PPL Corporation Earnings Recaps
Q1 2026
May 10, 2026
Shares declined 2.3% following the earnings release, reflecting investor caution despite reaffirmed guidance and ongoing operational progress, likely due to concerns over regulatory uncertainties and limited near-term growth catalysts.
Key takeaways
- Reported first quarter GAAP EPS was $0.60, with adjusted ongoing EPS of $0.63, consistent with expectations.
- Reaffirmed 2026 ongoing earnings guidance of $1.90 to $1.98 per share, maintaining the midpoint at $1.94.
- Completed a constructive distribution base rate settlement in Pennsylvania, with less than 4% bill increases and a two-year stay-out.
- Regulatory risks remain in Kentucky, with ongoing reconsideration of base rate case decisions potentially delaying rate adjustments.
- Announced exploratory partnerships for innovative generation projects, including pumped storage hydro and small modular nuclear reactors, though these have no current impact on capital plans or near-term earnings.
Q3 2025
Nov 6, 2025
PPL Corporation reported a solid third quarter with adjusted earnings of $0.48 per share, signaling a positive trajectory as it narrows its full-year earnings forecast. The company remains committed to significant infrastructure investments and maintaining its strong credit profile.
Key takeaways
- Q3 GAAP earnings were $0.43 per share, with ongoing operations earnings at $0.48 per share; full-year earnings forecast narrowed to $1.78–$1.84 per share.
- PPL is undertaking $4.3 billion in infrastructure investments for the year, critical for future reliability and energy sustainability.
- The company anticipates 6% to 8% annual growth in EPS and dividends through at least 2028, with a focus on top-half EPS growth.
- Successful regulatory developments in Kentucky include a proposed $235 million revenue increase and new cost recovery mechanisms to support infrastructure investments.
- PPL projects a strong credit profile, maintaining an FFO to debt ratio of 16% to 18% and a holding company debt ratio below 25%.