Last10K.com

Evergy Kansas Central, Inc. (54507) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Westar Energy Inc Ks

CIK: 54507
Exhibit 99.1
NEWS RELEASE
FOR IMMEDIATE RELEASE
logoa081.jpg


Evergy Announces 2020 Results at Top End of Guidance Range, Declares Quarterly Dividend, and Issues 2021 Outlook

2020 GAAP EPS of $2.72, compared with $2.79 in 2019; Adjusted EPS (Non-GAAP) of $3.10, an increase of 7% vs 2019
Declares quarterly dividend of $0.535
Issues 2021 GAAP EPS guidance of $3.14 to $3.34; Adjusted EPS guidance of $3.20 to $3.40
Increases five-year capital plan to $9.2 billion through 2025

KANSAS CITY, MO., February 26, 2021 – Evergy, Inc. (NYSE: EVRG) today announced full year GAAP 2020 earnings of $618 million, or $2.72 per share, compared with earnings of $670 million, or $2.79 per share, for the full year 2019. Fourth quarter 2020 GAAP earnings were $51 million, or $0.22 per share, compared with earnings of $64 million, or $0.28 per share, for the fourth quarter of 2019.

For the year, GAAP earnings decreased primarily due to lower retail sales driven by unfavorable weather and a decrease in weather-normalized demand primarily due to pandemic impacts. Also contributing to lower earnings was higher depreciation expense from infrastructure investments, severance and advisor expenses, and higher interest expense; partially offset by lower operating and maintenance expenses.

Evergy's 2020 adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) were $706 million and $3.10, respectively, compared to $694 million and $2.89 in 2019, representing a year-over-year increase of 7%, in line with the company’s target of 6% to 8% annual growth in adjusted EPS from 2019-2024. Fourth quarter adjusted earnings (non-GAAP) were $64 million, or $0.28 per share, compared with $73 million and $0.32 per share in the fourth 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.

For the year, adjusted (non-GAAP) earnings per share were driven higher primarily by lower operations and maintenance expense due to continued cost management and fewer shares outstanding. These benefits were partially offset by unfavorable weather, lower demand due to the impacts of the pandemic, higher depreciation expense, and higher interest expense.

"I'm very excited to be part of the Evergy team and to welcome Kirk Andrews, our new Chief Financial Officer," said David Campbell, Evergy president and chief executive officer. "Our executive team and employees remained laser-focused to deliver strong financial results in 2020, despite the unprecedented challenges. We also had solid operating performance in safety and reliability, and we continued to find efficiencies throughout our business. We have a tremendous opportunity in front of us with the Sustainability Transformation Plan, which we expect to continue driving long-term value for both customers and shareholders."
______________________________________________________________________________________________________
investors.evergy.com

The following information was filed by Westar Energy Inc Ks on Friday, February 26, 2021 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Westar Energy Inc Ks's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Westar Energy Inc Ks.

Continue

Assess how Westar Energy Inc Ks's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Westar Energy Inc Ks's Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual 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
Commitments And Contingencies (Tables)
Commitments And Contingencies - Contractual Commitments (Details)
Commitments And Contingencies - Narrative (Details)
Equity Compensation
Equity Compensation (Tables)
Equity Compensation - Income Tax Benefit (Details)
Equity Compensation - Narrative (Details)
Equity Compensation - Rsus (Details)
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)
Guarantees
Guarantees (Details)
Jointly-Owned Electric Utility Plants
Jointly-Owned Electric Utility Plants (Details)
Jointly-Owned Electric Utility Plants (Tables)
Leases
Leases (Tables)
Leases - Narrative (Details)
Leases - Schedule Of Future Payments For Finance Leases (Details)
Leases - Schedule Of Future Payments For Operating Leases (Details)
Leases - Schedule Of Lease Expense (Details)
Leases - Supplemental Cash Flow Information (Details)
Long-Term Debt
Long-Term Debt (Details)
Long-Term Debt (Tables)
Long-Term Debt - Narrative (Details)
Long-Term Debt - Scheduled Maturities (Details)
Merger Of Great Plains Energy And Evergy Kansas Central
Merger Of Great Plains Energy And Evergy Kansas Central (Tables)
Merger Of Great Plains Energy And Evergy Kansas Central - Narrative (Details)
Merger Of Great Plains Energy And Evergy Kansas Central - Purchase Price Allocation (Details)
Merger Of Great Plains Energy And Evergy Kansas Central - Schedule Assets Acquired And Liabilities Assumed (Details)
Merger Of Great Plains Energy And Evergy Kansas Central - Schedule Of Pre-Tax Costs And Deferrals (Details)
Merger Of Great Plains Energy And Evergy Kansas Central - Unaudited Pro Forma Financial Information (Details)
Pension Plans And Post-Retirement Benefits
Pension Plans And Post-Retirement Benefits (Details)
Pension Plans And Post-Retirement Benefits (Tables)
Pension Plans And Post-Retirement Benefits - Apbo (Details)
Pension Plans And Post-Retirement Benefits - Cost Trend Assumptions (Details)
Pension Plans And Post-Retirement Benefits - Employee Savings Plans (Details)
Pension Plans And Post-Retirement Benefits - Expected Future Services (Details)
Pension Plans And Post-Retirement Benefits - Fair Values Of Assets (Details)
Pension Plans And Post-Retirement Benefits - Narrative (Details)
Pension Plans And Post-Retirement Benefits - Target Asset Allocations (Details)
Pension Plans And Post-Retirement Benefits - Weighted-Average Assumptions (Details)
Pension Plans And Post-Retirement Benefits Pension Plans And Post-Retirement Benefits - Schedule Of Components Of Net Periodic Benefit Costs (Details)
Property, Plant And Equipment
Property, Plant And Equipment (Details)
Property, Plant And Equipment (Tables)
Property, Plant And Equipment - Depreciation Expense (Details)
Quarterly Operating Results (Unaudited)
Quarterly Operating Results (Unaudited) (Details)
Quarterly Operating Results (Unaudited) (Tables)
Rate Matters And Regulation
Rate Matters And Regulation (Tables)
Rate Matters And Regulation - Narrative (Details)
Rate Matters And Regulation - Regulatory Matters Asset (Details)
Rate Matters And Regulation - Regulatory Matters Liabilities (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)
Schedule I Financial Statements Of Parent Company
Schedule I Financial Statements Of Parent Company Balance Sheet Parenthetical (Details)
Schedule I Financial Statements Of Parent Company Balance Sheets (Details)
Schedule I Financial Statements Of Parent Company Schedule I Financial Statements Of Parent Company - Dividends (Details)
Schedule I Financial Statements Of Parent Company Statement Of Cash Flows (Details)
Schedule I Financial Statements Of Parent Company Statements Of Income (Details)
Schedule Ii Valuation And Qualifying Accounts
Schedule Ii Valuation And Qualifying Accounts (Details)
Shareholders' Equity
Shareholders' Equity (Tables)
Shareholders' Equity - Common Stock Repurchase Program (Details)
Shareholders' Equity - Narrative (Details)
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)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Allowance For Funds Used During Construction (Details)
Summary Of Significant Accounting Policies - Antidilutive Securities (Details)
Summary Of Significant Accounting Policies - Corporate-Owned Life Insurance (Details)
Summary Of Significant Accounting Policies - Dividends Declared (Details)
Summary Of Significant Accounting Policies - Earnings Per Share (Details)
Summary Of Significant Accounting Policies - Fuel Inventory And Supplies (Details)
Summary Of Significant Accounting Policies - New Accounting Standards (Details)
Summary Of Significant Accounting Policies - Organization (Details)
Summary Of Significant Accounting Policies - Other Income (Expense) (Details)
Summary Of Significant Accounting Policies - Property, Plant And Equipment (Details)
Summary Of Significant Accounting Policies - Supplemental Cash Flow Information (Details)
Taxes
Taxes (Tables)
Taxes - Deferred Income Taxes (Details)
Taxes - Income Tax Expense (Details)
Taxes - Net Operating Loss Carryforwards (Details)
Taxes - State Tax Reform (Details)
Taxes - Tax Credit Carryforwards (Details)
Taxes - Valuation Allowance (Details)
Variable Interest Entities
Variable Interest Entities (Tables)
Variable Interest Entities - Assets And Liabilities Related To Vie (Details)
Variable Interest Entities - Narrative (Details)
CIK: 54507
Form Type: 10-K Annual Report
Accession Number: 0001711269-21-000023
Submitted to the SEC: Fri Feb 26 2021 6:13:21 AM EST
Accepted by the SEC: Fri Feb 26 2021
Period: Thursday, December 31, 2020
Industry: Electric Services

External Resources:

Bookmark the Permalink:
https://last10k.com/sec-filings/54507/0001711269-21-000023.htm