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Lower sales weigh on Westar's Q2 net income

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Essential Energy Insights - January 2021


Lower sales weigh on Westar's Q2 net income

Westar Energy Inc. on Aug. 8 reported second-quarter 2017 net income attributable to the company of $72.1 million, or 50 cents per share, slightly down from $72.3 million, or 51 cents per share, in the comparable period of 2016. The results fall below the S&P Capital IQ consensus normalized EPS estimate for the quarter of 57 cents.

"Lower earnings per share for the second quarter were driven by lower residential and commercial sales primarily due to milder weather this year compared to last year," the company said in an earnings release.

Westar's revenues for the quarter fell to $609.3 million from $621.4 million a year ago, while operating expenses also dipped, to $454.2 million from $467.8 million in the prior-year period. The company is scheduled to hold a conference call on Aug. 9 at 10:00 a.m. ET.