EPS · actual vs est
Revenue · actual vs est
Summary
Generated 2026-02-19
Management highlights
David Campbell thanked employees for advancing strategic objectives. They raised long-term adjusted EPS growth target to 6%-8%+ through 2030. In 2025, they invested $2.8B in infrastructure, faced weather and weak industrial demand impacts. Made progress in economic development, with 15+ gigawatts pipeline, LLPS tariffs approved in Kansas and Missouri, Senate Bill 4 in Missouri, Kansas Central rate review settlement. Achieved safety and reliability improvements. Raised dividend 4% to annualized $2.78. Bryan Buckler discussed 2025 financial results, 2026 EPS guidance, large load demand growth profile, 5-year investment plan, and financing plan.
Guidance
Raised long-term adjusted EPS growth target to 6%-8%+ through 2030 off 2026 guidance midpoint of $4.24. Expect EPS growth to exceed 8% annually from 2028-2030. 2026 EPS guidance midpoint is $4.24. Capital investment plan $21.6B from 2026-2030, 11.5% annualized rate base growth. FFO to debt ratio target ~14%, dividend payout ratio target 50%-60%
Q&A highlights
Q: On equity issuances in 2030 and steady-state equity needs.
A: No planned equity issuances in 2030 due to improving FFO, but may reevaluate with additional ESAs.
Q: Flavor of 2.0-3.5 gigawatt potential for advanced discussions.
A: Expect at least 1 more ESA in 2026, size similar to announced ones.
Q: 2027-2030 EPS growth.
A: '26, '27 in lower half of 6%-8% range, accelerate to >8% from 2028.
Q: FFO to debt and CapEx financing.
A: 2025 FFO to debt ~14%, plan to use 50-50 debt equity for incremental CapEx.
Q: Industrial load turnaround and Panasonic.
A: January 2026 industrial load strong, Panasonic ramping up.
Q: Sensitivities of incremental load growth.
A: Depends on customer agreement, ESAs have specific ramps.
Q: Industrial rate and cancellation exposure.
A: Industrial rate ~$0.06-$0.07/kWh, LLPS provisions protect against early cancellation.
Q: FFO to debt target change.
A: Moody's lowered downgrade threshold to 14% from 15% a year ago.
Q: DOE energy-dominant financing and creative approaches.
A: Exploring creative approaches for next 10 gigawatts, open to different options
Key numbers
Reported versus consensus
Earnings calendar feed
| Metric | Reported | Consensus | Delta | Prior year |
|---|---|---|---|---|
| EPS | $0.42 | $0.57 | -25.8% | $0.35 |
| Revenue | $1.33B | $1.15B | +15.4% | $1.26B |
Transcript
February 19, 2026Full transcript unavailable for redistribution
The structured summary above covers the available call sections. Full transcript text is not included on this page.
Continue exploring
Prior quarters
This page presents the stored structured earnings-call summary and deterministic earnings calendar values. How this is generated. For informational purposes only; not investment advice.