We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Evergy, Inc. (EVRG - Free Report) reported third-quarter 2024 operating earnings per share (EPS) of $2.02, which surpassed the Zacks Consensus Estimate of $1.95 by 3.6%. The bottom line also increased 7.4% from the year-ago quarter’s figure of $1.88.
EPS in the reported quarter benefited from new retail rates, FERC-regulated investments and growth in weather-normalized demand, partially offset by cooler summer weather, and higher depreciation and amortization expenses.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
EVRG’s Revenues
Revenues totaled $1.81 billion, which surpassed the Zacks Consensus Estimate of $1.67 billion by 8.2%. The top line also increased 8.4% from the year-ago quarter’s figure of $1.67 billion.
Total operating expenses in the quarter were $1.18 billion, up 0.04% year over year. The year-over-year increase was due to SPP network transmission costs and a rise in depreciation and amortization expenses.
Interest expenses amounted to $143.9 million, up 5.2% year over year.
EVRG’s Financial Update
Cash and cash equivalents as of Sept. 30 totaled $34.6 million compared with $27.7 million as of Dec. 31, 2023.
Long-term debt as of Sept. 30 was $11.57 billion compared with $11.05 billion as of Dec. 31, 2023.
Cash provided by operating activities in the first nine months of 2024 was $1.59 billion compared with $1.55 billion in the year-ago period.
EVRG’s Guidance
Evergy reaffirmed its 2024 operating EPS in the range of $3.73-$3.93, and the Zacks Consensus Estimate is pegged at $3.84, a tad higher than the midpoint of the company’s guided range.
The company established its 2025 EPS guidance range of $3.92-$4.12. The Zacks Consensus Estimate is pegged at $4.04, which is higher than the midpoint of the company’s guided range.
Evergy reaffirmed its EPS annual growth target of 4-6% from 2023 through 2026.
CenterPoint Energy, Inc. (CNP - Free Report) reported third-quarter 2024 adjusted earnings of 31 cents per share, which missed the Zacks Consensus Estimate of 36 cents by 13.9%. The bottom line also deteriorated by 22.5% from the year-ago figure.
CNP generated revenues of $1.86 billion, which missed the Zacks Consensus Estimate of $1.88 billion by 1.2%. The top line also came in 0.2% lower than the year-ago reported figure.
NextEra Energy, Inc. (NEE - Free Report) reported third-quarter 2024 adjusted earnings of $1.03 per share, which beat the Zacks Consensus Estimate of 98 cents by 5.1%. The bottom line also improved nearly 12.8% year over year.
In the third quarter, NextEra Energy’s operating revenues were $7.56 billion, which lagged the Zacks Consensus Estimate of $8.45 billion by 10.5%. However, the top line improved 5.5% year over year.
Avangrid, Inc. (AGR - Free Report) reported third-quarter 2024 earnings of 55 cents per share, which surpassed the Zacks Consensus Estimate of 33 cents by 66.7%. The bottom line also increased 104% from the year-ago figure of 27 cents.
Operating revenues amounted to $2.08 billion, which beat the Zacks Consensus Estimate of $2.01 billion by 3.7%. The top line also increased 5.5% from $1.97 billion reported in the comparable period of 2023.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Evergy's Q3 Earnings Beat Estimates, Revenues Increase Y/Y
Evergy, Inc. (EVRG - Free Report) reported third-quarter 2024 operating earnings per share (EPS) of $2.02, which surpassed the Zacks Consensus Estimate of $1.95 by 3.6%. The bottom line also increased 7.4% from the year-ago quarter’s figure of $1.88.
EPS in the reported quarter benefited from new retail rates, FERC-regulated investments and growth in weather-normalized demand, partially offset by cooler summer weather, and higher depreciation and amortization expenses.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
EVRG’s Revenues
Revenues totaled $1.81 billion, which surpassed the Zacks Consensus Estimate of $1.67 billion by 8.2%. The top line also increased 8.4% from the year-ago quarter’s figure of $1.67 billion.
Evergy Inc. Price, Consensus and EPS Surprise
Evergy Inc. price-consensus-eps-surprise-chart | Evergy Inc. Quote
Highlights of EVRG’s Release
Total operating expenses in the quarter were $1.18 billion, up 0.04% year over year. The year-over-year increase was due to SPP network transmission costs and a rise in depreciation and amortization expenses.
Interest expenses amounted to $143.9 million, up 5.2% year over year.
EVRG’s Financial Update
Cash and cash equivalents as of Sept. 30 totaled $34.6 million compared with $27.7 million as of Dec. 31, 2023.
Long-term debt as of Sept. 30 was $11.57 billion compared with $11.05 billion as of Dec. 31, 2023.
Cash provided by operating activities in the first nine months of 2024 was $1.59 billion compared with $1.55 billion in the year-ago period.
EVRG’s Guidance
Evergy reaffirmed its 2024 operating EPS in the range of $3.73-$3.93, and the Zacks Consensus Estimate is pegged at $3.84, a tad higher than the midpoint of the company’s guided range.
The company established its 2025 EPS guidance range of $3.92-$4.12. The Zacks Consensus Estimate is pegged at $4.04, which is higher than the midpoint of the company’s guided range.
Evergy reaffirmed its EPS annual growth target of 4-6% from 2023 through 2026.
EVRG’s Zacks Rank
EVRG currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Releases
CenterPoint Energy, Inc. (CNP - Free Report) reported third-quarter 2024 adjusted earnings of 31 cents per share, which missed the Zacks Consensus Estimate of 36 cents by 13.9%. The bottom line also deteriorated by 22.5% from the year-ago figure.
CNP generated revenues of $1.86 billion, which missed the Zacks Consensus Estimate of $1.88 billion by 1.2%. The top line also came in 0.2% lower than the year-ago reported figure.
NextEra Energy, Inc. (NEE - Free Report) reported third-quarter 2024 adjusted earnings of $1.03 per share, which beat the Zacks Consensus Estimate of 98 cents by 5.1%. The bottom line also improved nearly 12.8% year over year.
In the third quarter, NextEra Energy’s operating revenues were $7.56 billion, which lagged the Zacks Consensus Estimate of $8.45 billion by 10.5%. However, the top line improved 5.5% year over year.
Avangrid, Inc. (AGR - Free Report) reported third-quarter 2024 earnings of 55 cents per share, which surpassed the Zacks Consensus Estimate of 33 cents by 66.7%. The bottom line also increased 104% from the year-ago figure of 27 cents.
Operating revenues amounted to $2.08 billion, which beat the Zacks Consensus Estimate of $2.01 billion by 3.7%. The top line also increased 5.5% from $1.97 billion reported in the comparable period of 2023.