Press Release
TOPEKA, Kan. - Westar Energy, Inc. (NYSE: WR) today announced
earnings of $158 million, or $1.11 per share, for the third quarter 2017 compared with earnings
of $155 million, or $1.09 per share, for the third quarter 2016. Earnings for the nine months
ended Sept. 30, 2017, were $290 million, or $2.03 per share, compared with $293 million, or
$2.06 per share, for the same period in 2016.
Higher earnings per share for the third quarter were driven by lower income tax expense.
Partially offsetting the lower income tax expense was lower residential and commercial sales
due primarily to mild weather, a decrease in corporate-owned life insurance income, and an
increase in depreciation related to Western Plains Wind Farm.
Lower earnings per share for the nine months ended Sept. 30, 2017, were driven by the
effect of mild weather resulting in lower residential and commercial sales. Also contributing to
lower earnings was a decrease in corporate-owned life insurance income and increased
depreciation due to Western Plains Wind Farm. Partially offsetting lower sales was lower income
tax expense.
Conference Call and Additional Company Information
Westar Energy management will host a conference call Wednesday, Nov. 1 with the
investment community at 10:00 a.m. ET (9:00 a.m. CT). Investors, media, and the public may
listen to the conference call by dialing (844) 646-4526, conference ID 96033428. A webcast of
the live conference call will be available at www.WestarEnergy.com.
Members of the media are invited to listen to the conference call and then contact Gina
Penzig with any follow-up questions.
This earnings announcement, a package of detailed third-quarter financial information,
the company’s quarterly report on Form 10-Q for the period ended Sept. 30, 2017, and other
filings the company has made with the Securities and Exchange Commission are available on the
company’s website at www.WestarEnergy.com.
--- go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think.
TOPEKA, Kan. - Westar Energy, Inc. (NYSE: WR) today announced
earnings of $158 million, or $1.11 per share, for the third quarter 2017 compared with earnings
of $155 million, or $1.09 per share, for the third quarter 2016. Earnings for the nine months
ended Sept. 30, 2017, were $290 million, or $2.03 per share, compared with $293 million, or
$2.06 per share, for the same period in 2016.
Higher earnings per share for the third quarter were driven by lower income tax expense.
Partially offsetting the lower income tax expense was lower residential and commercial sales
due primarily to mild weather, a decrease in corporate-owned life insurance income, and an
increase in depreciation related to Western Plains Wind Farm.
Lower earnings per share for the nine months ended Sept. 30, 2017, were driven by the
effect of mild weather resulting in lower residential and commercial sales. Also contributing to
lower earnings was a decrease in corporate-owned life insurance income and increased
depreciation due to Western Plains Wind Farm. Partially offsetting lower sales was lower income
tax expense.
Conference Call and Additional Company Information
Westar Energy management will host a conference call Wednesday, Nov. 1 with the
investment community at 10:00 a.m. ET (9:00 a.m. CT). Investors, media, and the public may
listen to the conference call by dialing (844) 646-4526, conference ID 96033428. A webcast of
the live conference call will be available at www.WestarEnergy.com.
Members of the media are invited to listen to the conference call and then contact Gina
Penzig with any follow-up questions.
This earnings announcement, a package of detailed third-quarter financial information,
the company’s quarterly report on Form 10-Q for the period ended Sept. 30, 2017, and other
filings the company has made with the Securities and Exchange Commission are available on the
company’s website at www.WestarEnergy.com.
--- go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think.
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