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Evergy's lower Q4 adjusted earnings top estimates; company sets 2021 guidancefrom SNL Energy Finance Daily Evergy's lower Q4 adjusted earnings top estimates; company sets 2021 guidanceByline: Nephele Kirong Evergy Inc. on Feb. 26 reported fourth-quarter 2020 adjusted earnings of $63.8 million, or 28 cents per share, down from $72.8 million, or 32 cents per share, in the year-ago period. The S&P Capital IQ consensus normalized earnings estimate for the 2020 fourth quarter was 25 cents per share. Net income attributable to the company was $51 million, or 22 cents per share, compared with $63.9 million, or 28 cents per share, in the prior-year period. For the full year, Evergy reported adjusted earnings of $705.5 million, or $3.10 per share, in 2020, an increase from $694.0 million, or $2.89 per share, in 2019. The S&P Capital IQ consensus normalized earnings estimate for 2020 was $3.04 per share. Net income attributable to the company dropped year over year to $618.3 million, or $2.72 per share, from $669.9 million, or $2.79 per share. Evergy announced full-year 2021 adjusted earnings guidance range of $3.20 per share to $3.40 per share and GAAP earnings guidance range of $3.14 per share to $3.34 per share. The guidance excludes expected positive impact of power marketing activities during the February extreme weather event. Evergy also updated its five-year capital plan to include $9.2 billion of infrastructure investments through 2025, compared to $8.9 billion through 2024. The company will pay a quarterly common stock dividend of 53.50 cents per share on March 22 to shareholders of record March 8. |
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