Evergy (NYSE: EVRG) reported Q4 EPS of $0.08, versus $0.25 reported last year.

• Full year 2018 earnings of $536 million, or $2.50 per share, compared with earnings of $324 million, or $2.27 per share, for the full year 2017.
• For the fourth quarter 2018, earnings were $19 million, or $0.07 per share, compared with earnings of $34 million, or $0.24 per share, for the fourth quarter of 2017.
• In June 2018, Westar Energy, Inc. (Westar Energy) and Great Plains Energy, the parent company of Kansas City Power & Light (KCP&L) and KCP&L Greater Missouri Operations (GMO), completed their merger to create Evergy.
• Evergy’s 2018 fourth quarter earnings include Westar Energy, KCP&L and GMO earnings for the entire quarter. Comparison to 2017 earnings are based on Westar Energy’s earnings for that period.
• The earnings increase in 2018 compared to 2017 was primarily due to the inclusion of KCP&L and GMO earnings, higher Westar retail sales, driven by favorable weather, and lower income tax expense, partially offset by merger related costs and customer bill credits following the close of the merger.
• Evergy announced full year 2018 pro forma earnings of $714 million, or $2.67 per share, which reflect the consolidated results of operations of Evergy as if the merger had taken place on January 1, 2017, and exclude non-recurring merger-related costs, compared with 2017 pro forma earnings of $469 million, or $1.73 per share. For the fourth quarter 2018, pro forma earnings were $20 million, or $0.08 per share, compared with a loss of $69 million, or $0.25 per share, for the fourth quarter of 2017.
• Increased sales, due primarily to favorable weather, and lower income tax expense contributed to the year-over-year increase in pro forma earnings.

“2018 was a successful year by all accounts,” said Terry Bassham, Evergy president and chief executive officer. “We successfully completed each of our regulatory proceedings, delivered on commitments made throughout the merger process, and started to rebalance our capital structure through the initiation of our share repurchase program. Our team’s dedication and hard work is reflected in our 2018 financial and operational results.”

For earnings history and earnings-related data on Evergy (EVRG) click here.