Evergy misses quarterly targets but unveils massive $21.6B grid expansion

Evergy (NASDAQ:EVRG), the Kansas City-based utility serving 1.7 million customers in Kansas and Missouri, reported fourth-quarter earnings that fell short of Wall Street estimates on Thursday.

However, the company signaled an aggressive pivot toward industrial growth, announcing a multi-billion-dollar capital plan and new contracts for major data center projects.

The utility posted fourth-quarter net income of $84.3 million, or 36 cents per share.

Excluding one-time items, including losses from early-stage clean energy investments, adjusted earnings were 42 cents per share.

This figure trailed the 57-cent average estimate of analysts surveyed by Zacks Investment Research.

Revenue for the quarter reached $1.34 billion, missing the $1.41 billion anticipated by the market.

Despite the quarterly miss, Evergy's full-year 2025 revenue rose to $5.96 billion.

CEO David Campbell used the earnings release to introduce a five-year, $21.6 billion capital investment plan aimed at modernizing the grid and expanding capacity for large-load customers.

The company also announced the signing of four new electric service agreements for large industrial projects, including two data centers, capitalizing on the region’s growing status as a tech hub.

Looking ahead, Evergy issued a robust 2026 adjusted earnings guidance range of $4.14 to $4.34 per share and established a long-term annual growth target of 6% to 8% through 2030.