Aug 6, 2026, 7:00 AM ETUtilities

Evergy — Second Quarter 2026 Earnings Summary

EVRGEVERGY INC

Financial Performance

Reported second quarter 2026 GAAP net income of $215.0 million ($0.91 per share), an increase from $171.3 million ($0.74 per share) in the same period in 2025.
Reported second quarter 2026 adjusted earnings (non-GAAP) of $208.5 million ($0.88 per share), up from $191.1 million ($0.82 per share) in the second quarter of 2025.
Year-to-date 2026 GAAP net income was $366.5 million ($1.55 per share), compared to $296.3 million ($1.28 per share) in the prior year period.
Year-to-date 2026 adjusted earnings (non-GAAP) were $370.3 million ($1.57 per share), compared to $318.9 million ($1.37 per share) in the prior year period.
Adjusted earnings growth was driven by recovery of regulated investments, growth in weather-normalized demand, and higher large customer revenues.
Adjusted earnings were partially offset by higher operations and maintenance expenses and higher depreciation and amortization expenses.
Non-GAAP reconciling items for the quarter included a $7.9 million gain from investments in early-stage clean energy companies (vs. a $25.4 million loss in 2025) and a $1.4 million income tax expense (vs. a $5.6 million benefit in 2025).
Year-to-date non-GAAP reconciling items included a $10.3 million loss from the repurchase of convertible notes (vs. none in 2025) and a $7.5 million gain from clean energy investments (vs. a $29.0 million loss in 2025).

Reaffirmed 2026 adjusted EPS (non-GAAP) guidance range of $4.14 to $4.34.
Reaffirmed long-term adjusted EPS annual growth target of 6% to 8%+ through 2030, based on the 2026 guidance midpoint of $4.24.
Expects annual adjusted EPS growth to exceed 8% beginning in 2028 and continuing through 2030.
Management stated the company remains on track to meet its full-year expectations following solid second-quarter performance.

Large customer interest in Kansas and Missouri remains very strong.
The company expects to execute at least one more electric service agreement in 2026.
Evergy serves 1.7 million customers in Kansas and Missouri.

The press release does not provide specific market share data, competitor names, or detailed market trend analysis beyond general demand growth.

Risks include economic and weather conditions impacting sales, prices, and costs.
Significant changes in electricity demand, particularly from data centers and large load customers, and customer adoption of alternative energy sources.
Regulatory and legal proceedings, including potential deregulation, re-regulation, and changes in tax or accounting principles.
Capital access and revenue recovery risks associated with projected rapid growth in electricity demand requiring new generation and transmission investments.
Construction and operational risks such as cost overruns, labor shortages, and supply chain disruptions.
Risks related to climate change, wildfires, and cybersecurity breaches.
Potential impacts from geopolitical conflicts on the global energy market and uranium sourcing.

David Campbell, Chairman and CEO, stated, "We remain on track to meet our expectations for the year after delivering solid second quarter financial performance."
Campbell expressed confidence in advancing the company's pipeline and executing additional electric service agreements.
The tone regarding future growth is confident, with specific reaffirmation of long-term growth targets.

The Board of Directors declared a quarterly dividend of $0.6950 per share, payable on September 18, 2026, to shareholders of record as of August 18, 2026.
In the first quarter 2026, Evergy repurchased $244.1 million aggregate principal amount of its Convertible Notes, resulting in $10.3 million in losses and fees included in interest expense.
Evergy is in the process of disposing of non-regulated investments in early-stage clean energy and energy solution companies.
A conference call with management and the investment community was scheduled for August 6, 2026, at 9:00 a.m. ET.