The Average Payment Plan can help reduce your high bills in summer and winter and make it easier to manage your monthly bill. The plan allows you to pay a monthly bill on the average cost of your most recent 12-month period. The amount due may vary slightly month to month but if you were signed up for Average Payment, your bill for this month would have only been Label and then every bill in the coming months would be close to that same amount. It’s not too late to sign up for your Label bill.
For more information about the Average Pay Program and how it can help reduce high bill surprises, visit our Average Payment Plan page
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TOPEKA, Kan., Aug. 8, 2017 - Westar Energy, Inc. (NYSE:WR) today announced earnings of $72 million, or $0.50 per share, for the second quarter 2017 compared with earnings of $72 million, or $0.51 per share, for the second quarter 2016. Earnings for the six months ended June 30, 2017 were $132 million, or $0.92 per share, compared with $138 million, or $0.97 per share, for the same period in 2016.
Lower earnings per share for the second quarter were driven by lower residential and commercial sales primarily due to milder weather this year compared to last year. The lower sales were partially offset by a decrease in merger-related expenses and lower employee benefit costs.
Lower earnings per share for the six months ended June 30, 2017 were also driven by the effect of mild weather this year when compared to last year resulting in lower residential and commercial sales. Also contributing to lower net income was a decrease in corporate-owned life insurance income. Partially offsetting lower sales was a decrease in merger-related expenses.
Westar Energy management will host a conference call Wednesday, Aug. 9 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 59525914. 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 second-quarter financial information, the company's quarterly report on Form 10-Q for the period ended June 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.
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As Kansas’ largest electric utility, Westar Energy, Inc. (NYSE:WR) provides customers the safe, reliable electricity needed to power their businesses and homes. We have 7,800 MW of electric generation capacity that includes renewables and traditional power sources with half the electricity supplied to our more than 700,000 customers from emissions free sources: nuclear, wind and solar, with a third coming from renewables. We are a leader in electric transmission in Kansas coordinating a network of lines and substations that supports one of the largest consolidations of wind energy in the nation. Our employees live, volunteer and work in the communities we serve.
For more information about Westar Energy, visit us on the Internet at http://www.WestarEnergy.com.
Forward-looking statements: Certain matters discussed in this news release are “forward-looking statements.” The Private Securities Litigation Reform Act of 1995 has established that these statements qualify for safe harbors from liability. Forward-looking statements may include words like “believe,” “anticipate,” “target,” “expect,” “pro forma,” “estimate,” “intend,” “guidance” or words of similar meaning. Forward-looking statements describe future plans, objectives, expectations or goals. Although Westar Energy believes that its expectations are based on reasonable assumptions, all forward-looking statements involve risk and uncertainty. The factors that could cause actual results to differ materially from these forward-looking statements include those discussed herein as well as (1) those discussed in the company's Annual Report on Form 10-K for the year ended Dec. 31, 2016 (a) under the heading, “Forward-Looking Statements,” (b) in ITEM 1. Business, (c) in ITEM 1A. Risk Factors, (d) in ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations, and (e) in ITEM 8. Financial Statements and Supplementary Data: Notes 3, 14 and 16; (2) those discussed in the company's Quarterly Reports on Form 10-Q filed on May 9, 2017 and Aug. 8, 2017, (a) under the heading "Forward-Looking Statements." (b) in ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations, (c) in Part I, Financial Information, ITEM 1. Financial Statements: Notes 3, 11, 12 (in the Form 10-Q filed on May 9, 2017), and 13 (in the Form 10-Q filed on Aug. 8, 2017), and (d) ITEM 1A. Risk Factors; and (3) other factors discussed in the company's filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date such statement was made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement was made.
Media Relations Manager
Media line: 888-613-0003
Director, Investor Relations