Ppl Stock Earnings Reports

PPL reported solid Q1 2026 results with GAAP EPS of $0.60 and ongoing EPS of $0.63, and reaffirmed 2026 ongoing earnings guidance of $1.90–$1.98 (midpoint $1.94). Management remains on track to complete about $5.1 billion of 2026 investments and reiterated a long-term ~$23 billion capital plan through 2029, driving ~10.3% average annual rate base growth and 6%–8% annual EPS growth through at least 2029. Key regulatory developments: a constructive settlement in the PPL Electric Utilities Pennsylvania base rate case (administrative law judges recommended approval) that would raise bills by under 4% across classes and includes a two-year stay-out and enhanced low-income protections; ongoing reconsideration proceedings in Kentucky for LG&E/KU; Rhode Island received approval for ~$330M of ISR investments and continues its base rate case with proposed hold-harmless customer bill credits. Demand-side drivers: data center pipeline growth (28.3 GW advanced-stage in PA; ~12.9 GW potential in KY) is driving transmission and potential generation opportunities. Strategic growth: momentum in the Blackstone joint venture to develop generation for large loads (management expects meaningful JV-related commercial announcements potentially this year), turbine reservations and PJM interconnection submissions are underway, and PPL is pursuing partnerships for pumped storage (Rye Development) and small modular nuclear (X-energy) in Kentucky. Financials/finance actions: Q1 ongoing results improved vs. prior year, driven by higher base rates and transmission revenue; PPL executed a $1.15B equity units offering de‑risking ~2/3 of equity needs for the current capex plan and will use ATM and opportunistic equity-like instruments for remaining funding. Management emphasized affordability and capital discipline as core priorities while pursuing growth opportunities that they believe will improve system utilization and benefit customers and shareholders.