EVRGEvergy

Utilities · Electric & Gas Utilities · Nasdaq

Evergy, Inc., Evergy Kansas Central, Inc. and Evergy Metro, Inc. are separate registrants filing this combined annual report on Form 10-K. The terms "Evergy," "Evergy Kansas Central," "Evergy Metro" and "Evergy Companies" are used throughout this report. 10-K, Item 1

Employees: 4,691
Headquarters: Kansas City, MO
Next results: around Feb 18, 2027

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What the 10-K filed 2026-02-19 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2025-02-27.

Big customers

Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).

No specific sentence about this in the 10-K.

Key suppliers

Parts or manufacturing that depend on one or a few suppliers.

“In addition, Wolf Creek is reliant on a sole supplier for nuclear fuel assembly fabrication and related services.”
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Lawsuits and legal claims

3 new

Pending cases, settlements and what the company has set aside for them.

New “In July 2024, a lawsuit was filed in the District Court of Douglas County, Grant Township, et al. v.”
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New “a $7.0 million increase in legal costs due to increased litigation activity in 2025.”
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New “a $4.6 million increase in legal costs due to increased litigation activity in 2025; and”
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“Supreme Court issued an order granting emergency motions for stay filed by state and industry petitioners of the final ITFIP pending further review of the ITFIP by the U.S.”
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“In 2025, three lawsuits, including one seeking class certification, were filed in the Circuit Court of Henry County, Missouri against Evergy Metro and two other defendants alleging unspecified damages resulting from the defendants' alleged unlawful and negligent spreading of CCRs associated with the Montrose Station coal ash landfill.”
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Guarantees and indemnities

Promises to pay someone else's debts or losses if they cannot.

“Evergy direct guarantees to Evergy Kansas Central and Evergy Metro counterparties for certain fuel supply contracts totaling $76.3 million, with expiration dates ranging from 2027 to 2031; and”
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“Evergy's guarantee of Evergy Missouri West long-term debt totaling $710.0 million, which includes debt with maturity dates ranging from 2031 to 2043.”
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Debt covenants

Conditions in loan agreements that, if broken, can make debt due early.

“As of December 31, 2025, the Evergy Companies were in compliance with these covenants.”
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“As of December 31, 2025, Evergy, Evergy Kansas Central, Evergy Metro and Evergy Missouri West were in compliance with this covenant.”
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“As of December 31, 2025, Evergy Missouri West was in compliance with these covenants.”
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“The master credit facility of Evergy, Evergy Kansas Central, Evergy Metro and Evergy Missouri West and the note purchase agreements for certain Evergy Missouri West senior notes contain covenants requiring the respective company to maintain a consolidated indebtedness to consolidated total capitalization ratio of not more than 0.65 to 1.00.”
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Commitments off the balance sheet

Contracts the company must pay for later: purchase obligations, take-or-pay deals.

“Regulatory assets, includes $16.7 and $15.9 related to variable interest entity, respectively 217.4 180.9”
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“PROPERTY, PLANT AND EQUIPMENT, NET, includes $119.4 and $126.5 related to variable interest entity, respectively 26,301.5 24,930.9”
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“Regulatory assets, includes $277.9 and $294.5 related to variable interest entity, respectively 1,885.3 1,719.3”
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“Current maturities of long-term debt, includes $17.0 and $16.2 related to variable interest entity, respectively $ 367.0 $ 651.7”
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“Accrued interest, includes $1.3 and $1.3 related to variable interest entity, respectively 158.3 136.4”
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Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗

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