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Evergy Kansas Central, Inc. (54507) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2020

Westar Energy Inc Ks

CIK: 54507
Exhibit 99.1



NEWS RELEASE
FOR IMMEDIATE RELEASE
 
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Evergy Announces 2020 Second Quarter Results

GAAP EPS of $0.59; Adjusted EPS (Non-GAAP) of $0.68
Declares Quarterly Dividend of $0.505
Issues 2020 GAAP EPS Guidance of $2.66 to $2.86; Adjusted EPS Guidance of $2.90 to $3.10

KANSAS CITY, MO., August 5, 2020 - Evergy, Inc. (NYSE: EVRG) today announced second quarter 2020 earnings of $133 million, or $0.59 per share, compared with earnings of $140 million, or $0.57 per share, for the second quarter of 2019.

Evergy’s adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) were $154 million and $0.68, respectively, in the second quarter of 2020 compared with $140 million and $0.58, respectively, in the second 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.

Second quarter earnings per share were driven higher by favorable weather and lower operations and maintenance expense due to continued cost management and fewer shares outstanding. These benefits were partially offset by the impact of COVID-19 on sales and an adjustment to account for a new Kansas tax law that makes electric utilities income tax-exempt.

“Our team’s unwavering focus on safety, customer service and efficient operations contributed to positive results in the quarter,” said Terry Bassham, Evergy president and chief executive officer. “As we continue to navigate an unprecedented environment, employee and public safety, and ensuring our customers receive reliable energy remain priorities. We enhanced our community giving and introduced flexible payment options to help our customers and communities during these challenging times.”

2020 Outlook

In a separate press release issued today, the Company announced its new Sustainability Transformation Plan to drive increased value and benefits for the Company’s stakeholders. Including the contributions from this plan, Evergy expects 2020 GAAP EPS of $2.66 to $2.86 and 2020 adjusted EPS of $2.90 to $3.10. Adjusted EPS (non-GAAP) is reconciled to GAAP EPS in the financial table included in this release.

Dividend Declaration

The Board of Directors declared a dividend on the company’s common stock of $0.505 per share payable on September 21, 2020. The dividends are payable to shareholders of record as of August 20, 2020.

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evergyinc.com


The following information was filed by Westar Energy Inc Ks on Wednesday, August 5, 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 - Evergy Kansas Central, Inc
Consolidated Statements Of Cash Flows - Evergy Metro, Inc
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
Asset Retirement Obligations
Asset Retirement Obligations (Details)
Asset Retirement Obligations (Tables)
Asset Retirement Obligations - Narrative (Details)
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)
Goodwill
Goodwill (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)
Taxes - State Tax Reform (Details)
CIK: 54507
Form Type: 10-Q Quarterly Report
Accession Number: 0001711269-20-000060
Submitted to the SEC: Wed Nov 04 2020 7:43:34 PM EST
Accepted by the SEC: Thu Nov 05 2020
Period: Wednesday, September 30, 2020
Industry: Electric Services

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