Earnings release
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NEWS RELEASE FOR IMMEDIATE RELEASE >>> evergy Evergy Announces Third Quarter 2021 Results • • Third quarter 2021 GAAP EPS of $ 1.95 ; Adjusted EPS ( Non - GAAP ) of $ 1.98 Increasing quarterly dividend 7 % , to $ 0.5725 per share , annualized to $ 2.29 Raising and narrowing 2021 GAAP EPS Guidance to $ 3.71 to $ 3.81 ; Adjusted EPS Guidance to $ 3.50 to $ 3.60 . - KANSAS CITY , MO . , November 3 , 2021 – Evergy , Inc. ( NYSE : EVRG ) today announced third quarter 2021 earnings of $ 449 million , or $ 1.95 per share , compared with earnings of $ 365 million , or $ 1.60 per share , for the third quarter of 2020 . Evergy's adjusted earnings ( non - GAAP ) and adjusted earnings per share ( non - GAAP ) were $ 455 million and $ 1.98 per share , respectively , in the third quarter of 2021 compared with $ 393 million and $ 1.73 per share , respectively , in the third quarter of 2020. Adjusted earnings ( non- GAAP ) and adjusted earnings per share ( non - GAAP ) are reconciled to GAAP earnings in the financial table included in this release . Third quarter earnings per share were driven higher primarily by higher retail sales from warmer weather , increased transmission margin , higher other income , and lower income tax expense , partially offset by a decrease in weather - normalized demand . " We continue to execute on all elements of our strategy , including investment in energy infrastructure and disciplined cost management . This execution and favorable sales in the third quarter , driven primarily by warm weather , have allowed us to raise and narrow our 2021 adjusted earnings guidance range to $ 3.50 to $ 3.60 per share from $ 3.20 to $ 3.40 . We are also increasing our fourth quarter dividend by seven percent , reflecting confidence in the outlook of our business . " said David Campbell , Evergy president and chief executive officer . " As we look ahead , we will remain focused on executing our strategy and delivering benefits to all of our stakeholders . " Earnings Guidance The Company raised and narrowed its 2021 adjusted EPS guidance range to $ 3.50 to $ 3.60 from its original guidance range of $ 3.20 to $ 3.40 . The Company affirmed its 2022 adjusted EPS guidance range of $ 3.43 to $ 3.63 , as well as its long - term adjusted EPS annual growth target of 6 % to 8 % through 2025 from the $ 3.30 midpoint of the original 2021 adjusted EPS guidance range . Dividend Declaration The Board of Directors declared a dividend on the Company's common stock of $ 0.5725 per share payable on December 20 , 2021. The dividends are payable to shareholders of record as of November 19 , 2021 . Earnings Conference Call Evergy management will host a conference call Wednesday , November 3 , with the investment community at 9:00 a.m. ET ( 8:00 a.m. CT ) . Investors , media and the public may listen to the investors.evergy.com Public