Evergy, Inc. (EVRG) CEO David Campbell on Q2 2022 Results - Earnings Call Transcript

Evergy, Inc. (NASDAQ:EVRG) Q2 2022 Earnings Conference Call August 4, 2022 9:00 AM ET

Company Participants

Lori Wright - Vice President Investor Relations and Treasurer

David Campbell - President and Chief Executive Officer

Kirkland Andrews - Executive Vice President and Chief Financial Officer

Conference Call Participants

Michael Sullivan - Wolfe Research

Durgesh Chopra - Evercore ISI

Paul Patterson - Glenrock Associates

Nicholas Campanella - Credit Suisse

Operator

Good day, and thank you for standing by. Welcome to the Q2 2022 Evergy Incorporated Earnings Conference Call. [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, Investor Relations and Treasurer. Please go ahead.

Lori Wright

Thank you, Michelle. Good morning, everyone, and welcome to Evergy's second 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 website 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 second quarter highlights, our integrated resource plan and our regulatory and legislative priorities. Kirk will cover in more detail the second quarter results and discuss the latest on sales and economic trends. 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. Thanks for joining us today.

I'll begin on Slide 5. I'm pleased to report that we had a solid second quarter as we delivered adjusted earnings per share of $0.86 compared to $0.85 in 2021. The increase in adjusted earnings over last year was driven primarily by favorable weather, an increase in weather-normalized demand and higher transmission margin, partially offset by higher planned operations and maintenance expense and lower other income net of expense. Kirk will discuss the second quarter drivers in more detail.