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Evergy's (EVRG) first-quarter earnings are lower than estimates primarily due to adverse impact weather on demand.
Evergy's (EVRG) first-quarter results are expected to benefit from energy efficiency programs and cost-saving initiatives. However, higher depreciation expenses might impact negatively.
KANSAS CITY, Mo.--(BUSINESS WIRE)--Evergy, Inc. (NASDAQ: EVRG) announced today it will release its 2024 first quarter earnings Thursday, May 9, 2024, before market open. The company plans to host its quarterly conference call and audio webcast to discuss the results Thursday, May 9, 2024. Event: Evergy Q1 2024 Conference Call and Webcast Date: May 9, 2024 Time: 9:00 a.m. Eastern (8:00 a.m. Central) Location: 1) To view the webcast and presentation slides, please go to investors.ever.
Evergy is currently trading for an attractive valuation with forward EV/EBITDA of 9.6x versus the sector median of 10.36x. I expect load growth to be faster than 2%-3% given data center demand past 2025 as it takes some time to build data centers. I rate Evergy a 'Buy' and I would own it in a diversified portfolio.
Evergy's (EVRG) planned investments and strategic acquisitions are set to help it expand its existing operations. Adding more renewable assets is likely to boost its performance.
With all the stock market's volatility, few sectors have been as impacted by rate hikes, inflation and economic turbulence as utility stocks. Share prices across the industry dropped in 2022 and 2023, pumping slightly at the end of last year but not enough to offset investor losses.
Evergy's (EVRG) fourth-quarter earnings were lower than expected. The company unveils capital expenditure plan of $12.5 billion for 2024-2028 period.
Evergy Inc (EVRG) came out with quarterly earnings of $0.27 per share, missing the Zacks Consensus Estimate of $0.30 per share. This compares to earnings of $0.30 per share a year ago.
Evergy's (EVRG) Q4 earnings are likely to have gained from cost-saving initiatives. However, still-high interest rates and higher depreciation expenses may have offset some upsides.
Utilities have underperformed the market, creating a buying opportunity for investors. There is an even greater discount for individual stocks when compared to the utility ETF XLU.