Great Plains Energy Inc. (GXP, Financial) filed Quarterly Report for the period ended 2010-06-30.
Great Plains Energy Inc. has a market cap of $2.5 billion; its shares were traded at around $18.44 with a P/E ratio of 16.5 and P/S ratio of 1.3. The dividend yield of Great Plains Energy Inc. stocks is 4.5%.GXP is in the portfolios of HOTCHKIS & WILEY of HOTCHKIS & WILEY Capital Management LLC, Jim Simons of Renaissance Technologies LLC, Murray Stahl of Horizon Asset Management, George Soros of Soros Fund Management LLC.
Great Plains Energy s earnings available for common shareholders year to date June 30, 2010, were $83.8 million or $0.61 per share compared to $54.6 million, or $0.44 per share, for the same period in 2009. Electric utility s net income increased $46.4 million year to date June 30, 2010, compared to the same period in 2009 primarily driven by an increase in gross margin due to new retail rates, favorable weather, and an increase in weather-normalized customer usage. Partially offsetting the increase in gross margin was higher operations and maintenance expense driven by planned plant outages, increased depreciation and amortization expense due to additional regulatory amortization pursuant to KCP&L s 2009 rate cases and depreciation from placing the Iatan No. 1 environmental equipment in service in April 2009 and increased general taxes. Great Plains Energy s corporate and other activities had a loss of $12.8 million year to date June 30, 2010, compared to income of $7.5 million for the same period in 2009. Year to date June 30, 2010, reflects $7.0 million of after-tax interest expense for Equity Units issued in May 2009 and year to date June 30, 2009, reflects a $16.0 million tax benefit due to the settlement of GMO s 2003-2004 tax audit. Additionally, year to date June 30, 2009, includes a $3.1 million loss from the discontinued operations of Strategic Energy.
Great Plains Energy s earnings available for common shareholders for the three months ended June 30, 2010, increased to $63.9 million, or $0.47 per share, from $33.3 million, or $0.26 per share for the same period in 2009.
Great Plains Energy s corporate and other activities had an additional $1.4 million loss for the three months ended June 30, 2010, compared to the same period in 2009 primarily due to an additional $2.4 million of after-tax interest expense for Equity Units issued in May 2009.
Great Plains Energy s earnings available for common shareholders year to date June 30, 2010, increased to $83.8 million, or $0.61 per share, from $54.6 million, or $0.44 per share for the same period in 2009.
Great Plains Energy s corporate and other activities had a loss of $12.8 million year to date June 30, 2010, compared to income of $7.5 million for the same period in 2009. Year to date June 30, 2010, reflects an additional $7.0 million of after-tax interest expense for Equity Units issued in May 2009 and year to date June 30, 2009, reflects a $16.0 million tax benefit due to the settlement of GMO s 2003-2004 tax audit.
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Great Plains Energy Inc. has a market cap of $2.5 billion; its shares were traded at around $18.44 with a P/E ratio of 16.5 and P/S ratio of 1.3. The dividend yield of Great Plains Energy Inc. stocks is 4.5%.GXP is in the portfolios of HOTCHKIS & WILEY of HOTCHKIS & WILEY Capital Management LLC, Jim Simons of Renaissance Technologies LLC, Murray Stahl of Horizon Asset Management, George Soros of Soros Fund Management LLC.
Highlight of Business Operations:
Great Plains Energy s earnings available for common shareholders for the three months ended June 30, 2010, were $63.9 million or $0.47 per share compared to $33.3 million, or $0.26 per share, for the same period in 2009. Electric utility s net income increased $28.9 million for the three months ended June 30, 2010, compared to the same period in 2009 primarily driven by an increase in gross margin due to new retail rates and favorable weather. Gross margin is a financial measure that is not calculated in accordance with GAAP. See the explanation of gross margin and the reconciliation to GAAP operating revenues under Great Plains Energy s Results of Operations for further information. Partially offsetting the increase in gross margin was higher operations and maintenance expense driven by planned plant outages, increased depreciation and amortization expense due to additional regulatory amortization pursuant to KCP&L s 2009 rate cases and depreciation from placing the Iatan No. 1 environmental equipment in service in April 2009 and increased general taxes.Great Plains Energy s earnings available for common shareholders year to date June 30, 2010, were $83.8 million or $0.61 per share compared to $54.6 million, or $0.44 per share, for the same period in 2009. Electric utility s net income increased $46.4 million year to date June 30, 2010, compared to the same period in 2009 primarily driven by an increase in gross margin due to new retail rates, favorable weather, and an increase in weather-normalized customer usage. Partially offsetting the increase in gross margin was higher operations and maintenance expense driven by planned plant outages, increased depreciation and amortization expense due to additional regulatory amortization pursuant to KCP&L s 2009 rate cases and depreciation from placing the Iatan No. 1 environmental equipment in service in April 2009 and increased general taxes. Great Plains Energy s corporate and other activities had a loss of $12.8 million year to date June 30, 2010, compared to income of $7.5 million for the same period in 2009. Year to date June 30, 2010, reflects $7.0 million of after-tax interest expense for Equity Units issued in May 2009 and year to date June 30, 2009, reflects a $16.0 million tax benefit due to the settlement of GMO s 2003-2004 tax audit. Additionally, year to date June 30, 2009, includes a $3.1 million loss from the discontinued operations of Strategic Energy.
Great Plains Energy s earnings available for common shareholders for the three months ended June 30, 2010, increased to $63.9 million, or $0.47 per share, from $33.3 million, or $0.26 per share for the same period in 2009.
Great Plains Energy s corporate and other activities had an additional $1.4 million loss for the three months ended June 30, 2010, compared to the same period in 2009 primarily due to an additional $2.4 million of after-tax interest expense for Equity Units issued in May 2009.
Great Plains Energy s earnings available for common shareholders year to date June 30, 2010, increased to $83.8 million, or $0.61 per share, from $54.6 million, or $0.44 per share for the same period in 2009.
Great Plains Energy s corporate and other activities had a loss of $12.8 million year to date June 30, 2010, compared to income of $7.5 million for the same period in 2009. Year to date June 30, 2010, reflects an additional $7.0 million of after-tax interest expense for Equity Units issued in May 2009 and year to date June 30, 2009, reflects a $16.0 million tax benefit due to the settlement of GMO s 2003-2004 tax audit.
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