Evergy Posts Strong Q1 Earnings, Lands New Customer and Reaffirms 2026 Guidance

Evergy reported strong Q1 earnings with a surprise earnings per share (EPS) number of $0.69 per share, beating FactSet estimates. The company also landed a new large customer and reaffirmed its 2026 EPS guidance. Additionally, the company declared a quarterly dividend and reaffirmed its 2026 revenue guidance.

EVRG delivered a standout first quarter, reporting adjusted EPS of $0.69 — beating FactSet consensus of $0.63 by $0.06 — on revenue of $1.44 billion, which surpassed analyst estimates of $1.27 billion. The results prompted management to reaffirm its 2026 adjusted EPS guidance range of $4.14 to $4.34 and establish a long-term annual EPS growth target of 6% to 8%+ through 2030, with growth expected to accelerate above 8% beginning in 2028.

The earnings beat is increasingly tied to Evergy's data center strategy. In February 2026, the company announced electric service agreements with four large data center customers totaling 1.9 gigawatts of potential load at full capacity, against a current system peak of approximately 11 gigawatts. CEO David Campbell noted that Evergy's economic development pipeline has grown to more than 15 gigawatts, reflecting surging demand from hyperscalers and AI infrastructure buildouts in the Kansas and Missouri service territories.

In addition to landing new large customers, Evergy declared a quarterly dividend and continues to advance its $2.8 billion grid modernization program to support the incremental load from data centers. The combination of rate base growth, new customer additions, and a regulated utility earnings floor positions Evergy for sustained above-utility-average growth — though execution risk on interconnection and transmission timelines remains a key variable for investors to monitor.

Related Stocks

EVRG