Financial Performance - PPL Corporation reported third-quarter 2025 earnings of $318 million, or $0.43 per share, a 49% increase from $214 million, or $0.29 per share in the same quarter of 2024 [1] - For the first nine months of 2025, earnings were $915 million, or $1.23 per share, compared to $711 million, or $0.96 per share for the same period in 2024, reflecting a 28% increase [1] - Adjusted earnings from ongoing operations for Q3 2025 were $355 million, or $0.48 per share, up from $310 million, or $0.42 per share in Q3 2024, marking a 15% increase [2] Earnings Forecast - The company narrowed its 2025 earnings forecast range to $1.78 to $1.84 per share, maintaining a midpoint of $1.81 per share [3][9] - PPL reaffirmed its projection of 6% to 8% annual earnings per share (EPS) and dividend growth through at least 2028, with EPS growth expected to be in the top half of the targeted range [4] Regulatory Developments - PPL highlighted key regulatory milestones, including a Kentucky Public Service Commission decision approving additional generation resources for its subsidiaries in Kentucky [5] - The ruling granted a Certificate of Public Convenience and Necessity to build two new 645-megawatt natural gas combined-cycle units, with expected availability in 2030 and 2031 [5][6] Key Factors Impacting Earnings - Earnings growth was driven by higher sales volumes due to weather, increased earnings from capital investments, and lower operating costs, partially offset by higher interest expenses [14][15] - Reported earnings in Q3 2025 included net special-item after-tax charges of $37 million, or $0.05 per share, primarily related to IT transformation and integration expenses from the acquisition of Rhode Island Energy [11] Segment Performance - The Kentucky Regulated segment reported earnings of $0.25 per share in Q3 2025, compared to $0.23 in Q3 2024 [10] - The Pennsylvania Regulated segment reported earnings of $0.21 per share in Q3 2025, up from $0.19 in Q3 2024 [10] - The Rhode Island Regulated segment reported earnings of $0.04 per share in Q3 2025, compared to $0.02 in Q3 2024 [10]