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Evergy (EVRG) Surpasses Q1 Earnings and Revenue Estimates

Zacks Equity Research

Evergy, Inc. EVRG reported first-quarter 2019 operating earnings of 44 cents per share, beating the Zacks Consensus Estimate of 40 cents by 10% and improving from the year-ago figure by 29.4%.

The year-over-year improvement of the bottom line is attributable to favorable weather, and lower operating and maintenance expenses.

Total Revenues

Evergy’s total revenues came in at $1,216.9 million, improving 102.8% year over year. The top line also surpassed the Zacks Consensus Estimate of $1,197 million by 1.7%.

Evergy Inc. Price, Consensus and EPS Surprise

Evergy Inc. Price, Consensus and EPS Surprise | Evergy Inc. Quote

Highlights of the Release

Total operating expenses increased 111.3% year over year to $1,007.3 million due to higher fuel and purchased power, along with operation and maintenance costs.

Interest and related charges in the reported quarter were $91.1 million, up 108% from the year-ago level.

During the quarter, the company repurchased shares worth $578.3 million and paid dividend of $119.8 million.

Financial Update

Cash and cash equivalents as of Mar 31, 2019 were $133.6 million compared with $160.3 million on Dec 31, 2018.

Long-term debt as of Mar 31, 2019 was $7.12 billion compared with $6.64 billion on Dec 31, 2018.

Cash from operating activities in the first quarter of 2019 was $362.1 million, up 39.5% from $259.6 million a year ago.

Zacks Rank

Currently, Evergy has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Releases

NextEra Energy, Inc. NEE reported first-quarter 2019 adjusted earnings of $2.20 per share, beating the Zacks Consensus Estimate of $2.01 by 9.4%.

FirstEnergy Corporation FE reported first-quarter 2019 operating earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 66 cents by 1.52%.

American Electric Power Co., Inc. AEP reported first-quarter 2019 adjusted earnings per share  of $1.19, surpassing the Zacks Consensus Estimate of $1.10 by 8.2%.

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FirstEnergy Corporation (FE) : Free Stock Analysis Report
 
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