EVERGY INC Reports FY2023 Q2 Earnings Results as of June 30 2023
August 27, 2023
🌥️Earnings Overview
On August 4, 2023, EVERGY INC ($NASDAQ:EVRG) announced its fiscal year 2023 second-quarter financial results for the period ending June 30, 2023. Total revenue for the quarter was USD 1354.2 million, a 6.4% decrease from the same period in the previous year. Net income also declined year-over-year, amounting to USD 179.1 million, a 7.9% decrease.
Market Price
EVERGY INC, the American utility company, reported its FY2023 Q2 earnings results for the period ending June 30, 2023. On Friday, the stock opened at the price of $58.2 and closed at $57.3, a decrease of 1.8% from the previous closing price of $58.4. This decrease in stock price is attributed to the mixed results of EVERGY INC’s earnings report. This was welcomed news as the revenue increase exceeds the projected growth rate. Overall, investors reacted negatively to the report due to the lower than expected net income and EPS results.
However, many analysts believe that this is just a short term setback and that EVERGY INC’s long term plan for environmental sustainability and investments in clean energy will be beneficial in the long run. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Evergy Inc. More…
| Total Revenues | Net Income | Net Margin |
| 5.84k | 757.4 | 13.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Evergy Inc. More…
| Operations | Investing | Financing |
| 1.93k | -2.33k | 411.5 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Evergy Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 30.28k | 20.73k | 41.51 |
Key Ratios Snapshot
Some of the financial key ratios for Evergy Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 5.2% | 4.2% | 21.7% |
| FCF Margin | ROE | ROA |
| -3.9% | 8.3% | 2.6% |
Analysis
GoodWhale has conducted an in-depth analysis of the fundamentals of EVERGY INC. Our analysis shows that EVERGY INC is a low risk investment in terms of both financial and business aspects. We have detected two risk warnings in the company’s income sheet and balance sheet. If you want to take a closer look at these warnings, you can register on goodwhale.com and check out the detailed information. Our analysis shows that EVERGY INC is a safe bet for investors looking for a low risk investment. More…
Peers
Evergy Inc is one of the leading energy companies in the United States, alongside Pinnacle West Capital Corp, Dominion Energy Inc, and Manila Electric Co. These companies all specialize in providing electricity, natural gas, and other energy resources to millions of homes and businesses across the globe.
– Pinnacle West Capital Corp ($NYSE:PNW)
Pinnacle West Capital Corp is a publicly traded energy holding company headquartered in Phoenix, Arizona. The firm operates through its subsidiaries APS, an electric utility; Pinnacle West Energy Services, an energy services company; and SunCor Development, a real estate development company. As of 2023, Pinnacle West Capital Corp had a market cap of 8.54 billion dollars and a Return on Equity of 8.45%. This indicates the company is performing well and is seen as an attractive investment by the market. Pinnacle West Capital Corp’s subsidiaries provide services in Arizona including electric service, energy services and real estate development.
– Dominion Energy Inc ($NYSE:D)
Dominion Energy Inc is a diversified energy and energy services company with operations in the United States and Canada. It is one of the largest producers and transporters of energy in the US, with a market cap of 45.27B as of 2023. Its Return on Equity (ROE) for the same period stands at 4.42%. This indicates that the company is able to generate returns that are above the industry average by investing its shareholders’ capital efficiently and effectively. The company’s main focus is on the development, generation, transmission, distribution, and sale of electricity and natural gas. It has also ventured into renewable energy sources such as solar and wind energy.
– Manila Electric Co ($PSE:MER)
Manila Electric Co is the largest electric distributor in the Philippines. With a market capitalization of 358.19 billion as of 2023, the company has established itself as a leader in the energy sector. Furthermore, its impressive Return on Equity of 23.73% demonstrates the company’s strong financial performance and indicates a healthy degree of profitability. In addition to providing electricity to residential and commercial customers, the company also offers a number of other related services such as meter reading, billing, collection, and engineering services.
Summary
EVERGY INC reported their FY2023 Q2 earnings results on August 4 2023. Total revenue for the quarter fell 6.4% year-over-year to USD 1354.2 million, while net income declined 7.9% to USD 179.1 million. These results may indicate a challenge for EVERGY investors, as the company’s performance is down from the same period last year.
However, it is important to note that these numbers may not represent the entire picture, as the company may have other projects in the works that could contribute to a better financial outlook in the future. Investors should monitor the progress of these projects and assess how they may impact the company’s performance going forward.
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