Evergy Raises Earnings Outlook And Dividend As Large Customers Plan More Power Demand
Third-quarter adjusted earnings reached $609.9 million, while service-agreement amendments are expected to add about 250 megawatts of demand.
Evergy, which supplies electricity through regulated utilities in Kansas and Missouri, raised its 2026 adjusted earnings outlook Thursday to $4.35–$4.50 per share from $4.14–$4.34, according to its SEC filing and accompanying results release. The utility also increased its quarterly dividend 4% as earnings benefited from warmer weather, recovery of regulated investments and higher large-customer revenue.
Weather And Investment Recovery Lift Earnings
Evergy's unaudited third-quarter net income was $612.9 million, or $2.59 per share. A year earlier, the company earned $475.0 million, or $2.03 per share.
On an adjusted basis, quarterly earnings reached $609.9 million, or $2.58 per share, compared with $475.1 million, or $2.03 per share, in 2025. That measure excludes specified investment, debt-repurchase and transmission-settlement items.
Demand also increased after adjusting for weather, Evergy said. Higher operating and maintenance costs, along with depreciation and amortization, offset part of the earnings improvement.
David Campbell, Evergy's chairman and chief executive officer, attributed results ahead of management's expectations to “strong operational performance and warmer weather.” Campbell said generation reliability exceeded expectations despite significantly warmer conditions and record peak demand at both Evergy and the Southwest Power Pool.
For the first nine months of 2026, adjusted earnings totaled $980.2 million, or $4.15 per share, versus $794.0 million, or $3.41 per share, a year earlier. Net income for that period was $979.4 million, or $4.14 per share, compared with $771.3 million, or $3.31 per share.
More Demand From Large Customers
Evergy signed amendments to three existing electricity-service agreements that it expects will add approximately 250 megawatts of demand. Separately, the company signed a letter of intent with Digital Realty for a 1.4-gigawatt expansion.
Campbell said the amendments should benefit customer affordability under Evergy's rate structure for large power users. He described the agreements and Digital Realty letter as evidence of continued interest in expanding within the utility's Kansas and Missouri service areas.
That growth fits a business serving approximately 1.7 million customers at rates set by state commissions. Residential customers accounted for 37% of revenue in 2025, while commercial customers contributed 33%.
Evergy reaffirmed its target for annual adjusted earnings-per-share growth of 6% to 8%+ through 2030, measured from the original 2026 forecast midpoint of $4.24. Management expects annual growth to exceed 8% from 2028 through 2030; the higher 2026 outlook does not change that stated starting point.
A Higher Quarterly Payout
The board's dividend declaration, effective Wednesday, increased the quarterly payment 4% to $0.7225 per share. Evergy said the increase supports its long-term target of paying shareholders 50% to 60% of earnings.
The dividend will be paid December 18, 2026, to shareholders of record November 20, 2026.
Sources
- 8-K Filing — Evergy, Inc. (EVRG) — SEC EDGAR
- Exhibit d193466dex991.htm — Evergy, Inc. 8-K exhibit — SEC EDGAR
- Evergy raises 2026 adjusted EPS guidance to $4.35-$4.50 amid 1.4-gigawatt Digital Realty LOI (NASDAQ:EVRG) | Seeking Alpha — seekingalpha.com
- Evergy Raises Quarterly Dividend by 4% — MarketWatch
- Evergy Announces Third Quarter 2026 Results, Declares Quarterly Dividend and Raises 2026 Guidance — businesswire.com
