Electricity company Evergy, Inc. (NASDAQ: EVRG) announced financial results for the first quarter of 2024, reporting lower profit despite an increase in revenues.
- First-quarter 2024 earnings, on a reported basis, decreased to $0.53 per share from $0.62 per share in the year-ago quarter
- Adjusted earnings, excluding special items, was $0.54 per share in Q1, compared to $0.59 per share last year
- March-quarter net income was $122.7 million, compared to $142.6 million in the same period last year
- Total revenue increased 2.6% to $1.33 billion in Q1 from $1.30 billion in the year-ago quarter
- The board declared a quarterly dividend of $0.6425 per share, payable on June 20, 2024, to shareholders of record as of May 20
- The company reaffirmed its fiscal 2024 earnings and adjusted earnings guidance in the range of $3.73 per share to $3.93 per share
- Evergy also confirmed its long-term adjusted EPS annual growth target of 4% to 6% through 2026, off the original $3.65 midpoint of the 2023 guidance