Evergy, Inc. EVRG reported second-quarter 2019 operating earnings of 58 cents per share, lagging the Zacks Consensus Estimate of 60 cents by 3.3%. The second-quarter earnings were impacted by unfavorable weather conditions in its service territories.
GAAP earnings in the reported quarter were 57 cents compared with 90 cents in the year-ago period.
Evergy’s total revenues came in at $1,221.7 million, improving 36.8% year over year. However, the top line lagged the Zacks Consensus Estimate of $1,330 million by 8.4%.
Evergy Inc. Price, Consensus and EPS Surprise
Evergy Inc. price-consensus-eps-surprise-chart | Evergy Inc. Quote
Highlights of the Release
Total operating expenses increased 23.9% year over year to $950 million due to higher fuel and purchased power, along with operation and maintenance costs.
Interest and related charges in the reported quarter were $95.4 million, up 63.4% from the year-ago level.
As of Jun 30, 2019, Evergy repurchased 20 million shares worth $1,128.7 million. Since the inception of the repurchase program, the company repurchased 36.3 million shares worth nearly $2.2 billion.
Cash and cash equivalents as of Jun 30, 2019 were $107 million compared with $160.3 million on Dec 31, 2018.
Long-term debt as of Jun 30, 2019 was $7.12 billion compared with $6.64 billion on Dec 31, 2018.
Cash from operating activities in the first half of 2019 was $633.7 million compared with $397.2 million in the comparable year-ago period.
Evergy reaffirmed its guidance for 2019 adjusted earnings in the range of $2.80-$3.00 per share.
Currently, Evergy has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Dominion Energy Inc. D reported second-quarter 2019 operating earnings of 77 cents per share, beating the Zacks Consensus Estimate of 75 cents by 2.6%.
NextEra Energy, Inc. NEE reported second-quarter 2019 adjusted earnings of $2.35 per share, beating the Zacks Consensus Estimate of $2.28 by 3.1%.
FirstEnergy Corporation FE came up with second-quarter 2019 operating earnings of 61 cents per share, which beat the Zacks Consensus Estimate of 60 cents by 1.7%.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 7 stocks to watch. The report is only available for a limited time.
See 7 breakthrough stocks now>>
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
Dominion Energy Inc. (D) : Free Stock Analysis Report
NextEra Energy, Inc. (NEE) : Free Stock Analysis Report
Evergy Inc. (EVRG) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research