Evergy Q3 adjusted EPS beats estimates on warmer weather; raises 2026 outlook
Overview
U.S. electric utility's Q3 adjusted EPS rose yr/yr, beating analyst expectations
Company raised 2026 adjusted EPS guidance range
Q3 results driven by warmer weather and higher large customer revenues
Outlook
Evergy raises 2026 adjusted EPS guidance to $4.35-$4.50 from $4.14-$4.34
Company reaffirms long-term adjusted EPS annual growth target of 6%-8%+ through 2030
Evergy expects annual adjusted EPS growth to exceed 8% beginning in 2028 through 2030
Result Drivers
WARMER WEATHER - Co said Q3 adjusted EPS benefited from significantly warmer weather and record peak demand
LARGE CUSTOMER REVENUES - Higher revenues from large customers contributed to Q3 results, per company
HIGHER OPERATING COSTS - Higher operations and maintenance expense, as well as higher depreciation and amortization expense, partially offset favorable results
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Adjusted EPS | Beat | $2.58 | $2.31 (9 Analysts) |
Q3 EPS | $2.59 | ||
Q3 Net Income | $612.90 mln | ||
Q3 Dividend | $0.72 |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electric utilities peer group is "buy"
Wall Street's median 12-month price target for Evergy, Inc. is $90.50, about 5% above its November 4 closing price of $86.21
The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 19 three months ago
Reuters Recommended Reads
Nov 5 - NorthWestern Energy Q3 adjusted EPS miss on Colstrip acquisitions costs
Nov 3 - Pinnacle West Q3 revenue rises, EPS beats expectations
Nov 5 - Duke Energy Q3 adjusted EPS beats estimates
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)