Evergy Reaffirms 4%-6% EPS Growth Target Through 2029 Amid Strong Customer Pipeline.

Evergy reaffirms its 4% to 6% EPS growth target through 2029, citing progress in its large customer pipeline. CEO David A. Campbell reported Q2 adjusted earnings of $0.82 per share, exceeding internal budget and overcoming unfavorable weather. The company is pleased with the pipeline advancements and is confident in its growth prospects.

Evergy Inc. (NASDAQ:EVRG) has reaffirmed its 4% to 6% earnings per share (EPS) growth target through 2029, citing progress in its large customer pipeline. The company reported second-quarter 2025 adjusted earnings of $0.82 per share, exceeding its internal budget and overcoming unfavorable weather conditions. CEO David A. Campbell expressed satisfaction with the pipeline advancements and confidence in the company's growth prospects.

Evergy's expanding economic development pipeline, which has grown from approximately 12.2 GW to over 15 GW, is a key driver of this optimism. The company identified a transformative 4-6 GW opportunity with Tier 1 large load customers, providing a substantial 10-year growth roadmap. This pipeline includes customers actively building, finalizing agreements, in advanced discussions, and the balance of the pipeline, with significant potential for future growth.

The company's regulatory successes also contributed to its positive outlook. A unanimous settlement agreement for the Kansas Central Rate Review resulted in a $128 million net revenue increase. Additionally, approvals for several generation projects, including natural gas and solar facilities, represent a total of 2,184 MW of capacity.

Evergy's financial outlook remains robust, with the company projecting a 4-6% EPS compound annual growth rate (CAGR) through 2029. The company plans $17.5 billion in infrastructure investments from 2025 to 2029, including $12.5 billion from operations, $5.8 billion in incremental debt, and $2.8 billion in equity and equity-like securities. The company maintains strong credit metrics, with an estimated CFO pre-working capital to debt ratio of approximately 15.0%.

Despite current headwinds, such as weather impacts and rising costs, Evergy is well-positioned for sustained long-term growth. The company aims to maintain affordable rates while investing in infrastructure, target top-tier performance in reliability and customer service, and advance an "all-of-the-above" generation portfolio with a target of net zero CO2e by 2045 for scope 1 and scope 2 emissions.

Evergy will provide a comprehensive update on its load and EPS growth, along with its five-year capital and financing plans, during its year-end call.

References:
[1] https://www.investing.com/news/company-news/evergy-q2-2025-slides-eps-dips-on-weather-impact-economic-development-pipeline-expands-93CH-4176324
[2] https://seekingalpha.com/news/4482142-evergy-reaffirms-4-percent-to-6-percent-eps-growth-target-through-2029-as-large-customer