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Evergy Kansas Central, Inc. (54507) SEC Filing 10-Q Quarterly Report for the period ending Thursday, June 30, 2022

Westar Energy Inc Ks

CIK: 54507
Exhibit 99.1
NEWS RELEASE
FOR IMMEDIATE RELEASE
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Evergy Announces First Quarter 2022 Results, Declares Quarterly Dividend, and Reaffirms 2022 Adjusted EPS Guidance

First quarter 2022 GAAP EPS of $0.53, compared to $0.84 in 2021
First quarter 2022 Adjusted EPS (Non-GAAP) of $0.58, compared to $0.55 in 2021
Declares quarterly dividend of $0.5725 per share
2022 GAAP EPS guidance of $3.38 to $3.58; Reaffirms 2022 Adjusted EPS guidance of $3.43 to $3.63

Kansas City, MO., May 5, 2022 – Evergy, Inc. (NYSE: EVRG) today announced first quarter 2022 GAAP earnings of $123 million, or $0.53
per share, compared to earnings of $192 million, or $0.84 per share, for first quarter 2021.

Evergy’s first quarter 2022 adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) were $134 million and $0.58, respectively, compared to $125 million and $0.55 in first quarter 2021. 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 adjusted earnings per share were higher driven by higher transmission margin, reduced credit loss expense and lower transmission and distribution expense, partially offset by higher depreciation, amortization, and income tax expense.

“It was a good start to the year, and we delivered solid first quarter results.” said David Campbell, Evergy president and chief executive officer. “We remain well-positioned to meet our 2022 and long-term targets and are laser-focused on executing our strategy of delivering affordable, reliable and sustainable electric power to our customers.”

Earnings Guidance

The Company reaffirmed its 2022 adjusted 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 payable on June 20, 2022. The dividends are payable to shareholders of record as of May 20, 2022.

Earnings Conference Call

Evergy management will host a conference call Thursday, May 5, with the investment community at 9:00 a.m. ET (8:00 a.m. CT). Investors, media, and the public may listen to the conference call by
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investors.evergy.com

The following information was filed by Westar Energy Inc Ks on Thursday, May 5, 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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Westar Energy Inc Ks's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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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)
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: 0001711269-22-000037
Submitted to the SEC: Wed Aug 03 2022 5:33:20 PM EST
Accepted by the SEC: Thu Aug 04 2022
Period: Thursday, June 30, 2022
Industry: Electric Services

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