Advertisement
U.S. markets closed
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • Dow 30

    39,807.37
    +47.29 (+0.12%)
     
  • Nasdaq

    16,379.46
    -20.06 (-0.12%)
     
  • Russell 2000

    2,124.55
    +10.20 (+0.48%)
     
  • Crude Oil

    83.11
    -0.06 (-0.07%)
     
  • Gold

    2,254.80
    +16.40 (+0.73%)
     
  • Silver

    25.10
    +0.18 (+0.74%)
     
  • EUR/USD

    1.0799
    +0.0006 (+0.05%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • GBP/USD

    1.2639
    +0.0017 (+0.14%)
     
  • USD/JPY

    151.2400
    -0.1320 (-0.09%)
     
  • Bitcoin USD

    70,306.02
    -1,067.16 (-1.50%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Nikkei 225

    40,369.44
    +201.37 (+0.50%)
     

Evergy (EVRG) Q1 Earnings Beat Estimates, Revenues Miss

Evergy, Inc. EVRG reported first-quarter 2020 operating earnings of 41 cents per share, beating the Zacks Consensus Estimate by a penny. The reported earnings were down 6.8% year over year due to unfavorable weather, which in turn reduced demand and lowered corporate-owned life insurance benefits.

GAAP earnings in the reported quarter were 31 cents compared with 39 cents in the year-ago period.

Total Revenues

Evergy’s total revenues came in at $1,117 million, missing the Zacks Consensus Estimate of $1,191 million by 6.2%. The top line also declined 8.2% from the year-ago-quarter’s $1,217 million.

Evergy Inc Price, Consensus and EPS Surprise

Evergy Inc Price, Consensus and EPS Surprise
Evergy Inc Price, Consensus and EPS Surprise

Evergy Inc price-consensus-eps-surprise-chart | Evergy Inc Quote

Highlights of the Release

Total operating expenses were $919.2 million, down 8.8% from the year-ago quarter’s $1,007.3 million owing to lower fuel and purchased power, along with operating and maintenance costs.

Interest expenses in the reported quarter were $96.2 million, up 5.6% from the year-ago level.

In 2019, Evergy repurchased 29 million shares. Since the inception of the repurchase program, the company has bought back 45 million shares under the 60-million share repurchase authorization. However, it did not repurchase any shares during the first quarter.

Financial Update

Cash and cash equivalents as of Mar 31, 2020 were $304.4 million compared with $23.2 million at 2019-end.

Long-term debt as of Mar 31, 2020 was $8,993.5 million compared with $8,746.7 million at 2019-end.

Cash from operating activities in first-quarter 2020 was $320.6 million compared with $362.1 million in the prior-year comparable period.

Zacks Rank

Currently, Evergy has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Releases

Xcel Energy Inc. XEL posted first-quarter 2020 operating earnings of 56 cents per share, lagging the Zacks Consensus Estimate of 59 cents by 5.1%.

FirstEnergy Corporation FE came up with first-quarter 2020 operating earnings of 66 cents per share, which beat the Zacks Consensus Estimate of 64 cents by 3.1%.

Dominion Energy Inc. D reported first-quarter 2020 operating earnings of $1.09 per share, missing the Zacks Consensus Estimate by a penny.

5 Stocks Set to Double

Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

Today, See These 5 Potential Home Runs >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
FirstEnergy Corporation (FE) : Free Stock Analysis Report
 
Xcel Energy Inc (XEL) : Free Stock Analysis Report
 
Dominion Energy Inc (D) : Free Stock Analysis Report
 
Evergy Inc (EVRG) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

Advertisement