Evergy Raises Earnings Guidance For FY21; Backs View For Next Fiscal

(RTTNews) - Evergy, Inc. (EVRG), an energy company in Kansas and Missouri, on Wednesday raised its earnings guidance for the current fiscal and reaffirmed its previous projection for the fiscal 2022, after the company reported improved results for the third quarter, owing to higher retail sales from warmer weather, increased transmission margin, higher other income, and lower tax expense.

The Kansas City-headquartered firm now expects adjusted earnings per share (EPS) to be in the range of $3.50 - $3.60 for the fiscal year 2021, compared to its previous projection of $3.20 - $3.40. The energy company has also affirmed its fiscal 2022 adjusted earnings per share guidance range of $3.43 - $3.63, as well as its long-term adjusted EPS annual growth target of 6 percent to 8 percent through 2025 from the $3.30 midpoint of the original 2021 adjusted EPS guidance range.

Analysts expect the company to earn $3.35 per share for current fiscal and $3.52 per share for next fiscal, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company will pay a quarterly cash dividend of $0.57, per share on December 20, to shareholders of record on November 19.

Owing to higher demand, the company generated a net income of $449.4 million or $1.95 per share for the quarter ended in September, compared to a net income of $364.5 million or $1.60 per share, reported for the same period, last year.