AI Takeaway
Evergy delivered a strong Q1 2026 with revenue up 5.0% to $1.44B and net income surging 21.2% to $151.5M, though operating cash flow declined 19.4% and the current ratio of 0.45 signals near-term liquidity pressure amid heavy capital investment.
Revenue
$1.44B
++5.03% YoY
EPS (Basic)
$0.66
++22.22% YoY
Operating Income
$318.4M
++9.19% YoY
Filed · Source: SEC EDGAR 10-Q filing
Total revenue increased 5.0% year-over-year to $1.44B in Q1 2026 (vs. $1.37B in Q1 2025), reflecting higher utility rates and improved customer demand, consistent with regulated utility pricing mechanisms.
Source: Source: 10-Q Income Statement (XBRL Financial Data)
Net income rose 21.2% to $151.5M and diluted EPS grew 18.5% to $0.64, significantly outpacing revenue growth, suggesting improved cost management and operating leverage within the regulated utility structure.
Source: Source: 10-Q Income Statement (XBRL Financial Data)
Operating margin improved approximately 84 basis points to 22.1% from 21.2% in the prior-year period, indicating that operating expenses grew more slowly than revenues and that efficiency initiatives are bearing fruit.
Source: Source: 10-Q Key Ratios (XBRL Financial Data)
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Upgrade to unlockEvergy's current ratio stands at just 0.45, meaning current liabilities of $4.22B are more than double current assets of $1.88B. Current liabilities surged 27.3% year-over-year, while cash and equivalents fell 47.9% to only $18.4M, creating meaningful near-term liquidity risk that may require additional short-term borrowings.
Source: Source: 10-Q Balance Sheet (XBRL Financial Data)
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Upgrade to unlockReported EPS of $0.69 versus the $0.66 analyst consensus — a +4.6% beat for Q1 FY2026.
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue | $1.44B | $1.37B | +5.03% |
Operating Income | $318.4M | $291.6M | +9.19% |
Net Income | $151.5M | $125M | +21.20% |
EPS (Basic) | $0.66 | $0.54 | +22.22% |
EPS (Diluted) | $0.64 | $0.54 | +18.52% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Total Assets | $34.48B | $32.45B | +6.25% |
Current Assets | $1.88B | $1.83B | +2.44% |
Current Liabilities | $4.22B | $3.31B | +27.26% |
Stockholders' Equity | $10.16B | $9.93B | +2.28% |
Cash & Equivalents | $18.4M | $35.3M | -47.88% |
Long-Term Debt | $13.15B | $12.41B | +5.98% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Cash Flow | $362.5M | $449.6M | -19.37% |
Investing Cash Flow | $-756.6M | $-598.9M | -26.33% |
Financing Cash Flow | $400.7M | $171.6M | +133.51% |
Dividends Paid | $157.6M | $153.6M | +2.60% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Margin | 22.1% | 21.2% | +0.84% |
Net Margin | 10.5% | — | — |
ROE | 1.5% | — | — |
ROA | 0.4% | — | — |
Current Ratio | $0.446 | — | — |
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Evergy reported Q1 2026 diluted EPS of $0.64, up 18.5% from $0.54 in Q1 2025, and net income of $151.5M, a 21.2% year-over-year increase. While specific analyst consensus estimates are not available in this filing, the strong double-digit growth in both EPS and net income suggests a robust quarter relative to historical performance.
Evergy's Q1 2026 highlights include revenue growth of 5.0% to $1.44B, net income up 21.2% to $151.5M, and operating margin expansion to 22.1%. However, operating cash flow fell 19.4% to $362.5M and the current ratio of 0.45 signals near-term liquidity tightness as the company funds a heavy capital investment program of $756.6M in the quarter.
Evergy's revenue grew 5.0% year-over-year to $1.44B in Q1 2026, up from $1.37B in Q1 2025. This growth is consistent with regulated utility rate increases and improved customer demand across its Kansas and Missouri service territories.
Key risks inferred from Evergy's Q1 2026 financial data include a very low current ratio of 0.45 indicating near-term liquidity pressure, a heavy long-term debt load of $13.15B that has grown 6.0% year-over-year, and a large free cash flow deficit of approximately -$394M as capital expenditures of $756.6M far exceed operating cash flow of $362.5M. Regulatory rate case outcomes remain critical to the company's ability to recover these investments.
Evergy's earnings quality is strong with net income up 21.2% and operating margins expanding, but its balance sheet shows stress with a current ratio of just 0.45, cash of only $18.4M (down 47.9%), and long-term debt of $13.15B. The company is funding a major capital investment cycle through external financing, which is typical for regulated utilities but requires continued access to capital markets and favorable regulatory decisions.