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Evergy Kansas Central, Inc. (54507) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

Westar Energy Inc Ks

CIK: 54507
Exhibit 99.1
NEWS RELEASE
FOR IMMEDIATE RELEASE
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Evergy Announces 2021 First Quarter Results

GAAP EPS of $0.84; Adjusted EPS (Non-GAAP) of $0.55
Declares quarterly dividend of $0.535
Raises 2021 GAAP earnings guidance; affirms 2021 adjusted earnings guidance

KANSAS CITY, MO., May 6, 2021 – Evergy, Inc. (NYSE: EVRG) today announced first quarter 2021 earnings of $192 million, or $0.84 per share, compared with earnings of $69 million, or $0.31 per share, for the first quarter of 2020.

Evergy’s adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) were $125 million and $0.55, respectively, in the first quarter of 2021 compared with $94 million and $0.41, respectively, in the first quarter of 2020. 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 driven higher primarily by favorable power marketing margins gained during the February winter weather event, which also favorably impacted retail sales compared to the prior year. Adjusted earnings exclude power marketing margins gained during the February winter weather event, as well as executive transition, severance, and advisor expenses.

“We are off to a solid start in 2021,” said David Campbell, Evergy president and chief executive officer. “Our team continues to execute – delivering strong financial results in the first quarter and advancing several key regulatory and legislative objectives.”

Net-Zero Carbon Goal

Evergy recently announced its Integrated Resource Plan (IRP), which outlines and accelerates the company’s carbon reduction timeline. Evergy plans to add 3,200 megawatts of renewable generation and retire nearly 1,200 megawatts of coal-based generation in the next 10 years. The plan balances sustainability, reliability, and affordability, and outlines Evergy’s goal to achieve net-zero carbon emissions by 2045, enabled by a combination of supportive energy policies and ongoing technology developments. As part of the plan, Evergy also announced an interim target to reduce its carbon emissions 70 percent by 2030, relative to 2005 levels.

“Our net-zero carbon emission goal establishes a vision of accelerating our transition toward cleaner energy, benefitting our customers, communities and stakeholders,” said Campbell. “Reducing carbon emissions and increasing renewable energy benefits our customers by reducing operating costs and by making our operations more environmentally sustainable. The growth of renewable energy will bring economic benefits to our region through cost-competitive generation and investment in rural communities. Our plan will also assist our customers in meeting their own sustainability goals.”

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investors.evergy.com

The following information was filed by Westar Energy Inc Ks on Thursday, May 6, 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-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
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 - 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 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)
Shareholders' Equity
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)
Taxes
Taxes (Tables)
Taxes - Income Tax Expense (Details)
Taxes - State Tax Reform (Details)
CIK: 54507
Form Type: 10-Q Quarterly Report
Accession Number: 0001711269-21-000051
Submitted to the SEC: Wed Aug 04 2021 5:36:26 PM EST
Accepted by the SEC: Thu Aug 05 2021
Period: Wednesday, June 30, 2021
Industry: Electric Services

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