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Great Plains Energy
Great Plains Energy Reports Second Quarter Results



Aug 10, 2017

Great Plains Energy (NYSE: GXP) announced a second quarter 2017 loss of $22.1 million or $0.10 per share of average common stock outstanding, compared with second quarter 2016 earnings of $31.6 million or $0.20 per share. For the first six months of 2017, Great Plains Energy reported a loss of $46.8 million or $0.22 per share, compared to earnings of $57.6 million or $0.37 per share for the same period in 2016.

Great Plains Energy's adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) exclude certain costs, expenses, gains, losses and the per share dilutive effect of equity issuances resulting from the anticipated merger with Westar and the previous plan to acquire Westar. Adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) were $67.0 million and $0.43, respectively, in the second quarter of 2017 compared with $85.6 million and $0.55, respectively, in the second quarter of 2016. For the first six months of 2017, Great Plains Energy's adjusted earnings (non-GAAP) were $86.9 million or $0.56 per share, compared with earnings of $111.6 million or $0.72 per share for the same period in 2016. Adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) are reconciled to GAAP earnings in the financial tables included in this release.

"Our financial performance for the second quarter was in line with our expectations, as solid operational performance helped overcome the impacts of milder weather," said Terry Bassham, chairman and chief executive officer of Great Plains Energy.

Bassham continued, "Our recently announced merger of equals with Westar Energy provides a compelling opportunity to deliver value for our shareholders and best in class service for our customers. Together, we will create a leading Midwest energy company where the many strategic benefits of our combination will create a stronger company for our customers and communities and position us to generate more value for shareholders than we could alone. We continue to work toward completing the transaction and remain confident in a timely closing in the first half of 2018."

Click here to read the full press release.
 

For more information:

Organization:
Great Plains Energy Incorporated

Address:
1200 Main St
Kansas City, Missouri
United States, 64141-9679
www.greatplainsenergy.com
Tel: 816-556-2200


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