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Evergy Kansas Central, Inc. (54507) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

Westar Energy Inc Ks

CIK: 54507
Exhibit 99.1

NEWS RELEASE
FOR IMMEDIATE RELEASE

Evergy Announces 2020 First Quarter Results

GAAP EPS of $0.31; Adjusted EPS (Non-GAAP) of $0.41
Declares quarterly dividend of $0.505

KANSAS CITY, MO., May 6, 2020 - Evergy, Inc. (NYSE: EVRG) today announced first quarter 2020 earnings of $69 million, or $0.31 per share, compared with earnings of $100 million, or $0.39 per share, for the first quarter of 2019.

Evergy's adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) were $94 million and $0.41, respectively, in the first quarter of 2020 compared with $111 million and $0.44, respectively, in the first quarter of 2019. Adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) are reconciled to GAAP earnings in the financial table included in this release.

First quarter earnings per share were lower than last year, mainly driven by unfavorable weather and lower corporate-owned life insurance (COLI) benefits. These effects were partially offset by lower operating and maintenance expenses driven by continued execution of cost management, costs incurred in 2019 from a winter storm, and fewer shares outstanding.

"Preserving employee and public safety, while delivering safe and reliable energy to customers, is always our first priority, especially during this truly unique time" said Terry Bassham, Evergy president and chief executive officer. "To also deliver another solid quarter of financial results under these circumstances is a testament to all our employees and management team."

Dividend Declaration

The Board of Directors declared a dividend on the Company's common stock of $0.505 per share payable on June 19, 2020. The dividends are payable to shareholders of record as of May 20, 2020.

Earnings Conference Call
    
Evergy management will host a conference call Thursday, May 7, 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 2842019. A webcast of the live conference call will be available at www.evergyinc.com.

Members of the media are invited to listen to the conference call and then contact Gina Penzig with any follow-up questions.

This earnings announcement, a package of detailed first-quarter financial information, the Company's quarterly report on Form 10-Q for the period ended March 31, 2020 and other filings the Company has made with the Securities and Exchange Commission are available on the Company's website at www.evergyinc.com.

______________________________________________________________________________________________________
evergyinc.com


The following information was filed by Westar Energy Inc Ks on Wednesday, May 6, 2020 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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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Balance Sheets - Evergy Kansas Central, Inc
Consolidated Balance Sheets - Evergy Kansas Central, Inc (Parenthetical)
Consolidated Balance Sheets - Evergy Metro, Inc
Consolidated Balance Sheets - Evergy Metro, Inc (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (Parenthetical)
Consolidated Statements Of Cash Flows - Evergy Kansas Central, Inc
Consolidated Statements Of Cash Flows - Evergy Metro, Inc
Consolidated Statements Of Cash Flows - Evergy Metro, Inc (Parenthetical)
Consolidated Statements Of Changes In Equity
Consolidated Statements Of Changes In Equity (Parenthetical)
Consolidated Statements Of Changes In Equity - Evergy Kansas Central, Inc
Consolidated Statements Of Changes In Equity - Evergy Metro, Inc
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income - Evergy Metro, Inc
Consolidated Statements Of Income - Evergy Kansas Central, Inc
Commitments And Contingencies
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Gains (Losses) (Details)
Fair Value Measurements - Long-Term Debt (Details)
Fair Value Measurements - Narrative (Details)
Fair Value Measurements - Nav (Details)
Fair Value Measurements - Recurring (Details)
Long-Term Debt
Long-Term Debt - Narrative (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 - 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 (Tables)
Pension Plans And Post-Retirement Benefits - Narrative (Details)
Pension Plans And Post-Retirement Benefits - Schedule Of Components Of Net Periodic Benefit Costs (Details)
Rate Matters And Regulation
Rate Matters And Regulation - Narrative (Details)
Receivables
Receivables (Details)
Receivables (Tables)
Receivables - Allowance For Credit Loses (Details)
Receivables - Narrative (Details)
Receivables - Other Receivables (Details)
Receivables - Pledged As Collateral (Details)
Related Party Transactions And Relationships
Related Party Transactions And Relationships (Details)
Related Party Transactions And Relationships (Tables)
Revenue
Revenue (Details)
Revenue (Tables)
Short-Term Borrowings And Short-Term Bank Lines Of Credit
Short-Term Borrowings And Short-Term Bank Lines Of Credit (Tables)
Short-Term Borrowings And Short-Term Bank Lines Of Credit - Narrative (Details)
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: 0001711269-20-000031
Submitted to the SEC: Wed May 06 2020 4:40:33 PM EST
Accepted by the SEC: Wed May 06 2020
Period: Tuesday, March 31, 2020
Industry: Electric Services

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