“Trading The Evergy Companies also engage in non-regulated energy marketing activity for trading purposes, primarily at Evergy Kansas Central, which focuses on seizing market opportunities to create value driven by expected changes in the market prices of comm…”10-Q · Aug 6, 2026 ↗
Evergy, Inc.
EVRG
Market read
Evergy, Inc.'s current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 14 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.
- Revenue increased 4.3% versus the comparable filing period.
- EVRG's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if EVRG's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 14 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.
- Revenue increased 4.3% versus the comparable filing period.
- Operating margin improved 1.1 percentage points.
- Net income increased 21.2% versus the comparable filing period.
No thresholded adverse filing evidence is available yet.
- EVRG's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Operating margin changed +1.1 percentage points in the latest annual period.
- Operating cash flow covered net income at 2.39x in the latest annual period.
No qualifying adverse evidence was identified; that is not proof there is no downside.
No credible peer-relative valuation comparison is available yet.
Price as of Sep 11, 2026
81.62Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“Evergy Metro's gross margin (GAAP) increased $11.0 million year to date June 30, 2026, compared to the same period in 2025, and Evergy Metro's utility gross margin (non-GAAP) increased $19.0 million year to date June 30, 2026, compared to the same period in 2…”10-Q · Aug 6, 2026 ↗
“Evergy's impairment test for the $ 2,336.6 million of goodwill that was recorded as a result of the merger that created Evergy was conducted as of May 1, 2026.”10-Q · Aug 6, 2026 ↗
“As a result of the issuance, Evergy and Evergy Kansas Central demonstrated their intent and ability to refinance the $ 350.0 million of 2.55 % FMBs and reflected this amount in long-term debt, net, rather than current maturities of long-term debt on Evergy's…”10-Q · Aug 6, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 3.3× · EV/sales 5.6×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for EVRG. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
Fundamentals strengthened in the latest filing
10-Q filed 2026-05-07 against the comparable filing from 2025-05-08.
What improved
- Revenue increased 4.3% versus the comparable filing period.
- Operating margin improved 1.1 percentage points.
- Net income increased 21.2% versus the comparable filing period.
What weakened
No thresholded deterioration was identified.
Filing receipts
“Evergy's gross margin (GAAP) increased $34.5 million for the three months ended March 31, 2026, compared to the same period in 2025 and Evergy's utility gross margin (non-GAAP) increased $51.3 million for the three months ended March 31, 2026, compared to the same period in 2025, both measures were driven by: • a $40.0 million increase from new Evergy Kansas Central retail rates effective in October 2025; and • a $16.6 million increase in revenue related to non-regulated energy marketing activity at Evergy Kansas Central; partially offset by • a $5.3 million decrease primarily due to unfavorable weather (heating degree days decreased by 20%); partially offset by higher weather-normalized de...”
“Interest Expense Evergy's interest expense increased $22.0 million for the three months ended March 31, 2026, compared to the same period in 2025, primarily driven by: • an $18.9 million increase due to issuances of long-term debt; • a $10.3 million increase related to Evergy's repurchase of a portion of its Convertible Notes in 2026; and • a $2.8 million increase in interest expense on short-term borrowings primarily due to higher short-term debt balances in 2026; partially offset by • a $6.9 million decrease due to the repayment of long-term debt; • a $5.0 million decrease due to higher debt AFUDC primarily at Evergy Missouri West driven by higher average CWIP balances in 2026.”
“Evergy Kansas Central's gross margin (GAAP) increased $35.1 million for the three months ended March 31, 2026, compared to the same period in 2025, and Evergy Kansas Central's utility gross margin (non-GAAP) increased $46.6 million for the three months ended March 31, 2026, compared to the same period in 2025, both measures were driven by: • a $40.0 million increase from new Evergy Kansas Central retail rates effective in October 2025; and • a $16.6 million increase in revenue related to non-regulated energy marketing activity; partially offset by • a $10.0 million decrease primarily due to unfavorable weather (heating degree days decreased 22%); partially offset by higher weather-normalize...”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind EVRG
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
BRK-BBerkshire Hathaway Inc.partnerMay 7, 2026 ▾
“Evergy Kansas Central also owns a 50% interest in Prairie Wind, which is a joint venture between Evergy Kansas Central and subsidiaries of AEP and Berkshire Hathaway Energy Company.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
EVRG is currently a Early Follower in the organic co-movement group Regulated Electric Utilities. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.