Evergy Targets 8%+ Annual Earnings Growth from 2028, Fueled by Data Center Demand
EVRG sits 20% above its 52-week low of $70.42 on light trading volume (0.1× avg).
Summary
Evergy laid out an aggressive long-term growth plan on its Q2 call, projecting annual earnings growth exceeding 8% from 2028 through 2030. The utility sees load growth of 7-8% through 2030, driven by signed electric service agreements that will push peak load to 2.05–2.25 GW by 2030. It is in discussions with multiple new customers for an additional 1–2 GWs and plans $1 billion in incremental capital spending in Kansas and Missouri. Rate increases for Missouri West customers will run above inflation, while most residential customers will see increases at or below inflation. This follows yesterday's 10-Q showing a 25% jump in Q2 net income to $215 million and $8.9 billion in long-term contracts, reinforcing the data-center demand thesis.
At the time of this announcement, EVRG was trading at $84.16 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $19.4B. The 52-week trading range was $70.42 to $88.62. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.