Evergy Stock Earnings Reports

Evergy announced a fifth large-customer electric service agreement (ESA) and amendments to two previously signed ESAs, boosting near-term margins and strengthening its multi-year growth outlook. Q1 2026 adjusted EPS was $0.69 ( $162M ), up from $0.55 a year ago, driven by regulated investment recovery, weather-normalized demand growth (+4.7% in Q1) and contributions from large customers. Management reaffirmed 2026 adjusted EPS guidance of $4.14–$4.34 (midpoint $4.24) and a long-term adjusted EPS growth target of 6%–8%+ through 2030, with expected annual growth exceeding 8% beginning in 2028. The announced ESAs and amendments increase the 2025–2030 retail load CAGR to ~7%–8% (up from ~6%) and raise the five-year rate base CAGR to ~12% (vs. prior ~11.5%), modestly increasing the capital plan above the previously disclosed $21.6 billion. Evergy expects to serve up to ~2.25 GW of new large-customer capacity by 2030 (and ~3 GW including certain non-LLPS customers) with additional pipeline opportunities beyond 2030. Credit metrics improved: projected FFO-to-debt of ~14%–15% (2026–2028) and strengthening thereafter (also reflecting a three-year flowback of Kansas nuclear production tax credits). Regulatory activity: 2026 Integrated Resource Plans will be filed in Kansas (Q2) and Missouri (filed today); Missouri Metro rate case is underway with potential new rates effective ~Jan 1, 2027. Capital and financing: equity issuance plan unchanged at $700M–$900M/year (2026–2029), with 2026 remaining needs to be funded largely via ATM; no block equity planned. Management expects at least one more ESA in 2026 and highlights ongoing affordability, reliability and an all-of-the-above generation strategy (natural gas, storage, solar) to serve growth.