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Evergy Kansas Central, Inc. (54507) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

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-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)
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)
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)
CIK: 54507
Form Type: 10-Q Quarterly Report
Accession Number: 0001711269-22-000018
Submitted to the SEC: Wed May 04 2022 5:34:17 PM EST
Accepted by the SEC: Thu May 05 2022
Period: Thursday, March 31, 2022
Industry: Electric Services

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