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EvergyEVRG

Legal name
Evergy, Inc.
Sector
Energy
Industry
Electric & Other Services Combined
Exchange
Nasdaq

Stock Price $EVRG

Latest filings

You are here#30 of 30 in Utilities by market cap

Filing record · 2017–202610-K810-Q258-K104

EVRG filed 8 annual reports (10-K), 25 quarterly reports (10-Q) and 104 current reports (8-K) between 2017 and 2026.

  1. Material agreement8-K · Mar ’20Mar ’20
  2. Material agreement8-K · Feb ’22Feb ’22
  3. Leadership change8-K · Sep ’25Sep ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  10. $5.96B
YoY changeLargest recent move+66.3%in FY18Latest +2.0%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All EVRG Financial Metrics51 metrics

Income Statement11

Balance Sheet21

Cash Flow14

Per Share5

02—Overview

Evergy Financial Overview 2021–2025

Updated Nov 4, 2026

Evergy's capital plan has nearly doubled in four years, from $10.7 billiona through 2026 in the FY2021 outlook to $21.6 billion for 2026 through 2030. That matters because this regulated utility is no longer a steady dividend story. It is a build-out story, and the data-center load behind it is now contracted.

The core thesis: earnings have been flat while the asset base balloons, and the payoff depends on rate recovery and large-load demand. GAAP EPS went from $3.83 in FY2021 to $3.66b in FY2025, with a trough of $3.17 in FY2023. Over the same span, revenue rose from $5,586.7 million to $5,961.6 million, a gain of about 7%. Interest expense hit $525.8 million in FY2023, up from $404.0 million a year earlier. Capital expenditures reached $2,796.9 million in FY2025, versus $1,972.5 million in FY2021. Funding that plan means roughly $12.3 billion of debt and $3.3 billion of equity over 2026 to 2030.

The growth case is concrete. Service agreements for data centers reached about 2,600 MW of projected peak load by Q2 2026, backed by $8.9 billionc of remaining contractual minimum obligations. Adjusted EPS guidance for 2026 is $4.14 to $4.34, and the long-term growth target rose to 6% to 8%+ through 2030. The market priced Evergy at 19.8x earnings, a $72.49 close, at the end of FY2025. Investors were paying a utility multiple for earnings that had not yet moved.

Recent Developments (Q1 and Q2 2026)

Earnings stepped up in both quarters. Q2 2026 GAAP EPS reached $0.91d versus $0.74 a year earlier, and Q1 2026 adjusted EPS was $0.69 versus $0.55. Year-to-date adjusted EPS of $1.57 compares with $1.37. Management cited the October 2025 Kansas Central rate increase, stronger weather-normalized demand, and gains on clean energy investments. Guidance held. The balance sheet absorbed the spending: year-to-date capex was $1,811.8 million, against $1,220.1 million a year earlier. Evergy replaced its credit lines with a $3.5 billion facility and issued $600 million of junior subordinated notes at 6.40% in August 2026.

Bull case: rate relief and load growth are lifting earnings, and management expects at least one more large-customer agreement in 2026. Bear case: at 22.7x trailing earnings as of the August 5, 2026 quarterly report date, not today, the stock is priced above the 19.8x year-end level, while borrowing costs climb.

What to watch: Evergy Metro rate case hearing in October 2026, seeking about $140 millione; the next large-customer agreement

03—Filings

Recent SEC Filings

  1. 8-KEvergy 8-K Report, Corporate Update (Sep 16, 2026)Evergy, Inc. and its subsidiary Evergy Kansas Central, Inc. filed a combined Current Report on Form 8-K disclosing that on September 16, 2026, Evergy Kansas Central issued $350,000,000 aggregate principal amount of its First Mortgage Bonds, 5.600% Series due 2034 (the "Mortgage Bonds"). The bonds were issued under an Underwriting Agreement dated September 10, 2026, with PNC Capital Markets LLC, RBC Capital Markets, LLC, Truist Securities, Inc. and U.S. Bancorp Investments, Inc. acting as representatives of the several underwriters. The Mortgage Bonds were registered under the Securities Act of 1933 pursuant to Evergy Kansas Central's shelf registration statement on Form S-3 (333-281614-02). The filing is a debt financing disclosure under Item 8.01 (Other Events). It identifies the key transaction documents filed as exhibits, including the Underwriting Agreement, the Fifty-Sixth Supplemental Indenture dated September 16, 2026 with The Bank of New York Mellon Trust Company, N.A. as trustee, and a legal opinion of Heather A. Humphrey on the validity of the bonds. The filing does not state how the proceeds will be used. For investors, the filing confirms a $350 million fixed-rate senior secured debt issuance at the regulated utility subsidiary level, priced at a 5.600% coupon with a 2034 maturity. It does not include financial results or changes to guidance.
  2. 8-KEvergy 8-K Report, Agreement Terminated (Aug 24, 2026)Evergy, Inc. reported on Form 8-K that on August 24, 2026 it terminated its $500 million Term Loan Credit Agreement, dated February 11, 2026, with Wells Fargo Bank, N.A., as administrative agent. The loan was scheduled to mature February 10, 2027, and the Company states it incurred no early termination penalties. The same day, Evergy issued $600,000,000 in aggregate principal amount of 6.40% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2057. The offering was made under an Underwriting Agreement dated August 17, 2026 with BofA Securities, Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc. and Wells Fargo Securities, LLC as representatives of the underwriters. The Notes were registered under a Form S-3 shelf registration statement filed August 16, 2024 (File No. 333-281614). The filing also includes Supplemental Indenture No. 5, dated August 24, 2026, to the Subordinated Indenture dated May 18, 2009 with The Bank of New York Mellon Trust Company, N.A., as trustee, along with legal opinions from Hunton Andrews Kurth LLP on the validity of the Notes and certain tax matters, filed for incorporation into the registration statement.
  3. 8-KEvergy 8-K Report, Financial Results (Aug 6, 2026)Evergy, Inc. (NASDAQ: EVRG) reported 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, in the second quarter of 2025. Adjusted earnings (non-GAAP) were $208.5 million, or $0.88 per share, compared to $191.1 million, or $0.82 per share, a year earlier. Management attributed the year-over-year improvement in adjusted EPS to recovery of regulated investments, growth in weather-normalized demand and higher large customer revenues, partially offset by higher operations and maintenance expense and higher depreciation and amortization expense. The company reaffirmed its 2026 adjusted EPS guidance of $4.14 to $4.34 and its long-term adjusted EPS annual growth target of 6% to 8%+ through 2030, based on the 2026 guidance midpoint of $4.24. Management expects annual EPS growth to exceed 8% beginning in 2028 and through 2030. CEO David Campbell said large customer interest in Kansas and Missouri remains very strong and that the company expects to execute at least one more electric service agreement in 2026. The Board declared a quarterly dividend of $0.6950 per share, payable September 18, 2026 to shareholders of record as of August 18, 2026. The filing also covers Evergy Kansas Central, Inc. and Evergy Metro, Inc., which furnish information on their own behalf. The earnings release and related information are furnished under Items 2.02 and 7.01 and are not deemed filed for Section 18 purposes.
  4. 8-KEvergy 8-K Report, Material Agreement (Jul 1, 2026)Evergy, Inc., together with its subsidiaries Evergy Kansas Central, Inc. and Evergy Metro, Inc., filed this combined Current Report on Form 8-K to disclose a refinancing of its bank credit facilities. On June 30, 2026, Evergy, Evergy Missouri West, Inc., Evergy Metro and Evergy Kansas Central entered into a new Credit Agreement with Wells Fargo Bank, National Association, as Administrative Agent, and a syndicate of lenders. The new master revolving credit facility provides maximum borrowings of up to $3.5 billion outstanding at any time, with sublimits of $200 million for letters of credit and $250 million for swingline loans, and an option to increase commitments by up to an additional $1 billion. The facility matures on June 30, 2031, and the borrowers may extend it on up to two occasions for one-year terms, subject to lender participation. Concurrently with the new facility, the borrowers terminated the $2.5 billion Amended and Restated Credit Agreement dated August 31, 2021, which was scheduled to mature August 31, 2028. Evergy also terminated a $1 billion Delayed Draw Term Loan Credit Agreement dated May 5, 2026, whose commitments were due to expire August 10, 2026. The filing states that no early termination penalties were incurred in connection with these terminations. The new agreement includes customary covenants, including a maximum ratio of total indebtedness to total capitalization of 0.65 to 1.0 for Evergy Kansas Central, Evergy Metro and Evergy Missouri West, and 0.675 to 1.0 for Evergy. The filing also notes that the lenders and their affiliates have performed and may continue to perform investment banking, financial advisory, lending and commercial banking services for the companies, for which they receive customary compensation.
  5. 8-KEvergy 8-K Report, Corporate Update (Jul 1, 2026)Evergy, Inc. and its subsidiary Evergy Kansas Central, Inc. filed this combined Current Report on Form 8-K to disclose that on July 1, 2026, Evergy Kansas Central issued $350,000,000 aggregate principal amount of its First Mortgage Bonds, 5.300% Series due 2036 (the "Mortgage Bonds"). The bonds were sold under an Underwriting Agreement dated June 22, 2026 with Barclays Capital Inc., BNY Mellon Capital Markets, LLC, Goldman Sachs & Co. LLC and U.S. Bancorp Investments, Inc., as representatives of the underwriters, and were registered under the Securities Act of 1933 via a shelf registration statement on Form S-3 (333-281614-02) of Evergy Kansas Central. The filing is a financing disclosure under Item 8.01 (Other Events). It sets out the transaction documents filed as exhibits, including the Underwriting Agreement, the Fifty-Fifth Supplemental Indenture dated July 1, 2026 with The Bank of New York Mellon Trust Company, N.A. as trustee, and a legal opinion from Heather A. Humphrey on the validity of the bonds. The filing states that each registrant reports solely on its own behalf and makes no representation as to the other registrant's information. The filing does not disclose use of proceeds, pricing terms beyond the coupon, or any effect on Evergy's financial results. For investors, it is a routine debt issuance at the subsidiary level that adds $350 million of long-term secured debt to Evergy Kansas Central's capital structure.
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04—See also

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