Core Viewpoint - PPL Corporation reported strong second-quarter 2024 operating earnings, exceeding expectations, while total revenues slightly missed estimates, indicating a mixed performance in financial results. Financial Performance - Operating earnings per share (EPS) for Q2 2024 were 38 cents, surpassing the Zacks Consensus Estimate of 31 cents by 22.6% and increasing 31% from 29 cents in the same quarter last year [1] - Total revenues amounted to $1.88 billion, missing the Zacks Consensus Estimate of $1.91 billion by 1.7%, but reflecting a 3.2% increase from $1.82 billion year-over-year [2] - Operating income reached $390 million, up 27.9% from $305 million in the prior year [3] Segment Performance - Pennsylvania Regulated segment reported adjusted EPS of 21 cents, a 40% increase from 15 cents year-over-year, driven by higher sales volumes and transmission revenues [5] - Kentucky Regulated segment achieved adjusted EPS of 18 cents, up 50% from 12 cents, attributed to increased sales volumes due to weather and lower operating costs [5] - Rhode Island Regulated segment maintained adjusted EPS at 1 cent, with higher distribution revenues offset by increased operating costs [6] Expenses and Financial Position - Total operating expenses decreased to $1.49 billion, down 1.8% from $1.52 billion year-over-year, primarily due to reduced energy purchase expenses [3] - Interest expense rose to $182 million, a 10.3% increase from $165 million in Q2 2023 [4] - As of June 30, 2024, cash and cash equivalents were $282 million, down from $331 million at the end of 2023, while long-term debt increased to $15.8 billion from $14.6 billion [7] Guidance and Future Outlook - PPL reiterated its 2024 EPS guidance of $1.63-$1.75, with the Zacks Consensus Estimate at $1.70, slightly above the midpoint of the guidance [8] - The company expects a long-term annual earnings growth rate of 6-8% through 2027 [8] - Capital expenditure for 2024 to 2027 is restated at $14.3 billion, with anticipated O&M savings of at least $175 million by 2026 [9] Market Position - PPL currently holds a Zacks Rank 2 (Buy), indicating a favorable market position [10]

Financial Performance - Operating revenues for Q2 2024 were $1,881 million, an increase from $1,823 million in Q2 2023, representing a growth of 3.2%[38] - Operating income for the first half of 2024 was $935 million, compared to $803 million in the same period of 2023, reflecting a 16.4% increase[38] - Net income for Q2 2024 was $190 million, up from $112 million in Q2 2023, marking a significant increase of 69.6%[38] - Earnings per share (EPS) for Q2 2024 were $0.26, compared to $0.15 in Q2 2023, indicating a growth of 73.3%[38] - For the six months ended June 30, 2024, net income was $497 million, up from $397 million in the same period last year, reflecting a 25% growth[42] - Net income for the six months ended June 30, 2024, was $299 million, an increase from $248 million for the same period in 2023, representing a growth of 20.6%[54] - Net income for the three months ended June 30, 2024, was $62 million, compared to $45 million for the same period in 2023, showing a growth of 37.8%[65] - Net income for the Kentucky Regulated segment increased to $134 million for the three months ended June 30, 2024, compared to $91 million for the same period in 2023, representing a growth of 47.3%[97] - The total net income for PPL Electric was $190 million for the three months ended June 30, 2024, compared to $112 million for the same period in 2023, representing a significant increase of 69.6%[97] - Net income for the six months ended June 30, 2024, increased to $155 million, up from $131 million in the same period last year, representing a growth of approximately 18.3%[69] Operating Expenses - Total operating expenses decreased to $1,491 million in Q2 2024 from $1,518 million in Q2 2023, a reduction of 1.8%[38] - Total operating expenses for the three months ended June 30, 2024, were $437 million, down from $474 million in the same period of 2023, indicating a decrease of 7.8%[50] - Total Operating Expenses for Q2 2024 were $338 million, slightly down from $340 million in Q2 2023[79] - Total operating expenses decreased to $265 million from $273 million year-over-year, a reduction of 2.9%[65] Cash Flow and Investments - Cash provided by operating activities for the six months ended June 30, 2024, was $1,048 million, compared to $842 million for the same period in 2023, indicating a 24% increase[42] - Cash provided by operating activities for the six months ended June 30, 2024, was $353 million, up from $236 million in the same period in 2023, marking a growth of 49.8%[54] - The company’s net cash used in investing activities for the six months ended June 30, 2024, was $1,020 million, compared to $398 million in the same period of 2023, indicating a significant increase in investment outflows[54] - Cash provided by Operating Activities for the six months ended June 30, 2024, was $352 million, an increase from $298 million in the same period last year[82] Assets and Liabilities - Total assets as of June 30, 2024, amounted to $39,839 million, an increase from $39,236 million at the end of 2023[44] - Current liabilities decreased to $2,515 million as of June 30, 2024, from $3,340 million at the end of 2023, showing a reduction of 25%[45] - Long-term debt increased to $15,756 million as of June 30, 2024, compared to $14,611 million at the end of 2023, marking an 8% rise[45] - Total equity rose to $14,065 million as of June 30, 2024, up from $13,933 million at the end of 2023, reflecting a 1% increase[45] - Total assets increased to $15,229 million as of June 30, 2024, up from $14,294 million at December 31, 2023, representing a growth of 6.5%[55] - Current assets rose significantly to $1,430 million, compared to $869 million at the end of 2023, marking a 64.5% increase[55] - Long-term debt increased to $5,212 million from $4,567 million, reflecting a rise of 14.1%[57] - Total equity grew to $6,698 million, up from $5,903 million, indicating an increase of 13.5%[57] Regulatory and Compliance - The company is focused on enhancing its energy efficiency programs and exploring new technologies to support sustainable growth[33] - The company is currently reviewing IRS Revenue Procedure 2023-15 to assess its impact on financial statements, which may affect accounting for expenses related to natural gas transmission and distribution property[120] - PPL does not anticipate a material impact on financial statements regarding prior or future credit transfers under the Inflation Reduction Act, as per the final regulations effective July 1, 2024[122] - The allowed return on equity (ROE) rate for Rhode Island activities is set at 9.275% based on a common equity ratio of approximately 51%[127] Debt and Financing - The company issued $649 million in long-term debt during the six months ended June 30, 2024, compared to $1,329 million in the same period of 2023[54] - PPL issued $650 million of 4.85% First Mortgage Bonds due 2034 in January 2024, receiving proceeds of $644 million for general corporate purposes[155] - The total capacity of PPL Capital Funding's syndicated credit facility is $1.25 billion, with $280 million in commercial paper outstanding as of June 30, 2024[152] - LG&E and KU's credit facilities include a $500 million syndicated credit facility expiring in December 2028, with $490 million unused capacity as of June 30, 2024[151] Revenue Sources - Total Operating Revenues for Q2 2024 reached $464 million, a 6.7% increase from $435 million in Q2 2023[79] - PPL's operating revenues for the six months ended June 30, 2024, were $4,238 million, compared to $4,269 million for the same period in 2023, reflecting a decrease of approximately 0.7%[104] - Revenues from contracts with customers for PPL Electric in the first six months of 2024 were $1,558 million, consistent with the same period in 2023[104] - PPL's residential revenues for the first six months of 2024 were $1,927 million, down from $2,079 million in 2023, a decrease of about 7.3%[106] - The Kentucky Regulated segment's revenues for the first six months of 2024 were $1,810 million, compared to $1,733 million in 2023, indicating an increase of about 4.4%[107] Environmental and Regulatory Costs - Storm damage costs accounted for $38 million as of June 30, 2024, up from $12 million in December 2023, showing a significant rise of 216.7%[123] - PPL Electric recorded a liability of $8 million for environmental remediation activities as of June 30, 2024[175] - PPL reported a recorded liability of $99 million for RIE's environmental remediation activities, expected to be incurred over approximately 30 years[177] - RIE has recovered amounts from certain insurers and may seek additional recovery, but the success of these efforts is uncertain[177] Miscellaneous Income and Expenses - Other Income (Expense) - net for the three months ended June 30, 2024, was $32 million, compared to $5 million in the same period of 2023, representing a significant increase[192] - Interest income for the six months ended June 30, 2024, decreased to $15 million from $17 million in 2023, reflecting a decline of approximately 11.76%[192] - Other Income (Expense) - net for the six months ended June 30, 2024, totaled $54 million, up from $35 million in 2023, indicating a rise of 54.29%[192] - Miscellaneous income for the three months ended June 30, 2024, was $1 million, compared to $(10) million in the same period of 2023, showing a turnaround[192]

PPL CORPORATION 2 nd Quarter 2024 Investor Update August 2, 2024 Cautionary Statements and Factors That May Affect Future Results Statements made in this presentation about future operating results or other future events are forward-looking statements under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the forward-looking statements. A discussion of some of the factors that could cause actual results or events to vary is contain ...

PPL (PPL) reported $1.88 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 3.2%. EPS of $0.38 for the same period compares to $0.29 a year ago. The reported revenue represents a surprise of -1.71% over the Zacks Consensus Estimate of $1.91 billion. With the consensus EPS estimate being $0.31, the EPS surprise was +22.58%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their nex ...

PPL (PPL) came out with quarterly earnings of $0.38 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.29 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 22.58%. A quarter ago, it was expected that this energy and utility holding company would post earnings of $0.52 per share when it actually produced earnings of $0.54, delivering a surprise of 3.85%. Over the last four quarter ...

Earnings Performance - PPL Corporation reported second-quarter 2024 earnings of $190 million, or $0.26 per share, a 70% increase from $112 million, or $0.15 per share in Q2 2023[2]. - Ongoing earnings per share for Q2 2024 were $0.38, up 31% from $0.29 in Q2 2023, with ongoing earnings from operations totaling $282 million[2][4]. - For the first six months of 2024, reported earnings were $497 million, or $0.67 per share, a 25% increase from $397 million, or $0.54 per share in the same period of 2023[2][4]. - Reported earnings for the second quarter of 2024 were $190 million, with ongoing operations earnings of $282 million after accounting for special items[23]. - The company reported earnings per share of $0.26 for the second quarter of 2024, with ongoing operations earnings per share of $0.38[24]. - Year-to-date earnings from ongoing operations as of June 30, 2024, were $684 million, reflecting a strong performance across segments[25]. - Reported earnings for the year-to-date June 30, 2023, totaled $397 million, with earnings from ongoing operations at $567 million[29]. Special Items and Adjustments - The second quarter of 2024 included net special-item after-tax charges of $92 million, or $0.12 per share, compared to $103 million, or $0.14 per share in Q2 2023[7]. - Special items reduced total earnings by $187 million year-to-date, primarily due to acquisition integration costs and strategic corporate initiatives[25]. - Special items reduced total earnings by $170 million, with significant impacts from acquisition integration costs of $134 million and other non-recurring charges[29]. - Special items for the 2024 forecast are expected to total $0.25 per share, primarily due to acquisition integration and strategic corporate initiatives[31]. Revenue and Sales Growth - Operating revenues for Q2 2024 were $1,881 million, an increase from $1,823 million in Q2 2023, representing a growth of 3.2%[20]. - Total electricity sales for the company increased by 7.2% year-over-year for the three months ended June 30, 2024, amounting to 15,875 GWh[22]. - Retail electricity sales in the PA regulated segment increased by 6.2% year-over-year for the three months ended June 30, 2024, reaching 8,587 GWh[22]. - KY regulated segment retail electricity sales rose by 8.1% year-over-year for the same period, totaling 7,158 GWh[22]. - The company experienced a 36.8% increase in wholesale electricity sales in the KY regulated segment for the three months ended June 30, 2024, totaling 130 GWh[22]. Cost Management and Savings - PPL aims for annual operation and maintenance savings of at least $175 million by 2026, with cumulative savings of $120-$130 million planned by the end of 2024[2]. - Total operating expenses for Q2 2024 were $1,491 million, a decrease from $1,518 million in Q2 2023, showing a reduction of 1.8%[20]. Future Outlook and Forecast - PPL reaffirmed its 2024 ongoing earnings forecast range of $1.63 to $1.75 per share, with a midpoint of $1.69 per share[2][13]. - The company expects annual earnings and dividend growth of 6% to 8% through at least 2027, based on the midpoint of its 2024 ongoing earnings forecast[2][13]. - The forecast for reported earnings in 2024 is set at a midpoint of $1.44 per share, with a range between $1.38 and $1.50[31]. - The company anticipates earnings from ongoing operations in 2024 to be between $1.63 and $1.75 per share[31]. Capital Expenditures and Investments - Capital expenditures for property, plant, and equipment were $1,266 million for the six months ended June 30, 2024, up from $1,090 million in the same period of 2023, representing a rise of 16.1%[21]. - PPL's infrastructure investments are projected at $14.3 billion through 2027, focusing on enhancing energy networks and deploying smart grid technology[2]. Financial Position - The company reported a net cash provided by operating activities of $1,048 million for the six months ended June 30, 2024, compared to $842 million for the same period in 2023, indicating a 24.5% increase[21]. - The total assets of PPL Corporation as of June 30, 2024, were $39,839 million, an increase from $39,236 million at the end of 2023, reflecting a growth of 1.5%[19]. - Long-term debt increased to $15,756 million as of June 30, 2024, compared to $14,611 million at the end of 2023, marking an increase of 7.8%[19]. - The company’s cash and cash equivalents at the end of the period were $324 million, a slight decrease from $327 million at the end of June 2023[21]. - PPL Corporation's regulatory assets increased to $335 million as of June 30, 2024, from $293 million at the end of 2023, indicating a growth of 14.3%[19]. Strategic Initiatives - The company is focused on strategic corporate initiatives and acquisition integration to enhance operational efficiency and market position[27]. - The integration costs associated with the acquisition of Rhode Island Energy are a significant factor in both current and future earnings[31]. - User data indicates a stable performance across regions, with Kentucky reporting earnings of $263 million and Pennsylvania $254 million[29].

In the latest trading session, PPL (PPL) closed at $29.17, marking a +1.39% move from the previous day. The stock outpaced the S&P 500's daily loss of 2.32%. Elsewhere, the Dow lost 1.25%, while the tech-heavy Nasdaq lost 3.64%. Analysts and investors alike will be keeping a close eye on the performance of PPL in its upcoming earnings disclosure. The company's earnings report is set to go public on August 2, 2024. It is anticipated that the company will report an EPS of $0.31, marking a 6.9% rise compared t ...

PPL (PPL) closed the most recent trading day at $29, moving +1.33% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 1.08%. Elsewhere, the Dow gained 0.32%, while the tech-heavy Nasdaq added 1.58%. The energy and utility holding company's shares have seen an increase of 2.36% over the last month, surpassing the Utilities sector's gain of 0.61% and the S&P 500's gain of 0.43%. The investment community will be paying close attention to the earnings perform ...

Utility companies operating in the United States are taking measures to further strengthen their infrastructure, including the process of generation, transmission, distribution, storage and sale of electricity to customers. In this blog, we run a comparative analysis on two Zacks Utility — Electric Power companies —NiSource (NI) and PPL Corporation (PPL) — to decide which one is a better pick for your portfolio. Utilities continue to benefit from various favorable factors, such as new electric rates, custom ...

ALLENTOWN, Pa., July 16, 2024 /PRNewswire/ -- PPL Corporation (NYSE:PPL) will release consolidated second-quarter 2024 earnings results on Friday, August 2. For those who are unable to listen to the live webcast, a replay with slides will be accessible at www.pplweb.com/investors for 90 days after the call. PPL Corporation (NYSE:PPL), based in Allentown, Pennsylvania, is a leading U.S. energy company focused on providing electricity and natural gas safely, reliably and affordably to more than 3.5 million cu ...