Great Plains Energy on Thursday said revenue and profits climbed in the first quarter despite warmer winter weather.
The parent company of Kansas City Power & Light reported operating revenues of $572.1 million for the three months that ended March 31, up from $549.1 million in the same period a year earlier.
Net income for the quarter climbed to $26.4 million from $18.9 million in the first quarter of 2015. New electricity rates that kicked in last fall in Kansas and Missouri contributed to the first-quarter profit increase.
Great Plains said that overall retail power sales were down 5.3 percent in the quarter from a year earlier “with the decrease driven by weather.”
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The company also affirmed its 2016 earnings guidance range of $1.65 to $1.80 per share.
Steve Rosen: 816-234-4879