Evergy, Inc. (EVRG) Q3 2022 Earnings Call Transcript

Start Time: 09:00 January 1, 0000 9:24 AM ET

Evergy, Inc. (NASDAQ:EVRG)

Q3 2022 Earnings Conference Call

November 04, 2022, 09:00 AM ET

Company Participants

David Campbell - President and CEO

Kirkland Andrews - EVP and CFO

Lori Wright - VP, IR and Treasurer

Conference Call Participants

Dariusz Lozny - Bank of America

Operator

Good day and thank you for standing by. Welcome to the Third Quarter 2022 Evergy Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]. Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Lori Wright, Vice President of Investor Relations and Treasurer. Please go ahead.

Lori Wright

Thank you, Elizabeth. Good morning everyone and welcome to Evergy's third quarter call. Thank you for joining us this morning.

Today's discussion will include forward-looking information. Slide 2 and the disclosure in our SEC filings contain a list of some of the factors that could cause future results to differ materially from our expectations and include additional information on non-GAAP financial measures. The releases issued this morning, along with today's webcast slides and supplemental financial information for the quarter, are available on the main page of our Web site at investors.evergy.com.

On the call today, we have David Campbell, Evergy's President and Chief Executive Officer; and Kirk Andrews, Executive Vice President and Chief Financial Officer. David will cover our third quarter highlights, provide an update on ongoing and upcoming regulatory proceedings and our recent sales trends as well as an update on our resource planning and the Inflation Reduction Act. Kirk will cover in more detail the third quarter and year-to-date results and our financial outlook for the remainder of the year. Other members of management are with us and will be available during the question-and-answer portion of the call.

I will now turn the call over to David.

David Campbell

Thanks, Lori, and good morning, everyone. I'll begin on Slide 5, and I'm pleased to report that we had another solid quarter as we delivered adjusted earnings of $2.01 per share compared to $1.97 per share in 2021. The increase in adjusted earnings over last year was driven primarily by favorable demand, above normal weather and higher transmission margin, partially offset by higher D&A and interest expense.