10-Q · August 5, 2021
Evergy reported Q2 2021 operating revenue of $1,236.2 million (up $51.5M, +4.3% vs Q2 2020) and diluted EPS of $0.81 (vs $0.59 in Q2 2020). Operating income was $295.3 million (operating margin 23.9%), improving both…
Earnings analysis · 10-Q
EVRG earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
Evergy reported solid growth in Q1 2026, with net income rising to $151.5 million, up 21.2% from $125.0 million in Q1 2025. Earnings per share (EPS) increased to $0.64 from $0.54, driven by higher operating revenues of…
Read full summary
Evergy reported solid growth in Q1 2026, with net income rising to $151.5 million, up 21.2% from $125.0 million in Q1 2025. Earnings per share (EPS) increased to $0.64 from $0.54, driven by higher operating revenues of $1.44 billion, a 5.0% year-over-year increase. Management highlighted strong energy sales to large customers and the impact of newly implemented rate adjustments as key contributors to the positive performance.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.64
What stood out
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Revenue Growth
Total revenue rose to $1.4437 billion in Q1 2026, increasing by $69.2 million or 5.0% from Q1 2025.
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Improved EPS
Diluted EPS for Q1 2026 was $0.64, up from $0.54 in Q1 2025, representing a 18.5% increase.
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Operating Margins Rebound
Operating income increased to $318.4 million, reflecting a $26.8 million boost compared to $291.6 million in the previous year.
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Increased Utility Gross Margin
Utility gross margin (non-GAAP) was $974.1 million, an increase of $51.3 million from $922.8 million in Q1 2025.
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Successful Rate Case
Evergy Metro requested a retail revenue increase of approximately $140 million effective October 2025, which positively impacted Q1 2026 performance.
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Healthy Cash Flows
Operating cash flow was $362.5 million for Q1 2026, indicating a robust generation of cash from operations.
What to watch
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High Interest Expenses
Interest expense increased to $174.5 million, up by 22.0% from $152.5 million in Q1 2025, reflecting heavier debt burdens.
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Decreased Cash Flow from Operations
Operating cash flow fell by $87.1 million year-over-year, down from $449.6 million in Q1 2025, potentially signaling liquidity pressures.
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Increased Maintenance Costs
Operating and maintenance expenses rose by $11.2 million to $243.2 million, driven by higher labor and contractor costs.
Management's outlook
Management anticipates continuing growth driven by large load customers and expected rate increases.
Earlier filings 4
10-Q · May 6, 2021
Evergy reported sharply higher revenue and earnings for Q1 2021 with operating revenue of $1,611.9 million (up $495.2 million vs Q1 2020) and diluted EPS of $0.84 (vs $0.31 in Q1 2020). Segment revenues at Evergy Kansas…
10-K · February 26, 2021
Evergy is an integrated, regulated electric utility serving approximately 1,620,400 customers in Kansas and Missouri that is pursuing a decarbonization-led strategy (Sustainability Transformation Plan announced August…
10-K · March 2, 2020
Evergy is a consolidated, regulated electric utility serving ~1.60 million customers in Kansas and Missouri with 14,709 MW of total capacity and a stated strategy to transition its generation fleet (added >3,500 MW…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.