Evergy (3E7) Q3 2026 Earnings Report
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DE:3E7 Q3 2026 EPS Results
- Actual EPS
- EUR 2.30
- Consensus EPS
- EUR 2.08
- Beat/Miss
- Beat by +EUR 0.22
- One Year Ago EPS
- EUR 1.81
DE:3E7 Q3 2026 Revenue Results
- Actual Revenue
- EUR 1.86B
- Expected Revenue
- EUR 1.72B
- Beat/Miss
- Beat by +EUR 139.71M
- YoY Revenue Growth
- +16.14%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/05/2026
- Time
- Before Open
- Conference Call
- Thursday, November 5, 2026
DE:3E7 Upcoming Earnings
Evergy's next earnings date is estimated for February 19, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
DE:3E7 Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive. Evergy reported higher earnings, raised 2026 EPS guidance, increased its dividend, delivered strong operational and demand results, and described substantial large-customer growth and capital-investment opportunities. The primary challenges were higher O&M, depreciation, and interest expense, weather-related earnings volatility, and the need for regulatory approvals, transmission studies, permitting, and executed agreements for several pipeline projects.
Company Guidance
Evergy raised 2026 adjusted EPS guidance to $4.35-$4.50 per share from $4.14-$4.34 per share, expects full-year results to exceed the top end of its annual guidance range, and reaffirmed long-term adjusted EPS growth of 6%-8% plus through 2030, measured from the original 2026 guidance midpoint of $4.24; it expects 2027 EPS growth in the 6%-8% range and adjusted EPS growth to exceed 8% annually beginning in 2028 and through 2030, with 9.5% EPS growth annually on average in those three years, retail demand growth of approximately 7%-8% annually through 2030, and 2026 weather-normalized retail demand growth of 3%-4%; the company’s $21.6 billion capital plan, including $22.5 billion of five-year CapEx through 2030, supports approximately 12% rate base CAGR through 2030, while projected FFO to debt is 14%-15% from 2026 to 2028, common equity issuance is approximately $700 million-$900 million annually through 2029, and the company expects to achieve a total of 5-7 GW of large load customer agreements.
- Third-Quarter Earnings GrowthThird-quarter 2026 adjusted earnings increased to $610 million, or $2.58 per share, from $475 million, or $2.03 per share, a year-over-year increase driven primarily by warmer weather, continued load growth, large-customer revenue, and recovery of regulated investments. Year-to-date adjusted earnings were $4.15 per share versus $3.41 per share a year ago.
- Raised 2026 Earnings GuidanceEvergy raised its 2026 adjusted EPS guidance to $4.35-$4.50 per share from $4.14-$4.34 per share and expects full-year results to exceed the top end of its prior annual guidance range. The updated outlook primarily reflects favorable weather in the third quarter and includes targeted O&M reliability investments during the fourth quarter.
- Long-Term EPS Growth Outlook ReaffirmedThe company reaffirmed its long-term adjusted EPS growth target of 6%-8% plus through 2030, measured from the original 2026 guidance midpoint of $4.24 per share. Evergy continues to expect adjusted EPS growth to exceed 8% beginning in 2028 and through 2030, with 2027 growth expected to be in the 6%-8% range.
- Dividend IncreaseEvergy announced a 4% increase in its quarterly dividend, bringing the annualized dividend to $2.89 per share. The increase is consistent with last year's increase and the company's objective of moving toward a 50%-60% payout ratio over time.
- Strong Operational PerformanceSafety, reliability, and generation availability were trending favorably to target. The generation team maintained reliable operations through hot weather and record peak demand for both Evergy and the Southwest Power Pool.
- Large-Customer Agreements ExpandedThree amendments to existing electric service agreements are expected to increase peak load by approximately 250 MW over the 2027-2030 period and beyond. The amendments announced during the call added approximately 110 MW of incremental peak load across two existing large-load agreements, while a third 140 MW expansion agreement remains contingent on a transmission study expected by year-end.
- Digital Realty Expansion OpportunityEvergy signed a letter of intent with Digital Realty for a 1.4 GW expansion adjacent to Digital Realty's existing 600 MW project with a signed ESA. The company expects to execute an ESA in the first half of 2027, and the projects would represent 2 GW of load with Digital Realty. Evergy anticipates approximately $4 billion of capital investment could be required to provide capacity for the 1.4 GW expansion, with the bulk of the ramp expected in 2030 and beyond.
- Growing Executed Large-Load BaseThe five executed large-load ESAs represent approximately 2.6 GW of steady-state peak load. Together with non-LLPS large customers, the projects are expected to require approximately 3.1 GW of peak load over time, with long-term minimum monthly bill provisions spanning 15-17 years.
- Large-Load Pipeline Provides Further UpsideEvergy cited approximately 2.0-2.5 GW of tier 1 expansion opportunities at or adjacent to existing customer sites, approximately 1-2 GW of tier 2 advanced discussions with new customers, and a remaining pipeline totaling well over 10 additional GW. The company continues to express high confidence in achieving 5-7 GW of large-load customer agreements.
- Expected Retail Load GrowthSigned ESAs and announced large customers are expected to support approximately 7%-8% annual retail demand growth through 2030. Aggregate large-customer demand is expected to increase from approximately 350-400 MW today to approximately 2,250 MW in 2030 and 3,100 MW post-2030 at its peak.
- Strong Weather-Normalized DemandThird-quarter weather-normalized retail demand increased 4.5%, including residential demand growth of 0.8%, commercial growth of 8.7%, and industrial growth of 3%. Year-to-date weather-normalized retail demand was up 3.7%, tracking within the company's full-year expectation of 3%-4%. Commercial growth reflected increased data-center usage, while industrial growth was driven primarily by Panasonic's continued ramp of operations.
- Regional Rate CompetitivenessSince 2017, Evergy's cumulative all-in rate change has been approximately 7%, compared with a 25% average for regional peers and 33% overall inflation. The company said electric rate increases have averaged 0.7% annually, reflecting merger-related scale benefits and cost savings.
- Missouri Metro Settlement ProgressEvergy reached a partial revenue-requirement settlement in its Missouri Metro rate review. If approved and based on the midpoint of staff's return-on-capital testimony, including a 9.7% return on equity and a 52% equity ratio, the revenue increase would be approximately $118 million before new large-load impacts. The LLPS-related settlement would provide approximately $60 million of net benefits from new large-customer revenues, resulting in a total net revenue increase of approximately $58 million.
- Customer Affordability BenefitsThe Missouri Metro agreement would deliver $6 million annually to reduce residential and industrial customer costs and includes an earnings-sharing mechanism under which customers would receive 65% of earnings above a specified level driven by large-load revenues. Evergy also cited approximately $61 million of large-load revenue offsets in its Missouri West rate-review filing.
- Expanded Regulatory Framework for Large LoadsEvergy filed a Kansas LLPS Customer Affordability Enhancement Plan that would add a vintage cost rider and nonrefundable advance payments. The company said these mechanisms would increase new large-load customers' financial contribution toward required investments while preserving commission oversight and affordability benefits for existing customers.
- Capital Plan and Rate-Base GrowthEvergy's $21.6 billion capital plan, together with approximately $1 billion of incremental investment from its 2026 IRP preferred plans, brings estimated five-year capital expenditures through 2030 to $22.5 billion. The company increased its projected rate-base CAGR through 2030 from 11.5% to approximately 12%.
- Financing ProgressEvergy has priced approximately $700 million of common equity through its ATM program, compared with a forecasted annual requirement of approximately $700 million-$900 million through 2029. The company said its remaining 2026 equity needs should be addressable through its existing or a potential replacement ATM program, while projected FFO to debt is expected to be in the range of 14%-15% from 2026 to 2028 and strengthen in 2029 and 2030.
- Generation and Grid Investment StrategyEvergy is advancing an all-of-the-above generation portfolio that includes efficient natural gas generation, solar resources, and battery storage. The company is also pursuing grid modernization, resiliency, new generation capacity, and transmission investments to support reliability, economic development, and load growth.
- Potential Transmission UpsideThe Southwest Power Pool's Integrated Transmission Plan includes approximately $20 billion of projects, with about $10 billion involving projects spanning Evergy's service territory. Evergy characterized this as long-term upside, primarily into the 2030s, and said it is not included in the current capital plan.
- Lower Expected Weather Sensitivity Over TimeManagement said the addition of higher-load-factor data-center customers should reduce Evergy's overall percentage sensitivity to weather because their usage is more consistent than the company's current mix, which includes a relatively high proportion of residential and commercial customers.
DE:3E7 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 19, 2027 | 2026 (Q4) | 0.36- | 0.37 | ― | ― |
| Nov 05, 2026 | 2026 (Q3) | 2.082.30 | 1.81 | 27.09% (+0.49) | |
| Aug 06, 2026 | 2026 (Q2) | 0.720.79 | 0.73 | 7.32% (+0.05) | |
| May 07, 2026 | 2026 (Q1) | 0.540.62 | 0.48 | 27.78% (+0.13) | |
| Feb 19, 2026 | 2025 (Q4) | 0.490.37 | 0.31 | 20.00% (+0.06) | |
| Nov 06, 2025 | 2025 (Q3) | 1.851.81 | 1.8 | 0.50% (+0.01) | |
| Aug 07, 2025 | 2025 (Q2) | 0.690.73 | 0.8 | -8.89% (-0.07) | |
| May 08, 2025 | 2025 (Q1) | 0.590.48 | 0.48 | 0.00% (+0.00) | |
| Feb 27, 2025 | 2024 (Q4) | 0.320.31 | 0.24 | 29.63% (+0.07) | |
| Nov 07, 2024 | 2024 (Q3) | 1.731.80 | 1.68 | 7.45% (+0.12) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed
