Ppl Stock Earnings Reports

PPL reported solid Q3 2025 results: GAAP EPS of $0.43 and ongoing EPS of $0.48. Management narrowed its 2025 ongoing earnings guidance to $1.78–$1.84 (midpoint $1.81) and reiterated confidence in achieving at least the midpoint, driven by operational discipline and cost savings. The company is on track to complete roughly $4.3 billion of infrastructure investment in 2025 and projects $20 billion of infrastructure investment from 2025–2028, supporting ~9.8% average annual rate-base growth. PPL continues to target at least $150 million in annual O&M savings (vs. 2021 baseline) and to deliver 6–8% annual EPS and dividend growth through at least 2028 (EPS expected in the top half of that range). Key regulatory developments: a proposed Kentucky rate settlement (approx. $235M aggregate revenue increase, authorized ROE 9.9%, stay-out through Aug 1, 2028) and partial KPSC approval of the CPCN allowing construction of two new combined-cycle units (Mill Creek 5 and Mill Creek 6 approved for construction; some cost-recovery mechanisms deferred). PPL filed its first Pennsylvania base distribution rate case in over a decade (requested ~ $300M / 8.6% net increase, forecast test year beginning July 1, 2026, requested ROE 11.3%). Data center demand is accelerating: projects in advanced stages in PPL Electric territory rose to 20.5 GW (with >11 GW publicly announced and ~5 GW already under construction) and an additional ~70 GW remains in the queue. PPL estimates at least $1 billion of incremental CapEx to serve the 20.5 GW. The company is actively engaged with PJM and state policymakers on resource adequacy reforms and favors a mix of long-term contracting, utility ownership backstops, and joint-venture solutions (notably a JV with Blackstone Infrastructure) to accelerate new generation. Finance: PPL has derisked a portion of its equity needs via forward sales (~$1.4B executed of $2.5B forecasted through 2028). Management emphasized affordability measures, customer protections in ESAs and tariffs for large loads, and plans to provide a refreshed business plan and 2026 guidance at year-end.