LG&E's new utility partnership with Poe Companies and PowerHouse Data Centers sets stage for Kentucky's first hyperscale data center campusLOUISVILLE, Ky., Jan. 16, 2025 /PRNewswire/ -- Louisville Gas and Electric Company, a subsidiary of PPL Corporation, announced today its first hyperscale data center electric customer.A joint venture between PowerHouse Data Centers, a leading real estate developer for next-generation hyperscale data centers and division of American Real Estate Partners (AREP), and Poe Co ...

PPL Corp.’s (PPL) shares have rallied 24% year to date compared with Zacks Utility-Electric Power industry’s growth of 17.4%. The company continues to provide electricity and natural gas to its 3.5 million customers across the United States. In the same time period, PPL has also outperformed the Zacks Utilities sector. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.PPL has plans to invest $14.3 billion through 2027 to strengthen its infrastructure and prevent outages. The company i ...

Core Viewpoint - PPL Corporation is restructuring its leadership by eliminating the Chief Operating Officer role, with current COO Francis X. Sullivan retiring on April 4, 2025, and responsibilities being reassigned to David J. Bonenberger and Lonnie Bellar [1][2][3]. Leadership Changes - The COO position will be eliminated effective April 4, 2025, with Francis X. Sullivan retiring [1]. - David J. Bonenberger will take over as Executive Vice President and Chief Operating Officer-Utilities, while Lonnie Bellar will become Executive Vice President of Engineering, Construction and Generation [2]. - Both Bonenberger and Bellar will report directly to PPL President and CEO Vincent Sorgi [2]. Executive Background - Francis X. Sullivan has been with PPL as EVP and COO since January 2023 and has over 40 years of experience in the energy sector [6]. - David J. Bonenberger has been with PPL Electric Utilities since 1984 and previously served as President of Rhode Island Energy [5]. - Lonnie Bellar joined Kentucky Utilities in 1987 and has served as COO for LG&E and KU Energy [5]. Strategic Focus - The leadership transition aims to enhance PPL's strategy to create smarter, stronger, and cleaner utilities, ultimately delivering greater value to customers and shareholders [4]. - Bonenberger will oversee utility operations and customer service across PPL's utilities in Pennsylvania, Kentucky, Rhode Island, and Virginia, while Bellar will manage enterprise-wide engineering and construction services, energy supply, and environmental compliance [4].

Company Performance - PPL's stock closed at $31.68, reflecting a -0.16% change from the previous day's closing price, underperforming compared to the S&P 500's 0.16% gain [1] - Over the past month, PPL shares have decreased by 1.73%, while the Utilities sector and S&P 500 have lost 7.63% and 2.2%, respectively [1] Upcoming Earnings - PPL is expected to report an EPS of $0.39, which is a decline of 2.5% from the same quarter last year [2] - The Zacks Consensus Estimate for revenue is projected at $2.09 billion, indicating a 3.01% increase from the previous year [2] Analyst Forecasts - Recent revisions to analyst forecasts for PPL are crucial as they reflect changing business trends, with positive revisions indicating optimism about the company's profitability [3] Zacks Rank and Valuation - PPL currently holds a Zacks Rank of 3 (Hold), with the Zacks Consensus EPS estimate having increased by 0.4% in the past month [5] - The Forward P/E ratio for PPL is 17.31, which is higher than the industry average of 16.14, and the PEG ratio stands at 2.56, compared to the industry average of 2.52 [6] Industry Overview - The Utility - Electric Power industry, which includes PPL, has a Zacks Industry Rank of 146, placing it in the bottom 42% of over 250 industries [7] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]

PPL (PPL) ended the recent trading session at $31.73, demonstrating a -1.67% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.55%. On the other hand, the Dow registered a loss of 0.06%, and the technology-centric Nasdaq increased by 1.24%.Market participants will be closely following the financial results of PPL in its upcoming release. The company's earnings per share (EPS) are projected to be $0.39, reflecting a 2.5% decrease from the same quarte ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Let's take a look at what these Wall Street heavyweights have to say about PPL (PPL) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.PPL currently has an average brokerage recommendation (ABR) of 1.63, ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?Let's take a look at what these Wall Street heavyweights have to say about PPL (PPL) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.PPL currently has an average brokerage recommend ...

ALLENTOWN, Pa., Nov. 22, 2024 /PRNewswire/ -- PPL Corporation (NYSE: PPL) declared a quarterly common stock dividend on Friday, Nov. 22, 2024, of $0.2575 per share, payable Jan. 2, 2025 to shareowners of record as of Dec.10, 2024.About PPLPPL Corporation (NYSE: PPL), headquartered 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 customers in the U.S. PPL's high-performing, award-winning util ...

PPL Corporation (PPL) shares have gained 2.5% since it reported third-quarter 2024 results on Nov. 1. PPL reported third-quarter 2024 earnings of 42 cents per share, which surpassed the Zacks Consensus Estimate of 39 cents by 7.7%.The PPL stock closed at $32.34 on Nov. 7. In the past six months, the company’s shares have gained 13.8% compared with the industry’s 5.5% rally. PPL has also outperformed the Zacks Utilities sector’s return of 6.2%.PPL Price Performance (Six months)Image Source: Zacks Investment ...

Part I. Financial Information [Financial Statements](index=13&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for PPL Corporation and its key subsidiaries (PPL Electric, LG&E, KU) for the third quarter ended September 30, 2024, including income statements, balance sheets, cash flow statements, and statements of equity [PPL Corporation (Consolidated)](index=13&type=section&id=PPL%20Corporation%20and%20Subsidiaries) PPL Corporation reported a Q3 2024 net income of $214 million, a decrease from $230 million in Q3 2023, while nine-month net income increased to $711 million from $627 million, with diluted EPS rising to $0.96 from $0.85 PPL Corporation Consolidated Financial Highlights (in Millions) | Financial Metric | Q3 2024 | Q3 2023 | YTD 2024 | YTD 2023 | | :--- | :--- | :--- | :--- | :--- | | **Operating Revenues** | $2,066 | $2,043 | $6,251 | $6,281 | | **Operating Income** | $428 | $437 | $1,363 | $1,240 | | **Net Income** | $214 | $230 | $711 | $627 | | **Diluted EPS** | $0.29 | $0.31 | $0.96 | $0.85 | PPL Corporation Cash Flow Summary (Nine Months Ended Sep 30, in Millions) | Cash Flow Activity | 2024 | 2023 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $1,829 | $1,648 | | **Net cash used in investing activities** | $(1,944) | $(1,739) | | **Net cash provided by financing activities** | $316 | $88 | PPL Corporation Balance Sheet Summary (in Millions) | Balance Sheet Item | Sep 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | **Total Assets** | $40,472 | $39,236 | | **Total Liabilities** | $26,380 | $25,303 | | **Total Equity** | $14,092 | $13,933 | [PPL Electric Utilities Corporation](index=21&type=section&id=PPL%20Electric%20Utilities%20Corporation%20and%20Subsidiaries) PPL Electric's net income increased to $142 million in Q3 2024 and significantly to $441 million for the nine-month period, driven by higher operating income despite decreased operating revenues PPL Electric Financial Highlights (in Millions) | Financial Metric | Q3 2024 | Q3 2023 | YTD 2024 | YTD 2023 | | :--- | :--- | :--- | :--- | :--- | | **Operating Revenues** | $716 | $737 | $2,159 | $2,295 | | **Operating Income** | $230 | $225 | $706 | $646 | | **Net Income** | $142 | $136 | $441 | $384 | - For the nine months ended Sep 30, 2024, PPL Electric's net cash from operating activities was **$689 million**, while investing activities used **$1,240 million**, primarily for property, plant, and equipment expenditures and notes to affiliates[75](index=75&type=chunk) [Louisville Gas and Electric Company (LG&E)](index=28&type=section&id=Louisville%20Gas%20and%20Electric%20Company) LG&E's Q3 2024 net income remained flat at $77 million, but nine-month net income increased to $232 million from $210 million, driven by higher operating income LG&E Financial Highlights (in Millions) | Financial Metric | Q3 2024 | Q3 2023 | YTD 2024 | YTD 2023 | | :--- | :--- | :--- | :--- | :--- | | **Operating Revenues** | $397 | $398 | $1,239 | $1,227 | | **Operating Income** | $119 | $124 | $361 | $338 | | **Net Income** | $77 | $79 | $232 | $210 | [Kentucky Utilities Company (KU)](index=34&type=section&id=Kentucky%20Utilities%20Company) KU's Q3 2024 net income slightly decreased to $98 million, but nine-month net income substantially grew to $283 million from $240 million, propelled by increased operating income KU Financial Highlights (in Millions) | Financial Metric | Q3 2024 | Q3 2023 | YTD 2024 | YTD 2023 | | :--- | :--- | :--- | :--- | :--- | | **Operating Revenues** | $509 | $505 | $1,498 | $1,439 | | **Operating Income** | $153 | $157 | $446 | $393 | | **Net Income** | $98 | $101 | $283 | $240 | [Notes to Financial Statements](index=40&type=section&id=Combined%20Notes%20to%20Condensed%20Financial%20Statements%20(Unaudited)) The notes detail accounting policies, segment performance, revenue recognition, regulatory matters, financing activities, and commitments, highlighting ongoing regulatory proceedings and debt management strategies PPL Segment Net Income (Loss) (YTD 2024 vs YTD 2023, in Millions) | Segment | YTD 2024 | YTD 2023 | | :--- | :--- | :--- | | Kentucky Regulated | $493 | $432 | | Pennsylvania Regulated | $441 | $384 | | Rhode Island Regulated | $90 | $70 | | Corporate and Other | $(313) | $(259) | | **Total Net Income** | **$711** | **$627** | - PPL Electric reached a Settlement Agreement with the PAPUC's Bureau of Investigation & Enforcement regarding 2022-2023 billing issues, including a **$1 million** contribution to its hardship fund and remedial system improvements, with terms now final[168](index=168&type=chunk)[169](index=169&type=chunk) - LG&E and KU are constructing a new **640 MW** Natural Gas Combined Cycle (NGCC) unit at Mill Creek Generating Station, with an estimated total project cost of **$1.0 billion**, expected to be commercially operational in mid-2027[188](index=188&type=chunk) - In connection with the acquisition of RIE, PPL incurred transition services agreement (TSA) costs of **$129 million** for the nine months ended Sep 30, 2024, with the TSA completed in Q3 2024[186](index=186&type=chunk) [Management's Discussion and Analysis (MD&A)](index=64&type=section&id=Item%202.%20Combined%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses PPL's financial results and condition, highlighting year-to-date earnings growth driven by capital investments and favorable weather, strong liquidity, and ongoing regulatory and grid modernization initiatives [Overview](index=64&type=section&id=Overview) PPL's strategy focuses on industry-leading performance, clean energy transition, and shareholder value, with key developments including the completion of the RIE Transition Services Agreement and ongoing environmental compliance efforts - PPL's strategy is to achieve industry-leading performance, advance a clean energy transition while maintaining affordability and reliability, and create long-term shareholder value[309](index=309&type=chunk) - The Transition Services Agreement (TSA) with National Grid, related to the RIE acquisition, was completed in Q3 2024, with TSA costs totaling **$129 million** for the first nine months of 2024[311](index=311&type=chunk) - LG&E plans to retire Mill Creek Unit 1 (**300 MW**) in 2024 and Unit 2 (**297 MW**) in 2027 due to environmental requirements and aging infrastructure, with a cost recovery request for Unit 1 pending before the KPSC[315](index=315&type=chunk)[316](index=316&type=chunk) [PPL Results of Operations](index=69&type=section&id=PPL:%20Statement%20of%20Income%20Analysis%20and%20Segment%20Earnings) PPL's nine-month net income increased by $84 million to $711 million due to higher operating income and lower energy purchases, despite a Q3 2024 net income decrease from higher O&M and interest expenses PPL Net Income Change (YTD 2024 vs YTD 2023, in Millions) | Component | Change | | :--- | :--- | | Operating Revenues | $(30) | | Total Operating Expenses | $(153) | | **Operating Income** | **$123** | | Other Income (Expense) - net | $35 | | Interest Expense | $55 | | Income Taxes | $19 | | **Net Income** | **$84** | - The decrease in nine-month operating revenues was primarily due to lower PLR revenues at PPL Electric (**$262 million** decrease), partially offset by higher distribution prices and volumes across segments[332](index=332&type=chunk) - The increase in nine-month Other O&M expense of **$125 million** was driven by higher storm costs at PPL Electric (**$40 million**), RIE gas maintenance (**$45 million**), and RIE transition costs (**$57 million**)[335](index=335&type=chunk)[336](index=336&type=chunk) Reconciliation of Net Income to Earnings from Ongoing Operations (YTD 2024, in Millions) | Description | Amount | | :--- | :--- | | **Net Income** | **$711** | | Less: Special Items (expense) benefit | (283) | | **Earnings from Ongoing Operations** | **$994** | [PPL Electric Results of Operations](index=78&type=section&id=PPL%20Electric:%20Statement%20of%20Income%20Analysis) PPL Electric's nine-month net income increased by $57 million to $441 million, driven by a $60 million rise in operating income as reduced operating expenses offset declining operating revenues - For the nine months ended Sep 30, 2024, operating revenues decreased by **$136 million**, mainly due to a **$262 million** reduction from lower PLR prices, partially offset by a **$48 million** increase from distribution prices and a **$40 million** increase from transmission formula rates[375](index=375&type=chunk) - Energy purchases for the nine-month period decreased by **$244 million**, driven by lower PLR prices (**$222 million**) and lower PLR volumes (**$19 million**)[376](index=376&type=chunk) - Other O&M expenses increased by **$57 million** year-to-date, primarily due to higher storm costs (**$40 million**), vegetation management (**$11 million**), bad debts (**$11 million**), and Act 129 program expenses (**$14 million**)[377](index=377&type=chunk) [LG&E Results of Operations](index=80&type=section&id=LG%26E:%20Statement%20of%20Income%20Analysis) LG&E's nine-month net income increased by $22 million to $232 million, primarily due to a $23 million rise in operating income from higher revenues and lower operating expenses - For the nine months ended Sep 30, 2024, operating revenues increased by **$12 million**, mainly due to a **$31 million** increase from higher volumes (weather-related), partially offset by a **$15 million** decrease from the ECR mechanism adjustment[382](index=382&type=chunk) - Other O&M expenses for the nine-month period decreased by **$16 million**, primarily due to lower ECR-related expenses[385](index=385&type=chunk) [KU Results of Operations](index=81&type=section&id=KU:%20Statement%20of%20Income%20Analysis) KU's nine-month net income increased by $43 million to $283 million, driven by a $53 million rise in operating income from increased revenues and only a slight increase in operating expenses - For the nine months ended Sep 30, 2024, operating revenues increased by **$59 million**, driven by a **$37 million** increase from higher volumes (weather-related), a **$10 million** increase from fuel and energy purchase recoveries, and a **$6 million** increase in demand charges[387](index=387&type=chunk) - Fuel expense for the nine-month period increased by **$19 million**, mainly due to higher volumes from weather, partially offset by lower commodity costs[389](index=389&type=chunk) [Financial Condition](index=82&type=section&id=Financial%20Condition) PPL maintains strong liquidity with $542 million in cash and significant unused credit facilities, supported by increased operating cash flow and strategic financing activities for capital expenditures and debt management Cash and Debt Position (in Millions) | Registrant | Cash & Equivalents (Sep 30, 2024) | Short-term Debt (Sep 30, 2024) | Short-term Debt (Dec 31, 2023) | | :--- | :--- | :--- | :--- | | PPL | $542 | $0 | $992 | | PPL Electric | $35 | $0 | $509 | | LG&E | $10 | $0 | $0 | | KU | $16 | $0 | $93 | PPL Cash Flow Summary (Nine Months Ended Sep 30, in Millions) | Cash Flow Activity | 2024 | 2023 | Change | | :--- | :--- | :--- | :--- | | **Operating activities** | $1,829 | $1,648 | $181 | | **Investing activities** | $(1,944) | $(1,739) | $(205) | | **Financing activities** | $316 | $88 | $228 | - PPL and its subsidiaries maintain a total of **$2.9 billion** in committed external credit facilities, with **$2.899 billion** of unused capacity as of September 30, 2024[412](index=412&type=chunk) Part II. Other Information [Legal Proceedings](index=92&type=section&id=Item%201.%20Legal%20Proceedings) The company refers to its 2023 Form 10-K and specific notes in this Form 10-Q for information on legal, regulatory, and environmental proceedings, with no new material legal proceedings reported - For information on legal proceedings, the report directs readers to the 2023 10-K and Notes 5, 6, 8, and 10 of the current financial statements[456](index=456&type=chunk) [Risk Factors](index=92&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the Registrants' 2023 Form 10-K - The company states that there have been no material changes in its risk factors from those disclosed in the 2023 Form 10-K[457](index=457&type=chunk) [Other Information](index=93&type=section&id=Item%205.%20Other%20Information) This section discloses the adoption of Rule 10b5-1 trading plans by two company executives, David J. Bonenberger and John R. Crockett III, for the sale of PPL common stock - On August 15, 2024, David J. Bonenberger (SVP and COO–Utilities) adopted a Rule 10b5-1 trading plan to sell up to **26,973 shares** of PPL common stock[458](index=458&type=chunk) - On August 20, 2024, John R. Crockett III (President of LG&E and KU Energy) adopted a Rule 10b5-1 trading plan to sell up to **10,750 shares** of PPL common stock[459](index=459&type=chunk)