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Westar Energy Inc Ks (54507) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

Westar Energy Inc Ks

CIK: 54507
Exhibit 99.1


NEWS RELEASE
FOR IMMEDIATE RELEASE


Evergy Announces 2019 Second Quarter Results; Reaffirms 2019 Earnings Guidance

GAAP EPS of $0.57; Adjusted EPS (Non-GAAP) of $0.58
Declares quarterly dividend of $0.475 per share

KANSAS CITY, MO., August 7, 2019 - Evergy, Inc. (NYSE: EVRG) today announced second quarter 2019 earnings of $140 million, or $0.57 per share, compared with earnings of $102 million, or $0.56 per share, for the second quarter of 2018.

Evergy’s adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) were $140 million and $0.58, respectively, in the second quarter of 2019 compared with $179 million and $0.67, respectively, in the second quarter of 2018. Adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP), which exclude certain merger-related costs and/or benefits, are reconciled to GAAP earnings in the financial table included in this release.

Second quarter earnings were driven by the inclusion of Kansas City Power and Light (KCP&L) and KCP&L Greater Missouri Operations (GMO) results in 2019, as well as lower operating expenses. These gains were offset by unfavorable weather and higher depreciation expense. Second quarter adjusted earnings (non-GAAP) were driven by unfavorable weather offset by lower operating expenses.

Evergy reaffirmed its guidance for 2019 adjusted earnings of $2.80 to $3.00 per share. A reconciliation of this guidance to GAAP guidance is included in the presentation that accompanies the earnings call.

“Evergy’s ability to execute its merger plan is reflected in our second quarter financial results.” said Terry Bassham, Evergy president and chief executive officer. “After a year operating as Evergy, our company is delivering on commitments made during the merger and providing the significant value for both customers and shareholders that was envisioned.”

Dividend Declaration

The Board of Directors declared a dividend on the Company’s common stock of $0.475 per share payable September 20, 2019. The dividends are payable to shareholders of record as of August 30, 2019.

Earnings Conference Call
    
Evergy management will host a conference call Thursday, August 8, with the investment community at 10:00 a.m. ET (9:00 a.m. CT). Investors, media and the public may listen to the conference call by dialing (888) 353-7071, conference ID 3997919. A webcast of the live conference call will be available at www.evergyinc.com.

______________________________________________________________________________________________________
evergyinc.com


The following information was filed by Westar Energy Inc Ks on Wednesday, August 7, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Westar Energy Inc Ks's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Balance Sheets - Kansas City Power &Amp; Light Company
Consolidated Balance Sheets - Kansas City Power &Amp; Light Company (Parenthetical)
Consolidated Balance Sheets - Westar Energy, Inc
Consolidated Balance Sheets - Westar Energy, Inc (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (Parenthetical)
Consolidated Statements Of Cash Flows - Kansas City Power &Amp; Light Company
Consolidated Statements Of Cash Flows - Kansas City Power &Amp; Light Company (Parenthetical)
Consolidated Statements Of Cash Flows - Westar Energy Inc
Consolidated Statements Of Cash Flows - Westar Energy Inc (Parenthetical)
Consolidated Statements Of Changes In Equity
Consolidated Statements Of Changes In Equity (Parenthetical)
Consolidated Statements Of Changes In Equity - Kansas City Power &Amp; Light Company
Consolidated Statements Of Changes In Equity - Westar Energy, Inc
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income - Kansas City Power &Amp; Light Company
Consolidated Statements Of Income - Westar Energy, Inc
Commitments And Contingencies
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Debt (Details)
Fair Value Measurements - Gain (Loss) (Details)
Fair Value Measurements - Nav (Details)
Fair Value Measurements - Recurring (Details)
Goodwill
Goodwill (Details)
Leases
Leases (Tables)
Leases - Estimated Future Commitments Under Finance Leases (Details)
Leases - Estimated Future Commitments Under Operating Leases (Details)
Leases - Lease Payments For Operating Leases (Details)
Leases - Schedule Of Future Payments For Finance Leases (Details)
Leases - Schedule Of Lease Expense (Details)
Leases - Supplemental Cash Flow Information (Details)
Leases Narrative (Details)
Long-Term Debt
Long-Term Debt (Details)
Merger Of Great Plains Energy And Westar Energy
Merger Of Great Plains Energy And Westar Energy (Tables)
Merger Of Great Plains Energy And Westar Energy - Narrative (Details)
Merger Of Great Plains Energy And Westar Energy - Schedule Assets Acquired And Liabilities Assumed (Details)
Organization And Basis Of Presentation
Organization And Basis Of Presentation (Policies)
Organization And Basis Of Presentation (Tables)
Organization And Basis Of Presentation - Antidilutive Securities (Details)
Organization And Basis Of Presentation - Dividends Declared (Details)
Organization And Basis Of Presentation - Earnings Per Share (Details)
Organization And Basis Of Presentation - Fuel Inventory And Supplies (Details)
Organization And Basis Of Presentation - New Accounting Pronouncements (Details)
Organization And Basis Of Presentation - Organization (Details)
Organization And Basis Of Presentation - Other Income And Expense (Details)
Organization And Basis Of Presentation - Summary Of Property, Plant And Equipment (Details)
Organization And Basis Of Presentation - Supplemental Cash Flow Information (Details)
Pension Plans And Post-Retirement Benefits
Pension Plans And Post-Retirement Benefits (Details)
Pension Plans And Post-Retirement Benefits (Tables)
Rate Matters And Regulation
Rate Matters And Regulation - Proceedings (Details)
Receivables
Receivables (Details)
Receivables (Tables)
Receivables - Narrative (Details)
Receivables - Summary Of Bad Debt Expense (Details)
Related Party Transactions And Relationships
Related Party Transactions And Relationships (Details)
Related Party Transactions And Relationships (Tables)
Revenue
Revenue (Details)
Revenue (Tables)
Shareholders' Equity
Shareholders' Equity (Details)
Short-Term Borrowings And Short-Term Bank Lines Of Credit
Short-Term Borrowings And Short-Term Bank Lines Of Credit (Details)
Short-Term Borrowings And Short-Term Bank Lines Of Credit (Tables)
Short-Term Borrowings And Short-Term Bank Lines Of Credit - Schedule Of Short Term Debt (Details)
Taxes
Taxes (Tables)
Taxes - Income Tax Expense (Details)
CIK: 54507
Form Type: 10-Q Quarterly Report
Accession Number: 0001711269-19-000048
Submitted to the SEC: Wed Aug 07 2019 4:39:27 PM EST
Accepted by the SEC: Wed Aug 07 2019
Period: Sunday, June 30, 2019
Industry: Electric Services

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