Evergy, Inc. · NASDAQ:EVRG
Evergy — Q1 2026 Earnings Presentation
21 slides from Evergy's earnings presentation, May 7, 2026
Slide 1: First Quarter 2026 Earnings Call
First Quarter 2026 Earnings Call May 7, 2026
Slide 2: Important Information
Important Information Forward Looking Statements Statements made in this document that are not based on historical facts are forward-looking, may involve risks and uncertainties, and are intended to be as of the date when made. Forward-looking statements include, but are not limited to, statements r
Slide 3: Agenda
Agenda David Campbell, Chairman & CEO • First quarter highlights • Economic development update • Regulatory and Integrated Resource Plan update Bryan Buckler, EVP & CFO • First quarter results • Retail sales trends • 2026-2030 financial outlook 3 First Quarter 2026 Earnings Presentation
Slide 4: Business Update
Business Update David Campbell Chairman & CEO
Slide 5: First Quarter Highlights
First Quarter Highlights • First Quarter 2026 EPS Adjusted EPS1 $0.69 • GAAP: $0.64; Adjusted1: $0.69 • Solid start to year; primary earnings drivers: ↑ Recovery of regulated investments, load growth, large customer $0.55 revenues ↓ Weather, O&M, D&A • Amended two ESAs, boosting 2026 margins and off
Slide 6: Data Center Announcements
Data Center Announcements • Announcing the execution of a 5th ESA with a premier, BBB+ rated developer; data center to be constructed in our Kansas Central jurisdiction. Also announcing amendments to 2 of the original 4 LLPS ESAs; more capacity being served 2026-2030 • These developments are accreti
Slide 7: Converting Robust Large Load Customer Pipeline To ESAs
Converting Robust Large Load Customer Pipeline To ESAs Peak GW Pipeline Category Commentary Potential Tier 1 • Includes projects already in operation progressing toward a steady-state of ~1.2 GW Active Operations ~3.0 • Includes ~1.7 GW of additional announced projects with executed ESAs under LLPS
Slide 8: Regulatory Updates
Regulatory Updates • 2026 Integrated Resource Plan: expect to file in Q2 • Generation Predeterminations: filings expected throughout 2026, consistent with IRP • Nuclear PTCs (26-EKCE-141-TAR): KCC approved unanimous stipulation and agreement to return net monetization proceeds for nuclear PTCs to cu
Slide 9: Core Tenets Of Evergy Strategy
Core Tenets Of Evergy Strategy ✓ Affordability: Maintaining Affordability affordable rates while investing in infrastructure to support growth and prosperity ✓ Reliability: Targeting top-tier performance in reliability, customer service and generation Reliability Sustainability ✓ Sustainability: Adv
Slide 10: Financial Update
Financial Update Bryan Buckler EVP & CFO
Slide 11: First Quarter 2026 Adjusted EPS
First Quarter 2026 Adjusted EPS1 Adjusted EPS1 Drivers $0.69 (0.10) 0.09 0.15 $0.55 0.00 4.7% growth in weather- normalized demand; increase in large customer Two amended ESAs boost 2026 margins, revenues; and along with other revenues, offset mild (20%) decrease in weather impacts; remain on track
Slide 12: Retail Sales Trends
Retail Sales Trends 1Q26 Weather-Normalized1 Retail Sales Growth 10.1% • Solid residential demand growth; customer growth of 1.0% year-over-year. Q1 weather impact versus normal of ($0.06) • Commercial demand growth supported by data Total center project ramps Retail 3.8% 3.3% 4.7% • Industrial dema
Slide 13: Large Load Growth Profile
Large Load Growth Profile • Approval of LLPS tariffs, execution on transmission and generation capacity planning, and strong collaboration with customers and local stakeholders enabled signing ESAs for five projects in 2026 MWs served higher each year relative to previous quarterly Customer Jurisdic
Slide 14: Electric Load Growth Potential
Electric Load Growth Potential Weather-Normalized Retail Demand Weather-Normalized Retail Demand CAGRs 2025A-2030E 2025A-2030E ~10-11% ~7-8% CAGR 2025A-2030E ~7-8% ~7-8% (up from previous estimate of 6%) ~6-7% 2025A 2026E 2027E 2028E 2029E 2030E KS Central Metro MO West Evergy Annual Averages ~8-9%
Slide 15: Financial Plan Tailwinds
Financial Plan Tailwinds • New announcements: signed 5th ESA with premier developer • In tandem with amendments to two of the four ESAs we announced in February, anticipating higher load growth and revenues (minimum bills) from 2026E-2030E • Financial plan tailwinds from Q1 announcements: ▲2025A-203
Slide 16: Q&A First Quarter 2026 Earnings Presentation
Q&A 16 First Quarter 2026 Earnings Presentation
Slide 17: Appendix
Appendix
Slide 18: Generation Projects In 2026E-2030E $21.6B Capital Plan
Generation Projects In 2026E-2030E $21.6B Capital Plan Operating Company Resource Type MW COD Project Status Solar 159 2028 KCC approved Kansas Central Natural Gas (1/2 CCGT) 355 2029 KCC approved Natural Gas (1/2 CCGT) 355 2030 KCC approved Battery 200 2029 Evaluating self-build options and RFP res
Slide 19: 2026E – 2030E Financing Plan
2026E – 2030E Financing Plan Credit metrics outlook bolstered in Q1 from the signing of 5th ESA and positive amendments to two Sources & Uses previously announced ESAs. 2026E-2028E FFO/Debt estimate of 14-15% (vs. previous guidance of ~14% and Moody’s downgrade threshold of 14%), and continuing to s
Slide 20: Q1 2026 GAAP To Non-GAAP EPS Reconciliation
Q1 2026 GAAP To Non-GAAP EPS Reconciliation 20 First Quarter 2026 Earnings Presentation
Slide 21: Presentation Footnotes & Acronyms
Presentation Footnotes & Acronyms • Slide 5: 1Adjusted EPS is a non-GAAP financial measure. See appendix for reconciliation to most comparable GAAP information. 2Adjusted EPS (non-GAAP) could differ from GAAP EPS for items such as impairments, divestitures, mark-to-market impacts, the impact of regu