Second Quarter 2026
Filed Aug 6, 2026Evergy Announces Second Quarter 2026 Results, Declares Quarterly Dividend and Reaffirms 2026 Guidance
Second quarter GAAP and adjusted earnings per share were higher than the comparable 2025 period, supported by regulated-investment recovery, weather-normalized demand growth and higher large-customer revenues. Evergy reaffirmed its 2026 adjusted EPS guidance.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Net income attributable to Evergy, Inc. - three months ended June 30GAAP | $215.0 million | – | – |
| Diluted earnings per share - three months ended June 30GAAP | $0.91 per share | – | – |
| Adjusted earnings - three months ended June 30non-GAAP | $208.5 million | – | – |
| Adjusted earnings per share - three months ended June 30non-GAAP | $0.88 per share | – | – |
| (Gains) losses from investments in early-stage clean energy and energy solution companies, pre-tax - three months ended June 30non-GAAP | $(7.9) million | – | – |
| Income tax expense (benefit) - three months ended June 30non-GAAP | $1.4 million | – | – |
| Net income attributable to Evergy, Inc. - year to date June 30GAAP | $366.5 million | – | – |
| Diluted earnings per share - year to date June 30GAAP | $1.55 per share | – | – |
| Adjusted earnings - year to date June 30non-GAAP | $370.3 million | – | – |
| Adjusted earnings per share - year to date June 30non-GAAP | $1.57 per share | – | – |
| Losses from the repurchase of convertible notes, pre-tax - year to date June 30non-GAAP | $10.3 million | – | – |
| (Gains) losses from investments in early-stage clean energy and energy solution companies, pre-tax - year to date June 30non-GAAP | $(7.5) million | – | – |
| Income tax expense (benefit) - year to date June 30non-GAAP | $1.0 million | – | – |
2026 outlook
- NoteAdjusted EPS (non-GAAP) guidance of $4.14 to $4.34
- NoteLong-term adjusted EPS (non-GAAP) annual growth target of 6% to 8%+ through 2030 based on the 2026 adjusted EPS (non-GAAP) guidance midpoint of $4.24
- NoteAnnual adjusted EPS growth to exceed 8% beginning in 2028 and through 2030
Capital returns
- Quarterly dividend of $0.6950 per share payable on September 18, 2026, to shareholders of record as of August 18, 2026.
What drove it
- Recovery of regulated investments.
- Growth in weather-normalized demand.
- Higher large customer revenues.
- Large customer interest in Kansas and Missouri remains very strong.
- Evergy expects to execute at least one more electric service agreement in 2026.
Concerns
- Higher operations and maintenance expense partially offset favorable second quarter adjusted EPS drivers.
- Higher depreciation and amortization expense partially offset favorable second quarter adjusted EPS drivers.
- Evergy is in the process of disposing of non-regulated investments in early-stage clean energy and energy solution companies.
- The filing identifies uncertainty around projected rapid electricity-demand growth from data centers and other large-load customers, including capital access, revenue recovery and customer affordability risks.
What to watch
- Execution of at least one more electric service agreement in 2026.
- Progress toward the reaffirmed 2026 adjusted EPS (non-GAAP) guidance range of $4.14 to $4.34.
- Operations and maintenance expense and depreciation and amortization expense.
- Disposition of non-regulated investments in early-stage clean energy and energy solution companies.
- Large-customer demand in Kansas and Missouri.
Balance sheet and cash flow
- Evergy repurchased $244.1 million aggregate principal amount of its Convertible Notes in the first quarter 2026.
- Losses and fees of $10.3 million related to the repurchase of Convertible Notes were included in interest expense.
Analysis
Evergy reported second-quarter 2026 GAAP net income attributable to Evergy of $215.0 million, or $0.91 per share, versus $171.3 million, or $0.74 per share, in the second quarter of 2025. Adjusted earnings were $208.5 million, or $0.88 per share, compared with $191.1 million, or $0.82 per share. The release attributes the year-over-year adjusted EPS improvement to recovery of regulated investments, growth in weather-normalized demand and higher large-customer revenues.
The release identifies higher operations and maintenance expense and higher depreciation and amortization expense as partial offsets to the favorable earnings drivers. The difference between GAAP and adjusted results in the quarter reflected gains from investments in early-stage clean energy and energy solution companies and the associated income-tax effect. Evergy said it is in the process of disposing of these non-regulated investments.
Year-to-date GAAP net income attributable to Evergy was $366.5 million, or $1.55 per share, and year-to-date adjusted earnings were $370.3 million, or $1.57 per share. The year-to-date non-GAAP reconciliation also included losses from the repurchase of convertible notes. The filing states that Evergy repurchased $244.1 million aggregate principal amount of Convertible Notes in the first quarter 2026, producing losses and fees of $10.3 million included in interest expense.
Capital returns included a declared quarterly common-stock dividend of $0.6950 per share. The dividend is payable on September 18, 2026, to shareholders of record as of August 18, 2026. No share-repurchase activity was reported in the provided release.
Management reaffirmed 2026 adjusted EPS guidance of $4.14 to $4.34 and reaffirmed its long-term annual adjusted EPS growth target of 6% to 8%+ through 2030 based on the $4.24 guidance midpoint. Management expects annual adjusted EPS growth to exceed 8% beginning in 2028 and through 2030. The central operating watch items are large-customer demand, execution of another electric service agreement in 2026, regulated-investment recovery, and the expense pressures identified in the release.
Management, verbatim
We remain on track to meet our expectations for the year after delivering solid second quarter financial performance.
David Campbell, Evergy chairman and chief executive officer
Large customer interest in Kansas and Missouri remains very strong. We are confident in our ability to advance our pipeline and we expect to execute at least one more electric service agreement in 2026.
David Campbell, Evergy chairman and chief executive officer
We are reaffirming our 2026 adjusted EPS guidance of $4.14 to $4.34.
David Campbell, Evergy chairman and chief executive officer
Not in the filing
stated, not guessed- Total revenue
- Revenue by segment
- Segment operating metrics
- Gross profit
- Gross margin
- Operating income
- Operating margin
- Operating expenses amount
- Cash and cash equivalents balance
- Debt balance
- Operating cash flow
- Free cash flow
- Capital expenditures
- Share repurchases
- Prior-quarter comparisons
- Percentage year-over-year changes for reported earnings metrics
- 2026 revenue guidance
- 2026 gross-margin guidance
- 2026 operating-expense guidance
- 2026 tax-rate guidance
- Comparable GAAP EPS guidance for 2026
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.