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PPL (PPL) investor relations material
PPL Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Raised annual EPS growth target to 7%-9% through at least 2030, with growth expected in the top half of the range from 2027.
The $25B 2027-2030 plan targets 10% rate-base CAGR, from $32.6B in 2026 to $47.8B in 2030; it excludes potential Invitium investment and earnings.
Kentucky generation and Invitium offer $12B-$16B of potential investment through 2032; Kentucky opportunities could lift EPS CAGR above 9% through 2030.
Financial highlights
Q3 reported EPS was $0.49 vs. $0.43; ongoing EPS was $0.54 vs. $0.48, on ongoing earnings of $411M vs. $355M.
Q3 reported results included $44M, or $0.05/share, of after-tax special-item charges, mainly system and integration impacts and the Rhode Island hold-harmless commitment.
9M ongoing earnings were $1.136B, or $1.50/share, vs. $1.039B, or $1.40/share; reported diluted EPS was $1.38 vs. $1.23.
Q3 revenue rose to $2.497B from $2.239B; operating income increased to $665M from $569M, and net income to $367M from $318M.
9M operating cash flow was $2.056B vs. $2.081B; PP&E expenditures increased to $3.530B from $2.868B.
Outlook and guidance
2026 ongoing EPS guidance narrowed to $1.92-$1.96 from $1.90-$1.98; the $1.94 midpoint remains the target, with results expected to meet or exceed it.
2027 EPS guidance is $2.06-$2.14, with a $2.10 midpoint, 8.2% above the 2026 ongoing EPS midpoint; it excludes potential Invitium contributions.
Kentucky's additional 1.6 GW demand opportunity could require $3.5B-$4.5B through 2030 and support EPS CAGR above 9%, subject to customer agreements and regulatory approval.
AI efficiencies are not materially reflected in the plan; potential benefits include cost savings, reliability gains and customer benefits.
- Revenue and operating income rose, but lower earnings and rising 2005 costs tempered the outlook.PPL
Q4 2004 - Higher revenue, lower earnings: fuel costs and one-time charges pressured FY05 results.PPL
Q4 2005 - Record ongoing earnings, a higher dividend and expansion plans anchor 2007 guidance.PPL
Q4 2006 - Market volatility and outages cut 2008 adjusted EPS to $2.02; 2009 guidance was $1.60–$1.90.PPL
Q4 2008 - Record ongoing-operations EPS and major divestitures marked a growth-focused 2007.PPL
Q4 2007 - A major regulated-utility expansion fueled 2010 gains, while softer power markets clouded Supply’s 2011 outlook.PPL
Q4 2010 - Ongoing earnings held near plan as special items cut reported net income and 2010 guidance points higher.PPL
Q4 2009 - Regulated acquisitions lifted earnings as competitive energy margins weakened.PPL
Q4 2011 - Higher reported earnings and a planned shift to regulated-utility growth defined 2014.PPL
Q4 2014 - Ongoing EPS climbed 9% as the portfolio transitioned to fully regulated utilities.PPL
Q4 2015
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