Evergy second-quarter profit drops on higher interest expenses

Benefit Evergy has declined in the second quarter profit on Thursday, while damaging higher operating and interest costs, while a lighter air strength reduced the consumption of power.

For costs such as higher interest rates, protection and raising the electricity network, it usually increases borrowing costs for energy companies that need more capital.

Evergy, interest expenses increased by 7.1% in the quarter to 153.8 million dollars, he said.

CEO David Campbell said in a statement, “In July, Kansas Central Ratio in the case of Kansas Corporation Commission (KCC) if the approved by Kansas Central to our customers will give a constructive result unanimously announced a compromise agreement.” He said.

“We also received approval for new natural gas and solar energy projects in Kansas and Missouri.”

Total operating expenses for the quarter, which ended on June 30, rose from $ 1.08 billion to $ 1.09 billion a year ago.

The total income for the quarter fell from $ 1.45 to $ 1.44 billion last year, and total retail sales fell 6.38% compared to the previous year.

The company re -confirmed its estimation for corrected business gains to $ 3.92 per share and $ 4.12 per share for 2025. Analysts predicted them as $ 4.03 per share.

Evergy’s net income fell $ 171.3 million or 74 cents per share compared to 207 million dollars a year ago or 90 cents per share.

Evergy provides power to 1.7 million customers in Kansas and Missouri through Evergy Kansas Central, Evergy Metro and Evergy Missouri West. (Reporting by Katha Kalia in Bengaluru;