Economic Growth and Energy Demand - Kentucky is experiencing record-breaking economic growth, leading to increased job opportunities, tourism, and tax revenue [1][2] - The unprecedented economic growth and interest in data centers are driving a greater need for electricity [2][3] Utility Companies' Response - Louisville Gas and Electric Company (LG&E) and Kentucky Utilities Company (KU), subsidiaries of PPL Corporation, have requested approval for additional generation capacity and battery storage from the Kentucky Public Service Commission [2][4] - The companies are proposing significant investments to meet the growing energy demand, including the construction of new generating units and battery storage [3][9] Future Energy Capacity - LG&E and KU are in discussions with various businesses that could require up to 8,000 megawatts of generation capacity, more than double their current demand [3][4] - The companies plan to install 400 megawatts of battery energy storage and upgrade environmental controls to reduce emissions [5][9] Timeline for New Projects - The first new generating unit, Brown 12, is expected to be operational by 2030, followed by Mill Creek 6 in 2031 [4][6] - The battery storage and emissions reduction projects are anticipated to be completed by 2028 [5][9] Customer Service and Market Position - LG&E and KU serve over 1.3 million customers and have been recognized for their customer service excellence [7]

Core Viewpoint - PPL Corporation is positioned as a U.S.-focused energy company following the divestiture of its international operations, with a bullish trend indicated by its trading above key moving averages [1][3] Group 1: Financial Performance and Stock Trends - PPL's stock closed at $34.98 on February 25, with a 33.4% increase over the past year, outperforming the industry average of 24.5% and the S&P 500's growth of 18.4% [3] - The company has a forward 12-month P/E ratio that indicates it is trading at a premium compared to its industry [14] - PPL's trailing 12-month return on equity is 8.88%, which is lower than the industry average of 10.87% [17] Group 2: Capital Investment and Infrastructure - PPL has a long-term capital expenditure plan of $20 billion for the 2025-2028 period aimed at strengthening its infrastructure for energy generation, transmission, and distribution [5] - Over 60% of PPL's capital investment plan is subject to "contemporaneous recovery," allowing for quicker recovery of capital expenditures and reducing regulatory lag on earnings [6] - The company has achieved cumulative annual O&M savings of $130 million from a 2021 baseline and aims to reduce expenses by at least $175 million by 2026 [7] Group 3: Demand Drivers and Market Opportunities - The service regions in Pennsylvania and Kentucky are experiencing increased demand from data centers, with new requests for 48 gigawatts (GW) and 6 GW respectively over the 2026-2034 period [8] - Electric sales volume in Pennsylvania and Kentucky saw year-over-year increases of 1.1% and 1.2% in 2024, respectively, driven by new data center connections [9] Group 4: Strategic Initiatives - PPL is implementing a "Utility of the Future" strategy, which includes IT transformation and enhanced engineering standards to improve service resilience against weather and storm risks [10] - The company plans to increase dividends annually by 6-8% through at least 2028, with a recent quarterly dividend rate raised by 6% to 27.25 cents, resulting in an annual dividend of $1.09 per share [12]

Core Insights - PPL reported $2.21 billion in revenue for Q4 2024, an 8.9% year-over-year increase, but EPS decreased to $0.34 from $0.40 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate by 5.59%, while the EPS fell short by 8.11% [1] Revenue Performance - Pennsylvania Regulated revenues were $717 million, slightly below the average estimate of $742.64 million, reflecting a 0.6% year-over-year increase [4] - Rhode Island Regulated revenues reached $631 million, significantly above the average estimate of $509.35 million, marking a 27.2% year-over-year increase [4] - Kentucky Regulated revenues were $864 million, slightly above the average estimate of $850.25 million, with a year-over-year increase of 5.2% [4] Stock Performance - PPL shares have returned 7.5% over the past month, outperforming the Zacks S&P 500 composite's 3.9% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Financial Data and Key Metrics Changes - PPL Corporation reported ongoing earnings of $1.69 per share for 2024, slightly below the increased guidance of $1.70 per share due to mild weather in December [10][37] - GAAP earnings for Q4 2024 were $0.24 per share, compared to $0.15 per share in Q4 2023, while annual GAAP earnings for 2024 were $1.20 per share, up from $1.00 per share in 2023 [36][37] - The company achieved cumulative annual O&M savings of $130 million from a 2021 baseline, with expectations to reach at least $175 million through 2026 [11][16] Business Line Data and Key Metrics Changes - Kentucky segment results were flat compared to Q4 2023, driven by higher sales volumes offset by increased operating costs [38] - Pennsylvania segment results were also flat, with higher transmission revenues countered by increased operating costs, including vegetation management [39] - Rhode Island segment results decreased by $0.03 per share due to lower transmission and distribution revenues [40] Market Data and Key Metrics Changes - The company anticipates a 7% growth in ongoing earnings forecast for 2025, with a range of $1.75 to $1.87 per share [12] - The updated capital plan includes $20 billion in expected infrastructure investments from 2025 to 2028, compared to $14.3 billion in the prior plan [13][14] - The company expects average annual rate base growth of 9.5% to 10% through 2028, up from 6.3% in the previous plan period [14][52] Company Strategy and Development Direction - PPL Corporation is focused on becoming more efficient and keeping energy affordable, with a strategy to balance reliability and cost for customers [9][15] - The company has restructured its business to enhance operational efficiencies and drive continuous improvement [18] - A significant emphasis is placed on advancing a cleaner energy mix while maintaining reliability and affordability [14][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the updated business plan, which supports long-term earnings and dividend growth [12][60] - The company remains focused on improving operational efficiency to support customer affordability, with expectations that average bill increases will remain within the rate of inflation [101][102] - Management highlighted the importance of regulatory developments in Pennsylvania and Kentucky for future growth and resource adequacy [90][104] Other Important Information - A quarterly common stock dividend of 27.25 cents per share was announced, representing a 6% increase from the previous dividend [17][58] - The company is committed to supporting economic development in its service territories, particularly through data center growth [23][34] Q&A Session Summary Question: Update on Kentucky CPCN and capital investment - Management confirmed that the updated capital plan includes $2.5 billion for generation, with CPCN filings expected by the end of Q1 and a decision anticipated by Q4 [66][70] Question: Equity issuance timing and structure - Management indicated flexibility in timing equity issuances, estimating $400 to $500 million this year, with potential for other equity-like financing structures [73][76] Question: Resource adequacy in Pennsylvania - Management discussed ongoing legislative efforts and the potential for utilities to invest in generation resources, emphasizing the importance of energy policy [90][92] Question: Customer bills and affordability - Management reiterated a focus on affordability, stating that operational efficiencies will help keep average bill increases within inflation rates [101][102] Question: Rate base growth and earnings trajectory - Management explained that while rate base growth is accelerating, earnings growth may not immediately reflect this due to equity financing needs [126][127]

PPL Corporation (PPL) reported fourth-quarter 2024 operating earnings per share (EPS) of 34 cents, which missed the Zacks Consensus Estimate of 37 cents by 8.1%. In the year-ago quarter, earnings were 40 cents per share.On a GAAP basis, PPL recorded EPS of 24 cents compared with 15 cents in the year-ago quarter.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.PPL’s RevenuesTotal revenues of $2.21 billion surpassed the Zacks Consensus Estimate of $2.09 billion by 5.6%. The top line incr ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from _________ to ___________ | Commission File | Registrant; State of Incorporation; | IRS Employer | | --- | --- | --- | | Number | Address and Telephone Numbe ...

Management utilizes non-GAAP financial measures such as "earnings from ongoing operations" or "ongoing earnings" in this presentation. For additional information on non-GAAP financial measures and reconciliations to the appropriate GAAP measure, refer to the Appendix of this presentation and PPL's SEC filings. 2 Business Update Vince Sorgi President & Chief Executive Officer 4 th QUARTER 2024 INVESTOR UPDATE 4 th Quarter 2024 Investor Update February 13, 2025 PPL CORPORATION Cautionary Statements and Factor ...

PPL (PPL) came out with quarterly earnings of $0.34 per share, missing the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.40 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -8.11%. A quarter ago, it was expected that this energy and utility holding company would post earnings of $0.39 per share when it actually produced earnings of $0.42, delivering a surprise of 7.69%.Over the last four quarters, ...

Exhibit 99.1 news release www.pplnewsroom.com Contacts: For news media: Ryan Hill, 610-774-4033 For financial analysts: Andy Ludwig, 610-774-3389 PPL Corporation reports 2024 earnings results; updates business plan and extends growth targets through 2028 ALLENTOWN, Pa. (Feb. 13, 2025) – PPL Corporation (NYSE: PPL) today announced 2024 reported earnings (GAAP) of $888 million, or $1.20 per share, compared with 2023 reported earnings of $740 million, or $1.00 per share. Adjusting for special items, 2024 earni ...

Core Points - PPL Corporation reported 2024 earnings of $888 million, or $1.20 per share, a 20% increase from 2023 earnings of $740 million, or $1.00 per share [1] - Adjusted earnings from ongoing operations for 2024 were $1.25 billion, or $1.69 per share, compared to $1.18 billion, or $1.60 per share in 2023, reflecting a 6% increase [1][2] - The company achieved its targeted earnings per share and dividend growth, completing over $3 billion in infrastructure investments [3][5] Financial Performance - Fourth-quarter 2024 reported earnings were $177 million, or $0.24 per share, up 57% from $113 million, or $0.15 per share in the fourth quarter of 2023 [2] - Adjusted fourth-quarter earnings from ongoing operations were $256 million, or $0.34 per share, down from $299 million, or $0.40 per share in the same quarter of 2023 [2][21] - The company achieved cumulative annual O&M savings of $120-$130 million in 2024, building on $75 million in savings from 2023 [6][12] Strategic Initiatives - PPL completed $3.1 billion in planned capital investments in 2024 to enhance grid resilience and advance a cleaner energy mix [5][10] - The company successfully integrated Rhode Island Energy into its operations, completing the transition services established during the acquisition [7] - PPL's updated business plan includes a forecasted earnings range of $1.75 to $1.87 per share for 2025, representing a 7% increase over the 2024 forecast midpoint [8][29] Growth Projections - PPL extended its annual EPS and dividend growth targets of 6% to 8% through at least 2028, with EPS growth expected in the top half of the range [9][11] - Planned infrastructure investments were increased to $20 billion from 2025 to 2028, resulting in an average annual rate base growth of 9.8% [10] - The company anticipates maintaining a strong balance sheet with projected equity needs of $2.5 billion over the plan period [11][12] Segment Performance - The Kentucky Regulated segment reported earnings of $0.83 per share in 2024, up from $0.75 in 2023 [16] - The Pennsylvania Regulated segment also saw an increase in earnings, reporting $0.78 per share in 2024 compared to $0.70 in 2023 [22] - The Rhode Island Regulated segment's earnings increased to $0.15 per share in 2024 from $0.13 in 2023, driven by higher distribution and transmission revenue [24]