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13:00
Aug 06 ◎

EVRG FY2026 Q2 Watch

Evergy, Inc. (EVRG) FY2026 Q2 Earnings Call

6752.T DLR GOOGL META GME ▾

Bryan Buckler

Panasonic's operational ramp is directly contributing to Evergy's earnings and load growth, indicating strong industrial demand in the region.

"We recorded higher revenues this year from the March 2026 start of operations of a large data center and from Panasonic's ramp of operations."

6752.T WATCH

David Campbell

Digital Realty is a significant counterparty under Evergy's Large Load tariff, representing a substantial and growing revenue stream.

"We've got two ESAs with Google, one with Meta, one with Digital Realty, which is a very large data center developer"

DLR WATCH

David Campbell

Google's multiple ESAs with Evergy signal continued hyperscale data center expansion in the Kansas/Missouri region and a key anchor for future load growth.

"We've got two ESAs with Google, one with Meta, one with Digital Realty"

GOOGL WATCH

David Campbell

Meta's ESA with Evergy confirms ongoing hyperscale energy demand in the region, contributing to Evergy's long-term contracted load profile.

"We've got two ESAs with Google, one with Meta, one with Digital Realty"

META WATCH

David Campbell

Evergy is in advanced discussions with multiple new Tier 2 customers representing 1-2 GW of additional demand, coming primarily beyond 2030, signifying a durable multi-decade demand outlook. — Long-term contracted demand visibility reduces merchant volatility and underpins continued grid and generation investment, which is a positive for regional suppliers.

"Additionally, we are in advanced discussions with multiple new customers in our tier two category, representing approximately one or 2.0 gigawatts."

GME WATCH

David Campbell

Management expects $1 billion of incremental capital from the 2026 IRP, including 3.9 GW of natural gas, indicating a renewed focus on dispatchable power. — This points to a broad trend among utilities to rebalance towards firm power sources, placing a premium on gas suppliers and EPC contractors.

"The preferred plans through 2032 include more than 5 gigawatts of new additions with approximately 3.9 gigawatts of natural gas, nearly 800 megawatts of solar, and 450 megawatts of battery storage."

VST WATCH

Bryan Buckler

The 250 basis point spread between 12% rate base growth and 8% EPS growth is expected to hold, implying heavy capital investment temporarily dilutes returns. — For grid equipment suppliers like Eaton, this signals a robust multi-year procurement pipeline, as utilities spend aggressively on generation and grid upgrades.

"...we continue to forecast an approximate 250 basis point delta between rate-based growth and EPS growth, which is now compared against the 12% rate-based CAGR discussed earlier."

ETN WATCH

HIGH

13:00
May 07 ◎

EVRG FY2026 Q1 Watch

Evergy, Inc. (EVRG) FY2026 Q1 Earnings Call

GOOGL META GE EVRG SIEGY ▾

David Campbell

Google is a direct counterparty to Evergy's large load data center contracts, indicating a strong, contracted demand for electricity in Evergy's service territory.

"we have two Googles. Googles are counterparty for two of the data centers, Meta for another."

GOOGL WATCH

David Campbell

Meta is a direct counterparty to one of Evergy's large load data center contracts, signifying long-term contracted demand in the region.

"we have two Googles. Googles are counterparty for two of the data centers, Meta for another."

META WATCH

David Campbell

Evergy has secured turbine reservations beyond what its current ESAs require, positioning it to quickly sign and serve additional large-load customers without facing long lead-time equipment constraints. — This suggests that Evergy's growth is not bottlenecked by supply chain lead times, and it implies a concrete order backlog for turbine manufacturers.

"We've got turbine reservations beyond what's needed from the ESA, so we have announced We continue to work with customers to be responsive to their needs, and it's typically around the transmission and generation capacity side."

GE WATCH SIEGY WATCH

Brian Reilly

Management's tone is strongly positive, driven by a pipeline of signed Energy Service Agreements (ESAs) that provide clear visibility into long-term growth, leading to a raised outlook and confidence in exceeding prior growth targets.

"There's a lot of great momentum. These are signed ESAs with great counterparties with minimum bills that just give us tremendous line of sight. And so it sounds like you're hearing what we want you to hear, which is confidence that not"

EVRG WATCH

David Campbell

Evergy's ability to amend existing ESAs to serve customers at higher load levels indicates that previously contracted customers are scaling up their power demands faster than initially planned, a strong signal of data center expansion intensity. — This quickening in demand from existing customers underscores the rapid pace of AI data center build-outs and could correlate with higher-than-expected demand for AI hardware and networking equipment.

"Some of the amendments are higher levels over the interim period. So a lot of the predominant impact of the higher peak is from the new ESA. The logic for the amended ESAs is that these customers had a high appetite for basically as, I"

NVDA WATCH ANET WATCH

HIGH

14:00
Feb 19 ◎

EVRG FY2025 Q4 Watch

Evergy, Inc. (EVRG) FY2025 Q4 Earnings Call

GOOGL PCRFY META EVRG ▾

David Campbell

Evergy has signed ESAs with Google for two data center projects, signaling significant, long-term demand for power in the region.

"These commitments solidify Missouri and Kansas as premier destinations for data center customers and are the product of strong partnerships with world-class customers in Google, Meta, and Beale, who we'd like to thank for their investments"

GOOGL WATCH

Brian Buckler

Panasonic is ramping up its manufacturing facility, providing a strong load growth driver for Evergy in 2026.

"In recent months, they're drawing a considerable amount of load now, more and more each month. We certainly expect their load in 26 to be within the range of our planning assumptions."

PCRFY WATCH

David Campbell

Meta is one of the four data center customers signed (an expansion), committing to a long-term load ramp that underpins Evergy's growth forecast.

META WATCH

David Campbell

Management exudes confidence, raising long-term EPS growth targets to 6-8% plus and accelerating to >8% by 2028, all driven by 1.9 GW of newly signed, contracted data center load and a $21.6B capital plan.

"We expect EPS growth to exceed 8% annually beginning in 2028 and through 2030. Our updated growth outlook is bolstered by the recent execution of electric service agreements for four data center projects that I will discuss shortly."

EVRG WATCH

HIGH

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