Evergy (EVRG) Q4 FY2025 earnings: revenue $1.3 billion, up 6.6% on the year

Evergy, Inc. (EVRG) reported revenue of $1.3 billion for Q4 FY2025, the quarter ended 31 December 2025, up 6.6% on the same quarter a year earlier. Net income was $84 million, up 7.8% on the year, and diluted earnings per share $0.35. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2026.

Revenue

$1.3 billion

+6.6% on the year · -26.0% on the quarter

Q1 FY2024Q4 FY2025

Operating margin

17.8%

17.7% a year earlier

Q1 FY2024Q4 FY2025

Net income

$84 million

+7.8% on the year · -82.3% on the quarter

Q1 FY2024Q4 FY2025

Diluted EPS

$0.35

+2.9% on the year · -82.8% on the quarter

Q1 FY2024Q4 FY2025

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 raised, 3 new.

GAAP EPS down, adjusted EPS up: Full-year GAAP EPS was $3.66 against $3.79 in 2024. Adjusted EPS was $3.83 against $3.81, with adjusted earnings of $893.8 million against $877.9 million.
2026 adjusted EPS guidance issued: The 2026 adjusted EPS guidance range is $4.14 to $4.34. The midpoint of $4.24 is the base for the long-term growth target.
Long-term growth target raised: The long-term adjusted EPS growth target is 6% to 8%+ through 2030, versus 4% to 6% through 2029 in the November release.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Revenue	1,340	1,810	1,257	-26.0%	+6.6%
Operating income	239	658	222	-63.7%	+7.6%
Operating margin	17.8%	36.4%	17.7%
Interest expense	158	152	142	+3.9%	+11.0%
Pre-tax income	70.2	502	74.6	-86.0%	-5.9%
Income tax	-15.7	26.0	-4.7
Effective tax rate	-22.4%	5.2%	-6.3%
Net income	84.3	475	78.2	-82.3%	+7.8%
Net margin	6.3%	26.2%	6.2%
Diluted EPS	$0.35	$2.03	$0.34	-82.8%	+2.9%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Operating cash flow	334	938	396	-64.4%	-15.6%
Capital expenditure	864	712	514	+21.4%	+68.1%
Free cash flow	-530	225	-119
Free cash flow margin	-39.6%	12.5%	-9.4%
Cash from investing	-668	-667	-472
Cash from financing	318	-262	49.1		+546.6%
Depreciation and amortisation	296	290	276	+2.0%	+7.5%
Share-based compensation	4.1	5.3	3.7	-22.6%	+10.8%
Dividends paid	157	151	154	+4.2%	+2.5%
Dividend per share	n/a	$0.67	n/a
Diluted shares, weighted	234m	234m	231m	-0.2%	+1.3%
Shares outstanding at period end	230m	230m	230m	+0.0%	+0.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Shareholders' equity	10,221	10,289	9,955	-0.7%	+2.7%
Non-controlling interest	46.5	43.4	34.2	+7.1%	+36.0%
Debt	15,202	14,719	14,070	+3.3%	+8.1%
Operating lease liabilities	44.6	n/a	43.1		+3.5%
Finance lease liabilities	112	n/a	75.0		+48.9%
Other liabilities	8,322	8,389	8,105	-0.8%	+2.7%
Total liabilities and equity	33,948	33,440	32,282	+1.5%	+5.2%
Fixed assets	26,302	25,699	24,931	+2.3%	+5.5%
Goodwill	2,337	2,337	2,337	0.0%	0.0%
Cash and equivalents	19.8	27.5	22.0	-28.0%	-10.0%
Receivables	214	338	245	-36.7%	-12.7%
Other assets	5,076	5,039	4,747	+0.7%	+6.9%
Total assets	33,948	33,440	32,282	+1.5%	+5.2%

Questions

What was Evergy's revenue in Q4 FY2025?

Evergy (EVRG) reported revenue of $1.3 billion for Q4 FY2025, the quarter ended 31 December 2025, up 6.6% on the same quarter a year earlier.

How much did Evergy earn in Q4 FY2025?

Net income for Q4 FY2025 was $84 million, up 7.8% on the year, and diluted earnings per share $0.35.

When did Evergy report Q4 FY2025 results?

Evergy filed its 10-K for the year that ended with the quarter on 19 February 2026; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,122	1,224	1,446	1,909	1,280	1,297	1,354	1,669	1,188	1,331	1,448	1,811	1,257	1,374	1,437	1,810	1,340	1,444	1,500	2,097
Operating income	141	253	336	578	100	279	337	486	181	260	358	628	222	292	344	658	239	318	381	808
Operating margin	13%	21%	23%	30%	8%	22%	25%	29%	15%	20%	25%	35%	18%	21%	24%	36%	18%	22%	25%	39%
Interest expense	91.2	91.8	99.3	102	111	123	134	137	132	133	144	144	142	152	154	152	158	174	166	168
Pre-tax income	72.0	135	218	479	-26.8	156	191	362	42.6	131	216	487	74.6	136	183	502	70.2	156	233	660
Tax rate	24%	9%	10%	10%	n/a	8%	6%	2%	-38%	6%	3%	4%	-6%	7%	5%	5%	-22%	2%	7%	7%
Net income	53.4	122	194	428	7.5	143	179	352	58.0	123	207	466	78.2	125	171	475	84.3	152	215	613
Net margin	5%	10%	13%	22%	1%	11%	13%	21%	5%	9%	14%	26%	6%	9%	12%	26%	6%	10%	14%	29%
Diluted EPS	$0.23	$0.53	$0.84	$1.86	$0.04	$0.62	$0.78	$1.53	$0.24	$0.53	$0.90	$2.02	$0.34	$0.54	$0.74	$2.03	$0.35	$0.64	$0.91	$2.59
Operating cash flow	316	265	324	889	324	363	352	836	428	317	318	953	396	450	324	938	334	362	349	988
Capital expenditure	578	525	592	498	552	528	576	554	676	619	678	526	514	593	627	712	864	852	960	903
Free cash flow	-262	-260	-268	391	-228	-165	-224	283	-248	-301	-360	427	-119	-143	-303	225	-530	-489	-611	85.3
Dividends paid	131	131	131	131	141	141	141	141	148	148	148	148	154	154	151	151	157	158	158	158
Shares outstanding	229m	229m	230m	230m	230m	230m	230m	230m	230m	230m	230m	230m	230m	230m	230m	230m	230m	231m	231m	234m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2025, filed 19 February 2026: the filing.