EVRG · Evergy, Inc.

Evergy's first quarter 2026 results showed GAAP net income of $151.5 million and EPS of $0.64, up from $125.0 million and $0.54 in Q1 2025, with adjusted figures at $161.8 million and $0.69 reflecting exclusions for convertible note repurchase losses of $10.3 million pre-tax and minor investment losses. Positive drivers included recovery of regulated investments, weather-normalized demand growth, and higher large customer revenues, partially offset by mild winter weather, elevated operations and maintenance expenses, and increased depreciation and amortization. CEO David Campbell highlighted progress on the large customer strategy, noting the fifth electric service agreement in the Kansas Central territory under the large load power service tariff starting 2027, which ensures new customers cover system costs to benefit existing ratepayers and spur growth. The company reaffirmed its 2026 adjusted EPS guidance midpoint of $4.24, underpinning a 6% to 8%+ annual growth target through 2030, with expectations of over 8% growth from 2028 onward. A quarterly dividend of $0.6950 per share was declared, payable June 18 to May 22 record holders, signaling steady capital return amid solid operational performance. Management emphasized recurring earnings focus via adjusted metrics, excluding non-core items like early-stage clean energy investment disposals.