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Great Plains Energy Incorporated (NYSE:GXP) reported earnings for the three months ended Mar2016 on May 05, 2016. The company earned $0.17 per share on revenue of $572.1M. Analysts had been modeling earning per share of $0.14 with $572.43M in revenue.

Great Plains Energy Incorporated (NYSE:GXP) announced first quarter 2016 earnings of $26.0 million or $0.17 per share of average common stock outstanding, compared with first quarter 2015 earnings of $18.5 million or $0.12 per share. The Company is also affirming its 2016 earnings guidance range of $1.65 to $1.80 per share.

Great Plains Energy:

On a per-share basis, drivers for the increase in first quarter 2016 compared to the same period in 2015 included the following:

  • Approximately $0.12 of new Missouri and Kansas retail rates that became effective September 29, 2015 and October 1, 2015, respectively; and
  • An approximately $0.09 increase in other margin primarily due to new cost recovery mechanisms and an increase in the recovery of throughput disincentive associated with our energy efficiency programs.

These drivers were partially offset by the following:

  • An approximately $0.07 decline due to milder weather driven by a 16 percent decrease in heating degree days compared to the first quarter 2015;
  • $0.02 increase in other operating and maintenance expense;
  • $0.02 increase in depreciation and amortization due to capital investments being placed into service;
  • A $0.03 decrease in Allowance for Funds Used During Construction (AFUDC) resulting from lower average construction work in progress due to environmental upgrades at La Cygne No. 2 and other capital investments placed into service in March 2015; and
  • $0.02 of other items including higher general taxes and interest expense.

Overall retail MWh sales were down 5.3 percent in the first quarter 2016, compared to the 2015 period with the decrease driven by weather. The unfavorable weather impact in the first quarter 2016, when compared to normal, was approximately $0.05 per share.

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Great Plains Energy Incorporated earnings per share showed a decreasing trend of -12.8% for the current fiscal year. The company’s expected EPS growth rate for next fiscal year is 183%.Analysts project EPS growth over the next 5 years at 7.1%. It has EPS annual decline over the past 5 fiscal years of -2.3% when sales grew 2.1. It reported 4.2% sales growth, and 40% EPS growth in the last quarter.

The stock is trading at $30.91, up 33.35% from 52-week low of $24.06. The stock trades down -4.78% from its peak of $32.74 and 0.71% above the consensus price target of $31.13. Its volume clocked up at 2.57 million shares which is higher than the average volume of 1.56 million shares. Its market capitalization currently stands at $4.72B.



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