Evergy, Inc. (NASDAQ:EVRG) Q1 2024 earnings call has taken place. The outcomes have not met projections, with both, revenue and EPS, missing estimates. Nevertheless, there has been a slight growth in yearly revenue. The company has declared a
$0.64 quarterly dividend and reaffirmed 2024 Guidance. A number of stakeholders, including Retirement Systems of Alabama, New York Life Investment Management, Savant Capital, and Truist Financial Corp have reportedly sold substantial shares of Evergy, Inc., adding to the company's challenges. However, Evergy is making strategic
acquisitions and investments to strengthen its position. Despite facing some obstacles such as mounting debt and concerns over Return on Equity (ROE), Evergy seems undervalued, providing potential for stronger load growth. Yet, insiders sold US$1.6m of shares which indicates hesitancy. The company plans to issue
$1.1B notes for refinancing its debts. In response to growing demand, they appear to be increasing investments into
clean energy. Their Q3 2023 earnings showed an adjusted EPS dropping to $1.88 from $2.00 year over year. Evergy also plans to conduct its 2024 Shareholders Meeting online and has recently received
electric rate hike approval from Kansas regulators.
Evergy EVRG News Analytics from Mon, 16 May 2022 07:00:00 GMT to Fri, 10 May 2024 15:55:24 GMT -
Rating -2
- Innovation 4
- Information 6
- Rumor 6
