Utility Evergy beats second-quarter profit estimates on robust power demand

• The company posted an adjusted profit of 88 cents per share in the second quarter, compared with analysts' estimates of 83 cents per share, according to LSEG data.
• Evergy said it benefited from the recovery of regulated investments, growth in weather-normalized demand and higher large customer revenues, partially offset by higher operations and maintenance expenses.
• Total retail sales for the second quarter rose to $1.22 billion from $1.13 billion, led by an uptick in residential, commercial and industrial revenues.
• Total operating expenses for the quarter ended June 30 rose to $1.12 billion, from $1.09 billion a year ago.

Aug. 6 (Reuters) - Electric utility Evergy beat Wall Street estimates for second-quarter profit on Thursday, helped by robust electricity demand and higher revenues from large customers such as data centers.

Electricity demand in the U.S. has been rising at an unprecedented pace, largely driven by power-hungry data centers dedicated to AI and as homes and businesses reduce the use of fossil fuels for heat and transportation.

• The utility said it expects to execute at least one more electric service agreement (ESA) in 2026 and expects any additional agreements to further extend load growth forecast.