Evergy Sees Higher Earnings In FY24 - Update

(RTTNews) - Evergy, Inc. (EVRG) on Thursday said it expects fiscal 2024 earnings per share, on a reported and adjusted basis, in the range of $3.73 to $3.93.

Analysts on average expect the company to report earnings of $3.82 per share for the year , according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

In fiscal 2023, reported earnings were $3.17 per share and adjusted earnings were $3.54 per share.

In addition, the company reaffirmed its long-term adjusted earnings per share annual growth target of 4% to 6% through 2026 off the original $3.65 midpoint of 2023 adjusted earnings per share guidance.

The Board of Directors declared a dividend of $0.6425 per share payable on March 22, 2024. The dividends are payable to shareholders of record as of March 11.

In its fourth quarter, Evergy's earnings increased from last year but missed the Street estimates.

The company's earnings came in at $58.0 million, or $0.25 per share. This compares with $7.5 million, or $0.03 per share, in last year's fourth quarter.

Adjusted earnings were $61.1 million or $0.27 per share for the period. Analysts had expected the company to earn $0.29 per share.

In pre-market activity on Nasdaq, Evergy shares were trading at $51, up 2.43%.

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