Evergy, Inc. (EVRG - Free Report) reported fourth-quarter 2019 operating earnings of 32 cents per share, improving a whopping 300% from the year-ago-quarter’s 8 cents. The upside in earnings was buoyed by positive impact of Evergy Metro and Evergy Missouri West results.
Earnings per share in 2019 were $2.89 per share, which was near the upper end of the guided range of $2.80-$3.00.
Total Revenues
Evergy’s total revenues came in at $1,131.6 million, missing the Zacks Consensus Estimate of $1,197.1 million by 5.5%. The top line also dropped 5.7% from the year-ago-quarter’s $1,200 million.
Highlights of the Release
Total operating expenses in the fourth quarter were $965.8 million, down 8% from the year-ago quarter’s $1,049.7 million owing to lower fuel and purchased power, along with operating and maintenance costs.
Interest and related charges in the reported quarter were $96.7 million, up 9.5% from the year-ago level.
In 2019, Evergy repurchased 29 million shares. Since the inception of the repurchase program, the company has bought back 45 million shares, as part of its 60-million share repurchase authorization.
Financial Update
Cash and cash equivalents as of Dec 31, 2019 were $23.2 million compared with $160.3 million in the corresponding period of 2018.
Long-term debt as of Dec 31, 2019 was $8,746.7 million compared with $6,636.3 million in the comparable period of 2018.
Cash from operating activities in 2019 was $1,749 million compared with $1,497.8 million in 2018.
Guidance
Evergy is increasing its five-year investment plan to $7.6 billion through 2024 versus the prior $6.1-billion five-year plan ending 2023.
Zacks Rank
Currently, Evergy has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Clearway Energy Inc. (CWEN - Free Report) reported fourth-quarter 2019 loss of 6 cents per share against the Zacks Consensus Estimate of earnings of 39 cents.
NextEra Energy Partners LP’s (NEP - Free Report) fourth-quarter 2019 earnings of 50 cents per unit surpassed the Zacks Consensus Estimate of 44 cents by 13.6%.
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Evergy, Inc. (EVRG - Free Report) reported fourth-quarter 2019 operating earnings of 32 cents per share, improving a whopping 300% from the year-ago-quarter’s 8 cents. The upside in earnings was buoyed by positive impact of Evergy Metro and Evergy Missouri West results.
Earnings per share in 2019 were $2.89 per share, which was near the upper end of the guided range of $2.80-$3.00.
Total Revenues
Evergy’s total revenues came in at $1,131.6 million, missing the Zacks Consensus Estimate of $1,197.1 million by 5.5%. The top line also dropped 5.7% from the year-ago-quarter’s $1,200 million.
Highlights of the Release
Total operating expenses in the fourth quarter were $965.8 million, down 8% from the year-ago quarter’s $1,049.7 million owing to lower fuel and purchased power, along with operating and maintenance costs.
Interest and related charges in the reported quarter were $96.7 million, up 9.5% from the year-ago level.
In 2019, Evergy repurchased 29 million shares. Since the inception of the repurchase program, the company has bought back 45 million shares, as part of its 60-million share repurchase authorization.
Financial Update
Cash and cash equivalents as of Dec 31, 2019 were $23.2 million compared with $160.3 million in the corresponding period of 2018.
Long-term debt as of Dec 31, 2019 was $8,746.7 million compared with $6,636.3 million in the comparable period of 2018.
Cash from operating activities in 2019 was $1,749 million compared with $1,497.8 million in 2018.
Guidance
Evergy is increasing its five-year investment plan to $7.6 billion through 2024 versus the prior $6.1-billion five-year plan ending 2023.
Zacks Rank
Currently, Evergy has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Releases
Covanta Holding Corp. reported fourth-quarter 2019 earnings of 9 cents per share, which beat the Zacks Consensus Estimate of 7 cents by 28.6%.
Clearway Energy Inc. (CWEN - Free Report) reported fourth-quarter 2019 loss of 6 cents per share against the Zacks Consensus Estimate of earnings of 39 cents.
NextEra Energy Partners LP’s (NEP - Free Report) fourth-quarter 2019 earnings of 50 cents per unit surpassed the Zacks Consensus Estimate of 44 cents by 13.6%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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