Evergy made $195 million in Q2 of 2022, shareholders to see dividend

TOPEKA, Kan. (WIBW) - Evergy made $195 million in the second quarter of 2022 and announced a stock dividend for shareholders.

On Thursday, Aug. 4, Evergy announced it made $195 million in the second quarter of 2022 - $0.84 per share of EVRG - compared to $185 million - $0.81 per share - in the second quarter of 2021.

Evergy said the adjusted earnings totaled $198 million - $0.86 per share - compared to $195 million - $0.85 per share - in the second quarter of 2021.

The utility company noted that second-quarter earnings were driven by higher weather-normalized demand, favorable weather and a higher transmission margin. However, the gains were partially offset by higher operations and maintenance expenses driven by planned generation maintenance outages and higher planned transmission and distribution expenses, higher depreciation and amortization, a higher interest expense and lower other income.

“We are on pace with our expectations for the year, as strong operational and financial performance allowed our team to deliver solid results in the second quarter,” said David Campbell, Evergy president and chief executive officer. “Employee safety performance and customer reliability have been solid despite a busy spring weather season and hot weather so far this summer. We are well-positioned to meet our 2022 goals and growth targets and continue to enhance our service to our customers and communities.”

The company indicated that it reaffirmed its 2022 adjusted EPS guidance range of $3.43 to $3.63. Additionally, it reaffirmed its long-term adjusted EPS annual growth target of 6% - 8% through 2025 from the $3.30 midpoint of the original 2021 adjusted EPS guidance range.

Evergy said its Board of Directors has declared a dividend on the company’s stock of $0.5725 per share - payable on Sept. 20. It said the dividends are payable to shareholders of record as of Aug. 19.

Evergy indicated that management will host a conference call at 9 a.m. on Thursday with the investment community.