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Evergy, Inc. EVRG reported fourth-quarter 2024 operating earnings per share (EPS) of 35 cents, which lagged the Zacks Consensus Estimate of 36 cents by 2.8%. However, the bottom line increased 29.6% from the year-ago quarter’s figure of 27 cents.
Full-year adjusted earnings were $3.81 per share compared with $3.54 last year.
Full-year 2024 adjusted EPS benefited from new retail rates, FERC-regulated investments and growth in weather-normalized demand. These favorable results were partially offset by mild weather, higher depreciation and amortization expenses, as well as higher operations, maintenance and interest expenses.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Total Revenues of EVRG
Quarterly revenues totaled $1.26 billion, which surpassed the Zacks Consensus Estimate of $1.194 billion by 5.3%. In the year-ago quarter, the company posted revenues of $1.188 billion.
Full-year 2024 revenues totaled $5.85 billion compared with $5.51 billion last year.
Evergy Inc. Price, Consensus and EPS Surprise
Evergy Inc. price-consensus-eps-surprise-chart | Evergy Inc. Quote
Highlights of EVRG’s Earnings Release
Fuel and purchased power totaled $1.48 billion for the year, down 0.6% from last year’s figure of $1.49 billion.
Operating and maintenance expenses for the year amounted to $961.9 million, up 1.8% from last year’s figure of $945.3 million.
Interest expenses totaled $563.1 million, up 7% year over year.
EVRG’s Financial Update
Cash and cash equivalents as of Dec. 31, 2024, totaled $22 million compared with $27.7 million as of Dec. 31, 2023.
Long-term debt as of Dec. 31, 2024, was $11.81 billion compared with $11.05 billion as of Dec. 31, 2023.
Cash provided by operating activities in 2024 was $1.983 billion compared with $1.980 billion last year.
EVRG’s Guidance
The company reaffirmed its 2025 GAAP EPS and adjusted EPS guidance of $3.92-$4.12. The Zacks Consensus Estimate for the same is pegged at $4.02, which is the midpoint of the company’s guided range.
The company reaffirmed its EPS annual growth target of 4-6% through 2029.
EVRG’s Zacks Rank
EVRG carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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