Financial Data and Key Metrics Changes - The company achieved ongoing earnings of $1.81 per share, representing a 7.1% growth from the previous year and aligning with the midpoint of the forecast [5][30] - GAAP earnings for 2025 were $1.59 per share, compared to $1.20 per share in 2024, indicating significant year-over-year improvement [30] Business Line Data and Key Metrics Changes - Kentucky results increased by $0.09 per share due to higher sales volumes and additional capital expenditures, while Pennsylvania results increased by $0.04 per share driven by higher transmission revenue and distribution rider recovery [30][31] - Rhode Island results decreased by $0.02 per share due to higher operating costs, but this was partially offset by increased distribution revenue [30] Market Data and Key Metrics Changes - The company reported a significant increase in data center interconnection requests, totaling approximately 25.2 GW, which is a 23% increase since the last quarterly update [18] - In Kentucky, the economic development pipeline reflects over 9 GW of potential new load, with data center-related requests exceeding 8 GW [19] Company Strategy and Development Direction - The updated business plan extends the company's growth outlook while maintaining a focus on customer affordability and a strong credit profile [7] - The company projects capital investment needs of $23 billion from 2026 to 2029, up from $20 billion in the previous plan, to support reliability and resilience against severe weather [9][10] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of new generation resources to meet growing demand, particularly from data centers, and highlighted the need for increased capital investments to support this [24][42] - The company remains committed to affordability, having reduced O&M costs by nearly 3% annually, which has helped fund significant capital investments without increasing customer bills [21][22] Other Important Information - The company modified its annual dividend growth rate target to 4%-6% while issuing equity to fund its capital plan [11] - The company has engaged with stakeholders to support economic development, including a $3.5 billion investment by Eli Lilly in Pennsylvania [7] Q&A Session Summary Question: Update on Pennsylvania rate case process - Management indicated that discussions are ongoing and that the focus has been on the impact of data centers on customer affordability, with a constructive outcome expected regardless of whether it resolves through settlement or commission decision [49][54] Question: Contracts for GenCo and JV participation in auctions - Management stated that significant events would be communicated outside of earnings calls and that participation in special auctions would be evaluated based on risk profiles [61][63] Question: Data center backlog and generation sources - Management noted that hyperscalers are focused on speed to connect to the grid and are increasingly engaged in discussions about resource adequacy, with no signs of them pulling out of the region [70][75]

PPL (NYSE:PPL) Q4 2025 Earnings call February 20, 2026 11:00 AM ET Speaker8Good day, and welcome to the PPL Corporation Fourth Quarter and Full Year 2025 Earnings Call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press Star, then one on a touchtone phone. To withdraw your question, please press S ...