KCP&L parent Great Plains Energy sees earnings drop 14 percent

Great Plains Energy, the parent company of the Kansas City Power & Light Co., reported a 14 percent decrease in third-quarter earnings compared to the same quarter last year.

The utility holding company’s profits dropped to $126.4 million from $147 million, and earnings per share declined 13 cents, to 82 cents per share.

The company, which reported earnings on Thursday, attributed its dip in profit to costs for transmission; operations and maintenance; and taxes and interest.

The company also lowered full-year earnings projections to between $1.35 and $1.45 per share, saying the change was due to mild weather and a weak wholesale market. Previously, annual earnings were projected to be between $1.35 and $1.60.

Read more from the Kansas City Star

Tags:, , , , ,

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students