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

Westar Energy Inc Ks

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

GAAP EPS of $0.81; Adjusted EPS (Non-GAAP) of $0.85
Declares quarterly dividend of $0.535
Reaffirms 2021 adjusted earnings guidance

KANSAS CITY, MO., August 5, 2021 – Evergy, Inc. (NYSE: EVRG) today announced second quarter 2021 earnings of $185 million, or $0.81 per share, compared with earnings of $133 million, or $0.59 per share, for the second quarter of 2020.

Evergy's adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) were $195 million and $0.85, respectively, in the second quarter of 2021 compared with $154 million and $0.68, respectively, in the second 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.

Second quarter earnings per share were driven higher primarily by higher weather-normalized demand, higher transmission margin, lower operating and maintenance expense and higher other income, partially offset by unfavorable weather.

"Strong financial and operational execution allowed our team to deliver solid results in the first half of the year. We also completed a number of significant milestones, including the announcement of our Integrated Resource Plan (IRP), which outlines and accelerates the company's carbon reduction timeline, the completion of Sustainability Transformation Plan workshops in both Kansas and Missouri, and the passage of securitization legislation in both states," said David Campbell, Evergy president and chief executive officer. "We will remain focused on execution in order to capitalize on this strong momentum."

Earnings Guidance

The Company has reaffirmed its 2021 adjusted EPS guidance range of $3.20 to $3.40 and long-term adjusted EPS annual growth target of 6% to 8% from 2019 through 2024.

Dividend Declaration

The Board of Directors declared a dividend on the Company's common stock of $0.535 per share payable on September 20, 2021. The dividends are payable to shareholders of record as of August 20, 2021.

Earnings Conference Call

Evergy management will host a conference call Thursday, August 5, with the investment community at 8:00 a.m. ET (7:00 a.m. CT). Investors, media and the public may listen to the conference call by dialing (888) 353-7071, conference ID 3065454. A webcast of the live conference call will be available at http://investors.evergy.com.
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investors.evergy.com

The following information was filed by Westar Energy Inc Ks on Thursday, August 5, 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: 0001711269-21-000062
Submitted to the SEC: Tue Nov 02 2021 5:34:10 PM EST
Accepted by the SEC: Wed Nov 03 2021
Period: Thursday, September 30, 2021
Industry: Electric Services

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