Welcome to our dedicated page for Evergy news (Ticker: EVRG), a resource for investors and traders seeking the latest updates and insights on Evergy stock.
Evergy, Inc. (NASDAQ: EVRG) is a regulated electric utility serving approximately 1.7 million customers in Kansas and Missouri. News about Evergy often centers on its financial performance, capital investment plans, regulatory developments and resource strategy in the electric bulk power transmission and control sector. The company regularly issues earnings releases that provide GAAP and non-GAAP results, guidance updates and commentary from management on demand trends, weather impacts, cost drivers and regulatory outcomes.
Investors following EVRG news can expect recurring coverage of quarterly and annual earnings, including adjusted earnings and adjusted earnings per share, along with explanations of how items such as mark-to-market impacts of economic hedges and losses from non-regulated investments affect reported results. Evergy’s announcements also describe dividend declarations on its common stock and multi-year earnings growth targets, which are of interest to income-focused and long-term shareholders.
Evergy’s news flow also includes updates on financing and balance sheet actions, such as term loan agreements, issuance of mortgage bonds by its utility subsidiaries and repurchases of portions of its 4.50% Convertible Notes due 2027. Regulatory and legislative developments in Kansas and Missouri feature prominently, including rate case settlements, new retail rates, and state laws that support infrastructure investment, wildfire risk mitigation and the ability to attract large customers like data centers.
Another important stream of EVRG news involves Evergy’s resource mix and clean energy initiatives. The company reports that about half of its power comes from carbon-free sources and highlights approvals for new natural gas and solar projects. Through a memorandum of understanding with TerraPower and the Kansas Department of Commerce, Evergy is exploring the potential siting of TerraPower’s Natrium advanced nuclear reactor and energy storage system in Kansas, which has generated attention from policymakers and stakeholders.
By monitoring Evergy news, readers can track how the company navigates weather variability, demand growth, regulatory decisions, capital investment, and its stated mission to produce, transmit and deliver reliable, affordable and sustainable energy in its service territories.
Evergy (NYSE: EVRG) has announced the appointment of C. John Wilder and former U.S. Senator Mary L. Landrieu to its Board of Directors, effective March 1. These appointments aim to enhance the Board's expertise amid Evergy's ongoing Sustainability Transformation Plan (STP), which targets a long-term earnings growth rate of 6% to 8% through 2024. Additionally, Bluescape Energy Partners will invest approximately $115 million in Evergy, signaling confidence in the company's strategic direction. The revamped Finance Committee will focus on competitive performance metrics to drive operational efficiency.
Evergy, Inc. (NYSE: EVRG) reported 2020 GAAP earnings of $618 million ($2.72/share), down from $670 million ($2.79/share) in 2019. The decline was attributed to lower retail sales due to unfavorable weather and pandemic impacts, higher depreciation, and increased interest expenses. However, adjusted earnings rose to $706 million ($3.10/share), a 7% increase from 2019, aligning with the company's growth target. A dividend of $0.535 per share was declared, payable on March 22, 2021. For 2021, GAAP EPS guidance is set at $3.14-$3.34, with infrastructure investments of $9.2 billion planned through 2025.
Evergy, Inc. (NYSE: EVRG) will announce its fourth quarter 2020 earnings on February 26, 2021, prior to market opening. A conference call will follow at 8:00 a.m. Eastern, with options to join by phone or via an audio webcast. Supplemental financial information will be available on the company's website. A replay of the call can be accessed from about 1 p.m. Eastern on the same day until March 5, 2021.
Librestream, a leader in augmented reality solutions, announced strategic investments from Honeywell (NYSE: HON) and Evergy Ventures (NYSE: EVRG). These investments aim to enhance workforce transformation across various industries. CEO John Bishop emphasized the increasing focus on remote workforce digitization. Honeywell's investment builds on their existing partnership, while Evergy Ventures seeks to innovate within the energy sector. The collaborations are expected to drive operational efficiencies and safety improvements through Librestream's advanced solutions.
Evergy, Inc. (NYSE: EVRG) has appointed Kirk Andrews as the new executive vice president and chief financial officer, effective February 22, 2021. He replaces Tony Somma, who announced his departure on January 8. Andrews, previously CFO at NRG Energy, will oversee corporate financial functions, performance management, and renewable energy development. His role is pivotal as Evergy aims to execute its Sustainability Transformation Plan, which targets 5% to 6% annual rate base growth and 6% to 8% EPS growth through 2024, enhancing system reliability and sustainability.
Evergy, Inc. (NYSE: EVRG) announces the retirement of Tony Somma, Executive Vice President and Chief Financial Officer, after 27 years with the company and its predecessor, Westar Energy. Somma will assist in the transition until a successor is appointed. Board Chair Mark Ruelle highlighted Somma's vital role in ensuring financial stability and developing the Sustainability Transformation Plan (STP). Evergy, serving 1.6 million customers in Kansas and Missouri, is committed to renewable energy, with nearly half of its power sourced from emission-free generation.
Evergy, Inc. (NYSE: EVRG) has appointed David A. Campbell as the new President and CEO, effective January 4, 2021, succeeding Terry Bassham, who will remain until Campbell joins. Campbell brings over 25 years of experience, recently serving as CFO of Vistra Corporation, where he led significant financial improvements. Evergy aims for a 6% to 8% growth in earnings per share through its Sustainability Transformation Plan, focusing on cost reductions and enhanced grid reliability. The company reaffirmed its 2020 earnings guidance with GAAP EPS between $2.58 to $2.73.
Evergy, Inc. (NYSE: EVRG) reaffirmed its commitment to its Sustainability Transformation Plan (STP), asserting it provides the highest value for shareholders. Since the STP announcement, no third-party offers have emerged. The plan, developed after an extensive review, aims for top-quartile earnings and dividend growth while focusing on grid modernization and renewable energy. Supported by three independent financial advisors, Evergy believes it has backing from many regulatory stakeholders. The company remains open to new ideas to enhance shareholder value.
Evergy, Inc. (NYSE: EVRG) reported third quarter 2020 earnings of $365 million or $1.60 per share, slightly down from $367 million or $1.56 per share in Q3 2019. Adjusted earnings for Q3 2020 were $393 million and $1.73 per share, an increase from $370 million and $1.57 per share YoY. The rise in earnings was attributed to lower operational costs and increased residential demand, partially offset by a decrease in gross margin due to adverse weather. Evergy narrowed its 2020 EPS guidance to $2.58 to $2.73. A dividend of $0.535 per share was declared, payable on December 21, 2020.
Evergy partners with Plug and Play to launch an innovation hub in Topeka focused on animal health and agriculture technology. This collaboration is designed to support startups by providing access to resources and expertise in clean energy, as Evergy sources over 50% of its energy from carbon-free sources. Jeff Martin, Vice President at Evergy, emphasizes the importance of innovative resources for business evolution. Starting with the selection of 8-10 startups annually, this partnership aims to enhance community growth and foster sustainable practices in energy usage.