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The Artificers In MayHappy May! Check out the calendar below for all the classes and events happening in May |
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Artist Opening ReceptionMaster ArtistLorrie Fowler, Fluid ArtistGuest ArtistIssac Fowler, Oil & Acrylic Painter |
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Evergy Announces First Quarter 2023 Results
Evergy Announces First Quarter 2023 Results, Declares Quarterly Dividend and Reaffirms 2023 Guidance
- First Quarter 2023 GAAP EPS of $0.62, compared to $0.53 in 2022
- First Quarter 2023 Adjusted EPS (Non-GAAP) of $0.59, compared to $0.56 in 2022
- Declares quarterly dividend of $0.6125 per share
- 2023 GAAP EPS guidance of $3.55 to $3.75; Reaffirms 2023 Adjusted EPS (Non-GAAP) guidance of $3.55 to $3.75
Kansas City, Mo., May 5, 2023 – Evergy, Inc. (NASDAQ: EVRG) today announced first quarter 2023 GAAP earnings of $143 million, or $0.62 per share, compared to GAAP earnings of $123 million, or $0.53 per share, for first quarter 2022.
Evergy’s first quarter 2023 adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) were $136 million and $0.59, respectively, compared to $130 million and $0.56 in 2022. Adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) are reconciled to GAAP earnings in the financial table included in this release.
First quarter adjusted earnings (non-GAAP) per share were driven by higher weather-normalized demand, lower operations and maintenance expense, and higher transmission margin, partially offset by unfavorable weather, higher depreciation and amortization expense, and higher interest expense.
“A solid start to the year keeps us on pace to achieve our 2023 targets,” said David Campbell, Evergy president and chief executive officer. “We formed Evergy with a focus on reducing costs, investing in beneficial infrastructure, and making rates more affordable and competitive. Over the past five years, we have made significant progress in advancing each of those goals. As part of our rate filing last month, we seek to share those cost savings and recover investments made to improve the electric grid and build a smarter, more reliable energy future for our Kansas customers.”
Earnings Guidance
The Company reaffirmed its 2023 GAAP EPS guidance range of $3.55 to $3.75, along with its 2023 adjusted EPS (Non-GAAP) guidance range of $3.55 to $3.75. Additionally, the Company reaffirmed its long-term adjusted EPS (Non-GAAP) annual growth target of 6% to 8% through 2025 from the $3.30 midpoint of the original 2021 adjusted EPS (Non-GAAP) guidance range. Adjusted EPS (non-GAAP) guidance is reconciled to GAAP EPS guidance in the financial table included in this release.
Dividend Declaration
The Board of Directors declared a dividend on the Company’s common stock of $0.6125 per share payable on June 20, 2023. The dividends are payable to shareholders of record as of May 19, 2023.
Earnings Conference Call
Evergy management will host a conference call Friday, May 5, with the investment community at 9:00 a.m. ET (8:00 a.m. CT). To view the webcast and presentation slides, please go to investors.evergy.com. To access via phone, investors and analysts will need to register using this link where they will be provided a phone number and access code.
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 first quarter financial information, the Company’s quarterly report on Form 10-Q for the period ended March 31, 2023, 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)
Management believes that adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) are representative measures of Evergy’s recurring earnings, assist in the comparability of results and are consistent with how management reviews performance. Evergy’s adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) for the three months ended March 31, 2022 have been recast, as applicable, to conform to the current year presentation.
Evergy’s adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) for the three months ended March 31, 2023 were $136.1 million or $0.59 per share. For the three months ended March 31, 2022, Evergy’s adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) were $129.9 million or $0.56 per share.
In addition to net income attributable to Evergy, Inc. and diluted EPS, Evergy’s management uses adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) to evaluate earnings and EPS without i.) the costs resulting from non-regulated energy marketing margins from the February 2021 winter weather event; ii.) gains or losses related to equity investments subject to a restriction on sale; iii.) the revenues collected from customers for the return on investment of the retired Sibley Station in 2022 for future refunds to customers; iv.) the mark-to-market impacts of economic hedges related to Evergy Kansas Central’s non-regulated 8% ownership share of Jeffrey Energy Center (JEC); and v.) the transmission revenues collected from customers in 2022 through Evergy Kansas Central’s FERC transmission formula rate (TFR) to be refunded to customers in accordance with a December 2022 FERC order.
Adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) are intended to aid an investor’s overall understanding of results. Management believes that adjusted earnings (non-GAAP) provides 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 or that can create period to period earnings volatility.
Adjusted earnings (non-GAAP) and adjusted EPS (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 EPS (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.
Evergy, Inc
Consolidated Earnings and Diluted Earnings Per Share
(Unaudited)
|
Earnings (Loss) |
Earnings (Loss) per Diluted Share |
Earnings (Loss) |
Earnings (Loss) per Diluted Share |
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| Three Months Ended March 31 |
2023 |
2022 |
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(millions, except per share amounts) |
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| Net income attributable to Evergy, Inc. |
$ 142.6 |
$ 0.62 |
$ 122.5 |
$ 0.53 |
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| Non-GAAP reconciling items: | |||||||
| Sibley Station return on investment, pre-tax(a) |
— |
— |
(3.1) |
(0.01) |
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| Mark-to-market impact of JEC economic hedges, pre-tax(b) |
(8.4) |
(0.04) |
— |
— |
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| Non-regulated energy marketing costs related to February 2021 winter weather event, pre-tax(c) |
0.1 |
— |
0.3 |
— |
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| Restricted equity investment losses, pre-tax(d) |
— |
— |
14.2 |
0.06 |
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| TFR refund, pre-tax(e) |
— |
— |
(1.9) |
(0.01) |
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| Income tax (benefit) expense (f) |
1.8 |
0.01 |
(2.1) |
(0.01) |
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| Adjusted earnings (non-GAAP) |
$ 136.1 |
$ 0.59 |
$ 129.9 |
$ 0.56 |
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- Reflects revenues collected from customers for the return on investment of the retired Sibley Station in 2022 that are included in operating revenues on the consolidated statements of comprehensive income.
- Reflects mark-to-market gains or losses related to forward contracts for natural gas and electricity entered into as economic hedges against fuel price volatility related to Evergy Kansas Central’s non-regulated 8% ownership share of JEC that are included in operating revenues on the consolidated statements of comprehensive income.
- Reflects non-regulated energy marketing incentive compensation costs related to the February 2021 winter weather event that are included in operating and maintenance expense on the consolidated statements of comprehensive income.
- Reflects losses related to equity investments which were subject to a restriction on sale that are included in investment earnings on the consolidated statements of comprehensive income.
- Reflects transmission revenues collected from customers in 2022 through Evergy Kansas Central’s FERC TFR to be refunded to customers in accordance with a December 2022 FERC order that are included in operating revenues on the consolidated statements of comprehensive income.
- Reflects an income tax effect calculated at a statutory rate of approximately 22%.
GAAP to Non-GAAP Earnings Guidance
|
Original 2021 Guidance |
2023 Guidance |
|
| Net income attributable to Evergy, Inc. |
$3.14 – $3.34 |
$3.55 – $3.75 |
| Non-GAAP reconciling items: |
|
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| Advisor expense, pre-tax(a) |
0.05 |
– |
| Executive transition cost, pre-tax(b) |
0.03 |
– |
| Income tax benefit(c) |
(0.02) |
– |
| Adjusted earnings (non-GAAP) |
$3.20 – $3.40 |
$3.55 – $3.75 |
- Reflects our advisor expense incurred associated with strategic planning.
- Reflects costs associated with certain executive transition costs at the Evergy Companies.
- Reflects an income tax effect calculated at a statutory rate of approximately 26% with the exception of certain non-deductible items.
About Evergy
Evergy, Inc. (NASDAQ: EVRG), serves 1.7 million customers in Kansas and Missouri. Evergy’s mission is to empower a better future. Our focus remains on producing, transmitting and delivering reliable, affordable, and sustainable energy for the benefit of our stakeholders. Today, about half of Evergy’s power comes from carbon-free sources, creating more reliable energy with less impact to the environment. We value innovation and adaptability to give our customers better ways to manage their energy use, to create a safe, diverse and inclusive workplace for our employees, and to add value for our investors. Headquartered in Kansas City, our employees are active members of the communities we serve.
For more information about Evergy, visit us at http://investors.evergy.com.
Uniontown FFA Meat Evaluation Team is the State Runner-Up
The Uniontown FFA Meat Evaluation Team was recently named as the State Runner-Up team at the Kansas FFA State Meat Evaluation contest held in Manhattan, Kansas on April 30th. With their 2nd place finish at the state competition, Uniontown FFA will represent Kansas FFA at the 2024 National Western Stock Show Meat Judging contest held in Denver, Colorado in January.
The team was led by Byron Fry, who ranked as the 2nd High Individual overall and Addisyn Hall who finished in 5th place individually. Brycen Stewart ended up in 14th and Corrynn Atkins ranked 21st. All four of Uniontown’s team members are Juniors at Uniontown High School and will have the opportunity to return to the state contest next year.
This Runner-up finish for Uniontown FFA continues an impressive run of state contest rankings for the chapter. Over the past seven years Uniontown has been named the Champion Team Overall two times (2018 and 2021) and the Runner-up team three times (2017, 2019, 2023) in the Meat Evaluation contest. Additionally the chapter was the State Champion team at the Livestock Judging event in 2016 and 2019, the State Ritual contest in 2021 and the Leadership Information contest in 2019.
The team is coached by Uniontown High School Ag Teacher and FFA Advisor Scott Sutton who has been at Uniontown since the 2016-2017 school year.
Bo Co Coalition Minutes of May 3
Bourbon County Inter-Agency Coalition
General Membership Meeting Minutes
May 3, 2023
- Welcome: Twenty-four members representing twenty-one agencies attended. Billie Jo announced that a vacancy continues on the Board of Directors. She also noted that the Board had approved swim pass applications and would be notifying those recipients as soon as the new pool manager and pass regulations were in place.
- Member Introductions and Announcements:
- Billie Jo shared the following information from Vicky Wright, SEK Mental Health: May is Mental Health Month. They will be hosting their first annual “Spring into Summer Self-Care Fair,” on May 23, 5:00 p.m. – 8:00p.m., at the Fort Scott Middle School. Seventeen vendors are currently sign up to participate, but they continue to take registrations. This is a free event with the possibility of door prizes! Contact Vicki for further information: [email protected] or 620-212-9391.
- Kathy Romero and Travis Wilcoxen with Angels Care Home Health were first time members.
- Nick Johnson, USD 234 PreSchool Center: Round-Up will be held on Friday, May 5.
- Michelle Stevenson Fort Scott Early Childhood Program: Fourteen children are ready to exit her program, she now needs referrals!
- Maggie Young, CHC Tobacco Succession: The program will be starting next month for Bourbon County.
- Shana Willey, CHC Community Health Worker: Can help families and community members with applications and resources.
- Tammy Alcantar, Crawford County Health Department: Teen Pregnancy and Baby and Me Tobacco Free programs continue to be available in Fort Scott. Tammy also reminded members that the Bourbon County Community Baby Shower would be held on June 22, 10 a.m. until noon, at the County Health Department. Holly could still use donations of gifts for the mothers and babies.
- Patty Simpson, Fort Scott Housing Authority: All 190 units are currently full. There are already 25 on the waiting list but she is still taking applications.
- LeaKay Karleskint, K-State Research: She has several classes in progress with another to begin on May 18. LeaKay continues to look for partners who can supply space for her classes.
- Lisa Robertson, CHC COPE and Lindsey McNeil, KU: The “Diabetes Education Event” will be May 10, 5:00 p.m. at 104 N. National; a “ Self Care Mental Health Awareness” will be May 18 at HBCAT office. Contact Lisa for more information.
- Rachel Carpenter, HBCAT: Contact Rachel for grant opportunities.
- Cassidy Lutz, K-State Research: Will present “What the Tech?! Phone Safety for Parents” on May 31 at 104 N. National, at 5:30 p.m.
- Megan Smith and Amy Hagan, Family Resource Specialists with CHC: They strive to connect families with resources; Megan through the office setting and Amy in the homes.
- Christine Abbott, SEKWorks: Reminded members about Workshop Wednesdays which are 15 minute video/chats found on the website; Christine can send the QR code for those that are interested.
- Sydney Herring, Response Advocate with the Family Resource Center: Sydney works under a grant that keeps children in their homes as long as it is safe.
- Elizabeth Schafer, CASA and Kiwanis: These organizations need more volunteers.
- Sandy, RSVP: Sandy matches non-profits and volunteers. She noted that the Uniontown Teammate program is completing a successful two years. The next Red Cross Blood drive will be June 15/16 at Buck Run Community Center. Contact Sandy to volunteer for a two-hour shift.
- Allen Schellack, Compassionate Ministries/Salvation Army/Ministerial Alliance: Allen will be working again with Evergy to distribute fans; last year the program provided seventy fans for needy persons. Allen also informed the members that the Ministerial Alliance helps transients going through town by provided a night in a hotel and bus ticket as needed. Bus station now is in Fort Scott at Pete’s.
- Program: Bourbon County transportation program presented by COPE, LHEAT, and SEK-CAP. The June program will be an explanation of KanCare/Medicaid by Dawn Cubbison. April Jackson, Thrive Allen County, will present our August program.
Scott, Director of Transportation for SEK CAP, explained how the General Public Transportation works in other counties and what would be needed for the program to be implemented in Fort Scott and/or Bourbon County. This program would be 70% grant funded with 30% matching funds from county and city governments, local programs or grants, or private support or donations. Passengers would not be charged fares, but donations would be accepted, typically $1.00 per ride. Bourbon County demographics certainly confirm the need for such a service. Rachel Carpenter, HBCAT, will be working with SEK CAP toward the goal of implementation.
- Open Forum: Need monthly programs beginning in September. David Gillen, Beacon, was not able to attend the meeting but wanted members to know that he is looking for an Assistant Director. The job would require sixteen hours each week with an additional two hours on the third Thursday of each month; salary is $1,000 per month.
- Adjournment: Next General Membership meeting will be June 7, at 1:00 p.m.
Papa Don’s Celebrates Anniversary
Mother-daughter team of Sheila Rygmyr and Brita Bolton are the owners of Papa Don’s Pizza Restaurant in historic downtown Fort Scott.
They originally opened the business at 22 N. Main in March 1991 and after a break of several years reopened at 10 N. Main on May 2, 2011.
They strive to provide their community with all manner of food service.
“We actually do it all,” Brita said. “Not only dine-in and carry-out but also delivery, catering, online ordering and curbside. From pizza, pasta, salad bar, ice cream and deli sandwiches. Plus gluten-free and low carb is available.”
Hours of operation are Monday to Saturdays 10:30 a.m, to 8 p.m. and the first Sunday of every month 11a.m. to 3 p.m.
To contact the business: email at [email protected] or by phone 620.223.4171 or find them on Facebook Papa Don’s Pizza.
They currently have 15 employees that includes the owners.
The best part of being a small business owner in Fort Scott is “the local support from the community and surrounding schools that we cater lunches for every week,” Brita said.
FS Christian Heights School Annual Country Store This Saturday
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Letter to the Editor: Pete Allen
Fort Scott, “the Jewel of S/E Kansas
I got a feeling… everything’s ‘gonna be OK,
I got a feeling… the Old Fort is here to stay.
We got engineers to lead us,
We got grants to rebuild Wall Street,
Sewer and water lines and Horton Street
We got a 100-block-per-year street improvement program,
With a new heated and stirred asphalt emulsion tank.
We even got a brick crew leveling up the historic brick streets!
I got a feeling… everything’s ‘gonna be OK,
I got a feeling… the Old Fort is here to stay.
We got funds that stay in the right place,
We got 6 mil in the sewer account, and we got plans
To start rebuilding per our comprehensive plan.
We got beer sales on Sundays and
We no longer have to go to the line.
We now have a million or two in the lake account, (Skitch led the way)
With lake improvements on-going (new docks, beach improvements,
Campground and shelter house repairs).
We have funds in our parks account, with improvements on the horizon.
I got a feeling… everything’s ‘gonna be OK,
I got a feeling… the Old Fort is here to stay.
We got new city management (born and raised in FS),
And commissioners who make policy and hold everyone accountable.
We got a new school district superintendent, and soon-to-be new college pres.
We got a new truck route policy (with enforcement coming)
This is to keep the heavy trucks off our side streets.
Best of all, we have a new attitude! “We Can” instead of “We Can’t”!
We are doing it! Just look at the renovations going on downtown
And you will see! Citizens of Fort Scott… pat yourselves on the back.
We have just begun!
I got a feeling… everything’s ‘gonna be OK,
I got a feeling… the Old Fort is here to stay.
Pete Allen
5/4/2023
The Bourbon County Sheriff’s Office Daily Reports May 4
KDOT’s Active Transportation Plan focuses on increasing alternate ways to travel
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Perry’s Pork Rinds and Country Store: Special Breakfast and Lunch This Saturday
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FS City Commission Meeting May 4 at 4:30 p.m.
There will be a Special City Commission Meeting tomorrow, May 4, 2023, at 4:30PM at City Hall. They will be addressing a request for a temporary street closure for Prom on Saturday, May 6th. No formal agenda will be posted.
Brickstreet BBQ Opens
Brickstreet BBQ, at the corner of National Avenue and Oak Street opened yesterday with a Fort Scott Chamber of Commerce Ribbon Cutting.
Owners are Carissa and Alex Bowman.
In an interview, Carissa said they are looking forward to this new venture and “The challenge and excitement of starting something that Alex and I can build together.”
She said they are also looking forward to bringing more job opportunities to Fort Scott. They currently have 60 part-time and full time employees.
The service they will be providing to their community is “A sit-down restaurant experience with high quality smoked meats,” she said.
Brickstreet hours of operation are Tuesday-Thursday 11 a.m.- 9 p.m.; Friday-Saturday 11 a.m.- 10 p.m. Sunday 11 a.m. – 3 p.m.
Contact them at 620-224-2425 or on their Facebook page.
There was much gratitude expressed in the comments for the opening of this restaurant.
Carissa welcomed and thanked all the family and friends for the support they give.
Fort Scott Chamber of Commerce Chairperson Bailey Lyons told the attendees “Thanks for bringing barbecue back to Fort Scott.”
“May this place bring you much return on your investment,” Fort Scott Mayor Matthew Wells said.
