Utilities upgrading aging equipment to defend against stronger storms and support increased energy needs.LOUISVILLE, Ky., May 15, 2025 /PRNewswire/ -- If it feels like Kentucky has experienced Mother Nature's wrath more frequently over the last few years, that's not your imagination. Increasingly, scientists – including at the National Oceanic and Atmospheric Administration – are noting the extreme weather pattern of "Tornado Alley" is expanding eastward. In 2025 alone, Kentucky has experienced up to three ...

For the quarter ended March 2025, PPL (PPL) reported revenue of $2.5 billion, up 8.7% over the same period last year. EPS came in at $0.60, compared to $0.54 in the year-ago quarter.The reported revenue represents a surprise of +4.84% over the Zacks Consensus Estimate of $2.39 billion. With the consensus EPS estimate being $0.53, the EPS surprise was +13.21%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to ...

Financial Performance - Net income for Q1 2025 was $414 million, compared to $307 million in Q1 2024, representing a 35% increase[82]. - Comprehensive income for Q1 2025 was $414 million, slightly up from $309 million in Q1 2024[82]. - Operating revenues increased to $819 million in Q1 2025, up 6.4% from $770 million in Q1 2024[93]. - Net income for the three months ended March 31, 2025, was $414 million, a 35% increase from $307 million in the same period of 2024[93]. - The company’s operating income for Q1 2025 was $285 million, a 18.8% increase from $240 million in Q1 2024[93]. - Net income for the three months ended March 31, 2025, was $184 million, an increase of 23.5% compared to $149 million in the same period of 2024[95]. - Net income for the three months ended March 31, 2025, was $125 million, up from $108 million for the same period in 2024, representing a growth of 15.7%[117]. - Operating revenues for the three months ended March 31, 2025, reached $564 million, an increase of 7.4% from $525 million in the prior year[117]. - Basic and diluted earnings per share (EPS) for the three months ended March 31, 2025, were $0.56, up from $0.42 in 2024, indicating a growth of 33.3%[157]. Assets and Liabilities - Total current assets increased to $3,096 million as of March 31, 2025, up from $2,880 million at the end of 2024, indicating strong liquidity[85]. - The company reported a total asset value of $41,809 million as of March 31, 2025, compared to $41,069 million at the end of 2024[87]. - Total assets rose to $15,654 million as of March 31, 2025, up from $15,475 million at the end of 2024[99]. - Total liabilities increased to $8,828 million, compared to $8,745 million at December 31, 2024[98]. - Total current liabilities increased to $917 million as of March 31, 2025, compared to $849 million at December 31, 2024, reflecting a rise of approximately 8%[123]. - Total liabilities and equity as of March 31, 2025, amounted to $10,161 million, up from $10,073 million at December 31, 2024, reflecting an increase of about 0.9%[123]. Cash Flow and Investments - Net cash provided by operating activities rose to $513 million, compared to $282 million in the prior year, reflecting a significant improvement[84]. - The company reported a net cash used in investing activities of $97 million, a significant improvement from $780 million in the previous year[95]. - Cash flows from operating activities provided $134 million, significantly up from $28 million in the prior year[95]. - Cash and cash equivalents at the end of the period were $27 million, down from $34 million at the end of March 2024, a decrease of 20.6%[120]. Regulatory and Compliance - Future performance is subject to various risks, including changes in regulatory conditions and market demand for electricity[76]. - The impact of climate change and regulatory changes on operational costs is a key consideration for future planning[76]. - The company emphasizes the importance of maintaining strong relationships with stakeholders, including regulators and investors, to navigate industry challenges[80]. - PPL's current regulatory assets decreased to $274 million in Q1 2025 from $320 million in Q1 2024, a decline of 14.4%[167]. - PPL's noncurrent regulatory assets totaled $2,049 million in Q1 2025, slightly down from $2,060 million in Q1 2024, a decrease of 0.5%[168]. Capital Expenditures and Investments - The company is investing in new technologies and projects to improve generation capacity and reliability[80]. - The ongoing development of the Mill Creek Unit 5 is expected to add 200 MW of generating capacity by 2027[50]. - PPL plans to invest $187 million in capital expenditures as part of its FY 2026 Gas ISR Plan, with an additional $15 million allocated for contingency plans[169]. - LG&E and KU's projected capital expenditures for new generation projects expected to total $3.7 billion from 2025 to 2031[173]. Dividends and Shareholder Returns - Dividends declared per share increased to $0.2725 in Q1 2025 from $0.2575 in Q1 2024, reflecting a commitment to returning value to shareholders[90]. - The company declared dividends of $46 million in Q1 2025, compared to $47 million in Q1 2024, showing a slight decrease of about 2.1%[125]. - A quarterly cash dividend of 27.25 cents per share was declared in February 2025, equivalent to $1.09 per annum[200]. Debt and Financing - Short-term debt increased to $778 million from $303 million, reflecting a strategic shift in financing[87]. - PPL's total credit facilities amount to $1.7 billion, with $482 million borrowed as of March 31, 2025[188]. - PPL Capital Funding increased its borrowing capacity from $1.25 billion to $1.50 billion in January 2025[191]. - PPL Electric's borrowing capacity was increased from $650 million to $750 million, with a termination date extended to December 6, 2029[192]. Environmental and Legal Matters - The EPA announced a plan to reconsider 31 environmental rules, which may impact PPL's planned capital expenditures[210]. - The Registrants are subject to ongoing legal challenges regarding the 2024 CCR Rule, which may impact compliance plans and associated costs[212]. - LG&E is required to implement cybersecurity measures as per DHS directives, but does not anticipate significant impacts on operations or financial condition[227].

Financial Data and Key Metrics Changes - The company reported first quarter GAAP earnings of $0.56 per share, an increase from $0.42 per share in Q1 2024 [6][23] - Adjusted for special items, first quarter earnings from ongoing operations were $0.60 per share, an 11% increase from $0.54 per share a year ago [7][23] - The company remains confident in achieving its 2025 ongoing earnings forecast of $1.75 to $1.87 per share, with a midpoint of $1.81 per share [7][24] Business Line Data and Key Metrics Changes - Kentucky segment results increased by $0.05 per share compared to Q1 2024, driven by higher sales volumes due to mild weather [25] - Pennsylvania regulated segment results increased by $0.03 per share, also due to higher sales volumes and increased transmission revenue [26] - Rhode Island segment results decreased by $0.01 per share, primarily due to lower transmission revenues and higher operating costs [27] Market Data and Key Metrics Changes - The company has nearly 11 gigawatts of data center projects in advanced planning stages in Pennsylvania, up from nearly 9 gigawatts [15] - In Kentucky, the company is managing nearly 6 gigawatts of active data center requests, with recent legislative changes expected to attract more data centers [18] Company Strategy and Development Direction - The company is focused on its "Utility of the Future" strategy, which includes significant infrastructure improvements and capital investments [7][9] - Plans include over $4 billion in infrastructure improvements in 2025 and projected capital investment needs of $20 billion from 2025 to 2028 [7][9] - The company is advocating for legislative changes in Pennsylvania to incentivize new generation construction and reduce reliance on the PJM market [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating macroeconomic uncertainties and maintaining strong credit metrics [21] - The company is well-positioned to manage potential trade tariffs, with a significant portion of capital projects and materials sourced domestically [21] - Management highlighted ongoing economic development in Kentucky and the importance of new generation resources to support this growth [12][30] Other Important Information - The company has filed a CPCN request with the Kentucky Public Service Commission for new generation needs and received regulatory approval for cost recovery related to generation retirements [10][11] - The company is advancing key initiatives in Pennsylvania and Rhode Island to enhance energy service reliability [12][14] Q&A Session Summary Question: Advantages of resource adequacy legislation versus IPPs - Management discussed the limitations of the current market and the benefits of a regulated utility model for stability and predictability in power pricing [34] Question: Consideration of equity block or ATM - Management confirmed that the ATM program is the primary tool for equity needs, but they will remain opportunistic in assessing all options [36][38] Question: Impact of tariffs on battery storage projects - Management is actively working with vendors to minimize potential tariff impacts on battery projects and sees a need for these projects due to increasing demand [44] Question: Update on Project Lincoln in Kentucky - Management acknowledged ongoing discussions with the developer and expressed excitement about the project, which is part of the broader interest in Kentucky [47][48] Question: Coal executive order impact on generation planning - Management does not expect immediate impacts from the coal executive order on generation planning but will analyze demand and retirement schedules [56] Question: Data center announcements and ESA agreements - Management indicated that they are entering into ESAs and expect multiple gigawatts of interest, with announcements likely to follow as projects progress [91][73]

Financial Data and Key Metrics Changes - The company reported first quarter GAAP earnings of $0.56 per share, an increase from $0.42 per share in Q1 2024 [21] - Adjusted for special items, first quarter earnings from ongoing operations were $0.60 per share, an 11% increase from $0.54 per share a year ago [7][21] - The company remains confident in achieving its 2025 ongoing earnings forecast of $1.75 to $1.87 per share, with a midpoint of $1.81 per share [7] Business Line Data and Key Metrics Changes - Kentucky segment results increased by $0.05 per share compared to Q1 2024, driven by higher sales volumes due to mild weather [23] - Pennsylvania Regulated segment results increased by $0.03 per share, also due to higher sales volumes and increased transmission revenue from capital investments [23] - Rhode Island segment results decreased by $0.01 per share, primarily due to lower transmission revenues and higher operating costs [24] Market Data and Key Metrics Changes - In Pennsylvania, nearly 11 gigawatts of data center projects are in advanced planning stages, up from nearly 9 gigawatts [14] - The potential capital investment related to these data centers ranges from $700 million to $850 million, with $400 million already in the plan [15] - In Kentucky, the company is managing nearly 6 gigawatts of active data center requests, with recent legislative changes expected to attract more data centers [16] Company Strategy and Development Direction - The company is focused on its "Utility of the Future" strategy, which includes significant infrastructure improvements and capital investments [8] - Plans include over $4 billion in infrastructure improvements in 2025 to enhance grid reliability and resiliency [7] - The company aims for average annual rate base growth of 9.8% from 2025 to 2028, with a target of $20 billion in capital investment needs [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating macroeconomic uncertainties and trade tariffs, noting that 70% to 80% of capital projects are labor-based and most materials are sourced domestically [19] - The company is well-positioned to manage supply chain disruptions and is optimistic about achieving its long-term business plan [20] - Management highlighted ongoing economic development in Kentucky and the importance of new generation resources to support this growth [11] Other Important Information - The company filed a CPCN request with the Kentucky Public Service Commission for new generation needs and received regulatory approval for cost recovery related to the retirement of Mill Creek Unit 1 [9][10] - In Pennsylvania, the company secured approval to increase PPL Electric Utilities' DISC revenue cap to 7.5% [12] Q&A Session Summary Question: Advantages of resource adequacy legislation versus IPPs - Management discussed the limitations of the current capacity market and the benefits of a regulated utility model for stability and predictability in power pricing [31] Question: Consideration of block equity or ATM sufficiency - Management confirmed that the ATM program is the primary tool for equity needs, but they will remain opportunistic in assessing all options [35][36] Question: Impact of tariffs on battery storage projects - Management is actively working with vendors to minimize potential tariff impacts on battery projects and sees a need for these projects due to increasing demand [42] Question: Concerns regarding coal executive order and generation planning - Management does not expect immediate impacts from the executive order on generation planning but will analyze demand and retirement schedules [50] Question: Status of data center announcements in Pennsylvania - Management indicated that they are making progress on projects but do not control the timing of data center announcements [58] Question: Flexibility in large load tariff structures - Management expressed that they are already achieving objectives with existing ESA agreements and would want to maintain flexibility if a model tariff is introduced [62]

Core Viewpoint - PPL Corporation reported strong first-quarter 2025 results, with operating earnings per share (EPS) exceeding estimates and significant revenue growth compared to the previous year [1][2]. Financial Performance - Operating EPS for Q1 2025 was 60 cents, surpassing the Zacks Consensus Estimate of 53 cents by 13.2%, and up from 54 cents in the same quarter last year [1]. - Total revenues reached $2.50 billion, exceeding the Zacks Consensus Estimate of $2.39 billion by 4.8%, and increased by 8.7% from $2.30 billion year-over-year [2]. - Operating income was $678 million, reflecting a 24.4% increase from $545 million in the prior year [3]. Sales and Expenses - The company sold 18,386 gigawatt hours of electricity, marking a 6.6% year-over-year growth [3]. - Total operating expenses were $1.83 billion, up 4% from $1.76 billion in the previous year, primarily due to increased fuel and energy purchases [3]. - Interest expenses rose to $190 million, a 6.1% increase from $179 million in the same period of 2024 [4]. Segment Performance - In the Pennsylvania Regulated segment, adjusted EPS was 25 cents, up 13.6% from 22 cents year-over-year [5]. - The Kentucky Regulated segment reported adjusted EPS of 30 cents, a 20% increase from 25 cents in the previous year [5]. - The Rhode Island Regulated segment saw adjusted EPS of 10 cents, down 9.1% from 11 cents due to lower distribution and transmission revenues [5]. - The Corporate and Other segment incurred a loss of 5 cents per share, compared to a loss of 4 cents in the prior year [6]. Financial Position - As of March 31, 2025, PPL had cash and cash equivalents of $312 million, slightly up from $306 million at the end of 2024 [7]. - Long-term debt was $15.94 billion, a slight decrease from $15.95 billion at the end of 2024 [7]. - Net cash provided by operating activities was $513 million, compared to $282 million in the same quarter last year [7]. Guidance and Future Outlook - PPL reaffirmed its 2025 earnings projection in the range of $1.75-$1.87 per share, with the Zacks Consensus Estimate at $1.82 per share [8]. - The company maintains a long-term annual earnings growth rate target of 6-8% through 2028 [8]. - Planned infrastructure investments are expected to total $20 billion for the period from 2025 to 2028 [8]. - Management anticipates operational and maintenance savings of at least $150 million by 2025 [9].

PPL (PPL) came out with quarterly earnings of $0.60 per share, beating the Zacks Consensus Estimate of $0.53 per share. This compares to earnings of $0.54 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 13.21%. A quarter ago, it was expected that this energy and utility holding company would post earnings of $0.37 per share when it actually produced earnings of $0.34, delivering a surprise of -8.11%.Over the last four quarters ...

1 st Quarter 2025 Investor Update April 30, 2025 PPL CORPORATION 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 ...

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 first-quarter 2025 earnings ALLENTOWN, Pa. (April 30, 2025) - PPL Corporation (NYSE: PPL) today announced first-quarter 2025 reported earnings (GAAP) of $414 million, or $0.56 per share, compared with first-quarter 2024 reported earnings of $307 million, or $0.42 per share. Adjusting for special items, first-quarter 2025 earnings from ongoi ...

Industry Overview - The Zacks Utility Electric - Power industry is experiencing a transformation due to rising electricity demand from data center expansion, transportation electrification, and grid modernization initiatives [1] - Utilities are heavily investing in infrastructure to improve grid resilience, enhance transmission and distribution lines, integrate renewable energy, and comply with regulations [1] Company Investments - PPL Corporation plans to invest $20 billion from 2025 to 2028 to strengthen its infrastructure, focusing on grid hardening and accommodating increased electrification [2] - Duke Energy Corporation expects to spend $83 billion during the 2025-2029 period for grid modernization and transitioning to low-carbon energy sources [3] Earnings Growth Prospects - The Zacks Consensus Estimate for PPL's earnings shows year-over-year growth of 7.69% for 2025 and 8.24% for 2026, with a long-term growth rate of 7.46% [5] - Duke Energy's earnings are projected to grow by 7.12% in 2025 and 6.24% in 2026, with a long-term growth rate of 6.33% [8] Return on Equity - PPL's current Return on Equity (ROE) is 8.88%, while Duke Energy's ROE is 9.50%, both slightly below the industry average of 9.77% [11] Capital Expenditure Plans - PPL's capital investment plan focuses on infrastructure projects for generation, transmission, and distribution, with a regulated capital investment of $20 billion from 2025 to 2028 [14] - Duke Energy aims to enhance its operations and renewable generation portfolio with an expected expenditure of $83 billion from 2025 to 2029 [15] Valuation Metrics - PPL is trading at a forward earnings multiple of 19.54X, above its five-year median of 16.72X, while Duke Energy's forward earnings multiple is 18.7X, also above its median of 17.64X [16] Dividend Yield - PPL's current dividend yield is 2.99%, and Duke Energy's is 3.46%, both exceeding the S&P 500 Composite average of 1.65% [18] Price Performance - Over the past year, PPL shares have increased by 32.4%, while Duke Energy's shares have risen by 23.1%, both outperforming the industry's growth of 16.8% [19] Conclusion - Both PPL and Duke Energy are making substantial investments to modernize their infrastructure and meet rising electricity demand, presenting significant growth opportunities for investors [22]