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Evergy Kansas Central, Inc. (54507) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

Westar Energy Inc Ks

CIK: 54507
Exhibit 99.1

NEWS RELEASE
FOR IMMEDIATE RELEASE
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Evergy Announces 2021 Results, Declares Quarterly Dividend, and Reaffirms 2022 Guidance

2021 GAAP EPS of $3.83, compared to $2.72 in 2020
2021 Adjusted EPS (Non-GAAP) of $3.54, compared to $3.10 in 2020
Declares quarterly dividend of $0.5725 per share
Reaffirms 2022 EPS guidance of $3.43 to $3.63
Updates five-year $10.7B capital plan through 2026

KANSAS CITY, MO., February 25, 2022 – Evergy, Inc. (NYSE: EVRG) today announced full year GAAP 2021 earnings of $880 million, or $3.83
per share, compared to earnings of $618 million, or $2.72 per share, for the full year 2020. Fourth quarter 2021 GAAP earnings were $53 million, or $0.23 per share, compared to earnings $51 million, or $0.22 per share, for the fourth quarter of 2020.

Evergy’s 2021 adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) were $813 million and $3.54, respectively, compared to $706 million and $3.10 in 2020, resulting in a 14% year-over-year increase and a 7% increase over the $3.30 mid-point of the Company’s original 2021 adjusted EPS guidance range.

Fourth quarter adjusted earnings (non-GAAP) were $37 million, or $0.16 per share, compared to $64 million and $0.28 per share in the fourth quarter of 2020. Fourth quarter earnings per share were lower driven by unfavorable weather, higher operational costs due primarily to timing and phasing, and income tax related items, partially offset by favorable weather-normalized demand. 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 earnings (non-GAAP) per share were driven higher primarily by favorable weather for most of the year, higher weather normalized demand, increased transmission revenue, higher AFUDC and investment earnings, and lower income tax expense.

“Our continued focus on execution allowed us to meet or exceed our 2021 objectives centered around affordability, reliability and sustainability.” said David Campbell, Evergy president and chief executive officer. “We look forward to continuing this positive momentum in 2022 by setting ambitious goals that focus on delivering near-term and long-term benefits for customers and stakeholders.”

Earnings Guidance

The Company reaffirmed its 2022 EPS guidance range of $3.43 to $3.63, as well as its long-term adjusted EPS annual growth target of 6% to 8% through 2025 from the $3.30 midpoint of the original 2021 adjusted EPS guidance range.

Dividend Declaration

The Board of Directors declared a dividend on the Company’s common stock of $0.5725 per share
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investors.evergy.com


The following information was filed by Westar Energy Inc Ks on Friday, February 25, 2022 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.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
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)
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)
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 - 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 - 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: 0001711269-22-000008
Submitted to the SEC: Thu Feb 24 2022 5:47:20 PM EST
Accepted by the SEC: Fri Feb 25 2022
Period: Friday, December 31, 2021
Industry: Electric Services

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