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Evergy's Q2'19 adjusted earnings beat estimates

Evergy Inc. on Aug. 7 posted second-quarter non-GAAP adjusted earnings of $140.3 million, or 58 cents per diluted share, compared to $179.1 million, or 67 cents per diluted share, in the same period in 2018.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was 56 cents.

Pro forma net income attributable to the company totaled $139.7 million, or 57 cents per diluted share, compared to $243.7 million, or 90 cents per diluted share, in the second quarter of 2018.

Earnings for the quarter were driven by the inclusion of Kansas City Power & Light Co. and KCP&L Greater Missouri Operations Co. results in 2019, and lower operating expenses, offset by unfavorable weather and higher depreciation expense.

Evergy reaffirmed its 2019 adjusted earnings guidance in the range of $2.80 to $3.00 per share.