PPL Corporation reports second-quarter 2025 earnings

Core Insights - PPL Corporation reported second-quarter 2025 earnings of $183 million, or $0.25 per share, a decrease from $190 million, or $0.26 per share in the same quarter of 2024 [1][6] - For the first six months of 2025, PPL's earnings were $597 million, or $0.80 per share, compared to $497 million, or $0.67 per share in the first half of 2024, marking a 20% increase [1][6] Earnings Performance - Adjusted for special items, second-quarter 2025 earnings from ongoing operations were $240 million, or $0.32 per share, down from $282 million, or $0.38 per share in the previous year, primarily due to operating cost timing and higher interest expenses [2][8] - Earnings from ongoing operations for the first six months of 2025 remained stable at $684 million, or $0.92 per share, compared to the same period in 2024 [3][8] Strategic Initiatives - PPL's CEO highlighted the company's focus on enhancing the reliability and resiliency of its electric and gas networks, advancing a cleaner energy mix, and integrating innovative technology [4] - The company announced a joint venture with Blackstone Infrastructure to build and operate new electric generation stations for data centers, showcasing its commitment to innovative energy solutions [4] Financial Outlook - PPL reaffirmed its ongoing earnings forecast range for 2025 at $1.75 to $1.87 per share, with expectations to achieve at least the midpoint of $1.81 per share [4][8] - The company projects annual earnings per share (EPS) and dividend growth of 6% to 8% through at least 2028, with EPS growth anticipated in the top half of the targeted range [4][8] Segment Performance - In the second quarter of 2025, the Kentucky Regulated segment reported earnings of $0.17 per share, down from $0.18, while the Pennsylvania Regulated segment saw earnings of $0.19 per share, down from $0.21 [7] - The Rhode Island Regulated segment reported a loss of $0.02 per share, compared to a gain of $0.01 in the previous year, primarily due to higher operating costs [7][18] Special Items Impact - The second-quarter 2025 reported earnings included net special item after-tax charges of $57 million, or $0.07 per share, mainly related to IT transformation and integration expenses [10][11] - For the first six months of 2025, special item charges totaled $87 million, or $0.12 per share, compared to $187 million, or $0.25 per share in the same period of 2024 [11][11]