Announcement • Apr 17
PPL Corporation to Report Q1, 2026 Results on May 08, 2026 PPL Corporation announced that they will report Q1, 2026 results on May 08, 2026 Declared Dividend • Mar 02
Fourth quarter dividend increased to US$0.28 Dividend of US$0.28 is 4.6% higher than last year. Ex-date: 10th March 2026 Payment date: 1st April 2026 Dividend yield will be 2.8%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (68% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 21
Full year 2025 earnings released: EPS: US$1.60 (vs US$1.20 in FY 2024) Full year 2025 results: EPS: US$1.60 (up from US$1.20 in FY 2024). Revenue: US$9.04b (up 6.9% from FY 2024). Net income: US$1.18b (up 33% from FY 2024). Profit margin: 13% (up from 11% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Feb 07
PPL Corporation, Annual General Meeting, May 13, 2026 PPL Corporation, Annual General Meeting, May 13, 2026. Announcement • Jan 30
PPL Corporation to Report Q4, 2025 Results on Feb 20, 2026 PPL Corporation announced that they will report Q4, 2025 results on Feb 20, 2026 Declared Dividend • Nov 24
Third quarter dividend of US$0.27 announced Shareholders will receive a dividend of US$0.27. Ex-date: 10th December 2025 Payment date: 2nd January 2026 Dividend yield will be 3.0%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (73% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 22
PPL Corporation Declares Quarterly Dividend, Payable January 2, 2026 PPL Corporation declared a quarterly common stock dividend on November 21, 2025, of $0.2725 per share, payable January 2, 2026 to shareowners of record as of December 10, 2025. Reported Earnings • Nov 06
Third quarter 2025 earnings released: EPS: US$0.43 (vs US$0.29 in 3Q 2024) Third quarter 2025 results: EPS: US$0.43 (up from US$0.29 in 3Q 2024). Revenue: US$2.24b (up 8.4% from 3Q 2024). Net income: US$318.0m (up 49% from 3Q 2024). Profit margin: 14% (up from 10% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 10% per year. Announcement • Nov 06
PPL Corporation Provides Earnings Guidance for the Year 2025 and 2028 PPL Corporation provided Earnings Guidance for the year 2025. For the year 2025, the company has narrowed ongoing earnings forecast range to $1.78 to $1.84 per share, maintaining midpoint of $1.81 per share.
For the year, 2028, the company remain well positioned to deliver 6% to 8% annual EPS and dividend growth through at least 2028, with EPS growth expected to be in the top half of that range. Buy Or Sell Opportunity • Oct 28
Now 20% undervalued Over the last 90 days, the stock has risen 2.6% to US$37.13. The fair value is estimated to be US$46.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 4.8% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Announcement • Oct 15
PPL Corporation to Report Q3, 2025 Results on Nov 05, 2025 PPL Corporation announced that they will report Q3, 2025 results on Nov 05, 2025 Declared Dividend • Aug 25
Second quarter dividend of US$0.27 announced Shareholders will receive a dividend of US$0.27. Ex-date: 10th September 2025 Payment date: 1st October 2025 Dividend yield will be 2.9%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (79% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 22
Ppl Corporation Declares Quarterly Dividend, Payable October 1, 2025 PPL Corporation declared a quarterly common stock dividend on August 22, 2025, of $0.2725 per share, payable October 1, 2025 to shareowners of record as of September 10, 2025. Buy Or Sell Opportunity • Aug 15
Now 20% undervalued Over the last 90 days, the stock has risen 5.2% to US$36.52. The fair value is estimated to be US$45.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 3.5% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Reported Earnings • Aug 01
Second quarter 2025 earnings released: EPS: US$0.25 (vs US$0.26 in 2Q 2024) Second quarter 2025 results: EPS: US$0.25 (down from US$0.26 in 2Q 2024). Revenue: US$2.03b (up 7.7% from 2Q 2024). Net income: US$183.0m (down 3.2% from 2Q 2024). Profit margin: 9.0% (down from 10.0% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 8% per year. Announcement • Jul 31
PPL Corporation Reaffirms Earnings Guidance for the Year 2025 PPL Corporation reaffirmed Earnings Guidance for the year 2025. For the period, the company 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. The company's 2025 earnings from ongoing operations forecast range is $1.75 to $1.87 per share, with a midpoint of $1.81 per share. Announcement • Jul 11
PPL Corporation to Report Q2, 2025 Results on Jul 31, 2025 PPL Corporation announced that they will report Q2, 2025 results on Jul 31, 2025 Declared Dividend • May 25
First quarter dividend of US$0.27 announced Shareholders will receive a dividend of US$0.27. Ex-date: 10th June 2025 Payment date: 1st July 2025 Dividend yield will be 3.1%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (78% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 37% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 17
PPL Corporation Declares Quarterly Common Stock Dividend, Payable on July 1, 2025 PPL Corporation declared a quarterly common stock dividend on May 16, 2025, of $0.2725 per share, payable July 1, 2025 to shareowners of record as of June 10, 2025. Reported Earnings • May 01
First quarter 2025 earnings released: EPS: US$0.56 (vs US$0.42 in 1Q 2024) First quarter 2025 results: EPS: US$0.56 (up from US$0.42 in 1Q 2024). Revenue: US$2.50b (up 8.7% from 1Q 2024). Net income: US$414.0m (up 35% from 1Q 2024). Profit margin: 17% (up from 13% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Apr 30
PPL Corporation Reaffirms Earning Guidance for the Year 2025 Ppl Corporation reaffirmed Earning Guidance for the year 2025. For the period, the company expected earnings forecast range of $1.75 to $1.87 per share with a midpoint of $1.81 per share. In addition, the company 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. Announcement • Apr 10
PPL Corporation to Report Q1, 2025 Results on Apr 30, 2025 PPL Corporation announced that they will report Q1, 2025 results on Apr 30, 2025 Upcoming Dividend • Mar 03
Upcoming dividend of US$0.27 per share Eligible shareholders must have bought the stock before 10 March 2025. Payment date: 01 April 2025. Payout ratio is on the higher end at 86% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of British dividend payers (5.8%). Lower than average of industry peers (4.9%). Announcement • Feb 16
PPL Corporation has filed a Follow-on Equity Offering in the amount of $2 billion. PPL Corporation has filed a Follow-on Equity Offering in the amount of $2 billion.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Declared Dividend • Feb 16
Fourth quarter dividend increased to US$0.27 Dividend of US$0.27 is 5.8% higher than last year. Ex-date: 10th March 2025 Payment date: 1st April 2025 Dividend yield will be 3.1%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (86% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 41% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 13
Full year 2024 earnings released: EPS: US$1.20 (vs US$1.00 in FY 2023) Full year 2024 results: EPS: US$1.20 (up from US$1.00 in FY 2023). Revenue: US$8.46b (up 1.8% from FY 2023). Net income: US$888.0m (up 20% from FY 2023). Profit margin: 11% (up from 8.9% in FY 2023). Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Feb 08
PPL Corporation, Annual General Meeting, May 16, 2025 PPL Corporation, Annual General Meeting, May 16, 2025. Announcement • Jan 23
PPL Corporation to Report Q4, 2024 Results on Feb 13, 2025 PPL Corporation announced that they will report Q4, 2024 results on Feb 13, 2025 Announcement • Jan 15
PPL Corporation Announces Executive Changes, Effective April 4, 2025 PPL Corporation announced the elimination of its Chief Operating Officer role effective April 4, 2025, at which time current EVP and COO Francis X. Sullivan will retire. Also effective April 4, 2025, Sullivan's responsibilities will be assumed by David J. Bonenberger, who will become Executive Vice President and Chief Operating Officer-Utilities and Lonnie Bellar, who will become Executive Vice President of Engineering, Construction and Generation, with both executives reporting to PPL President and Chief Executive Officer Vincent Sorgi. Bonenberger and Bellar both currently report to Sullivan. Bonenberger is responsible for utility operations and customer service across all of PPL's utilities in Pennsylvania, Kentucky, Rhode Island and Virginia. Bellar is responsible for enterprise-wide engineering and construction services, energy supply and analysis, and environmental compliance. With the elimination of the enterprise-wide COO role, Bellar will also assume responsibility over PPL's Kentucky generation fleet. Both Bonenberger and Bellar began their energy careers in the 1980s — Bonenberger joining PPL Electric Utilities in 1984 and Bellar joining Kentucky Utilities in 1987. Prior to their most recent roles, Bonenberger served as President of Rhode Island Energy, a subsidiary of PPL, and Bellar served as COO for LG&E and KU Energy, also a subsidiary of PPL. Sullivan has served as PPL's EVP and COO since January 2023. Prior to joining PPL in October 2021, he served as a senior operations advisor and independent consultant for the power sector and spent more than 40 years in a variety of leadership roles with some of the biggest names in the energy industry, including NRG Energy and Public Service Enterprises Group. Declared Dividend • Dec 02
Third quarter dividend of US$0.26 announced Shareholders will receive a dividend of US$0.26. Ex-date: 10th December 2024 Payment date: 2nd January 2025 Dividend yield will be 2.9%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is not adequately covered by earnings (91% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share is expected to grow by 52% over the next 3 years, which should maintain adequate earnings cover for the dividend. Announcement • Nov 22
PPL Corporation Declares Quarterly Common Stock Dividend, Payable January 2, 2025 PPL Corporation declared a quarterly common stock dividend on November 22, 2024, of $0.2575 per share, payable on January 2, 2025 to shareowners of record as of December 10, 2024. New Risk • Nov 03
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 91% The company is paying a dividend despite having no free cash flows. Dividend yield: 3.3% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.8x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 91% Paying a dividend despite having no free cash flows. Announcement • Nov 02
PPL Corporation Narrows Earnings Guidance for the Year 2024 PPL Corporation narrowed earnings guidance for the year 2024. For the year, PPL narrowed its 2024 earnings from ongoing operations forecast range to $1.67 to $1.73 per share from a prior forecast range of $1.63 to $1.75 per share, increasing the midpoint to $1.70 per share from $1.69 per share. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$0.29 (vs US$0.31 in 3Q 2023) Third quarter 2024 results: EPS: US$0.29 (down from US$0.31 in 3Q 2023). Revenue: US$2.07b (up 1.1% from 3Q 2023). Net income: US$214.0m (down 7.0% from 3Q 2023). Profit margin: 10% (in line with 3Q 2023). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Board Change • Nov 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 5 highly experienced directors. Independent Director Linda Sullivan was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 11
PPL Corporation to Report Q3, 2024 Results on Nov 01, 2024 PPL Corporation announced that they will report Q3, 2024 results on Nov 01, 2024 Announcement • Sep 13
PPL Corporation Finalizes Award for Up to $72 Million in Federal Funding from U.S. Department of Energy's Office of Clean Energy Demonstrations PPL Corporation announced it has executed an agreement with the U.S. Department of Energy (DOE) Office of Clean Energy Demonstrations (OCED) for an award up to $72 million to help fund a groundbreaking carbon dioxide (CO2) capture research and development project at the company's natural gas combined-cycle generation facility in Louisville, Kentucky. OCED awarded PPL with the first tranche of funding – $4.9 million – to begin Phase 1 activities. The carbon capture project – developed in partnership with the University of Kentucky and others – represents a total investment of more than $100 million and will be hosted at the Cane Run generating station jointly owned and operated by PPL subsidiaries Kentucky Utilities and Louisville Gas and Electric Company. OCED announced in February of this year that the DOE selected the project for award negotiations. The system planned for Cane Run is designed to capture a portion of the CO2 from the natural gas plant's flue gas using an advanced heat-integrated CO2 capture technology. It's expected to capture more than 95% of the carbon emissions from up to 20 megawatts (MW) of the plant's 691 MW generating capacity, or up to 67,000 metric tons of CO2 per year. That's equivalent to the annual CO2 emissions of 16,000 gasoline-powered cars, according to OCED. The demonstration project is an important step in assessing the future viability of utility-scale carbon capture technology on natural gas units. Current plans include the captured CO2 being purified and beneficially reused in its entirety by a nearby industrial customer. In addition to the University of Kentucky, collaborators on the project include the Electric Power Research Institute (EPRI); Kentucky State University; Visage Energy; and American Welding & Gas. Vogt Power International Inc., a Babcock Power Inc. subsidiary, and Siemens Energy, manufacturers of the Cane Run 7 Generating Station, are contributing technical support as part of the project team on integrating the new CO2 capture system. Koch Modular Process Systems and others will support the design, fabrication and construction of the carbon capture unit. The latest research initiative at Cane Run is one of more than 175 research and development projects that PPL is currently collaborating on with over 30 industry and academic partners. Projects range from accelerating low-carbon energy technologies to strengthening network resiliency and building the grid of the future. PPL subsidiaries LG&E and KU have partnered with the University of Kentucky for nearly two decades on various carbon capture research projects and were founders of the university's carbon capture research program in 2006. Together with EPRI, the company and university deployed a pilot-scale carbon capture facility in 2014 at the KU E.W. Brown coal-fired generating station. Declared Dividend • Aug 26
Second quarter dividend of US$0.26 announced Shareholders will receive a dividend of US$0.26. Ex-date: 10th September 2024 Payment date: 1st October 2024 Dividend yield will be 3.2%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (87% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 47% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 23
PPL Corporation Declares Quarterly Common Stock Dividend, Payable October 1, 2024 PPL Corporation declared a quarterly common stock dividend on August 23, 2024, of $0.2575 per share, payable October 1, 2024, to shareowners of record as of September 10, 2024. New Risk • Aug 04
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 20% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Reported Earnings • Aug 03
Second quarter 2024 earnings released: EPS: US$0.26 (vs US$0.15 in 2Q 2023) Second quarter 2024 results: EPS: US$0.26 (up from US$0.15 in 2Q 2023). Revenue: US$1.88b (up 3.2% from 2Q 2023). Net income: US$190.0m (up 70% from 2Q 2023). Profit margin: 10% (up from 6.1% in 2Q 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Aug 02
PPL Corporation Reaffirms Earnings Guidance for the Year 2024 PPL Corporation reaffirmed earnings guidance for the year 2024. The company’s 2024 earnings from ongoing operations forecast range is $1.63 to $1.75 per share, with a midpoint of $1.69 per share. Estimate of reported earnings to be in the range of $1.50 to $1.38 per share, with a midpoint of $1.44 per share. Announcement • Jul 16
PPL Corporation to Report Q2, 2024 Results on Aug 02, 2024 PPL Corporation announced that they will report Q2, 2024 results on Aug 02, 2024 Buy Or Sell Opportunity • Jul 12
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 6.2% to US$28.27. The fair value is estimated to be US$23.14, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 48%. For the next 3 years, revenue is forecast to grow by 2.5% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Announcement • Jun 27
PPL Corporation Subsidiaries Louisville Gas and Electric Company and Kentucky Utilities Company with U.S. Department of Energy Initiative to Conduct Nuclear Feasibility Study PPL Corporation subsidiaries Louisville Gas and Electric Company and Kentucky Utilities Company will build on an earlier assessment of nuclear feasibility at the site of an existing Kentucky coal-fired power plant by exploring additional locations and partnerships that could support nuclear energy in the commonwealth. As with earlier feasibility assessments at LG&E and KU's Ghent Generation Station in Ghent, Ky., PPL's Research and Development team plans to partner with Gateway for Accelerated Innovation in Nuclear (GAIN), a U.S. Department of Energy initiative, and nuclear design engineering company X-Energy in the next phase of assessments. PPL and GAIN's prior study at the Ghent facility determined that the site is suitable for a nuclear SMR plant, but would have potential size constraints for a larger traditional nuclear reactor. Phase two of the study will explore alternative locations and industrial partnerships that could enable energy-intensive customers, including manufacturers and data centers, to achieve their zero-carbon objectives while maintaining reliability and affordability. Upcoming Dividend • Jun 03
Upcoming dividend of US$0.26 per share Eligible shareholders must have bought the stock before 10 June 2024. Payment date: 01 July 2024. Payout ratio is on the higher end at 95% but the company is not cash flow positive. Trailing yield: 3.5%. Lower than top quartile of British dividend payers (5.6%). Lower than average of industry peers (5.5%). Declared Dividend • May 20
First quarter dividend of US$0.26 announced Shareholders will receive a dividend of US$0.26. Ex-date: 10th June 2024 Payment date: 1st July 2024 Dividend yield will be 3.4%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is not adequately covered by earnings (95% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 5.1% to bring the payout ratio under control. EPS is expected to grow by 44% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • May 16
PPL Corporation Declares Quarterly Common Stock Dividend, Payable July 1, 2024 PPL Corporation declared a quarterly common stock dividend on May 15, 2024, of $0.2575 per share, payable July 1, 2024, to shareowners of record as of June 10, 2024. Announcement • May 03
PPL Corporation Reaffirms Earnings Guidance for the Year 2024 PPL Corporation reaffirmed earnings guidance for the year 2024. The company are reaffirming ongoing earnings forecast range of $1.63 to $1.75 per share, with a midpoint of $1.69 per share. In addition, the company reaffirmed its projection of 6% to 8% annual earnings. Reported Earnings • May 01
First quarter 2024 earnings released: EPS: US$0.42 (vs US$0.39 in 1Q 2023) First quarter 2024 results: EPS: US$0.42 (up from US$0.39 in 1Q 2023). Revenue: US$2.30b (down 4.6% from 1Q 2023). Net income: US$307.0m (up 8.1% from 1Q 2023). Profit margin: 13% (up from 12% in 1Q 2023). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Apr 19
PPL Corporation to Report Q1, 2024 Results on May 01, 2024 PPL Corporation announced that they will report Q1, 2024 results on May 01, 2024 Upcoming Dividend • Feb 29
Upcoming dividend of US$0.26 per share Eligible shareholders must have bought the stock before 07 March 2024. Payment date: 01 April 2024. Payout ratio is on the higher end at 96% but the company is not cash flow positive. Trailing yield: 3.9%. Lower than top quartile of British dividend payers (6.3%). Lower than average of industry peers (6.0%). Declared Dividend • Feb 26
Fourth quarter dividend increased to US$0.26 Dividend of US$0.26 is 7.3% higher than last year. Ex-date: 7th March 2024 Payment date: 1st April 2024 Dividend yield will be 3.6%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is not adequately covered by earnings (96% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 6.4% to bring the payout ratio under control. EPS is expected to grow by 45% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. New Risk • Feb 25
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.8x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 96% Paying a dividend despite having no free cash flows. Minor Risk Large one-off items impacting financial results. Announcement • Feb 22
PPL Corporation Moves Dave Bonenberger as Senior Vice President and Chief Operating Officer – Utilities PPL Corporation announced that effective March 4, Cornett will succeed Dave Bonenberger, who is moving into a new role as PPL Senior Vice President and Chief Operating Officer – Utilities. While Bonenberger's role is changing, he will remain responsible for ensuring RIE's seamless transition to PPL systems and processes as the company works to exit its remaining transition service agreements with National Grid by mid-2024. In addition, Bonenberger will be responsible for utility operations across PPL. Reported Earnings • Feb 17
Full year 2023 earnings released: EPS: US$1.00 (vs US$0.97 in FY 2022) Full year 2023 results: EPS: US$1.00 (up from US$0.97 in FY 2022). Revenue: US$8.31b (up 5.2% from FY 2022). Net income: US$740.0m (up 3.8% from FY 2022). Profit margin: 8.9% (down from 9.0% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Feb 15
PPL Corporation Appoints Dean A. Del Vecchio as Chief Technology and Innovation Officer PPL Corporation announced that Dean A. Del Vecchio has been elected Executive Vice President and Chief Technology and Innovation Officer, a new position that reflects PPL's strong focus on creating technology-enabled utilities of the future. Del Vecchio will report directly to PPL President and Chief Executive Officer Vincent Sorgi. Prior to joining PPL, Del Vecchio served as Executive Vice President, Chief Information and Operations Officer for The Guardian Life Insurance Company of America, where he was responsible for defining and implementing a strategic technology vision that aligned with the company's long-term growth initiatives and business objectives. In addition, he was responsible for leading enterprise customer service and operations. He provided strategic oversight for Guardian's shared services organization in India, as well as real estate and facilities, physical security, office services, Guardian's source-to-pay process to drive procurement efficiency, and enterprise imaging.Prior to joining Guardian, Del Vecchio was Senior Vice President, CIO, and Global Head of IT Shared Services at News Corp. and Dow Jones, where he was responsible for creating new and distinctive platforms for news and information delivery, as well as leading all application development and technology infrastructure. In addition to the CIO role, Del Vecchio served as the company's Chief Administrative Officer, creating a vision and plan to improve administrative service, delivery and processes. Del Vecchio is a member of the Amazon Web Services Financial Services Advisory Council, a founding member of the AI Pioneers Forum, a member of McKinsey's Life Insurance and Retirement Technology Executive Roundtable, a member of Beta Gamma Sigma Honor Society, and a governing body member of the CIO Executive Summit. He is also a member of the MIB Board of Directors and NPower Board of Directors. Del Vecchio earned his Master of Business Administration with honors from Villanova University and was the 2022 CIO of the Year® ORBIE® winner in the Philadelphia Large Enterprise category. Announcement • Feb 04
PPL, Affiliate Partners Selected for $72 Million Research Grant from the U.S. Department of Energy's Office of Clean Energy Demonstrations PPL Corporation announced the company and its research partners have been selected for a $72 million award negotiation by the U.S. Department of Energy (DOE) Office of Clean Energy Demonstrations (OCED) to help fund a ground-breaking carbon dioxide (CO2) capture research and development project expected to cost in excess of $100 million. The research project and new carbon capture system – developed in partnership with the University of Kentucky and others – will be hosted at PPL subsidiaries Louisville Gas and Electric Company's (LG&E) and Kentucky Utilities Company's (KU) Cane Run 7 natural gas combined-cycle generating station in Louisville, Ky. The new 20-megawatt research system planned for Cane Run is designed to capture a portion of the CO2 from the natural gas plant's flue gas using an advanced heat-integrated CO2 capture technology. The goal is to capture up to 240 tons of CO2 per day and up to 90,000 metric tons of CO2 per year – an amount equivalent to the annual CO2 emissions of 20,000 gasoline-powered cars, according to OCED. This is an important step in assessing the future viability of utility-scale carbon capture technology on natural gas units. Current plans include the captured CO2 being beneficially reused and purified in its entirety by a nearby manufacturer. In addition, this project is designed to expand existing training and internship programs to create a workforce development plan that involves collaborating with local community leaders and organizations and partnering with local colleges and universities, including a Historically Black College and University, for implementation. In addition to the University of Kentucky, collaborators on the project include EPRI; Kentucky State University; Visage Energy; and American Welding & Gas. Vogt Power International Inc., a Babcock Power Inc. subsidiary, and Siemens Energy, manufacturers of the Cane Run 7 Generating Station, are contributing technical support as part of the project team on integrating the new CO2 capture system. Koch Modular Process Systems and others will support the design, fabrication and construction of the carbon capture unit. Announcement • Feb 01
PPL Corporation to Report Q4, 2023 Results on Feb 16, 2024 PPL Corporation announced that they will report Q4, 2023 results on Feb 16, 2024 Announcement • Dec 23
Talen Energy Announces Settlement Agreement with PPL Related to Past Legal Claims Talen Energy Corporation reported that the Company and certain subsidiaries have reached a settlement of litigation with PPL Corporation ("PPL") related to a distribution of proceeds from the 2014 sale of hydroelectric facilities in Montana. Under the terms of the settlement agreement, which has been approved by each company's Board of Directors, PPL will pay Talen Montana $115 million in cash on or before December 31, 2023, in exchange for a full release of all claims. $9.5 million of the proceeds are expected to be paid to the General Unsecured Creditors ("GUC") Trust, established as part of Talen's chapter 11 plan of reorganization, to satisfy outstanding claims that remain following Talen's emergence from restructuring in May 2023. The remaining proceeds will be used by Talen Montana to secure environmental and other obligations, and for general corporate purposes. Upcoming Dividend • Nov 30
Upcoming dividend of US$0.24 per share at 3.7% yield Eligible shareholders must have bought the stock before 07 December 2023. Payment date: 02 January 2024. Payout ratio is on the higher end at 90% but the company is not cash flow positive. Trailing yield: 3.7%. Lower than top quartile of British dividend payers (6.1%). Lower than average of industry peers (5.5%). Announcement • Nov 18
PPL Corporation Declares Quarterly Common Stock Dividend, Payable on January 2, 2024 PPL Corporation declared a quarterly common stock dividend on November 17, 2023, of $0.24 per share, payable on January 2, 2024, to shareowners of record as of December 8, 2023. Announcement • Nov 03
PPL Corporation Narrows Earnings Guidance for the Year 2023 PPL Corporation narrowed earnings guidance for the year 2023. For the year, the company narrowed earnings from ongoing operations forecast range to $1.55 to $1.60 per share from a prior forecast range of $1.50 to $1.65 per share. The midpoint remains $1.58 per share. Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: US$0.31 (vs US$0.24 in 3Q 2022) Third quarter 2023 results: EPS: US$0.31 (up from US$0.24 in 3Q 2022). Revenue: US$2.04b (down 4.3% from 3Q 2022). Net income: US$230.0m (up 32% from 3Q 2022). Profit margin: 11% (up from 8.2% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 4.9% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Oct 25
PPL Corporation Appoints Christine M. Martin as Electric Utilities President PPL Corporation announced that 20-year PPL veteran Christine M. Martin has been appointed PPL Electric Utilities president, effective today. Martin had been named interim PPL Electric Utilities president Sept. 1 following the departure of Stephanie R. Raymond. PPL Electric Utilities is one of several regulated utilities in the PPL family of companies. PPL Electric delivers electricity to approximately 1.5 million homes and businesses in 29 counties across eastern and central Pennsylvania. Martin, who joined PPL in 2003, is a native of Pennsylvania and brings extensive experience in public affairs and stakeholder engagement to her new role. Prior to her interim role as PPL Electric Utilities president, she served as PPL's senior vice president of Public Affairs and chief sustainability officer. Before that, she served as vice president of Public Affairs and vice president of State Government Relations. Before joining PPL, Martin served as deputy secretary for water management in Pennsylvania's Department of Environmental Protection, where she was responsible for statewide water resources management and policy. She also served as senior policy manager for environmental, infrastructure, energy and regulatory issues for Governors Tom Ridge and Mark Schweiker. Announcement • Oct 21
PPL Corporation to Report Q3, 2023 Results on Nov 02, 2023 PPL Corporation announced that they will report Q3, 2023 results on Nov 02, 2023 Announcement • Aug 26
PPL Corporation Declares Quarterly Dividend, Payable on October 2, 2023 PPL Corporation declared a quarterly common stock dividend on August 25, of $0.24 per share, payable October 2, 2023, to shareowners of record as of September 8, 2023. Reported Earnings • Aug 06
Second quarter 2023 earnings released: EPS: US$0.15 (vs US$0.16 in 2Q 2022) Second quarter 2023 results: EPS: US$0.15 (down from US$0.16 in 2Q 2022). Revenue: US$1.82b (up 7.5% from 2Q 2022). Net income: US$112.0m (down 5.9% from 2Q 2022). Profit margin: 6.1% (down from 7.0% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.0% p.a. on average during the next 3 years, compared to a 3.9% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has increased by 1% per year. Announcement • Aug 05
PPL Corporation Reaffirms Earnings Guidance for the Year of 2023 PPL Corporation reaffirmed earnings guidance for the year of 2023. For the year, company expects earnings from ongoing operations forecast range is $1.50 to $1.65 per share, with a midpoint of $1.58 per share. Estimate of reported earnings to be in the range of $1.27 per diluted share to $1.42 per diluted share, with a midpoint of $1.35 per diluted share. Announcement • Jul 24
PPL Corporation to Report Q2, 2023 Results on Aug 04, 2023 PPL Corporation announced that they will report Q2, 2023 results on Aug 04, 2023 Upcoming Dividend • Jun 01
Upcoming dividend of US$0.24 per share at 3.7% yield Eligible shareholders must have bought the stock before 08 June 2023. Payment date: 03 July 2023. Payout ratio is on the higher end at 93% but the company is not cash flow positive. Trailing yield: 3.7%. Lower than top quartile of British dividend payers (5.9%). Lower than average of industry peers (5.1%). Announcement • May 18
PPL Corporation Declares Quarterly Common Stock Dividend, Payable July 3, 2023 PPL Corporation declared a quarterly common stock dividend on May 17, 2023 of $0.24 per share, payable July 3, 2023, to shareowners of record as of June 9, 2023. Announcement • May 05
PPL Corporation Reaffirms Earnings Guidance for the Year 2023 PPL Corporation reaffirmed earnings guidance for the year 2023. The company's 2023 earnings from ongoing operations forecast range is $1.65 per diluted share to $1.50 per diluted share, with a midpoint of $1.58 per diluted share. Estimate of reported earnings to be in the range of $1.56 per diluted share to $1.41 per diluted share, with a midpoint of $1.49 per diluted share. Reported Earnings • May 05
First quarter 2023 earnings released: EPS: US$0.39 (vs US$0.37 in 1Q 2022) First quarter 2023 results: EPS: US$0.39 (up from US$0.37 in 1Q 2022). Revenue: US$2.42b (up 36% from 1Q 2022). Net income: US$285.0m (up 4.4% from 1Q 2022). Profit margin: 12% (down from 15% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 4.0% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 02
Upcoming dividend of US$0.24 per share at 3.6% yield Eligible shareholders must have bought the stock before 09 March 2023. Payment date: 03 April 2023. Payout ratio is on the higher end at 90% but the company is not cash flow positive. Trailing yield: 3.6%. Lower than top quartile of British dividend payers (5.5%). Lower than average of industry peers (4.6%). Reported Earnings • Feb 20
Full year 2022 earnings released: EPS: US$0.97 (vs US$0.024 in FY 2021) Full year 2022 results: EPS: US$0.97 (up from US$0.024 in FY 2021). Revenue: US$7.90b (up 37% from FY 2021). Net income: US$713.0m (up US$695.0m from FY 2021). Profit margin: 9.0% (up from 0.3% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Feb 18
PPL Corporation Increases Quarterly Common Stock Dividend, Payable on April 3, 2023 PPL Corporation announced a 7% increase in its quarterly common stock dividend, raising the dividend from $0.225 per share to $0.24 per share. The increased dividend will be payable April 3, 2023, to shareowners of record as of March 10, 2023. Announcement • Feb 10
PPL Corporation to Report Q4, 2022 Results on Feb 17, 2023 PPL Corporation announced that they will report Q4, 2022 results at 9:30 AM, US Eastern Standard Time on Feb 17, 2023 Announcement • Jan 06
PPL Corporation Promotes Francis X. Sullivan to Executive Vice President and Chief Operating Officer PPL Corporation announced it has promoted Francis X. Sullivan to executive vice president and chief operating officer effective Jan. 1, 2023. Sullivan succeeds Gregory N. Dudkin, who is on extended medical leave and not expected to return to PPL. In his new position, Sullivan will report to PPL President and Chief Executive Officer Vincent Sorgi and oversee PPL's regulated utility operations, with the presidents of PPL's Kentucky, Pennsylvania and Rhode Island utility companies reporting to him. Dudkin will remain executive vice president while on medical leave. Sullivan brings more than four decades of energy industry experience to his new role. He joined PPL as vice president–Operations Performance on Oct. 1, 2021. Prior to PPL, he served as senior operations advisor for Kindle Energy LLC for more than two years and as an independent consultant to the power sector since 2018. From 2008 to 2018, Sullivan served as NRG Energy's senior vice president of operations and was accountable for one of largest portfolios of generation assets in the U.S. While at NRG, Sullivan was instrumental in driving operational excellence that resulted in a decade of continuous improvement in safety, environmental compliance, generation availability and operational efficiency. Prior to that, he served for more than a decade in a variety of leadership roles with Public Service Enterprise Group. He has a bachelor's degree in electrical engineering from Union College and a master's in business administration from Drexel University. Upcoming Dividend • Dec 01
Upcoming dividend of US$0.23 per share Eligible shareholders must have bought the stock before 08 December 2022. Payment date: 03 January 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 3.0%. Lower than top quartile of British dividend payers (5.7%). Lower than average of industry peers (4.4%). Reported Earnings • Nov 05
Third quarter 2022 earnings released: EPS: US$0.24 (vs US$0.27 in 3Q 2021) Third quarter 2022 results: EPS: US$0.24 (down from US$0.27 in 3Q 2021). Revenue: US$2.13b (up 41% from 3Q 2021). Net income: US$174.0m (down 17% from 3Q 2021). Profit margin: 8.2% (down from 14% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Buying Opportunity • Sep 27
Now 21% undervalued Over the last 90 days, the stock is up 1.3%. The fair value is estimated to be US$34.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.3% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 2.6% per annum. Earnings is also forecast to grow by 9.9% per annum over the same time period. Upcoming Dividend • Sep 01
Upcoming dividend of US$0.23 per share Eligible shareholders must have bought the stock before 08 September 2022. Payment date: 03 October 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.8%. Lower than top quartile of British dividend payers (5.5%). Lower than average of industry peers (4.3%). Reported Earnings • Aug 04
Second quarter 2022 earnings released: EPS: US$0.16 (vs US$0.70 loss in 2Q 2021) Second quarter 2022 results: EPS: US$0.16 (up from US$0.70 loss in 2Q 2021). Revenue: US$1.70b (up 32% from 2Q 2021). Net income: US$119.0m (up US$655.0m from 2Q 2021). Profit margin: 7.0% (up from net loss in 2Q 2021). The move to profitability was primarily driven by higher revenue. Over the next year, revenue is forecast to grow 2.5% compared to a 4.6% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Buying Opportunity • Jun 29
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 6.2%. The fair value is estimated to be US$33.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.7% over the last 3 years. Earnings per share has declined by 59%. For the next 3 years, revenue is forecast to grow by 2.5% per annum. Earnings is also forecast to grow by 14% per annum over the same time period. Buying Opportunity • Jun 09
Now 20% undervalued Over the last 90 days, the stock is up 12%. The fair value is estimated to be US$37.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.7% over the last 3 years. Earnings per share has declined by 59%. For the next 3 years, revenue is forecast to grow by 3.7% per annum. Earnings is also forecast to grow by 12% per annum over the same time period. Buying Opportunity • May 20
Now 21% undervalued Over the last 90 days, the stock is up 12%. The fair value is estimated to be US$36.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.7% over the last 3 years. Earnings per share has declined by 59%. For the next 3 years, revenue is forecast to grow by 3.9% per annum. Earnings is also forecast to grow by 12% per annum over the same time period. Reported Earnings • May 06
First quarter 2022 earnings released: EPS: US$0.37 (vs US$0.26 in 1Q 2021) First quarter 2022 results: EPS: US$0.37 (up from US$0.26 in 1Q 2021). Revenue: US$1.78b (up 19% from 1Q 2021). Net income: US$273.0m (up 35% from 1Q 2021). Profit margin: 15% (up from 14% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 12%, compared to a 3.2% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. 
