In This Story
Evergy Inc. (EVRG-0.36%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing an increase in operating revenues to $1,811.4 million from $1,669.3 million in the same quarter the previous year. This increase is attributed to new retail rates and higher transmission revenues.
Fuel and purchased power expenses decreased to $433.7 million from $478.4 million, while SPP network transmission costs increased to $99.7 million from $75.4 million.
The company reported a gross margin of $752.4 million for the quarter, compared to $607.8 million in the previous year, with the increase driven by new retail rates and transmission revenues.
Operating and maintenance expenses were slightly reduced to $251.6 million from $253.2 million, while depreciation and amortization expenses increased to $282.3 million from $273.3 million.
Net income for the quarter was $468.6 million, up from $354.6 million in the previous year. After accounting for noncontrolling interests, net income attributable to Evergy, Inc. was $465.6 million, compared to $351.6 million in the previous year.
Cash provided by operating activities was $1,588.1 million, while cash used in investing and financing activities was $1,790.3 million and $231.2 million, respectively.
Evergy had a working capital of $1,990.2 million as of September 30, 2024. The company continues to focus on infrastructure investments and regulatory proceedings to enhance service reliability and meet future demand.
The filing also details various financial agreements, including a master credit facility and recent debt issuances, as well as regulatory developments affecting the company's operations.
Evergy does not anticipate significant changes in its dividend policy and has declared a quarterly dividend of $0.6675 per share, payable on December 20, 2024.
The company continues to pursue renewable and natural gas plant investments, with plans to construct new facilities and enhance existing infrastructure to support its strategic goals.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Evergy Inc. quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.