Evergy Announces 2021 Second Quarter Earning Results

 

 

  • GAAP EPS of $0.81; Adjusted EPS (Non-GAAP) of $0.85
  • Declares quarterly dividend of $0.535
  • Reaffirms 2021 adjusted earnings guidance

 

Kansas City, Mo., August 5, 2021 – Evergy, Inc. (NYSE: EVRG) today announced second quarter 2021 earnings of $185 million, or $0.81 per share, compared with earnings of $133 million, or $0.59 per share, for the second quarter of 2020.

 

Evergy’s adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) were

$195 million and $0.85, respectively, in the second quarter of 2021 compared with $154 million and

$0.68, respectively, in the second 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.

 

Second quarter earnings per share were driven higher primarily by higher weather-normalized demand, higher transmission margin, lower operating and maintenance expense and higher other income, partially offset by unfavorable weather.

 

“Strong financial and operational execution allowed our team to deliver solid results in the first half of the year.  We also completed a number of significant milestones, including the announcement of our Integrated Resource Plan (IRP), which outlines and accelerates the company’s carbon reduction timeline, the completion of Sustainability Transformation Plan workshops in both Kansas and Missouri, and the passage of securitization legislation in both states,” said David Campbell, Evergy president and chief executive officer. “We will remain focused on execution in order to capitalize on this strong momentum.”

 

Earnings Guidance

 

The Company has reaffirmed its 2021 adjusted EPS guidance range of $3.20 to $3.40 and long-term adjusted EPS annual growth target of 6% to 8% from 2019 through 2024.

 

Dividend Declaration

 

The Board of Directors declared a dividend on the Company’s common stock of $0.535 per share

payable on September 20, 2021. The dividends are payable to shareholders of record as of August 20, 2021.

 

Earnings Conference Call

 

Evergy management will host a conference call Thursday, August 5, with the investment community at 8:00 a.m. ET (7:00 a.m. CT). Investors, media and the public may listen to the conference call by

dialing (888) 353-7071, conference ID 3065454. A webcast of the live conference call will be

available at http://investors.evergy.com.

 

Members of the media are invited to listen to the conference call and then contact Gina Penzig with

any follow-up questions.

 

This earnings announcement, a package of detailed second-quarter financial information, the

Company’s quarterly report on Form 10-Q for the period ended June 30, 2021 and other filings the

Company has made with the Securities and Exchange Commission are available on the Company’s

website at http://investors.evergy.com.

 

Adjusted Earnings (non-GAAP) and Adjusted Earnings Per Share (non-GAAP)

 

Adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) exclude the income or costs resulting from non-regulated energy marketing margins from the February 2021 winter weather event, and costs resulting from executive transition, severance, advisor expenses and the revaluation of deferred tax assets and liabilities from the Kansas corporate income tax rate change. This information is intended to enhance an investor’s overall understanding of results.  Management believes that adjusted earnings (non-GAAP) provide a meaningful basis for evaluating Evergy’s operations across periods because it excludes certain items that management does not believe are indicative of Evergy’s ongoing performance. Adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) are used internally to measure performance against budget and in reports for management and the Evergy Board of Directors. Adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) are financial measures that are not calculated in accordance with GAAP and may not be comparable to other companies’ presentations or more useful than the GAAP information provided elsewhere in this report.

 

The following tables provide a reconciliation between net income attributable to Evergy, Inc. and diluted earnings per common share as determined in accordance with GAAP and adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP).

 

Evergy, Inc

Consolidated Earnings and Diluted Earnings Per Share

(Unaudited)

 

Earnings (Loss)

 

Earnings (Loss) per Diluted Share

 

Earnings (Loss)

 

Earnings (Loss) per Diluted Share

Three Months Ended June 30

2021

 

2020

 

(millions, except per share amounts)

Net income attributable to Evergy, Inc. $

185.3

  $

0.81

  $

133.4

  $

0.59

Non-GAAP reconciling items:              
Non-regulated energy marketing margin related to February 2021

winter weather event, pre-tax(a)

1.5

 

0.01

 

 

Non-regulated energy marketing costs related to February 2021

winter weather event, pre-tax(b)

2.0

 

0.01

 

 

Executive transition costs, pre-tax(c)

1.8

 

0.01

 

              —
Severance costs, pre-tax(d)

1.2

 

 

(0.4)

 

Advisor expenses, pre-tax(e)

5.7

 

0.02

 

9.8

 

0.04

Income tax benefit(f)

(2.4)

 

(0.01)

 

(2.4)

 

(0.01)

Kansas corporate income tax change(g)

 

 

13.8

 

0.06

Adjusted earnings (non-GAAP) $

195.1

  $

0.85

  $

154.2

  $

0.68

 

Earnings (Loss)

 

Earnings (Loss) per Diluted Share

 

Earnings (Loss)

 

Earnings (Loss) per Diluted Share

Year to Date June 30

2021

 

2020

 

(millions, except per share amounts)

Net income attributable to Evergy, Inc. $

376.9

  $

1.65

  $

202.8

  $

0.89

Non-GAAP reconciling items:              
Non-regulated energy marketing margin related to February 2021

winter weather event, pre-tax(a)

(95.0)

 

(0.42)

 

 

Non-regulated energy marketing costs related to February 2021

winter weather event, pre-tax(b)

4.0

 

0.02

Building For Lease at US 69 and National Ave.

BUILDING FOR LEASE IN FORT SCOTT
LEASE AS ONE SITE OR
EACH BUILDING SEPARATE
PRIME LOCATION – US 69 & NATIONAL AVE.
Contact Bill Brittain for more information
on this property at 620-224-8657
or click here to email Bill.
The site was most recently used as the location
of the Bourbon County Cars dealership
for the past 8 years, and they relocated to an adjacent property they purchased.
Great Visibility * Highway Traffic
KDOT reports daily traffic counts at this
location as 8,830 vehicles in 2020.
See additional pictures below.
THANK YOU TO OUR CHAMBER BOOSTERS BELOW FOR THEIR
PREMIUM SUPPORT ANNUALLY OF THE WORK OF THE CHAMBER
FOR FORT SCOTT/BOURBON COUNTY!

RSVP Part 2 by Patty LaRoche

Patty LaRoche

Several years ago, Nicole Contos was scheduled to be married in a Manhattan church.

She showed up, 250 invited guests showed up, but the groom didn’t. He took off for Tahiti, the intended honeymoon location. So, there she was with a $100,000 reception and no wedding. What did she do?

She did the same thing the king in Matthew 22 did when his son’s reception didn’t turn out as planned. She said, “The food is ready, the drink is ready. We’re gonna have a party. And she did.” Last week, we looked at Jesus’ parable of a wedding ceremony in which a king’s invited guests opted not to come to his son’s marriage feast and killed the servants who came looking for the no-shows. Not a smart plan, since the king had an army at his disposal and sent it to annihilate the killers. (Not exactly a memorable marriage moment.) The parable doesn’t end there, however. The king then sent word for anyone and everyone to come and fill the seats for the banquet, and come they did.

Every down-and-out, every castle cast-off, came running.

But this is where the story turns wacky. The king, checking on his guests, noticed a man “who did not have on a wedding garment.” When asked why, the guest remained mute. “Then the king said to the servants, ’Bind him hand and foot, take him away, and cast him into outer darkness; there will be weeping and gnashing of teeth.’ For many are called, but few are chosen.” (Matthew 22:11-14). A little over-kill, perhaps?

Tell me your heart doesn’t ache for the poor man. I mean, perhaps he had no fine clothes. Did his last-minute invitation come with a “formal attire” heads-up? Did everyone else have time to run home, sponge off in the Jordan River and don sequined togas?

I’m guessing not.

So, why is this guy singled out? Commentators write that none of these eleventh-hour invitees would have had appropriate clothing. The king would have supplied the guests’ apparel; all they had to do was to put it on. But this guy wouldn’t even do that much. He decided to come on his own terms instead of submitting to the king’s wishes.

Jesus’ point is well taken. The Jews—listening to Jesus as he spoke– had plenty of opportunities to R.S.V.P. favorably to God’s invitation to follow His commandments. God even sent His son, Jesus, but most of the Jews refused to believe that he was the Messiah. They said they would obey. They didn’t.

We’ve all met them. God has invited our neighbors, friends and relatives to be a part of His kingdom feast, yet they choose to remain spiritually sloppy. Most can’t find the time to participate, and many who come fail to completely submit. But are we just as guilty? Do we daily respond to God’s prodding, to serve Him before ourselves, to maintain the same enthusiasm we had when we first answered His call, to live up to kingdom standards? “Many are called but few are chosen.”

The choice is ours to make.

Kansas Advisory For Blue-Green Algae

Public Health Advisories for Kansas Lakes Due to Blue-Green Algae

TOPEKA – The Kansas Department of Health and Environment (KDHE) and the Kansas Department of Wildlife and Parks (KDWP) has issued several public health advisories for Kansas lakes due to blue-green algae.

Active Advisories

 

Warning

Gathering Pond at Milford, Geary County

Milford Lake Zones A and C, Geary County (Zone A upgraded 8/5)

Harvey County East Lake, Harvey County

South Lake, Johnson County (upgraded 8/5)

Altamont City Lake “Idle Hour” Main Lake, Labette County

Marion County Lake, Marion County

Melvern Outlet Pond, Osage County

Melvern Outlet Swim Pond, Osage County

Webster Reservoir, Rooks County

Jerry Ivey Pond, Saline County

Hargis Lake, Sumner County

 

Watch

Brown State Fishing Lake, Brown County

Pony Creek Lake, Brown County

Milford Lake Zone B, Geary County

Altamont City Lake “Idle Hour” North Lake, Labette County

Big Hill Lake, Labette County

Parsons Lake, Labette County

Marion Reservoir, Marion County

Neosho County State Fishing Lake, Neosho County (new)

Overbook City Lake, Osage County

Buhler City Lake, Reno County (new)

Lake Afton, Sedgwick County (new)

Big Eleven Lake, Wyandotte County (downgraded 8/5)

 

Advisories Lifted 8/5/21

Mission Lake Horton, Brown County

Agra City Lake, Phillips County

 

When a warning is issued, KDHE recommends the following precautions be taken:

  • Lake water is not safe to drink for pets or livestock.
  • Lake water, regardless of blue-green algae status, should never be consumed by humans.
  • Water contact should be avoided.
  • Fish may be eaten if they are rinsed with clean water and only the fillet portion is consumed, while all other parts are discarded.
  • Do not allow pets to eat dried algae.
  • If lake water contacts skin, wash with clean water as soon as possible.
  • Avoid areas of visible algae accumulation.

A watch means that blue-green algae have been detected and a harmful algal bloom is present or likely to develop. People are encouraged to avoid areas of algae accumulation and keep pets and livestock away from the water.

During the watch status, KDHE recommends the following precautions be taken:

  • Signage will be posted at all public access locations.
  • Water may be unsafe for humans/animals.
  • Avoid areas of algae accumulation and do not let people/pets eat dried algae or drink contaminated water.
  • Swimming, wading, skiing and jet skiing are discouraged near visible blooms.
  • Boating and fishing are safe. However, inhalation of the spray may affect some individuals. Avoid direct contact with water, and wash with clean water after any contact.
  • Clean fish well with potable water and eat fillet portion only.

KDHE investigates publicly-accessible bodies of water for blue-green algae when the agency receives reports of potential algae blooms in Kansas lakes. Based on credible field observation and sampling results, KDHE reports on potentially harmful conditions.

Signs of a possible bloom include if there is scum, a paint-like surface or the water is bright green, avoid contact and keep pets away. These are indications that a harmful bloom may be present. Pet owners should be aware that animals that swim in or drink water affected by a harmful algal bloom or eat dried algae along the shore may become seriously ill or die.

For information on blue-green algae and reporting potential harmful algal blooms, please visit www.kdheks.gov/algae-illness/index.htm.

###

 

Updated FS City Commission Meeting For Aug. 5

SPECIAL MEETING AGENDA
FORT SCOTT CITY COMMISSION
CITY HALL COMMISSION ROOM
123 S MAIN STREET
August 5, 2021
6:00 P.M.
I. ROLL CALL:
K. ALLEN P. ALLEN R NICHOLS L WATTS J. JONES
II. CONSIDERATION:
1. Discussion regarding Cooper, National & Horton Bids (Jason Dickman)
2. Approve Broker for Lake Lot Properties
3. Approve Broker for 4500 Campbell Drive
4. Executive Session
III. ADJOURN

Community Conversation on Kansans Can Succeed Aug. 16

Education officials announce
Kansans Can Success tour coming to 50 locations & Fort Scott is on the list!
Everyone, including educators, parents, legislators, members of the business community, and members of the media are invited to attend!
Kansas Commissioner of Education Dr. Randy Watson and Deputy Commissioner Dr. Brad Neuenswander are conducting 50 community conversations.
The Kansas State Board of Education’s outcomes for measuring progress toward achieving that vision were also derived from information gathered during the tour. Outcomes include social-emotional growth, kindergarten readiness, Individual Plan of Study, graduation, postsecondary success, and civic engagement.
Watson and Neuenswander will share success stories, as well as challenges, discuss the Kansans Can School Redesign Project, answer questions, and gather information during the tours.

FSCC Women’s Flag Football Recruitment Begins

Women’s Flag Football is coming to Fort Scott Community College.

“Flag football is an emerging sport which has gained popularity across the country in recent years,” Tom Havron, FSCC’s Athletic Director said.  “Many NAIA (National Association of Intercollegiate Athletics) schools in the region have started the programs, and FSCC is proud to be one of the founding members at the NJCAA level.”

“Flag football will be a female sport, consisting of 15-20 team  members,” he said. “We will have students at FSCC fall of 2022, but the inaugural season will be a spring sport starting in 2023.”

Tom Havron is the FSCC Athletic Director. Submitted photos.

“Women’s Flag Football has been a growing commodity across the nation and FSCC intends to provide an opportunity for these student-athletes to continue their passion for the sport while pursuing their education at the collegiate level.”

“Similar to the Fort Scott youth flag football program, the FSCC team will feature women who play the game at a high level,” he said.

“FSCC is currently recruiting students to start competition in the fall of 2022,” Havron said.

Flag football. Submitted photo.

 

“As flag football is an emerging sport, there are not many people who have much experience in the region,” Havron said.  “We have communicated with the area NAIA schools who have started the program in the past few years and hope to learn and grow with them.  FSCC was awarded a $10,000 grant from the NFL and NJCAA.  Part of this will be used to seek professional development activities for our coaching staff. ”

“We will practice on the FSCC campus at the turf field, and hope to play our games at Frary Field as well as other regional institutions,” he said.

 

Bourbon County Coalition Minutes of Aug. 4

Bourbon County Inter-Agency Coalition

General Membership Meeting Minutes

August 4, 2021

Click below to view the Bourbon County Coalition Resources Book

Bo Co Resource Book (1)

  1. Welcome: Billie Jo welcomed six members representing six agencies to the meeting. Following a brief discussion, consensus was that the Coalition would plan on a face-to-face meeting in September with the option of a Zoom meeting or combination meeting if Covid things change.
  1. Member Introductions and Announcements:

Michelle Worsley, SEK-CAP, noted that there are openings for the 0-3 and 3-5 homebased Head Start programs. These programs are income based and require that the workers go into the homes to work with the children.

Elizabeth Schafer, CASA and Feeding Families, shared that CASA court cases continue to be through Zoom. Feeding Families serves between 250-300 each week and will continue to be a drive-through service due to lack of space to seat such a large number of participants. Billie Jo added that the Monday Feeding Families at Community Christian Church will continue through the month of August.

Nancy Van Etten, American Red Cross, reminded members there is a blood drive scheduled for August 17 and 18 at Buck Run Community Center.

Holly Fritter, Bourbon County Health Department, noted that the “Mommy and Me” program will be held this month on August 25 at 3:00 p.m. at the Health Department. This month’s subject is breast feeding; the program is open to all mothers and pregnant ladies. They are always in need of diapers and will take donations at the Health Department. Members were reminded that The Beacon is always in need of diapers also.

Patty Simpson, Fort Scott Housing Authority, and Sandy Haggard, RSVP, shared how the Resident Advisory Board has teamed with RSVP to give back to the community. They have recently done a collection drive for toiletries and toys for DCF and first night bags for TFI. Patty also noted that the Housing Authority has a short waiting list for all types of apartments.

Mandi H-Woods, Kansas Children’s Service League, sent word that the Healthy Families is accepting families that speak Spanish at this time. She also reminded members to check KCSL.org for parenting tip cards, resources, and monthly training opportunities. 1-800-CHILDREN is a 24-hour parenting line available to all parents for support and resources.

  1. Program (no programs until September)

September program will be presented by Jody Hoener, Healthy Bourbon County.

  1. Open Forum: Billie Jo recently received an inquiry about the availability of a Bourbon County Resource Guide. A copy of the latest guide is being sent to Coalition members along with these minutes; however, there may be a more current guide available. If possible, a copy of the newer guide will be forwarded at a later date. Nancy also reminded members that Aunt Bertha.com is an excellent resource we can easily access.
  1. Adjournment: Next General Membership meeting will be September 1, 2021.

Bourbon County Local News