Press release
Evergy Announces Second Quarter 2024 Results, Declares Quarterly Dividend and Reaffirms 2024 Guidance
Second Quarter 2024 GAAP EPS of $0.90, compared to $0.78 in 2023 Second Quarter 2024 Adjusted EPS (Non-GAAP) of $0.90, compared to $0.81 in 2023 Declares
About this update from Evergy, Inc.
[{"type":"text","content":"\n\nSecond Quarter 2024 GAAP EPS of $0.90, compared to $0.78 in 2023\n\n\n\nSecond Quarter 2024 Adjusted EPS (Non-GAAP) of $0.90, compared to $0.81 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 second quarter 2024 GAAP earnings of $207.0 million, or $0.90 per share, compared to GAAP earnings of $179.1 million, or $0.78 per share, for the second quarter 2023.\n\n\nEvergy’s second quarter 2024 adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) were $207.0 million and $0.90, respectively, compared to $186.1 million and $0.81 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\nSecond quarter 2024 adjusted earnings (non-GAAP) per share were higher than last year due primarily to warmer than normal weather, growth in weather-normalized demand, new retail rates and higher transmission margin, partially offset by higher operation and maintenance expense, higher depreciation and amortization expense and higher interest expense.\n\n\n\"The overall economic development pipeline remains robust in both Kansas and Missouri. Our focus on affordability and regional rate competitiveness is an important contributor to this large pipeline and provides a foundation of support for the tremendous potential in our states. We are very excited to work with these potential customers as they consider our region, building on our successes with the Panasonic electric vehicle battery manufacturing plant and the Meta and Google data centers,” said David Campbell, Evergy chairman and chief executive officer. \"Following solid performance in the second quarter, we remain on track to meet our expectations for the year.”\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 reconciled to GAAP EPS guidanc...