May 9 (Reuters) - Evergy Inc ( EVRG ) extended its
forecast for 2-3% annual growth in electricity demand to 2028
from 2026 after closing deals to provide power for new Google,
Panasonic and Meta data centers, executives at the Missouri
electric utility said on Thursday.
Evergy ( EVRG ) has signed deals with the technology majors on
projects of a combined 750 megawatts of capacity in Kansas and
Missouri.
"Each will be the largest customer in their respective
jurisdiction by a wide margin," Evergy ( EVRG ) CEO David Campbell said
in a first-quarter earnings call.
Evergy ( EVRG ) missed Wall Street estimates for first-quarter profit
on higher expenses and mild winter weather in its service areas.
The company said mild winter weather affected retail sales,
reducing earnings in the quarter by about 7 cents per share
compared to a typical winter.
Warmer-than-usual winter weather often reduces heating
demand for electricity and natural gas, affecting utility
companies such as Evergy ( EVRG ).
The company's operating expenses rose 5.2% to $1.07 billion
in the quarter from a year earlier, while quarterly interest
expenses rose 8.2% to $133.2 million.
Higher interest rates have made borrowing more expensive for
businesses, weighing on utility companies' costs and denting
profits.
Total revenue of $1.33 billion also missed analysts' average
estimate of $1.35 billion, according to LSEG.
Evergy ( EVRG ) delivers energy to 1.7 million customers in Kansas
and Missouri through its operating subsidiaries, Evergy Kansas
Central, Evergy Metro, and Evergy Missouri West.
The Kansas City, Missouri-based company reported an
adjusted profit of 54 cents per share, missing analysts
estimates of 64 cents per share.