Press release
Evergy Announces Second Quarter 2023 Results, Declares Quarterly Dividend and Reaffirms 2023 Guidance
Second Quarter 2023 GAAP EPS of $0.78, Compared to $0.84 in 2022 Second Quarter 2023 Adjusted EPS (Non-GAAP) of $0.81, Compared to $0.84 in 2022 Declares
About this update from Evergy, Inc.
[{"type":"text","content":"\n\nSecond Quarter 2023 GAAP EPS of $0.78, Compared to $0.84 in 2022\n\n\n\nSecond Quarter 2023 Adjusted EPS (Non-GAAP) of $0.81, Compared to $0.84 in 2022\n\n\n\nDeclares Quarterly Dividend of $0.6125 per share\n\n\n\n2023 GAAP EPS Guidance of $3.55 to $3.75; Reaffirms 2023 Adjusted EPS (Non-GAAP) Guidance of $3.55 to $3.75\n\n\n\n KANSAS CITY, Mo.--(BUSINESS WIRE)--\nEvergy, Inc. (NASDAQ: EVRG) today announced second quarter 2023 GAAP earnings of $179.1 million, or $0.78 per share, compared to GAAP earnings of $194.5 million, or $0.84 per share, for second quarter 2022.\n\n\nEvergy’s second quarter 2023 adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) were $186.1 million and $0.81, respectively, compared to $194.5 million and $0.84 in 2022. 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 adjusted earnings (non-GAAP) per share were driven by higher weather-normalized demand, lower operations and maintenance expense, and higher transmission margin, partially offset by unfavorable weather compared to the corresponding period in the prior year, higher depreciation and amortization expense, and higher interest expense.\n\n\n“We remain on track to meet our expectations for the year after delivering solid second quarter performance,\" said David Campbell, Evergy president and chief executive officer. \"We'd like to thank the nearly 3,500 Evergy employees, contractors and personnel from neighboring utilities that assisted in making repairs, working with customers, and restoring power following the July 14 storms that produced 80-100 mph winds across our service territory - our most impactful storm event in recent history. Going forward, we remain laser-focused on executing our strategy of investing in beneficial infrastructure to drive continued improvement in affordability, reliability and sustainability for our customers and communities.\"\n\n\nEarnings Guidance\n\n\nThe Company reaffirmed its 2023 GAAP EPS guidance range of $3.55 to $3.75, along with its 2023 adjusted EPS (Non-GAAP) guidance range of $3.55 to $3.75. Additionally, the Company reaffirmed its long-term adjusted EPS (Non-GAAP) annual growth target of 6% to 8% through 2025 from the $3.30 midpoint of the original 2021 adjuste...