\nReaffirms 2024 GAAP and Adjusted (Non-GAAP) EPS guidance of $3.73 to $3.93\n\n\n\n KANSAS CITY, Mo.--(BUSINESS WIRE)--\nEvergy, Inc. (NASDAQ: EVRG) today announced first quarter 2024 GAAP earnings of $122.7 million, or $0.53 per share, compared to GAAP earnings of $142.6 million, or $0.62 per share, for the first quarter 2023.\n\n\nEvergy’s first quarter 2024 adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) were $124.7 million and $0.54, respectively, compared to $136.1 million and $0.59 in 2023. 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\nRelative to the same period in 2023, first quarter 2024 adjusted earnings (non-GAAP) per share were driven by higher operation and maintenance expense, higher depreciation and amortization expense and higher interest expense partially offset by new retail rates and transmission margin. As was the case last year, mild winter weather impacted retail sales, reducing earnings in the quarter by an estimated $(0.07) per share relative to normal weather.\n\n\n\"On April 18, Governor Laura Kelly signed into law Kansas House Bill 2527, which enhances the state's regulatory framework and supports our shared goal of bringing new economic development to Kansas. We would like to thank the governor's office, legislative leaders and other stakeholders for their participation and engagement,\" said David Campbell, Evergy chairman, president and chief executive officer. \"We remain well-positioned to meet our 2024 and long-term targets and are laser-focused on executing our strategy of delivering affordable, reliable and sustainable electric power to our customers.\"\n\n\nEarnings Guidance\n\n\nThe Company reaffirmed its 2024 GAAP EPS guidance range of $3.73 to $3.93, along with its 2024 adjusted EPS (non-GAAP) guidance range of $3.73 to $3.93. Additionally, the Company reaffirmed its long-term adjusted EPS (non-GAAP) annual growth target of 4% to 6% through 2026 off the original $3.65 midpoint of 2023 adjusted EPS guidance. Adjusted EPS (non-GAAP) guidance is re...