01—Abstract
Summary
Summary of the 8-K filed May 7, 2026. Cited figures are marked; the original filing is the authoritative source.
Evergy, Inc. (NASDAQ: EVRG) reported first quarter 2026 GAAP earnings of $151.5 milliona, or $0.64 per share, compared with $125.0 million, or $0.54 per share, in the first quarter of 2025.
Adjusted earnings (non-GAAP) were $161.8 millionb, or $0.69 per share, versus $127.8 million, or $0.55 per share, a year earlier. The company said adjusted EPS benefited from recovery of regulated investments, growth in weather-normalized demand, and higher large customer and other revenues. These gains were partially offset by mild winter weather, higher operations and maintenance expense, and higher depreciation and amortization expense.
The filing also notes a $10.3 millionc pre-tax loss and fees tied to the repurchase of $244.1 million aggregate principal amount of convertible notes in the quarter, which Evergy excludes from adjusted results. Evergy reaffirmed its 2026 adjusted EPS guidance of $4.14 to $4.34, with a midpoint of $4.24, and reaffirmed a long-term adjusted EPS annual growth target of 6% to 8%+ through 2030. Management expects annual adjusted EPS growth to exceed 8% beginning in 2028 and continuing through 2030.
The company also declared a quarterly dividend of $0.6950d per share, payable June 18, 2026, to shareholders of record as of May 22, 2026. On the large customer front, Evergy announced it signed its fifth large customer electric service agreement, for a project in its Kansas Central service territory.
Service under the large load power service (LLPS) tariff begins in 2027. Management describes the LLPS framework as one in which new large customers pay a premium rate that covers their fair share of existing and new system costs.
02—Key points
Key Highlights
- Q1 2026 GAAP EPS of $0.64 vs. $0.54 in Q1 2025; GAAP earnings of $151.5 million vs. $125.0 million
- Q1 2026 adjusted EPS (non-GAAP) of $0.69 vs. $0.55 in Q1 2025; adjusted earnings of $161.8 million vs. $127.8 million
- 2026 adjusted EPS guidance of $4.14 to $4.34 reaffirmed, with a $4.24 midpoint
- Long-term adjusted EPS annual growth target of 6% to 8%+ through 2030 reaffirmed; growth expected to exceed 8% beginning in 2028
- Quarterly common dividend of $0.6950 per share declared, payable June 18, 2026 to holders of record as of May 22, 2026
- Fifth large customer electric service agreement signed for a Kansas Central project, with service beginning in 2027 under the LLPS tariff
- Repurchased $244.1 million aggregate principal of convertible notes in Q1 2026, incurring $10.3 million of losses and fees (excluded from adjusted results)
03—Questions
Frequently Asked Questions
How did Evergy perform in the first quarter of 2026?
Evergy reported GAAP earnings of $151.5 million, or $0.64 per share, versus $125.0 million, or $0.54 per share, in Q1 2025. Adjusted earnings (non-GAAP) were $161.8 million, or $0.69 per share, compared with $127.8 million, or $0.55 per share, a year earlier. Management cited recovery of regulated investments, weather-normalized demand growth, and higher large customer and other revenues as drivers, partly offset by mild winter weather, higher operations and maintenance expense, and higher depreciation and amortization.
Did Evergy change its 2026 earnings guidance?
No. Evergy reaffirmed its 2026 adjusted EPS (non-GAAP) guidance range of $4.14 to $4.34, based on a midpoint of $4.24. The company said it remains on track to achieve this range despite mild first-quarter weather.
What is Evergy's long-term growth outlook?
Evergy reaffirmed a long-term adjusted EPS annual growth target of 6% to 8%+ through 2030, measured off the 2026 adjusted EPS guidance midpoint. Management expects annual adjusted EPS growth to exceed 8% beginning in 2028 and through 2030.
What dividend did Evergy declare and when is it paid?
The Board declared a quarterly dividend of $0.6950 per share on the company's common stock. It is payable June 18, 2026, to shareholders of record as of May 22, 2026.
What is the large customer news in this filing?
Evergy signed its fifth large customer electric service agreement, for a project in its Kansas Central service territory. Beginning in 2027, the customer will take service under the company's large load power service (LLPS) tariff, under which new large customers pay a premium rate intended to cover their fair share of existing and new system costs.
04—Continue