Evergy Reports 2025 Results and 2026 Guidance

By Chris Stiles • Thursday, February 19 16:04 • Permanent Link

Evergy, Inc. (NASDAQ: EVRG) has released its 2025 results, announced new large customers, declared a quarterly dividend, and established its 2026 guidance. The company reported a 2025 GAAP EPS of $3.66, down from $3.79 in 2024. However, the 2025 adjusted EPS (non-GAAP) was $3.83, slightly up from $3.81 in 2024.

The company also declared a quarterly dividend of $0.6950 per share and announced the signing of electric service agreements for four large customer projects. Additionally, Evergy introduced a 2026-2030 capital investment plan of $21.6 billion and established 2026 adjusted EPS (non-GAAP) guidance of $4.14-$4.34 with a long-term adjusted EPS (non-GAAP) growth target of 6-8%+ through 2030.

In the full year of 2025, Evergy's GAAP earnings were $855.6 million, or $3.66 per share, compared to $873.5 million, or $3.79 per share, in 2024. The fourth quarter of 2025 saw GAAP earnings of $84.3 million, or $0.36 per share, compared to $78.2 million, or $0.34 per share, in the fourth quarter of 2024. Adjusted earnings (non-GAAP) for the full year 2025 were $893.8 million, or $3.83 per share, compared to $877.9 million, or $3.81 in 2024.

The company's adjusted earnings (non-GAAP) per share for 2025 benefited from the recovery of regulated investments and growth in weather-normalized demand, partially offset by higher depreciation and amortization expense, as well as higher operations and maintenance and interest expense.

Evergy's Chairman and CEO, David Campbell, highlighted the company's progress in achieving its strongest reliability year, advancing regulatory outcomes, and capitalizing on economic development opportunities. The company received approval of new large load power service (LLPS) tariffs in both Kansas and Missouri in the fourth quarter, with the expectation that this will drive affordability benefits for existing customers and enhance economic growth in the two states.

Looking ahead, Evergy initiated 2026 adjusted EPS guidance of $4.14 to $4.34 and established a long-term growth target of 6% to 8%+, with the expectation that adjusted EPS growth will exceed 8% beginning in 2028.

The company's 2026 adjusted EPS (non-GAAP) guidance range is $4.14 to $4.34, and it has established a long-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. The company also declared a dividend of $0.6950 per share payable on March 20, 2026, to shareholders of record as of March 10, 2026.

Evergy's adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) for 2025 were $893.8 million or $3.83 per share, compared to $877.9 million or $3.81 per share in 2024.

Today the company's shares have moved 0.87% to a price of $76.44. Check out the company's full 8-K submission here.

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