EVRG

Evergy, Inc. EVRG continues to benefit from strong economic development in its service areas, including data centers, manufacturing and industrial projects.  Rising electricity demand could support higher capital investment and rate-base growth.The company’s large and diverse customer base directly aids its long-term financial growth. These customers can create incremental electricity demand while supporting investment in generation and transmission infrastructure. Evergy recorded 3.3% year-to-date weather-normalized retail sales growth, supported by data-center project ramps and Panasonic’s continued industrial expansion. The company expects large-load demand to grow to about 2.05-2.25 gigawatts by 2030, while total electricity demand is projected to increase at a 7-8% compound annual growth rate through 2030. Evergy continues to witness strong interest from large customers across Kansas and Missouri and plans to add at least one new electric service agreement in 2026.EVRG plans to invest nearly $21.6 billion through 2030, supporting significant rate-base expansion. This investment is expected to drive around 12% annual rate-base growth and 6-8% EPS growth, with EPS growth projected to exceed 8% annually from 2028 through 2030.Overall, strong economic development and rising demand from large customers could drive higher electricity sales and encourage additional infrastructure investment. This combination is expected to provide a stronger foundation for Evergy’s long-term earnings growth. Economic development can strengthen utility growth as new businesses, manufacturing facilities, data centers and electric vehicle adoption increase electricity consumption. Rising demand encourages infrastructure investment, expands the regulated rate base and creates opportunities for sustainable earnings growth and long-term shareholder value.PPL Corporation PPL: Growing economic activity across Pennsylvania and Kentucky is driving data-center and large-load demand, supporting potential generation investments of $10-$12 billion through 2032.Alliant Energy LNT: Strong economic development, including three data centers moving through construction, could help drive 60% load growth by 2031 and support higher investment and earnings. The Zacks Consensus Estimate for 2026 and 2027 EPS indicates an increase of 10.97% and 7.06%, respectively, year over year. Image Source: Zacks Investment Research EVRG is trading at a premium relative to the industry, with a forward 12-month price-to-earnings of 18.21X compared with the industry average of 15.05X. Image Source: Zacks Investment Research In the past year, the company’s shares have risen 12.5% compared with the industry’s 10% growth. Image Source: Zacks Investment Research EVRG currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Evergy Inc. (EVRG) : Free Stock Analysis Report PPL Corporation (PPL) : Free Stock Analysis Report Alliant Energy Corporation (LNT) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Image source: The Motley Fool. Thursday, Aug. 6, 2026 at 9:00 a.m. ET Senior Director of Insurance and Investor Relations - Peter Flynn Chairman and Chief Executive Officer - David Campbell Executive Vice President and Chief Financial Officer - Bryan Buckler Operator: Good day, and thank you for standing by. Welcome to the Quarter 2 2026 Evergy, Inc. Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would like to now hand the conference over to your first speaker today, Senior Director of Insurance and Investor Relations, Peter Flynn. Please go ahead. Peter Flynn: Thank you, Courtney, and good morning, everyone. Welcome to Evergy's Second Quarter 2026 Earnings Conference Call. Our webcast slides and supplemental financial information are available on our Investor Relations website at investors.evergy.com. Today's discussion will include forward-looking information. Slide 2 and the disclosures in our SEC filings contain a list of some of the factors that could cause future results to differ materially from our expectations. They also include additional information on our non-GAAP financial measures. Joining us on today's call are David Campbell, Chairman and Chief Executive Officer; and Bryan Buckler, Executive Vice President and Chief Financial Officer. David will cover second quarter highlights, economic development, our planned resource additions and our regulatory agenda. Bryan will cover our second quarter results, retail sales trends and our financial outlook. Other members of management are with us and will be available during the Q&A portion of the call. I'll now turn the call over to David. David Campbell: Thanks, Pete, and good morning, everyone. I'll begin on Slide 5. This morning, we are pleased to report second quarter adjusted earnings of $0.88 per share compared to $0.82 per share a year ago. Our results were driven primarily by the recovery of regulated investments, load growth and revenues from our large load customers, partially offset by higher operations and maintenance and depreciation expense. Our solid results through June put us on target for the midpoint of full year 2026 adjusted EPS guidance of $4.14 to $4.34 per share. Bryan will cover our results in more detail. Safety is a core value within our organization, and I'm also pleased to report that our 2026 safety performance is trending favorably to target. This result reflects the commitment of our employees and the effectiveness of our efforts to drive continuous improvement through training, accountability and operational discipline. We are encouraged by our progress, and it's imperative that we remain disciplined going forward with the goal of sending every employee home safely every day. I also want to recognize our employees for their relentless efforts to keep the lights on during a very active Q2 storm season. In early June, we experienced back-to-back severe storms that generated straight-line winds of 115 miles per hour and multiple tornadoes that caused extensive damage across our service territory, ranging from Central and Southeastern Kansas through the Kansas City metro area. Despite these challenging conditions, our team safely restored power to more than 300,000 customers over the course of the week following the storms. We are proud of the extraordinary efforts of our transmission and distribution teams, contractors, call center representatives and customer service and communications teams and their hard work, commitment to safety and focus on serving our customers throughout the restoration process. Their dedication reflects the very best of our company. In fact, we had a major storm go through part of our territory today and they're hard at work again this morning restoring power. In terms of reliability, we have demonstrated solid performance through the first half of the year. Our added duration and frequency metrics are tracking well relative to targets, demonstrating the benefits of our continued grid investments and the efforts of our transmission and distribution teams. I'd also like to recognize our generation team for the strong operational performance of the nuclear, fossil and renewable fleet during the first 6 months of the year. In addition to our confidence in hitting our 2026 earnings guidance, our long-term fundamentals as a company continue to strengthen. That starts with the outstanding work that our employees do every day to deliver safe, reliable power. Building off of that foundation, our customer and economic development prospects continue to be exceptionally strong, as I'll speak to momentarily. When we put it all together, we have high confidence in our plan, and we are reaffirming our long-term adjusted EPS growth target of 6% to 8% plus through 2030 off of the 2026 midpoint of $4.24. We expect adjusted EPS growth to exceed 8% annually beginning in 2028 and through 2030. Slide 6 summarizes our data center announcements to date. In aggregate, we have executed ESAs for 5 data center projects under our LLPS tariffs, securing the strong protections that the tariff requires for current customers. These 5 ESAs include steady-state peak load of approximately 2.5 gigawatts. When including the 500 megawatts of steady-state peak load from non-LLPS large customers, such as Panasonic and smaller data centers, the total reaches 3 gigawatts. We continue to make progress towards agreements on expansion projects and are highly confident that we'll execute at least one more ESA in 2026. We anticipate providing more details on our third quarter call in November. Momentum with our customer pipeline and discussions on new projects is outstanding, and we expect that to continue into 2027. As a reminder, any additional ESAs would represent further upside and/or extension to the remarkable load growth and business expansion created by the 3 gigawatts of large customer ESAs already signed. These economic development wins solidify Kansas and Missouri as premier destinations for data center customers and will empower growth, enable investment and help drive prosperity for our region. Slide 7 summarizes the progress we've made in converting our large customer pipeline into signed agreements and provides an update on activity further down the queue. Starting in the top row, the 3 gigawatts include the 5 announced ESAs and large customers that have already commenced operations. This Tier 1 demand enables a transformative growth opportunity for Evergy, supporting our expected 7% to 8% annual retail load growth through 2030. This total consists of projects already in operation progressing towards a steady state of 1.3 gigawatts as well as 1.7 gigawatts of additional projects that have executed ESAs contractually requiring minimum monthly bill provisions spanning 16 to 17 years, whether or not the capacity is fully utilized. Regionally, these will deliver significant benefits, including supporting a leading-edge digital economy, creating jobs and significantly expanding the local tax base, while enabling us to spread systems costs over a broader load profile to main affordability for all customers. In the next category, we highlight approximately 2.0 to 2.5 gigawatts of expansion opportunities, up from the 1 to 1.5 gigawatts we disclosed last quarter. These expansion opportunities are at or adjacent to our existing customer sites. Further agreements -- or excuse me, future agreements related to these opportunities would require amending load ramps in existing ESAs or new ESAs, and we are working on the transmission and generation solutions to enable them. And to be clear, our 5-year financial plan does not incorporate any impact from these potential expansion projects, which would create upside in the near term and well into the 2030s, depending on individual project timing. Additionally, we are in advanced discussions with multiple new customers in our Tier 2 category, representing approximately 1 to 2.0 gigawatts. These customers have acquired land or land rights, signed letters of agreement, and we are actively reviewing transmission and generation capacity solutions. The opportunity from these customers is primarily beyond 2030. Taken collectively, the Tier 1 expansions and Tier 2 customer opportunities reflect strong momentum with multiple additional projects that would further extend our exceptional earnings and load growth well into the next decade. The remaining pipeline totaling well over 10 additional gigawatts highlights the robust activity and sustained interest in our region. Serving this load will require working in tandem with our customers to identify creative solutions with our customers who stand ready to move forward as capacity opens, allowing us to prioritize the best fit projects as the queue evolves. Slide 8 provides an overview of our expected resource addition that will support this load growth. First, the resource additions reflected in the table are consistent with our February 2026 CapEx plan of $21.6 billion over the next 5 years. Informed by our 2026 IRP preferred plans in Kansas and Missouri, we now expect approximately $1 billion of incremental capital, driven by the generation resources needed to serve the customer agreements we have secured. In total, the preferred plans through 2032 include more than 5 gigawatts of new additions with approximately 3.9 gigawatts of natural gas, nearly 800 megawatts of solar and 450 megawatts of battery storage. This resource mix reflects an all-of-the-above approach that supports reliability, affordability and long-term customer needs while positioning Evergy to serve significant economic development across Kansas and Missouri. Of note, additional load beyond the 3 gigawatts signed to date is expected to require incremental generation resource needs and incremental CapEx as a result. The 2026 IRP planning process involved identifying the most cost-effective plan that reliably serves our customers across uncertain future scenarios. These natural gas additions, combined with solar and battery storage are planned in a manner that will allow Evergy to take advantage of best-in-class efficiency and technology and support economic development in our service territory, while at the same time, helping to advance our strategic objectives of affordability and reliability. Moving to Slide 9, I'll provide a brief update on our regulatory priorities in Kansas and Missouri. On the Kansas side, we have filed notice for an upcoming predetermination application, which is planned to include 3 generation assets, a new natural gas plant, a solar farm and a battery storage facility. These new additions are consistent with the 2026 IRP preferred plan. We look forward to sharing more specifics when the application is filed later this year. Pivoting to Missouri, we continue to work through our pending Missouri Metro rate case. The procedural schedule calls for rebuttal testimony by August 11, surrebuttal and true-up direct testimony on September 10, settlement conferences commencing September 23 and hearings beginning October 5. We look forward to working collaboratively with our regulators and our stakeholders to achieve a constructive outcome for our metro customers. Similar to Kansas and Missouri, we have filed notice for an upcoming Certificate of Convenience and Necessity Request or CCN, related to a new natural gas plant, a solar farm and a battery storage facility. We will share more details once the applications are filed. Separately, we are having -- we have a pending CCN request for the planned Mullin Creek #2 facility, a 440-megawatt simple cycle gas turbine located in Nodaway County, Missouri. Staff's report is due September 15, followed by a settlement conference on September 22, with hearings beginning October 19. I'll conclude my remarks on Slide 10, which highlights the core tenets of our strategy. We remain committed to keeping customer rates affordable while making the investments necessary to support reliability, economic development and long-term growth. We have delivered significant improvements in regional rate competitiveness since our company was formed in 2018 and are today, Evergy's average residential customer rates are below national and below Midwest averages. Consistent with this ongoing focus, we signed on to the White House's Ratepayer Protection Pledge last week. Our large load tariff framework is well aligned with the principles in the pledge and is designed to ensure that new large customers pay their fair share of the infrastructure and generation costs required to serve them while at the same time helping to protect affordability for existing customers. This ensures alignment across stakeholders so that we can turn generational investment and growth opportunities into demonstrable benefits for all in our region. While our capital investment plan is higher than historical levels, it is supported by unprecedented load growth. New large load customers contribute premium revenues to help cover the cost of serving them and the investments required to support growth, while increasing energy sales allow us to spread system costs across a larger base. We expect to see customer rate increases over the next several years being in line with or below inflation for the significant majority of our residential customers. Missouri West is our smallest utility today with the lowest rates in our system and some of the lowest rates in the nation, partly because the utility is in need of infrastructure investment, in particular, new dispatchable baseload generation. As a result, as new generation plants come online to serve Missouri West, these customers may see rate increases above inflation in the next 5 years. We still anticipate their rates will remain regionally competitive and these investments will reduce the reliance on market provided energy, making rates more stable for our Missouri West customers. Longer term, as the full benefits from larger customers are realized, we are confident that we can manage residential rates to a level consistent with inflation and all Evergy customers will benefit from these infrastructure investments for decades to come. As outlined in our capital plan, we will continue to invest in grid modernization to ensure reliability as well as grid resiliency, strong customer service and generation availability. Our primary sustainability goal is to execute a cost-effective all-the-above generation strategy as reflected by our planned investments in natural gas, solar and battery storage to support our Kansas, Missouri customers. We look forward to continuing to advance a mix of resources over the coming years to support growth and prosperity in our states. I will now turn the call over to Bryan. W. Buckler: Thank you, David. Thank you, Pete, and good morning, everyone. Let's begin on Slide 12 with a review of our results. For the second quarter of 2026, Evergy delivered adjusted earnings of $209 million or $0.88 per share compared to $191 million or $0.82 per share in the second quarter of 2025. As shown on the slide from left to right, the year-over-year drivers are as follows: First, margin from load growth resulted in a $0.10 per share increase for the quarter. We recorded higher revenues this year from the March 2026 start of operations of a large data center and from Panasonic's ramp of operations. Combined, these 2 customers had an approximate $0.04 benefit to EPS compared to the prior year quarter. Overall, weather-normalized demand grew 1.8%, primarily driven by commercial and industrial demand. We also had a warmer start to the summer, resulting in an increase in cooling degree days compared to prior year with weather essentially normal in the second quarter compared to the mild weather in Q2 2025. Next, recovery of and return on regulated investments driven by new retail rates in our Kansas Central jurisdiction and FERC-regulated investments contributed $0.10 of EPS. Offsetting these favorable drivers, the combination of higher O&M and increased depreciation and interest expense net of AFUDC drove an $0.08 decrease in EPS. And finally, other items netted a decrease of $0.06, inclusive of $0.02 of dilution from convertible bonds. It has been a very solid start to the year, and we are in good shape to meet the midpoint of our 2026 EPS guidance range of $4.14 to $4.34. To assist investors and analysts with their modeling, we are providing third quarter adjusted EPS guidance of 50% to 53% as measured against the $4.24 midpoint of our 2026 adjusted EPS guidance range. Turning to Slide 13. I'll provide more detail on our sales trends. On a year-to-date basis, weather-normalized demand has grown 3.3% and remains on track with our full year expectations. This is driven primarily by higher commercial and industrial usage. Commercial demand grew 4%, reflecting the initial ramp-up and higher usage associated with data center projects. Industrial demand grew 6.2%, buoyed by Panasonic's continued ramp. At a macro level, the robust customer demand in our service areas is supported by a solid labor market as Missouri, Kansas and Kansas City metro area unemployment rates remain below the national average with a healthy increase in residential customer in-migration. We are fortunate to be able to serve in these Kansas and Missouri communities. Few regions in the United States are as well positioned to benefit from the accelerating national investment cycle in power infrastructure and data centers as the Kansas City metropolitan area. The region's deep concentration of EPC firms and highly skilled engineering talent creates a competitive advantage that should drive sustained economic development, employment growth and increased electricity demand in both Kansas and Missouri for years to come. Moving to Slide 14. We highlight our large load demand growth profile. As indicated on the chart, the large load customer ramps are already underway and are expected to continue building in aggregate through 2030 and beyond, supporting our retail load growth CAGR of approximately 7% to 8% through 2030. This reflects the impact of Digital Realty, the fifth ESA customer announced on our first quarter call. This chart illustrates a powerful period of growth anchored by long-term contracts and clear parameters on monthly billings, providing significant visibility into our earnings growth and cash flow streams for the ESA LLPS contract terms that generally span 16 to 17 years. In addition, we continue to make strong progress with several other large customers. While not reflected in the chart, we continue to execute at least -- we expect to execute at least one additional ESA in 2026 and keep this strong momentum going in 2027. The associated load and capacity that would be served under these potential incremental ESAs would represent further upside to load growth in the near term and importantly, has the potential to extend our exceptional load growth well into the 2030s. As David described, we will continue working in a measured and disciplined manner through our substantial pipeline of prospective customers to build on the success we have achieved to date. Let's close on Slide 15 by recapping our strong growth outlook. First, based on ESAs already signed, we currently project load growth of 7% to 8% through 2030. As I just mentioned, we are working with several customers on potential projects at existing and new sites that could have significant positive impacts to load growth well into the 2030s. Secondly, the foundational earnings power of the company will be fortified by our $21.6 billion capital investment plan. Based on our filed 2026 IRPs, we see incremental investment of approximately $1 billion to that forecast with further upside potential as we sign more large load customer ESAs. We plan to update our capital plan during the fourth quarter call in February. As I mentioned on our first quarter earnings call, this $1 billion increase in generation investments is projected to raise our rate base CAGR through 2030 to approximately 12% compared to our previous disclosure of 11.5%. Additional ESAs are expected to require further capacity resources and related investment. As our capital investment plan grows, we will utilize a prudent mix of debt and equity financing to support our strong investment-grade credit rating and FFO to debt that we currently project to be in the range of 14% to 15% from 2026 to 2028 with further strength in the outer years. On the equity front, we continue to make progress utilizing our ATM program, having priced approximately $425 million through forward sales agreements as of June 30 that will be settled later in 2026. This represents more than half our expected $700 million to $900 million of equity we expect to issue during the year. As we look to the remainder of the year, our remaining equity needs are addressable through our ATM program, and we currently have no plans for a block issuance. Turning to our EPS outlook. We are reaffirming the midpoint of our 2026 adjusted EPS guidance at $4.24. Beginning in 2028 and through 2030, we expect annual earnings growth to exceed 8%. As we have discussed on prior calls, we continue to forecast an approximate 250 basis point delta between rate base growth and EPS growth. which is now compared against the 12% rate base CAGR discussed earlier. In summary, continued execution on our large customer opportunities is further strengthening our financial outlook, supporting long-term growth while delivering meaningful affordability benefits for our customers. I speak for the entire leadership team in saying that we are excited about the future at Evergy and are deeply committed to successfully executing on our business plan and delivering consistent results for our customers, communities, employees and shareholders. And with that, we will open up the call for questions. Operator: [Operator Instructions] Our first question comes from the line of Steve Ambrisi with RBC Capital Markets. Stephen D’Ambrisi: Just had a quick one. Obviously, there's a lot of moving pieces here, and I appreciate that you laid out the incremental capital from the IRPs as well as kind of what could be further upside. But can you just -- if we take a step back and think about potentially what could be signed from the Tier 1 bucket in this year that you've talked about having an additional signing and just what type of generation requirements would be needed and capital requirements needed, where we think rate base growth could go? Obviously, you took it from 11.5% to 12% with this upside $1 billion. But just trying to understand kind of where growth is going here. David Campbell: Sure, Steve. I'll take a whack at it, and Bryan, feel free to supplement. We've laid out -- we've got a really exciting set of discussions that are underway with our Tier 1 -- in the Tier 1 and Tier 2 categories that we laid out on the slides. There's 2 to 2.5 gigawatts of expansion opportunities that are at or adjacent to existing sites. So we're really excited about those because we know the customers. We've got a good sense for what the needs are from a transmission and distribution infrastructure perspective. So very excited about those. And we're also excited about the Tier 2 advanced discussions as well. So there's meaningful expansion opportunity around the 3 gigawatts that we described. Now in terms of timing, what we've laid out is we expect to sign at least one additional ESA this year. We didn't specify what the timing is, but you can -- we have 5 signed ESAs, the amount of load on those ESAs is about 2.5 gigawatts. That gives you a sense, a rough sense for how big these typically are. They're not all the exact same size. That gives you a rough sense. To serve incremental load, we do expect that there are going to be additional resource requirements, primarily generation related. We're seeing cost trends that are in line with what you're seeing for other utilities. So the capital investment that would follow is pretty meaningful. So it would drive, we expect incremental CapEx. Most of the customers that we've worked with to date and the discussions that are underway today, they're looking for being provided firm power from our resources. Our LLPS tariff allows us to make sure that we're charging them for their fair share and that they're paying a premium rate. We can accommodate folks, for example, sign PPAs in the marketplace or bring generation, but most of our customers have been looking to us to provide firm power out of system resources so that we expect that to be the general trend line. So we see meaningful upside. Again, we said expect at least one additional ESA this year, but we expect the momentum from these discussions to continue into 2027. So we haven't quantified the exact amount we expect to sign this year other than saying we do expect, we have high confidence signing one additional ESA this year, and we do think it will drive incremental capital requirements. And if you look at our -- how the capital has ramped over time as we've added investments, it gives a good sense for what the potential knock-on effects would be. But how I'd really summarize is our confidence in the pipeline and the really high interest in our customers in our territory, and that's under that LLPS framework that makes sure that we're charging them an appropriate rate. Stephen D’Ambrisi: That's very helpful, David. And then just as a follow-up, not to get ahead of myself and ask for more disclosures early. But clearly, as you sign Tier 2 options to the pipeline and just that ends up adding capital to the beyond 2030 plan, any thoughts on providing a longer term, like you've seen some of your peers give capital plans or illustrative growth rates into the middle of the next decade, just to highlight the confidence in the duration of the growth profile. David Campbell: I think that, that's a fair point, Steve. We certainly want to lay out what our expectations are even from the material that we have in the ESAs we've signed, you'll see that we give a ramp of those ESAs over time. When you get out to 2030, the total amount of the peak load we expect is between 2.05 and 2.25 gigawatts that obviously is indicative of 750 megawatts to nearly 1 gigawatt of incremental road ramp beyond 2030. While the expansion opportunities have some potential impact in the 5-year window, both the expansion opportunities in the Tier 2 have a ramp that's well into the 2030s and the resource needs will be in that time frame as well. So we know that, that visibility is going to be important. What I'd express today is, and as you've heard us describe, we believe that this momentum in our pipeline, if we're able to convert as we expect to have at least one ESA and we don't expect to stop there, that has upside potential both over the near term and well into the 2030s. But we know that you all will be looking for more specificity on that, and we'll certainly plan on giving that level of specificity as we capitalize on the momentum in our pipeline. Operator: Our next call comes from Shahriar Pourreza with Wells Fargo. Andrew Kadavy: Actually, it's Andrew Kadavy on for Shahriar. I was wondering, could you maybe characterize the customer profile for the pending 2026 ESA? Is it another hyperscaler? David Campbell: You see the mix of customers we have today. We've got 2 ESAs with Google, one with Meta, one with Digital Realty, which is a very large data center developer, one with Beale, which is an enterprise with a lot of experience in this arena. I think it's -- we won't get ahead of saying what customer signing. We've got high interest from all of our customers and expansion opportunities. I think if you consider what our Tier 1 expansions and Tier 2 profile looks like, it's probably a mix that's reasonably consistent with the mix we've had to date. So high-quality hyperscaler counterparties or data center developers who are experienced in this space. And we have visibility that they're obviously aligned with hyperscale customers on their own. That's confidential. We won't share it, but visibility in the customers they're serving. So I think you can view the profile that we've disclosed to date of the customers that we've signed up and going forward, it will be a similar kind of profile. Andrew Kadavy: And then on the political side, can you comment on kind of the data center moratorium becoming a campaign issue for the Kansas governor's race? Is the noise there affecting your commercial discussions with potential customers? David Campbell: So there's a lot there. Let me comment on elections and local sensitivity of data centers broadly because I do think that how you approach data centers is important for every local jurisdiction. But first, just comment early in the election. Data centers compared to certainly some other states were not as prominent in the primaries on the Kansas side. There are no major statewide races in Missouri this year. Only the state auditors is up for reelection on the Kansas side, there is a gubernatorial election. Current Governor is term limited and not standing for reelection on the Republican side. Ty Masterson, the Senate President, won the primary. He's an experienced legislative leader, a Senate President, who's been supportive of economic development and infrastructure investment. He's certainly going to be attentive to the Ratepayer Protection Pledge, understands the LLPS tariff and making sure that large customers pay their fair share, but it's been a constructive. He's demonstrated support for economic development and infrastructure investment. Cindy Holscher won the Democratic primary. She's a state center from Johnson County, and we've worked with her in the past. In the past in Kansas, we've been able to advance constructive measures relating to infrastructure investment with support from leaders in both parties, and we're confident that we will be continuing our focus. So it has not been nearly the prominent issue as in some of those states. But what I'd emphasize is that as you think about citing data centers, it's really similar to all major projects. You have to move forward in the right spots. It's not going to work everywhere. Some places won't be well suited for data centers. But for some others, with the right kind of land setup, with the right kind of infrastructure setup, with the appetite for the economic development, the jobs, the expansion of tax base, it can move forward. So we have some places that are well suited. So we are working with high-quality developers, hyperscale customers who know how critical it is to develop facilities in areas where the communities are receptive, and we'll be working with them to move it forward. So we're confident in that issue. It's obviously a sensitivity point that gets a lot of commentary in the market today. But I would describe it if you've been in this business, if you've been in the utility business with transmission line siting and facility siting, you always have to be sensitive to it, and we're certainly very focused on that as are the customers who are at the top of our queue. Operator: Our next call comes from Paul Patterson with Glenrock Associates. Paul Patterson: All right. So just -- most of my questions have been actually asked. But just if you could, could you go over the rate increase impacts? You guys went a little quickly, and I apologize, but you mentioned that you guys expect to go, I think, in the rate of inflation or lower. Is that a floating number? Or is that basically based on a specific idea about what inflation will be? And then secondly, with respect to -- you mentioned that there was a difference in one jurisdiction. And if you could just go over that again, I apologize, but if you could clarify that for me, I'd appreciate it. David Campbell: Sure. Thanks, Paul. It's obviously a very important topic. We've been focused on affordability. It's been at the forefront of our discussions really since the merger in 2018 that formed Evergy. And we're proud of the trajectory that put us on. So we've been focus on the topic and be able to demonstrate real benefits and regional rate competitiveness and getting our rates below Midwest and national averages over the past several years, and we've proven that to our customers. The comments that I laid out are based on our modeling of what we expect rate impacts to be and the impacts of the LLPS tariff, which is set up to make sure that the large customers pay their fair share. So what I described was we expect that rate increases for residential customers will be in line with or below inflation for the majority of our residential customers. Now where inflation is, we all track the Fed. I know that inflation currently is a little north of 3%, which is a little disappointing. The Fed is hoping has its target of 2% over time. So we certainly hope that the inflation will get more to that 2% range. But right now, inflation is trending in the 2% to 3%. We're not modeling it at some level higher than that. The jurisdiction that I spoke to was Missouri West. So Missouri West has the lowest rates in our system today, some of the lowest rates in the nation. And part of the reason for that is it has relatively less infrastructure. So our customers have benefited from that in Missouri West for many years, but we're in a position where there are a couple of factors that relate to that. One is that they're more exposed to market energy prices. So when there's volatility in a Winter Storm Fern or a Winter Storm Uri, there's more volatility in the fuel costs that get -- that can lead to some variability in Missouri West rates. The second factor is, as capacity becomes tighter, we need to make investments in Missouri West so that they're well situated to be able to meet their needs. So we do expect over the coming years that Missouri West residential rates will be over inflation, though over time, we expect those to stabilize. We certainly expect that they'll remain competitive within our system and within our region and will leave Missouri West customers, I think, in a much better place with resources that will benefit them for decades to come. On the affordability front in data centers, one thing I'd emphasize, we are in only one rate case currently. That's in Missouri Metro. In our Missouri Metro rate case, as part of our initial filing, we actually reduced the revenue requirement we would otherwise have requested by $25 million, about a 15% decrease in our requested revenue requirement because of data centers. And this is in advance of even generation investments having an impact in Missouri West. So it's a demonstrable impact of how these large customers, how the LLPS tariff can drive knock-on benefits for all of our other customers. We actually expect that $25 million amount or that 15% reduction. That amount is -- that relative reduction is going to even increase further as we get to the true-up date because that large customer continues to ramp. In other words, the beneficial impact of that data center will be even more consequential in terms of it helping our other customers. So this affordability narrative is one that we model carefully. We think about systematically, and we'll continue to do so going forward because we know -- we really think actually this opportunity with large load is unique in how it not only will drive prosperity in terms of tax base and construction and a digital economy, but helping to drive affordability benefits for all our customers. So I know it's a long answer, but obviously, a very important topic and one that we'll continue to focus on. Paul Patterson: Awesome. Just on the Metro rate case, do you think there's a potential for a settlement or anything now that testimony has been filed and I guess we got all testimony is coming up pretty soon. But I'm just wondering, is there any -- what are your thoughts about that? David Campbell: We've been able to successfully settle our last couple of Missouri rate cases as had many other utilities in the state, including Ameren. I went over the procedural schedule. So these -- the rate case in Missouri tends to follow a specific schedule, including for a settlement conference. So that we'll have a few more rounds of testimony filings and that settlement conference is scheduled in the late September time frame. So we look forward to working with staff, with other stakeholders and working towards a constructive resolution. It's a pretty straightforward rate case in the sense that it's largely infrastructure investment and then a unique feature that is actually with a positive benefit from our data center customer. Operator: Our next question comes from Anthony Crowdell from Mizuho. Anthony Crowdell: David, Bryan, just 2 quick questions. I guess, one, you gave us the -- I don't know the right term is maybe the 250 basis point maybe if I call it, financing lag between rate base and earnings growth. I guess, does that fluctuate? Or is that pretty consistent? Is it dependent upon maybe rate outcomes or capital getting into rate base? Just how, I guess, linear or stable is the 250 basis points? David Campbell: Well, that's a great question. We will obviously give an annual view of guidance over time as we get closer to each year. What we've described is we expect in our 6% to 8% plus long-term earnings growth target that we expect earnings growth greater than 8% annually starting in 2028. In other words, starting from '27 to '28, we'll see that increase afterwards. There's some impacts that come from when plants are online and the trajectory of the load profiles of our large customers. We've given a sense for when the plant schedules are and also what the annual contractual terms under our ESAs. So there's -- it's a steady progression as you see in those charts, but there's inevitably some impacts that come from because the rate case will typically follow when some of these large generation projects come online. In terms of that general rule of thumb, the 250 basis point difference between our average annual rate base growth and earnings growth, we view that as pretty steady. What's effective here is that while you have some lag from your investments to when they're reflected in earnings power as well as impacts from financing over time, you're also having load growth over time. So given that the load growth is increasing pretty steadily, we do see that as a pretty stable relationship over the trajectory. Anthony Crowdell: Great. And then just lastly, you're one of the few utilities that I think most of the coverage I have, there's kind of like utilities have jurisdictions of kind of like a have and have-nots where there's an aggregation of some of the large load to maybe one of their service territories, but the other one maybe is not as desirable. You guys seem to be doing very well with the large load tariffs in both Missouri and Kansas. And I'm just curious when you talk to your customers, what are some of the positive attributes that make them choose Kansas or make them choose Missouri? Just why is load maybe leaning more towards one state or the other? David Campbell: Well, I think you captured it accurately that both states are viewed as very attractive by our large customers. So individual customers will come down to where do they have the land prospects, where do they -- where have they found the most specific opportunity. But the general setup in both states is viewed as constructive and positive. And the tariffs are pretty similar between the 2. So it was first approved on the Kansas side, but then it was subsequently approved on the Missouri side, they're pretty similar provisions. So that LLPS tariff that sets a premium rate to make sure they pay their fair share, pretty consistent terms. So the ability to have that predictability, the attractiveness of our region if you've ever been to Kansas City, the state line just goes to the middle of our -- of the city in many ways. So the attributes that make our region attractive are similar between the 2 states. There's some differences, of course. But the fundamentals are such that our customers like both states. That's reflected in the 5 that we've signed. Initially, was a little ahead, but Kansas got the LLPS tariff approved. And right now, what I describe is it comes down to where you're finding local communities that meet those criteria that I described earlier, where it makes sense for that local community, and we see those in both states and certainly our customers do as well. Anthony Crowdell: And I guess for you guys, it really wherever the Chiefs move, it's going to be in your service territory, right? David Campbell: Yes. Our service territory is, I think it's fair to say, overlaps heavily with Chiefs Nation. We've got some munis and co-ops across our territory, so that can have some impact. But yes, we -- whether either side of the state line, you're going to see some rapidly partisan in our service territory, yes, we're pretty consistent. Operator: This concludes the question-and-answer session. I'd like to now turn it back to the President and CEO, Mr. David Campbell. David Campbell: Efficient today. Thank you very much, everyone, for your interest in Evergy. With that, we will conclude today's call. Thank you. Operator: Thank you for your participation in today's conference. This does conclude the program. You may now disconnect. Before you buy stock in Evergy, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Evergy wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $403,337!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,334,946!* Now, it’s worth noting Stock Advisor’s total average return is 958% — a market-crushing outperformance compared to 214% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of August 13, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Evergy (EVRG) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

Make better investment decisions with Simply Wall St's easy, visual tools that give you a competitive edge. Evergy (EVRG) gave investors fresh information on both income and shareholder returns on 6 August 2026, with second quarter earnings and a reaffirmed quarterly dividend of $0.6950 per share. See our latest analysis for Evergy. At a share price of $83.38, Evergy has seen a 14.09% year to date share price return. The 1 year total shareholder return of 19.26% and 3 year total shareholder return of 62.09% point to momentum that investors are watching closely. If Evergy’s mix of earnings and dividends has your attention, this is also a useful moment to scan the wider power grid opportunity set through the Simply Wall St screener for 36 power grid technology and infrastructure stocks Evergy shares now sit about 10% below the average analyst price target and at a discount to some fair value estimates, despite the recent run. Is that caution around the stock still warranted once you look at the valuation? Evergy's most followed narrative puts fair value at $90.46, which sits above the current $83.38 share price and frames the stock as modestly discounted. Read the complete narrative. Read the complete narrative. Want to see what sits behind that fair value for Evergy? The narrative focuses on steady revenue expansion, rising margins and a future earnings multiple that assumes consistent execution rather than aggressive growth. Result: Fair Value of $90.46 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, Evergy’s story can change quickly if large customer projects ramp more slowly than expected or if equity funding needs tighten earnings and dilute shareholders. Find out about the key risks to this Evergy narrative. The most followed narrative suggests Evergy is about 7.8% below fair value at $90.46. A separate view comes from Simply Wall St’s DCF work, which puts future cash flow value at $60.76. That level implies the stock screens as overvalued on this model. Which story do you think carries more weight? Look into how the SWS DCF model arrives at its fair value. Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Evergy for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 49 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity. Mixed messages on Evergy so far. If you want to move quickly and build your own view, start with the company's balance of 4 key rewards and 3 important warning signs. If Evergy has sharpened your focus, do not stop here. Use this moment to line up a few more opportunities that could strengthen your overall portfolio. Target dependable income by checking companies that qualify as 8 dividend fortresses so you are not leaving potential cash returns on the table. Hunt for quality at a discount through the screener containing 19 high quality undiscovered gems and see which stocks the market may be overlooking right now. Prioritise resilience by reviewing the 78 resilient stocks with low risk scores and keep a shortlist of stocks that may help balance out bolder ideas. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include EVRG. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Interested in Evergy Inc.? Here are five stocks we like better. Q2 earnings rose: Evergy reported adjusted earnings of $209 million, or $0.88 per share, up from $0.82 a year earlier. The company reaffirmed its 2026 adjusted EPS guidance of $4.14–$4.34 and long-term annual EPS growth target of 6%–8% or more through 2030. Data centers and industrial customers are driving demand: Evergy has signed energy service agreements covering five data-center projects totaling about 2.5 gigawatts, with total large-customer load reaching roughly 3 gigawatts. The signed projects are expected to support 7%–8% annual retail load growth through 2030. Growth requires higher investment: Evergy expects about $1 billion of incremental capital spending for generation resources tied to secured customer agreements, raising projected rate-base growth through 2030 to approximately 12%. Planned additions include more than 5 gigawatts of generation and storage, while the company continues to manage regulatory proceedings and customer-affordability concerns. Unassuming Evergy Energy: The AI Boost Your Income Portfolio Needs Evergy (NASDAQ:EVRG) reported second-quarter 2026 adjusted earnings of $209 million, or $0.88 per share, up from $191 million, or $0.82 per share, a year earlier, as regulated investment recovery, load growth and revenue from large customers more than offset higher operating costs. Chairman and Chief Executive Officer David Campbell said the company remains on track to achieve the midpoint of its full-year adjusted earnings guidance range of $4.14 to $4.34 per share. Evergy reaffirmed its long-term adjusted EPS growth target of 6% to 8% or more through 2030 from the 2026 midpoint of $4.24, with annual growth expected to exceed 8% beginning in 2028. → 3 Drone Stocks That Should Soar After the Summer Slump Top 5 Highest-Rated Dividend Stocks, According to MarketBeat Chief Financial Officer Bryan Buckler said Evergy is also providing third-quarter adjusted EPS guidance equivalent to 50% to 53% of the $4.24 full-year midpoint. Evergy said it has executed energy service agreements, or ESAs, for five data-center projects under its large-load power service tariffs. Those projects represent about 2.5 gigawatts of steady-state peak load. Including 500 megawatts from non-LLPS large customers, including Panasonic and smaller data centers, the company’s large-customer load totals about 3 gigawatts. → Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth Shield Your Portfolio From Aug. 1 Tariffs With This Low-Vol ETF Campbell said Evergy expects to sign at least one additional ESA in 2026 and plans to provide further detail on its third-quarter call in November. The company said its five-year financial plan does not include the effects of prospective expansion projects. The existing signed agreements include 1.3 gigawatts of projects that are operating or progressing toward steady-state operations, along with 1.7 gigawatts under ESAs with minimum monthly billing provisions generally spanning 16 to 17 years. Evergy expects the signed projects to support retail load growth of approximately 7% to 8% annually through 2030. → Jersey Mike's Serves Fresh Gains After IPO Stumble Evergy also identified approximately 2 gigawatts to 2.5 gigawatts of potential expansion opportunities at or adjacent to existing customer locations, up from a prior estimate of 1 gigawatt to 1.5 gigawatts. In addition, it said it is in advanced discussions with new Tier 2 customers representing roughly 1 gigawatt to 2 gigawatts, with the opportunity primarily extending beyond 2030. The remaining pipeline exceeds 10 additional gigawatts, according to the company. During the question-and-answer session, Campbell said prospective customers generally seek firm power from Evergy’s system resources, though the company can accommodate customers that arrange power purchase agreements or bring their own generation. He characterized the expected customer profile as similar to existing agreements with hyperscalers and experienced data-center developers. Buckler said weather-normalized demand increased 1.8% in the second quarter, led by commercial and industrial demand. Commercial demand rose 4%, reflecting the initial ramp-up of data-center usage, while industrial demand increased 6.2%, helped by Panasonic’s continued operating ramp. On a year-to-date basis, weather-normalized demand grew 3.3%. Evergy attributed the increase largely to commercial and industrial consumption, as well as favorable regional economic conditions, including unemployment rates below the national average in Missouri, Kansas and the Kansas City metropolitan area. Second-quarter earnings benefited by $0.10 per share from load growth, including an approximately $0.04 per-share benefit from a large data center that began operations in March and Panasonic’s ramp. Recovery of and return on regulated investments, including new retail rates in Kansas Central and Federal Energy Regulatory Commission-regulated investment, contributed another $0.10 per share. Higher operations and maintenance expense, depreciation and interest expense net of allowance for funds used during construction reduced EPS by $0.08. Other items reduced EPS by $0.06, including $0.02 of dilution from convertible bonds. Evergy’s February capital plan called for $21.6 billion of investment over five years. The company now expects about $1 billion of incremental capital associated with generation resources required to serve customer agreements already secured. Its 2026 integrated resource plan includes more than 5 gigawatts of additions through 2032, including approximately 3.9 gigawatts of natural gas generation, nearly 800 megawatts of solar and 450 megawatts of battery storage. The company said the additional investment would lift its projected rate-base compound annual growth rate through 2030 to about 12%, from a prior 11.5% estimate. Buckler said Evergy expects EPS growth to trail rate-base growth by roughly 250 basis points, a relationship management described as generally stable over the planning period. In Kansas, Evergy has filed notice for a planned predetermination application involving a natural-gas plant, solar facility and battery-storage project. In Missouri, the company filed notice for a certificate of convenience and necessity request for similar assets. Evergy also has a pending Missouri Metro rate case. Rebuttal testimony is due Aug. 11, surrebuttal and true-up direct testimony are due Sept. 10, settlement conferences are scheduled to begin Sept. 23, and hearings are set to begin Oct. 5. Separately, the company has a pending CCN request for the 440-megawatt Mullin Creek No. 2 simple-cycle gas turbine in Nodaway County, Missouri. A staff report is due Sept. 15, followed by a settlement conference Sept. 22 and hearings beginning Oct. 19. Campbell said Evergy expects rate increases for the significant majority of residential customers to be in line with or below inflation over the next several years. He said Missouri West customers may see increases above inflation during the next five years as the utility adds infrastructure and dispatchable generation, though management expects those rates to remain regionally competitive. In the Missouri Metro rate case, Campbell said Evergy reduced its initial requested revenue requirement by $25 million, or about 15%, because of data-center-related revenue. He said the relative reduction could increase as large customers continue to ramp. Evergy said it had priced approximately $425 million through forward sales agreements under its at-the-market equity program as of June 30. That represents more than half of its expected $700 million to $900 million of 2026 equity issuance. Buckler said the remaining needs are addressable through the ATM program and that the company currently does not plan a block equity issuance. Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory. The company's business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Evergy Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Evergy, Inc. EVRG reported second-quarter 2026 adjusted earnings of 88 cents per share, which beat the Zacks Consensus Estimate of 82 cents by 7.3%. Earnings increased 7.3% from 82 cents in the year-ago quarter. Quarterly revenues totaled $1.50 billion, which surpassed the Zacks Consensus Estimate of $1.48 billion by 1.7%. The top line also increased 4.4% from the year-ago figure of $1.44 billion. Evergy Inc. price-consensus-eps-surprise-chart | Evergy Inc. Quote Total operating expenses jumped 2.4% year over year to $1.12 billion. Fuel and purchased-power costs declined slightly to $328.5 million from $330.4 million.Operating and maintenance expenses rose 2.3% to $260.9 million. Depreciation and amortization increased 5.5% to $304.3 million.Interest expenses totaled $165.9 million, up 7.9% year over year. Evergy Kansas Central’s operating revenues improved 4.9% to $769.5 million from $733.5 million in the year-ago quarter. Net income attributable to the business rose to $138.1 million from $120.4 million.Operating income increased 13.7% to $206.1 million from $181.2 million. Fuel and purchased-power costs declined to $102 million from $117.5 million. These savings were partly offset by higher operating and maintenance expenses, transmission costs and depreciation. Evergy Metro generated operating revenues of $488.7 million, up 3.7% from $471.2 million in the prior-year quarter. Net income increased to $78.7 million from $68.8 million.Operating income rose 11.8% to $126.5 million from $113.1 million. Fuel and purchased-power expenses increased modestly to $146.1 million, while operating and maintenance expenses dropped to $75.4 million from $78.6 million. Cash and cash equivalents as of June 30, 2026 totaled $21.8 million compared with $19.8 million as of Dec. 31, 2025.Long-term debt as of June 30, 2026 was $12.32 billion compared with $13.04 billion as of Dec. 31, 2025.Cash provided by operating activities in the first six months of 2026 was $711.1 million compared with $773.5 million in the year-ago period. Evergy reaffirmed its 2026 adjusted EPS guidance in the range of $4.14-$4.34. The Zacks Consensus Estimate is pegged at $4.25, which is just higher than the midpoint of the company’s guided range.The company expects its adjusted EPS annual growth target of 6-8% through 2030. Evergy currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. IDACORP, Inc. IDA reported second-quarter 2026 earnings of $1.79 per share, which topped the Zacks Consensus Estimate of $1.75 by 2.3%. The company’s earnings also improved 1.7% from $1.76 in the year-ago quarter.Total revenues in the second quarter of 2026 were $469.8 million, lagging the Zacks Consensus Estimate of $478 million by 1.8%. However, the metric rose 4.2% from $450.9 million in the year-ago quarter.PG&E Corporation PCG reported second-quarter 2026 adjusted earnings per share of 40 cents, which beat the Zacks Consensus Estimate of 37 cents by 8.1%. The bottom line also increased 29% from the year-ago quarter’s figure of 31 cents.PCG reported second-quarter total revenues of $5.902 billion, up 0.1% from $5.898 billion registered in the year-ago period. However, the top line missed the Zacks Consensus Estimate of $6.31 billion by 6.4%.Edison International EIX reported second-quarter 2026 core earnings of $1.54 per share, beating the Zacks Consensus Estimate of $1.02 by 51%. The bottom line surged 58.8% from 97 cents in the year-ago quarter.Edison International's second-quarter operating revenues totaled $4.36 billion, which missed the Zacks Consensus Estimate of $4.72 billion by 7.7%. The top line also decreased 4.1% from the year-ago quarter’s figure of $4.54 billion. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Evergy Inc. (EVRG) : Free Stock Analysis Report Edison International (EIX) : Free Stock Analysis Report Pacific Gas & Electric Co. (PCG) : Free Stock Analysis Report IDACORP, Inc. (IDA) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Performance was primarily driven by the recovery of regulated investments and significant load growth from large customers, including the start of operations for a major data center and Panasonic's ramp-up. The company's Large Load Project Service (LLPS) tariff is central to the strategy, ensuring new large customers pay a premium rate to cover infrastructure costs while protecting affordability for existing residential customers. Management attributes the region's competitive advantage to a deep concentration of engineering talent and EPC firms, positioning Kansas and Missouri as premier destinations for data center investment. Operational reliability remains a priority following a severe Q2 storm season, with grid modernization investments contributing to favorable duration and frequency metrics despite extreme weather events. The 'all-of-the-above' generation strategy focuses on balancing natural gas, solar, and battery storage to meet the 3 gigawatts of secured large customer demand while maintaining system reliability. Management emphasized that while capital investment is at historical highs, it is supported by unprecedented load growth that allows system costs to be spread across a broader base. Reaffirmed long-term adjusted EPS growth target of 6% to 8% through 2030, with expectations to exceed 8% annually beginning in 2028 as large load ramps accelerate. Projected retail load growth CAGR of 7% to 8% through 2030 is anchored by executed Energy Service Agreements (ESAs) with 16 to 17-year minimum monthly bill provisions. The 5-year capital plan of $21.6 billion is expected to increase by approximately $1 billion to support generation needs for secured customer agreements, raising the rate base CAGR to 12%. Management expressed high confidence in executing at least one additional ESA in 2026, which would represent further upside to the current 5-year financial plan. Residential rate increases are projected to remain in line with or below inflation for the majority of customers, though Missouri West may see above-inflation increases due to necessary infrastructure catch-up. Missouri West is identified as a specific area of focus where rates may rise faster than inflation to reduce reliance on volatile market-provided energy and build out dispatchable baseload generation. The company has priced approximately $425 million in equity through forward sales agreements as of June 30, representing more than half of the $700 million to $900 million expected for the year. Management explicitly stated there are currently no plans for a block equity issuance, with remaining needs to be addressed via the ATM program. The Missouri Metro rate case includes a $25 million reduction in the requested revenue requirement specifically enabled by the beneficial impact of data center load. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management noted that most large customers are seeking firm power from Evergy resources rather than market PPAs, which will drive incremental generation investment and CapEx upside. While one additional ESA is expected in 2026, the momentum in the pipeline is expected to extend load growth and resource needs well into the 2030s. Management indicated that data centers have not been a prominent campaign issue in the Kansas primaries and expressed confidence in working with leaders from both parties. The strategy involves siting projects in specific local jurisdictions that are receptive to the economic benefits, such as tax base expansion and job creation. The relationship is viewed as stable over the long term because steady load growth helps offset the financing costs and regulatory lag associated with large-scale infrastructure investments. Earnings power is expected to step up in 2028 as major generation projects come online and large customer load ramps reach higher utilization levels.

Second Quarter 2026 GAAP EPS of $0.91, compared to $0.74 in 2025 Second Quarter 2026 Adjusted EPS (non-GAAP) of $0.88, compared to $0.82 in 2025 Declares quarterly dividend of $0.6950 per share Reaffirms 2026 Adjusted (non-GAAP) EPS guidance of $4.14 to $4.34 KANSAS CITY, Mo., August 06, 2026--(BUSINESS WIRE)--Evergy, Inc. (NASDAQ: EVRG) today announced second quarter 2026 GAAP earnings of $215.0 million, or $0.91 per share, compared to GAAP earnings of $171.3 million, or $0.74 per share, for the second quarter 2025. Evergy’s second quarter 2026 adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) were $208.5 million and $0.88 per share, respectively, compared to $191.1 million and $0.82, respectively, in second quarter 2025. Adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) are reconciled to GAAP earnings in the financial table included in this release. Relative to the same period in 2025, second quarter 2026 adjusted earnings (non-GAAP) per share benefited from recovery of regulated investments, growth in weather-normalized demand and higher large customer revenues. These favorable results were partially offset by higher operations and maintenance expense and higher depreciation and amortization expense. "We remain on track to meet our expectations for the year after delivering solid second quarter financial performance," said David Campbell, Evergy chairman and chief executive officer. "Large customer interest in Kansas and Missouri remains very strong. We are confident in our ability to advance our pipeline and we expect to execute at least one more electric service agreement in 2026." "We are reaffirming our 2026 adjusted EPS guidance of $4.14 to $4.34," added Campbell. "We are also reaffirming our long-term adjusted EPS annual growth target of 6% to 8%+ through 2030 off the 2026 midpoint, with the expectation that annual EPS growth will exceed 8% beginning in 2028 and through 2030." Earnings Guidance The Company reaffirmed its 2026 adjusted EPS (non-GAAP) guidance range of $4.14 to $4.34. Additionally, the Company reaffirmed its long-term adjusted EPS (non-GAAP) annual growth target of 6% to 8%+ through 2030 based on the 2026 adjusted EPS (non-GAAP) guidance midpoint of $4.24. The Company expects annual adjusted EPS growth to exceed 8% beginning in 2028 and through 2030. Adjusted EPS (non-GAAP) could differ from GAAP EPS for items such as impairments, divestitures, mark-to-market impacts, the impact of regulatory orders, or changes in accounting principles. Evergy management is not able to forecast if any of these items will occur or any amounts that may be reported for future periods. Therefore, Evergy is not able to provide a corresponding GAAP equivalent for 2026 or future years’ adjusted EPS (non-GAAP) guidance. Dividend Declaration The Board of Directors declared a dividend on the Company’s common stock of $0.6950 per share payable on September 18, 2026. The dividends are payable to shareholders of record as of August 18, 2026. Earnings Conference Call Evergy management will host a conference call Thursday, August 6, 2026, with the investment community at 9:00 a.m. ET (8:00 a.m. CT). To view the webcast and presentation slides, please go to investors.evergy.com. To access via phone, investors and analysts will need to register using this link where they will be provided a phone number and access code. This earnings announcement, a package of detailed second quarter financial information, the Company's quarterly report on Form 10-Q for the period ended June 30, 2026, and other filings the Company has made with the Securities and Exchange Commission are available on the Company's website at http://investors.evergy.com. Adjusted Earnings (non-GAAP) and Adjusted Earnings Per Share (non-GAAP) Management believes that adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) are representative measures of Evergy's recurring earnings, assist in the comparability of results and are consistent with how management reviews performance. Evergy's adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) for the three months ended and year to date June 30, 2026, were $208.5 million or $0.88 per share and $370.3 million or $1.57 per share, respectively. For the three months ended and year to date June 30, 2025, Evergy's adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) were $191.1 million or $0.82 per share and $318.9 million or $1.37 per share, respectively. In addition to net income attributable to Evergy, Inc. and diluted EPS, Evergy's management uses adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) to evaluate earnings and EPS without: losses from the repurchase of a portion of Evergy's Convertible Notes; and investment gains and losses from non-regulated investments in early-stage clean energy and energy solution companies and costs related to the disposal of these investments. Adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) are intended to aid an investor's overall understanding of results. Management believes that adjusted earnings (non-GAAP) provides a meaningful basis for evaluating Evergy's operations across periods because it excludes certain items that management does not believe are indicative of Evergy's ongoing performance or that can create period to period earnings volatility. Adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) are used internally to measure performance against budget and in reports for management and the Evergy Board. Adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) are financial measures that are not calculated in accordance with GAAP and may not be comparable to other companies' presentations or more useful than the GAAP information provided elsewhere in this report. The following tables provide a reconciliation between net income attributable to Evergy, Inc. and diluted EPS as determined in accordance with GAAP and adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP), respectively. About Evergy Evergy, Inc. (NASDAQ: EVRG), serves 1.7 million customers in Kansas and Missouri. Evergy’s mission is to empower a better future. We are leading the way in delivering affordable, reliable and sustainable energy that creates the foundation for thriving and growing communities. Our focus is on delivering reliable power while keeping bills as low as possible. We value innovation and adaptability to give our customers better ways to manage their energy use, to create a safe and rewarding workplace for our employees and to add value for our investors. Headquartered in Kansas City, our employees live, work and volunteer in the communities we serve. For more information about Evergy, visit us at http://investors.evergy.com. 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 relating to Evergy's strategic plan, including, without limitation, those related to earnings per share, dividend, operating and maintenance expense and capital investment goals; the outcome of legislative efforts and regulatory and legal proceedings; future energy demand, including demand driven by new and existing customers; future power prices; plans with respect to existing and potential future generation resources; the availability and cost of generation resources and energy storage; target emissions reductions; and other matters relating to expected financial performance or affecting future operations. Forward-looking statements are often accompanied by forward-looking words such as "anticipates," "believes," "expects," "estimates," "forecasts," "guidance," "should," "could," "may," "seeks," "intends," "predict," "potential," "opportunities," "proposed," "projects," "planned," "target," "budget," "outlook," "remain confident," "goal," "will" or other words of similar meaning. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from the forward-looking information. In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Evergy Companies are providing a number of risks, uncertainties and other factors that could cause actual results to differ from the forward-looking information. These risks, uncertainties and other factors include, but are not limited to: economic and weather conditions and any impact on sales, prices and costs; significant changes in the demand for electricity, including, demand from data centers and other large load customers, and customer adoption of alternative energy sources, such as distributed generation; changes in business strategy or operations, including with respect to the Evergy Companies' strategy to meet demand requirements of existing and future customers; uncertainties related to projected rapid growth in electricity demand driven primarily by data centers and other large load customers and the related requirement for new generation and transmission investments, creating capital access, revenue recovery and customer affordability risks; the impact of federal, state and local political, legislative, judicial and regulatory actions or developments, including deregulation, re-regulation, securitization and restructuring of the electric utility industry; prolonged or recurring U.S. federal government shutdowns; changes in U.S. trade policies (including tariffs and other trade measures) and responses from other countries; the ability to build or acquire generation, battery storage and transmission facilities to meet the future demand for electricity from customers; the ability to control costs, avoid cost and schedule overruns during the development, construction and operation of generation, battery storage, transmission, distribution or other projects due to challenges, which include, but are not limited to, changes in labor costs, availability and productivity, challenges with the management of contractors or vendors, subcontractor performance, shortages, delays, increased costs or inconsistent quality of equipment, materials and labor and increased financing costs as a result of changes in interest rates or as a result of project delays; decisions of regulators regarding, among other things, customer rates and the prudency of operational decisions such as capital expenditures and asset retirements; changes in applicable laws, regulations, rules, principles or practices, or the interpretations thereof, governing tax, accounting and environmental matters, including air and water quality and waste management and disposal; development, adoption and use of artificial intelligence by the Evergy Companies and its third-party vendors; the impact of climate change, including increased frequency and severity of significant weather events; risks relating to potential wildfires, including costs of litigation, potential regulatory penalties and damages in excess of insurance liability coverage; the sufficiency of the Evergy Companies' insurance coverage, including availability, cost, coverage and terms and ability to recover claims; the extent to which counterparties are willing to do business with, finance the operations of or purchase energy from the Evergy Companies due to the fact that the Evergy Companies operate coal-fired generation; prices and availability of electricity and natural gas in wholesale markets; market perception of the energy industry and the Evergy Companies; the impact of future pandemic health events on, among other things, sales, results of operations, financial position, liquidity and cash flows, and also on operational issues, such as supply chain issues and the availability and ability of the Evergy Companies' employees and suppliers to perform the functions that are necessary to operate the Evergy Companies; changes in the energy trading markets in which the Evergy Companies participate, including retroactive repricing of transactions by regional transmission organizations (RTO) and independent system operators; financial market conditions and performance, disruptions in the banking industry, including volatility in interest rates and credit spreads and in availability and cost of capital and the effects on derivatives and hedges and ability to obtain capital to finance large construction projects, nuclear decommissioning trust and pension plan assets and costs; impairments of long-lived assets or goodwill; credit ratings; inflation rates; effectiveness of risk management policies and procedures and the ability of counterparties to satisfy their contractual commitments including new large data center customers; impact of physical and cybersecurity breaches, criminal activity, terrorist attacks, acts of war and other disruptions to the Evergy Companies' facilities or information technology infrastructure or the facilities and infrastructure of third-party service providers on which the Evergy Companies rely; impact of geopolitical conflicts on the global energy market, including the ability to contract for non-Russian sourced uranium; ability to carry out marketing and sales plans; cost, availability, quality and timely provision of equipment, supplies, labor and fuel; ability to achieve generation goals and the occurrence and duration of planned and unplanned generation outages; the Evergy Companies' ability to manage their generation, transmission and distribution development plans and transmission joint ventures; the inherent risks associated with the ownership and operation of a nuclear facility, including environmental, health, safety, regulatory and financial risks; workforce risks, including those related to the Evergy Companies' ability to attract and retain qualified personnel, maintain satisfactory relationships with their labor unions and manage costs of, or changes in, wages, retirement, health care and other benefits; disruption, costs and uncertainties caused by or related to the actions of individuals or entities, such as activist shareholders or special interest groups, that seek to influence Evergy's strategic plan, financial results or operations; the impact of changing expectations and demands of the Evergy Companies' customers, regulators, investors and stakeholders, including differing views on environmental, social and governance concerns; the possibility that strategic initiatives, including mergers, acquisitions, joint ventures and divestitures, and long-term financial plans, may not create the value that they are expected to achieve in a timely manner or at all; difficulties in maintaining relationships with customers, employees, contractors, regulators or suppliers; the outcome of litigation involving the Evergy Companies; and other risks and uncertainties. This list of factors is not all-inclusive because it is not possible to predict all factors. You should also carefully consider the information contained in the Evergy Companies' other filings with the Securities and Exchange Commission (SEC). Additional risks and uncertainties are discussed from time to time in current, quarterly and annual reports filed by the Evergy Companies with the SEC. New factors emerge from time to time, and it's not possible for the Evergy Companies to predict all such factors, nor can the Evergy Companies assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained or implied in any forward-looking statement. Given these uncertainties, undue reliance should not be placed on these forward-looking statements. The Evergy Companies undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260806360510/en/ Contacts Investor Contact: Pete FlynnSr. Director, Investor Relations & InsurancePhone: [email protected] Media Contact: Gina PenzigDirector, Corporate CommunicationsPhone: [email protected] Media line: 888-613-0003

Evergy Inc (EVRG) came out with quarterly earnings of $0.88 per share, beating the Zacks Consensus Estimate of $0.82 per share. This compares to earnings of $0.82 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +7.32%. A quarter ago, it was expected that this electric utility would post earnings of $0.63 per share when it actually produced earnings of $0.69, delivering a surprise of +9.52%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Evergy, which belongs to the Zacks Utility - Electric Power industry, posted revenues of $1.5 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.71%. This compares to year-ago revenues of $1.44 billion. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Evergy shares have added about 14.6% since the beginning of the year versus the S&P 500's gain of 12.8%. While Evergy has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Evergy was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.17 on $1.9 billion in revenues for the coming quarter and $4.25 on $6.28 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Utility - Electric Power is currently in the bottom 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, PPL (PPL), is yet to report results for the quarter ended June 2026. The results are expected to be released on August 7. This energy and utility holding company is expected to post quarterly earnings of $0.35 per share in its upcoming report, which represents a year-over-year change of +9.4%. The consensus EPS estimate for the quarter has been revised 0.5% lower over the last 30 days to the current level. PPL's revenues are expected to be $2.18 billion, up 7.5% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Evergy Inc. (EVRG) : Free Stock Analysis Report PPL Corporation (PPL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Evergy, Inc. EVRG is scheduled to release second-quarter 2026 results on Aug. 6, before market open. The company delivered an earnings surprise of 9.52% in the last reported quarter.Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results. Evergy is expected to have benefited from continued economic development across its service territories, resulting in stronger electricity demand. The company's earnings are likely to have been supported by increasing demand from data centers.EVRG's quarterly performance may have benefited from ongoing investments in infrastructure and efforts to enhance service reliability. EVRG’s second-quarter earnings are also expected to have been boosted by energy efficiency initiatives and ongoing cost optimization measures.Evergy is also likely to have gained from its focus on maintaining affordable rates while delivering high-quality services, which is expected to have supported customer additions and load growth.The anticipated rise in demand from residential, commercial and industrial customers is likely to have supported second-quarter earnings. However, higher operations and maintenance expenses may have weighed on the company’s bottom line. The Zacks Consensus Estimate for earnings is pegged at 82 cents per share, in line with the earnings reported in the year-ago quarter.The Zacks Consensus Estimate for revenues is pinned at $1.47 billion, indicating an increase of 2.6% from the year-ago reported figure. Our proven model does not conclusively predict an earnings beat for Evergy this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here as you will see below. Evergy Inc. price-eps-surprise | Evergy Inc. Quote Earnings ESP: The company’s Earnings ESP is -6.75%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Zacks Rank: Currently, Evergy carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here. Investors may consider the following players from the same industry, as these have the right combination of elements to post an earnings beat this reporting cycle.Pinnacle West Capital Corporation PNW is slated to report its second-quarter 2026 results on Aug. 4, before market open. It has an Earnings ESP of +0.95% and a Zacks Rank of 2 at present.PNW’s long-term (three to five years) earnings growth rate is 5.81%. The Zacks Consensus Estimate for earnings is pinned at $1.49 per share, which suggests a year-over-year decline of 5.7%.Duke Energy Corporation DUK is scheduled to report its second-quarter 2026 results on Aug. 4, before market open. It has an Earnings ESP of +0.16% and a Zacks Rank of 3 at present.DUK’s long-term earnings growth rate is 6.76%. The Zacks Consensus Estimate for earnings is pinned at $1.29 per share, which implies a year-over-year increase of 3.2%.Versigent PLC VGNT is set to report its second-quarter 2026 results on Aug. 4, before market open. It has an Earnings ESP of +8.82% and a Zacks Rank of 2 at present.The Zacks Consensus Estimate for VGNT’s revenues stands at $2.29 billion. The Zacks Consensus Estimate for earnings is pegged at $1.58 per share. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Evergy Inc. (EVRG) : Free Stock Analysis Report Duke Energy Corporation (DUK) : Free Stock Analysis Report Pinnacle West Capital Corporation (PNW) : Free Stock Analysis Report Versigent PLC (VGNT) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research