Kansas City, Missouri, January 29, 2026
Evergy, a key utility provider in Kansas City, discussed its fourth-quarter results, revealing adjusted earnings of $61.1 million. The company is focused on improving reliability, affordability, and sustainability, while executing a $17.5 billion five-year capital investment plan. Evergy’s commitment to the local economy, alongside strategic initiatives in infrastructure and community engagement, sets a positive outlook for future growth and development in the region.
Kansas City, MO – Evergy, a leading utility provider in Kansas and Missouri, recently held its conference call to discuss its fourth-quarter results for 2023. This event provided valuable insights into the company’s financial performance, strategic initiatives, and its ongoing commitment to fostering economic growth and stability across the region. As a cornerstone of the Kansas City MO business landscape, Evergy’s operational health and future plans are critical indicators for the broader Midlands economic growth.
Evergy Navigates Economic Headwinds, Focuses on Future Growth
The regular cadence of earnings calls, such as Evergy’s discussion of its fourth-quarter 2023 results, offers transparency into the operations of vital regional enterprises. These events allow companies to report on their performance, outlining both achievements and areas for improvement, and to share their vision for the future. For Kansas City and surrounding areas, the utility sector’s stability is fundamental to supporting everything from small-business resilience to large-scale industrial expansion.
Evergy, headquartered in Kansas City, Missouri, plays a significant role in providing essential services to approximately 1.7 million customers across Kansas and Missouri. The company’s recent performance and forward-looking strategies underscore a dedication to not only reliable energy delivery but also to actively contributing to the economic vitality of the communities it serves. This commitment aligns with the entrepreneurial spirit that drives growth in the region, recognizing that a robust infrastructure is the bedrock upon which businesses, both established and emerging, can thrive.
Key Financial Highlights from Q4 2023
For the fourth quarter of 2023, Evergy reported adjusted earnings of $61.1 million, or $0.27 per share. This marked a decrease from $68.6 million, or $0.30 per share, recorded in the fourth quarter of 2022. This reduction was primarily influenced by external factors, including a 14% decrease in heating degree days due to warmer-than-normal weather, which impacted energy consumption. Additionally, weather-normalized demand saw a 2.4% decline, driven by lower residential and industrial usage.
Despite these challenges, Evergy demonstrated strong operational management, achieving a $29.5 million decrease in adjusted Operations & Maintenance (O&M) expenses, reflecting the company’s ongoing pursuit of cost efficiencies. For the full year 2023, adjusted earnings per share stood at $3.54, compared to $3.71 in the previous year. The company’s leadership highlighted that the financial results for 2023 were affected by the prevailing higher interest rate environment and regulatory lag, alongside the mild weather patterns experienced late in the year.
Strategic Pillars and Operational Excellence
Evergy has consistently emphasized its strategic objectives of affordability, reliability, and sustainability. In 2023, the company made notable progress in these areas. It achieved a nearly 10% improvement in system reliability, as measured by the System Average Interruption Duration Index (SAIDI) and System Average Interruption Frequency Index (SAIFI). Such advancements in reliability are crucial for Missouri MO entrepreneurs and Kansas City small business owners who depend on consistent power to maintain their operations and serve their customers without interruption.
The company also expanded its energy portfolio with the addition of the Persimmon Creek wind farm and successfully navigated a Kansas rate case settlement, which aims to benefit customers and enhance regional rate competitiveness. These efforts reflect a proactive approach to modernizing infrastructure and ensuring a resilient energy supply, which is a vital component of the Midlands economic growth strategy.
Investing in the Region’s Future: Capital Plans and Economic Development
Looking ahead, Evergy has outlined an ambitious vision for future investment and growth. The company reaffirmed its long-term adjusted earnings per share annual growth target of 4% to 6% through 2026. More significantly, Evergy updated its five-year capital investment plan to $17.5 billion, projecting an 8.5% rate base growth through 2029. These substantial investments are designed to bolster electric infrastructure across its service territories, directly supporting Kansas and Missouri’s economic development.
A key driver for this increased investment is the higher expected annual load growth, projected at approximately 2% to 3% per year through 2029, a significant rise from the historical trend of 0.5% to 1.0%. This anticipated growth is largely fueled by major new investments from prominent companies such as Panasonic, Google, and Meta within Evergy’s service area. For Kansas City, MO business, the availability of robust and expanded utility infrastructure is a primary consideration for businesses looking to relocate or expand, and Evergy’s proactive approach positions the region favorably for future entrepreneurial endeavors and job creation.
In May 2024, Evergy filed its Integrated Resource Plan (IRP), which maps out the company’s strategy to meet customer electricity needs over the next two decades. This plan, influenced significantly by economic growth in the Evergy service area, includes the addition of 1,900 megawatts of generation beyond 2023 projections. The plan details a diverse energy portfolio, incorporating natural gas, solar, and wind resources, while also calling for the retirement of more than 4,500 megawatts of coal-based generation.
Community Engagement and Local Impact
Beyond financial statements and infrastructure projects, Evergy demonstrates a strong commitment to community involvement. The company’s 5,000 employees are active members of the communities they serve, including Kansas City. This local dedication is evident through various initiatives, such as employees volunteering more than 14,700 hours and donating over $649,000 to local non-profit organizations in 2024.
Evergy actively supports local businesses and workforce development through grants to career-exploration programs, partnerships with community colleges, and scholarships. The utility has also engaged in community partnerships like the installation of the largest in-stadium solar array in Major League Baseball at Kauffman Stadium with the Kansas City Royals, and serving as the official renewable energy supplier for the Kansas City Chiefs. Programs such as tree-planting with Bridging the Gap in the Kansas City Metro area further highlight Evergy’s dedication to environmental stewardship and local betterment.
The company’s economic development efforts have been recognized nationally, with Evergy receiving the Accredited Economic Development Organization (AEDO) designation in 2025. This accreditation underscores Evergy’s ability to drive growth through strategic relationships, investments, and collaborations, further benefiting the Kansas City small business sector and overall Midlands economic growth.
The Role of Regulation in Sustaining Growth
The ongoing dialogue surrounding regulatory frameworks for utilities is vital for ensuring long-term investment and stability. A balanced regulatory environment that encourages capital investment while protecting ratepayers is key to enabling utilities to modernize infrastructure and adopt new technologies. The ability of regulators to make credible long-term policy commitments can significantly influence a utility’s willingness to undertake major infrastructure projects, which, in turn, impacts the reliability and affordability of power for consumers and businesses alike. Approaches that mitigate “rate shock” and streamline access to capital can create a more predictable investment climate, fostering continued growth and innovation within the energy sector.
Conclusion
Evergy’s fourth-quarter results and strategic outlook present a picture of a company actively adapting to a dynamic energy landscape while remaining deeply invested in the prosperity of Kansas City and the wider region. Through prudent financial management, strategic infrastructure investments, and meaningful community engagement, Evergy continues to be a driving force for economic progress. Its commitment to affordability, reliability, and sustainability not only powers homes and businesses but also lays a strong foundation for future entrepreneurial innovation and sustained Midlands economic growth. Residents and business owners alike are encouraged to stay informed about Evergy’s initiatives and to engage in local economic development efforts, recognizing that a strong, collaborative community is Kansas City’s greatest asset.
Frequently Asked Questions
What were Evergy’s adjusted earnings for the fourth quarter of 2023?
For the fourth quarter of 2023, Evergy delivered adjusted earnings of $61.1 million, or $0.27 per share.
What factors contributed to the decrease in Evergy’s Q4 2023 adjusted earnings compared to the previous year?
The decrease was driven by a 14% decrease in heating degree days due to warmer-than-normal weather and a 2.4% decline in weather-normalized demand, primarily from lower residential and industrial demand.
What was Evergy’s full-year 2023 adjusted earnings per share?
Evergy’s full year 2023 adjusted earnings per share was $3.54.
What is Evergy’s updated five-year capital investment plan?
Evergy’s updated five-year capital investment plan is $17.5 billion, projecting an 8.5% rate base growth through 2029.
How does Evergy contribute to economic development in Kansas City and the surrounding region?
Evergy supports economic development through significant infrastructure investments, by attracting major new businesses, offering economic development discounts, and engaging in workforce development programs.
What are Evergy’s key strategic objectives?
Evergy’s key strategic objectives are affordability, reliability, and sustainability.
How many customers does Evergy serve?
Evergy serves approximately 1.7 million customers in Kansas and Missouri.
What is the purpose of Evergy’s Integrated Resource Plan (IRP)?
Evergy’s Integrated Resource Plan (IRP) outlines the company’s approach to meeting customer electricity needs over the next 20 years, driven by economic growth.
In what ways does Evergy engage with the local community?
Evergy engages with the local community through employee volunteerism, donations to non-profits, partnerships with local organizations like the Kansas City Royals and Chiefs, and support for educational and environmental initiatives.
What is the “Accredited Economic Development Organization (AEDO)” designation that Evergy received?
The AEDO designation recognizes Evergy’s ability to drive growth through strategy, relationships, investment, and collaboration in economic development.
Key Features of Evergy’s Performance and Outlook
| Feature | Description | Scope |
|---|---|---|
| Q4 2023 Adjusted Earnings | $61.1 million, or $0.27 per share (compared to $68.6 million, or $0.30 per share in Q4 2022) | Regional |
| Full-Year 2023 Adjusted EPS | $3.54 (compared to $3.71 in 2022) | Regional |
| Primary Factors for Earnings Decrease | 14% decrease in heating degree days and 2.4% decline in weather-normalized demand | Regional |
| Cost Efficiency Achieved | $29.5 million decrease in adjusted Operations & Maintenance (O&M) expenses | Regional |
| Updated Five-Year Capital Investment Plan | $17.5 billion, with projected 8.5% rate base growth through 2029 | State-level |
| Projected Annual Load Growth | 2% to 3% per year through 2029, driven by major industrial investments | State-level |
| Integrated Resource Plan (IRP) | Outlines approach to meet customer electricity needs over 20 years, includes 1,900 MW new generation | State-level |
| Customer Base | Approximately 1.7 million customers | State-level |
| Accredited Economic Development Organization (AEDO) | Received in 2025, recognizing role in driving economic growth | Nationwide |
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Author: STAFF HERE KANSAS CITY WRITER
The KANSAS CITY STAFF WRITER represents the experienced team at HEREKansasCity.com, your go-to source for actionable local news and information in Kansas City, Jackson County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as American Royal World Series of Barbecue, Dia De Los Muertos, and Planet Anime Kansas City. Our coverage extends to key organizations like the Greater Kansas City Chamber of Commerce and United Way of Greater Kansas City, plus leading businesses in healthcare, finance, and entertainment that power the local economy such as Children's Mercy Hospital, Government Employees Health Association, and AMC Entertainment. As part of the broader HERE network, including HEREStLouis.com, we provide comprehensive, credible insights into Missouri's dynamic landscape.
