Evergy (EVRG) Q2 2026 earnings summary

Executive summary

• Q2 2026 adjusted EPS was $0.88, up from $0.82 year-over-year, with GAAP EPS at $0.91, driven by regulated investment recovery, load growth, and large customer revenues, partially offset by higher O&M and depreciation expenses.

• Net income attributable to shareholders rose to $215.0 million for Q2 2026, up from $171.3 million in Q2 2025.

• Significant progress in signing large load customer agreements, especially with data centers, supporting robust economic development and customer affordability.

• Safety and operational reliability metrics are trending favorably, meeting targets despite severe storms.

• Declared a quarterly dividend of $0.6950 per share, payable September 18, 2026.

Financial highlights

• Q2 2026 adjusted earnings were $209 million ($0.88 per share), compared to $191 million ($0.82 per share) in Q2 2025; GAAP net income was $215.0 million ($0.91 per share), up from $171.3 million ($0.74 per share).

• Year-to-date adjusted EPS was $1.57, up from $1.37 in the prior year.

• Weather-normalized demand grew 1.8% for the quarter, with commercial and industrial demand as primary drivers.

• Commercial demand grew 4% and industrial demand 6.2% year-to-date, supported by new data center and Panasonic operations.

• Operating revenues for Q2 2026 were $1,500.1 million, up from $1,437.0 million in Q2 2025.

Outlook and guidance

• Reaffirmed 2026 adjusted EPS guidance of $4.14–$4.34, with long-term adjusted EPS growth target of 6%-8%+ through 2030, and annual growth expected to exceed 8% from 2028.

• Projected retail load growth CAGR of 7%-8% through 2030, anchored by long-term contracts with large load customers.

• Capital investment plan of $21.6 billion over five years, with an incremental $1 billion expected for new generation resources.

• Weighted average remaining terms of new large load contracts are 14–17 years, with $8.9 billion in minimum contractual obligations.

• No equity issuances planned for 2030 due to improving FFO.