Evergy, Inc. (EVRG - Free Report) reported first-quarter 2020 operating earnings of 41 cents per share, beating the Zacks Consensus Estimate by a penny. The reported earnings were down 6.8% year over year due to unfavorable weather, which in turn reduced demand and lowered corporate-owned life insurance benefits.
GAAP earnings in the reported quarter were 31 cents compared with 39 cents in the year-ago period.
Total Revenues
Evergy’s total revenues came in at $1,117 million, missing the Zacks Consensus Estimate of $1,191 million by 6.2%. The top line also declined 8.2% from the year-ago-quarter’s $1,217 million.
Highlights of the Release
Total operating expenses were $919.2 million, down 8.8% from the year-ago quarter’s $1,007.3 million owing to lower fuel and purchased power, along with operating and maintenance costs.
Interest expenses in the reported quarter were $96.2 million, up 5.6% 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 under the 60-million share repurchase authorization. However, it did not repurchase any shares during the first quarter.
Financial Update
Cash and cash equivalents as of Mar 31, 2020 were $304.4 million compared with $23.2 million at 2019-end.
Long-term debt as of Mar 31, 2020 was $8,993.5 million compared with $8,746.7 million at 2019-end.
Cash from operating activities in first-quarter 2020 was $320.6 million compared with $362.1 million in the prior-year comparable period.
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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FirstEnergy Corporation (FE - Free Report) came up with first-quarter 2020 operating earnings of 66 cents per share, which beat the Zacks Consensus Estimate of 64 cents by 3.1%.
Dominion Energy Inc. (D - Free Report) reported first-quarter 2020 operating earnings of $1.09 per share, missing the Zacks Consensus Estimate by a penny.
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Evergy, Inc. (EVRG - Free Report) reported first-quarter 2020 operating earnings of 41 cents per share, beating the Zacks Consensus Estimate by a penny. The reported earnings were down 6.8% year over year due to unfavorable weather, which in turn reduced demand and lowered corporate-owned life insurance benefits.
GAAP earnings in the reported quarter were 31 cents compared with 39 cents in the year-ago period.
Total Revenues
Evergy’s total revenues came in at $1,117 million, missing the Zacks Consensus Estimate of $1,191 million by 6.2%. The top line also declined 8.2% from the year-ago-quarter’s $1,217 million.
Highlights of the Release
Total operating expenses were $919.2 million, down 8.8% from the year-ago quarter’s $1,007.3 million owing to lower fuel and purchased power, along with operating and maintenance costs.
Interest expenses in the reported quarter were $96.2 million, up 5.6% 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 under the 60-million share repurchase authorization. However, it did not repurchase any shares during the first quarter.
Financial Update
Cash and cash equivalents as of Mar 31, 2020 were $304.4 million compared with $23.2 million at 2019-end.
Long-term debt as of Mar 31, 2020 was $8,993.5 million compared with $8,746.7 million at 2019-end.
Cash from operating activities in first-quarter 2020 was $320.6 million compared with $362.1 million in the prior-year comparable period.
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
Xcel Energy Inc. (XEL - Free Report) posted first-quarter 2020 operating earnings of 56 cents per share, lagging the Zacks Consensus Estimate of 59 cents by 5.1%.
FirstEnergy Corporation (FE - Free Report) came up with first-quarter 2020 operating earnings of 66 cents per share, which beat the Zacks Consensus Estimate of 64 cents by 3.1%.
Dominion Energy Inc. (D - Free Report) reported first-quarter 2020 operating earnings of $1.09 per share, missing the Zacks Consensus Estimate by a penny.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
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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