TOPEKA, Kan., May 3, 2016 - Westar Energy, Inc. (NYSE:WR) today announced earnings of $66 million, or $0.46 per share, for the first quarter 2016 compared with earnings of $51 million, or $0.38 per share, for the first quarter 2015.

                Higher net income for the quarter, compared with last year, was driven by the impact of last fall's rate order which recovered the costs of mandated air quality controls, higher corporate owned life insurance proceeds, lower distribution system expenses, and lower operating and maintenance costs as a result of the company retiring some of its older, smaller generating plants late last year.  The higher revenues were partially offset by the effects of unusually mild weather.

Earnings Guidance
                The company affirmed its 2016 earnings guidance of $2.38 to $2.53 per share. The earnings guidance drivers are located under Supplemental Materials within the investor sectionof the company website at www.WestarEnergy.com.

Conference Call and Additional Company Information
                Westar Energy management will host a conference call Wednesday, May 4 with the investment community at 10 a.m. ET (9 a.m. CT).  Investors, media and the public may listen to the conference call by dialing 866-411-8234, participant code 86800330. 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 Jana Dawson with any follow-up questions.

                This earnings announcement, a package of detailed first quarter financial information, the company's quarterly report on Form 10-Q for the period ended Mar. 31, 2016 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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                Westar Energy, Inc. (NYSE: WR) is Kansas' largest electric utility. For more than a century, we have provided Kansans the safe, reliable electricity needed to power their businesses and homes. Every day our team of professionals takes on projects to generate and deliver electricity, protect the environment and provide excellent service to our nearly 700,000 customers. Westar has 7,200 MW of electric generation capacity fueled by coal, uranium, natural gas, wind and landfill gas. We are also a leader in electric transmission in Kansas. Our innovative customer service programs include mobile-enabled customer care, digital meters and paving the way for electric vehicle adoption. 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, 2015 (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 13 and 15; (2) those discussed in the company's Quarterly Report on Form 10-Q filed May 3, 2016, (a) in ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations and (b) in Part I, Financial Information, ITEM 1. Financial Statements: Notes 10 and 11; 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 Contact:
Jana Dawson
Director, corporate communications
Phone: 785-575-1975
Jana.Dawson@westarenergy.com
Media line: 888-613-0003

Investor Contact:
Cody VandeVelde
Director, investor relations
Phone: 785-575-8227
Cody.VandeVelde@westarenergy.com


Westar Energy, Inc.
Condensed Consolidated Statements of Income
(Unaudited)

  Three Months Ended Mar. 31,
  2016   2015   Change   % Change
  (Dollars In Thousands, Except Per Share Amounts)
REVENUES:              
Residential  $ 179,290     $ 181,294     $ (2,004)     (1.1)  
Commercial  165,673     161,305     4,368     2.7  
Industrial  100,697     96,479     4,218     4.4  
Other retail  (14,381)     539     (14,920)     nm
Total Retail Revenues  431,279     439,617     (8,338)     (1.9)  
Wholesale  67,412     86,755     (19,343)     (22.3)  
Transmission  63,915     58,585     5,330     9.1  
Other  6,844     5,850     994     17.0  
Total Revenues  569,450     590,807     (21,357)     (3.6)  
OPERATING EXPENSES:              
Fuel and purchased power 100,058     155,482     (55,424)     (35.6)  
SPP network transmission costs  60,760     56,812     3,948     6.9  
Operating and maintenance  77,757     85,080     (7,323)     (8.6)  
Depreciation and amortization  83,640     74,586     9,054     12.1  
Selling, general and administrative 56,456     55,418     1,038     1.9  
Taxes other than income tax  48,968     37,871     11,097     29.3  
Total Operating Expenses  427,639     465,249     (37,610)     (8.1)  
INCOME FROM OPERATIONS  141,811     125,558     16,253     12.9  
OTHER INCOME (EXPENSE):              
Investment earnings  2,016     2,480     (464)     (18.7)  
Other income  9,477     2,814     6,663     236.8  
Other expense  (5,543)     (5,713)     170     3.0  
Total Other Income (Expense)  5,950     (419)     6,369     nm
Interest expense  40,431     44,298     (3,867)     (8.7)  
INCOME BEFORE INCOME TAXES  107,330     80,841     26,489     32.8  
Income tax expense  38,622     27,678     10,944     39.5  
NET INCOME  68,708     53,163     15,545     29.2  
Less: Net income attributable to noncontrolling interests 3,123     2,183     940     43.1  
NET INCOME ATTRIBUTABLE TO COMMON STOCK  $ 65,585     $ 50,980     $ 14,605     28.6  
BASIC AND DILUTED EARNINGS PER AVERAGE COMMON SHARE OUTSTANDING ATTRIBUTABLE TO WESTAR ENERGY, INC. (See 10-Q Note 2):              
Basic earnings per common share  $ 0.46     $ 0.38     $ 0.08     21.1  
Diluted earnings per common share $ 0.46     $ 0.38     $ 0.08     21.1  
AVERAGE EQUIVALENT COMMON SHARES OUTSTANDING (in thousands):              
Basic  141,993     132,395     9,598     7.2  
Diluted  142,311     135,540     6,771     5.0  
DIVIDENDS DECLARED PER COMMON SHARE  $ 0.38     $ 0.36     $ 0.02     5.6  
Effective income tax rate  36 %   34 %        
nm - not meaningful



This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Westar Energy, Inc. via Globenewswire
HUG#2009158
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