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's (EVRG) Q4 Earnings and Revenues Miss Estimates
Read MoreHide Full Article
Evergy, Inc. (EVRG - Free Report) reported fourth-quarter 2018 operating earnings of 8 cents per share, lagging the Zacks Consensus Estimate of 24 cents by 66.7% but improving from the year-ago loss of 25 cents.
The year-over-year improvement of the bottom line is attributable to favorable weather and lower income tax expense, owing to year-over-year increase in pro-forma earnings.
Total Revenues
Evergy’s total revenues came in at $1,199.8 million, improving 101.7% year over year. However, the figure lagged the Zacks Consensus Estimate of $1,256 million by 4.5%.
Highlights of the Release
Total operating expenses increased 122.1% year over year to $1,049.7 million, due to higher fuel and purchased power, along with operation and maintenance costs.
Interest and related charges in the reported quarter were $88.3 million, up 106.3% from the year-ago level.
During the year, the company retired 1,500 MW of coal-fired generation from its portfolio and added 244 MW of wind energy in its generation assets.
The company repurchased shares worth $1,042.3 million and paid dividend of $475 million during 2018.
Financial Update
Cash and cash equivalents as of Dec 31, 2018 were $160.3 million compared with $3.4 million in the corresponding period of 2017.
Long-term debt as of Dec 31, 2018 was $6.64 billion compared with $3.69 billion at the end of 2017.
Cash from operating activities in 2018 was $1,497.8 million, up 64.1% from $912.7 million a year ago.
Covanta Holding Corporation reported fourth-quarter 2018 earnings of 4 cents per share, missing the Zacks Consensus Estimate of 7 cents by 42.86%.
NextEra Energy Partners, LP (NEP - Free Report) incurred fourth-quarter 2018 loss of 39 cents per unit, lagging the Zacks Consensus Estimate of earnings of 48 cents.
Equinor ASA (EQNR - Free Report) reported fourth-quarter 2018 adjusted earnings of 46 cents per ADR, missing the Zacks Consensus Estimate of 52 cents.
This Could Be the Fastest Way to Grow Wealth in 2019
Research indicates one sector is poised to deliver a crop of the best-performing stocks you'll find anywhere in the market. Breaking news in this space frequently creates quick double- and triple-digit profit opportunities.
These companies are changing the world – and owning their stocks could transform your portfolio in 2019 and beyond. Recent trades from this sector have generated +98%, +119% and +164% gains in as little as 1 month.
Image: Bigstock
Evergy's (EVRG) Q4 Earnings and Revenues Miss Estimates
Evergy, Inc. (EVRG - Free Report) reported fourth-quarter 2018 operating earnings of 8 cents per share, lagging the Zacks Consensus Estimate of 24 cents by 66.7% but improving from the year-ago loss of 25 cents.
The year-over-year improvement of the bottom line is attributable to favorable weather and lower income tax expense, owing to year-over-year increase in pro-forma earnings.
Total Revenues
Evergy’s total revenues came in at $1,199.8 million, improving 101.7% year over year. However, the figure lagged the Zacks Consensus Estimate of $1,256 million by 4.5%.
Highlights of the Release
Total operating expenses increased 122.1% year over year to $1,049.7 million, due to higher fuel and purchased power, along with operation and maintenance costs.
Interest and related charges in the reported quarter were $88.3 million, up 106.3% from the year-ago level.
During the year, the company retired 1,500 MW of coal-fired generation from its portfolio and added 244 MW of wind energy in its generation assets.
The company repurchased shares worth $1,042.3 million and paid dividend of $475 million during 2018.
Financial Update
Cash and cash equivalents as of Dec 31, 2018 were $160.3 million compared with $3.4 million in the corresponding period of 2017.
Long-term debt as of Dec 31, 2018 was $6.64 billion compared with $3.69 billion at the end of 2017.
Cash from operating activities in 2018 was $1,497.8 million, up 64.1% from $912.7 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 stocks here.
Other Releases
Covanta Holding Corporation reported fourth-quarter 2018 earnings of 4 cents per share, missing the Zacks Consensus Estimate of 7 cents by 42.86%.
NextEra Energy Partners, LP (NEP - Free Report) incurred fourth-quarter 2018 loss of 39 cents per unit, lagging the Zacks Consensus Estimate of earnings of 48 cents.
Equinor ASA (EQNR - Free Report) reported fourth-quarter 2018 adjusted earnings of 46 cents per ADR, missing the Zacks Consensus Estimate of 52 cents.
This Could Be the Fastest Way to Grow Wealth in 2019
Research indicates one sector is poised to deliver a crop of the best-performing stocks you'll find anywhere in the market. Breaking news in this space frequently creates quick double- and triple-digit profit opportunities.
These companies are changing the world – and owning their stocks could transform your portfolio in 2019 and beyond. Recent trades from this sector have generated +98%, +119% and +164% gains in as little as 1 month.
Click here to see these breakthrough stocks now >>