Key Takeaways PPL upgrades transmission and distribution networks to improve reliability and meet rising power demand.PPL plans to invest $23 billion through 2029, targeting 10.3% annual rate-base growth.
PPL's grid upgrades and data center pipeline support capacity expansion and earnings growth.
PPL Corporation (PPL - Free Report) is modernizing its transmission and distribution network to improve grid reliability, reduce outages and accommodate rising electricity demand. The company is making strategic infrastructure investments to support growing power needs and strengthen long-term system performance.
Recently, PPL subsidiary Rhode Island Energy announced an $8.2 million project in Middletown to replace 65 aging wooden transmission structures with steel monopoles. The project aims to improve grid reliability, extend the life of critical electric assets and reduce long-term maintenance requirements.
PPL unit PPL Electric Utilities was selected to receive up to $71.5 million in U.S. Department of Energy funding for its Montour Grid Resilience and Advanced Reconductoring Project. The initiative will modernize 29.3 miles of existing transmission lines using advanced conductors and grid-monitoring technology, enhancing transmission capacity and reliability while helping manage infrastructure investment costs.
The company plans to invest $23 billion through 2029, including $8 billion for transmission and $7.2 billion for distribution infrastructure. The program focuses on system hardening, smart-grid technology, automation and network expansion. PPL expects these investments to drive 10.3% average annual rate-base growth and support 6-8% annual earnings per share (EPS) growth through 2029.
Meanwhile, rising demand from the data center pipeline and economic development across PPL’s service territories create opportunities for additional electricity demand. Modernizing existing infrastructure can help accommodate this growth while improving operational efficiency.
Overall, PPL’s infrastructure upgrades and substantial capital spending support grid reliability, capacity expansion and long-term earnings growth.
Grid Upgrades Strengthen Utilities’ Growth ProspectsGrid modernization enables utilities to improve operational efficiency and ease transmission congestion. These upgrades support renewable integration, expand rate bases and strengthen long-term earnings growth prospects. PPL is not alone in prioritizing grid modernization, as other utilities are investing heavily to strengthen infrastructure and reliability.
FirstEnergy Corp. (FE - Free Report) Energize365 program focuses on transmission and distribution upgrades, backed by $36 billion in planned investments through 2030, including more than $19 billion for transmission.
Eversource Energy (ES - Free Report) continues investing in grid modernization, with $26.5 billion planned through 2030, including $7.24 billion for transmission and $11.24 billion for electric distribution.
The Zacks Rundown on PPLPPL’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 and 2027 EPS indicates a year-over-year increase of 7.18% and 8.77%, respectively.
Image Source: Zacks Investment Research
Debt to CapitalPPL's debt-to-capital currently stands at 57.46%, lower than the Zacks Utility - Electric Power industry’s 62.33%.
Image Source: Zacks Investment Research
PPL’s Stock Price PerformanceIn the past month, the company’s shares have risen 9.1% compared with the industry’s 9% growth.
, /PRNewswire/ -- PPL Corporation (NYSE:PPL) will release consolidated third-quarter 2026 earnings results on Friday, Nov. 6, 2026. PPL also plans to provide its annual business plan update in conjunction with third-quarter earnings.
Vincent Sorgi, PPL president and chief executive officer, and other members of PPL's executive team will discuss quarterly results and the company's general business outlook during a conference call with financial analysts beginning at 11 a.m. Eastern Time.
The call will be webcast live, in audio format, along with slides of the presentation. Interested individuals can access the webcast link at www.pplweb.com/investors under Events and Presentations or join the live conference call by telephone at 1-844-512-2926. International participants should call 1-412-317-6300. Participants will need to enter the following "Elite Entry" number to join the conference: 7654135.
For those who are unable to listen to the live webcast, a replay with slides will be accessible at www.pplweb.com/investors for 90 days after the call.
About PPL
PPL Corporation (NYSE: PPL), headquartered in Allentown, Pennsylvania, is a leading U.S. energy company focused on providing electricity and natural gas safely, reliably and affordably to more than 3.6 million customers in the U.S. PPL's high-performing, award-winning utilities are addressing energy challenges head-on by building smarter, more resilient and more dynamic power grids and advancing sustainable energy solutions. For more information, visit www.pplweb.com.
Contacts: For news media: Ryan Hill, 610-774-4033
For financial analysts: Andy Ludwig, 610-774-3389
Louisbourg Investments Inc. reduced its position in Pembina Pipeline Corp. (NYSE:PBA – Free Report) (TSE:PPL) by 12.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 123,229 shares of the pipeline company’s stock after selling 18,248 shares during the period. Louisbourg Investments Inc.’s holdings in Pembina Pipeline were worth $5,518,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Western Wealth Management LLC purchased a new stake in shares of Pembina Pipeline in the first quarter valued at $25,000. Dunhill Financial LLC acquired a new position in Pembina Pipeline in the second quarter valued at $31,000. N.E.W. Advisory Services LLC acquired a new position in Pembina Pipeline in the second quarter valued at $31,000. Integrated Wealth Concepts LLC purchased a new position in Pembina Pipeline during the second quarter worth about $33,000. Finally, Markowski Investments purchased a new position in Pembina Pipeline during the second quarter worth about $54,000. Hedge funds and other institutional investors own 55.37% of the company’s stock.
Analysts Set New Price Targets Several research firms have commented on PBA. Barclays restated an “overweight” rating on shares of Pembina Pipeline in a report on Wednesday, October 7th. Scotiabank downgraded shares of Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, July 20th. TD Securities reiterated a “buy” rating on shares of Pembina Pipeline in a report on Friday. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Pembina Pipeline in a research report on Friday, July 3rd. Finally, Raymond James Financial reissued an “outperform” rating on shares of Pembina Pipeline in a research report on Wednesday, October 14th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.
View Our Latest Analysis on Pembina Pipeline Pembina Pipeline Price Performance PBA opened at $50.11 on Wednesday. Pembina Pipeline Corp. has a twelve month low of $36.20 and a twelve month high of $51.58. The firm has a market cap of $29.14 billion, a price-to-earnings ratio of 25.68 and a beta of 0.62. The company has a current ratio of 0.62, a quick ratio of 0.50 and a debt-to-equity ratio of 0.78. The company has a fifty day simple moving average of $47.75 and a 200 day simple moving average of $47.40.
Pembina Pipeline (NYSE:PBA – Get Free Report) (TSE:PPL) last issued its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.46 billion. Pembina Pipeline had a return on equity of 11.41% and a net margin of 22.41%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.65 EPS. Equities research analysts expect that Pembina Pipeline Corp. will post 2.20 EPS for the current fiscal year.
Pembina Pipeline Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were paid a C$0.73 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $2.94 annualized dividend and a dividend yield of 5.9%. Pembina Pipeline’s payout ratio is 103.92%.
(Free Report)
Pembina Pipeline Corporation is a Canadian energy infrastructure company headquartered in Calgary, Alberta. Founded in 1954, the company owns and operates pipelines and related facilities that transport and process hydrocarbon products, primarily in Western Canada.
Pembina’s operations include conventional and oil sands pipelines, natural gas gathering and processing facilities, fractionation and storage assets, and infrastructure for moving natural gas liquids such as propane, butane and ethane.
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PPL Corporation (NYSE: PPL - Get Free Report) EVP Wendy Stark sold 5,406 shares of the firm's stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $35.11, for a total transaction of $189,804.66. Following the sale, the executive vice president directly owned 99,220 shares of the
Key Takeaways PPL plans $23B in investments through 2029, targeting 10.3% average annual rate-base growth.
PPL targets 6-8% annual EPS growth through 2029 and 2026 EPS of $1.90-$1.98.
PPL raised its 2026 dividend by 4.6%, targeting 4-6% annual growth and a 50-60% payout ratio.
PPL Corporation (PPL - Free Report) aims to sustain shareholder returns through earnings growth and dividend increases while investing in regulated utility infrastructure.
The company’s capital allocation strategy centers on strengthening its regulated utility operations while expanding infrastructure to meet growing electricity demand. PPL plans infrastructure investments of $23 billion for the 2026-2029 period. These investments are expected to support average annual rate base growth of approximately 10.3% through 2029. It prioritizes modernizing transmission and distribution networks, improving grid reliability, and expanding generation and transmission infrastructure.
PPL raised its quarterly dividend by 4.6% in 2026 to an annualized $1.14 per share and continues to target 4-6% annual dividend growth through 2029, subject to board approval. The company also expects its dividend payout ratio to remain within 50-60% through the plan period.
PPL targets annual earnings per share (EPS) growth of 6-8% through at least 2029. Its 2026 ongoing EPS forecast remains $1.90-$1.98 per share, with a midpoint of $1.94. If infrastructure investments generate timely regulatory recovery and operating efficiencies, they could support earnings growth alongside rising dividends.
Overall, PPL’s capital allocation strategy offers a framework for combining infrastructure-led earnings growth with recurring shareholder distributions. Its success will depend on converting planned investments into earnings while managing financing needs and preserving balance-sheet strength.
Strategic Capital Allocation Drives Utility GrowthUtilities strategically allocate capital toward infrastructure upgrades, technology adoption and operational efficiency to strengthen financial performance. Disciplined investment decisions enhance asset utilization, support sustainable profitability and create long-term shareholder value. Apart from PPL, other utility companies are also benefiting from strategic capital allocation.
FirstEnergy Corp. (FE - Free Report) plans $36 billion in infrastructure investments through 2030, supporting regulated rate-base expansion, earnings growth, dividend sustainability and long-term shareholder value creation.
Edison International (EIX - Free Report) plans $38-$41 billion in capital investments through 2030, supporting approximately 7% annual rate-base growth, strengthening earnings potential and long-term shareholder returns.
The Zacks Rundown on PPLPPL’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 and 2027 EPS indicates a year-over-year increase of 7.18% and 8.77%, respectively.
Image Source: Zacks Investment Research
Debt to CapitalPPL's debt-to-capital currently stands at 57.46%, lower than the Zacks Utility - Electric Power industry’s 62.33%.
Image Source: Zacks Investment Research
PPL’s Stock Price PerformanceIn the past month, the company’s shares have risen 1.6% against the industry’s 1.1% decline.
Image Source: Zacks Investment Research
PPL’s Zacks RankPPL currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways PPL is expanding generation capacity to meet rising power demand and support new large-load customers.PPL Electric's data center pipeline reached 31.8 GW, with more than 11 GW under signed agreements.PPL's generation plans include more than 5 GW of gas projects in PJM's interconnection queue. PPL Corporation (PPL - Free Report) is benefiting from the expansion of its generation portfolio to meet rising electricity demand. The expansion strengthens its ability to serve new large-load customers and support infrastructure investments.
On Oct. 5, 2026, Louisville Gas and Electric Company and Kentucky Utilities Company issued a request for proposals for at least 50 megawatts (MW) of firm, dispatchable thermal capacity through power purchase agreements, asset purchases and build-transfer arrangements. The RFP is intended to supplement approved generation plans and support rising electricity demand.
PPL’s Kentucky non-coal portfolio comprises approximately 2,000 MW of natural-gas, 240 MW of solar and more than 500 MW of battery storage, alongside $5.7 billion of planned generation investments through 2029. Invitium Energy, PPL’s 51%-owned joint venture with Blackstone, has sites capable of supporting 8-14 gigawatts (GWs) of generation capacity. More than 5 GW of combined-cycle gas turbine projects have entered PJM’s interconnection queue, while over 5 GW of turbine reservations could support $12.5-$15 billion of investment through 2032.
In the second quarter, PPL Electric’s data center pipeline reached 31.8 GW, with more than 11 GW under signed electric service agreements and over 6.5 GW under construction. Two data centers began taking service and are expected to ramp to about 2 GW by 2031. Expanding generation capacity can help PPL meet rising electricity demand, facilitate new connections and accommodate increasing customer load.
Overall, PPL’s generation initiatives could enhance reliability and create greater capacity to accommodate evolving customer requirements.
Generation Expansion Strengthens Utility GrowthUtilities are expanding generation capacity to meet rising electricity demand from data centers, industrial customers and broader electrification. These investments can expand regulated rate bases, improve reliability and support long-term earnings growth.
Alliant Energy (LNT - Free Report) is expanding generation and energy-storage resources to serve accelerating customer demand. These investments increased its regulated rate base and contributed positively to second-quarter 2026 earnings.
Duke Energy (DUK - Free Report) continues to invest in efficient generation resources to accommodate growing electricity requirements across its service territories. Generation expansion should strengthen system reliability while creating additional regulated investment opportunities.
The Zacks Rundown on PPLPPL’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 and 2027 EPS indicates a year-over-year increase of 7.18% and 8.77%, respectively.
Image Source: Zacks Investment Research
Debt to CapitalPPL's debt-to-capital currently stands at 57.46%, lower than the Zacks Utility - Electric Power industry’s 62.33%.
Image Source: Zacks Investment Research
PPL’s Stock Price PerformanceIn the past three months, the company’s shares have plunged 6.3% compared with the industry’s 10.7% decline.
Key Takeaways PPL plans $23B in capital spending through 2029, targeting 6-8% annual earnings growth. PPL sees strong data center demand, with Pennsylvania demand reaching 31.8 GW in Q2 2026.PPL targets $175M in 2026 O&M savings and 6-8% annual dividend growth through 2028. PPL Corporation’s (PPL - Free Report) shares have lost 9.2% in the past three months, narrower than the Zacks Utility-Electric Power industry’s decrease of 12.7% and the Zacks Utilities sector’s decline of 11.5% in the same time frame.
PPL faces rising competition in the transmission business, which could weigh on its operating performance, while unforeseen operational disruptions may affect financial results.
However, the company is poised to benefit from increasing data center demand in Pennsylvania and Kentucky, where energy-intensive facilities are driving higher electricity consumption. PPL is also improving operating efficiency to control costs while its strategic capital expenditure is further strengthening its infrastructure.
Price Performance (Three months)
Image Source: Zacks Investment Research
Another operator in the same space, Xcel Energy (XEL - Free Report) , is making a substantial investment to strengthen its infrastructure to provide reliable services to customers. Xcel Energy’s shares have lost 11.1% over the last three months.
Should investors consider adding PPL to their portfolio based on the current softness in price movements? Let us delve deeper and find out the factors that can help investors decide whether it is a good entry point to add PPL stock to their portfolios.
Key Catalysts Shaping PPL Corporation’s Long-Term GrowthPPL’s $23 billion capital investment plan through 2029 is focused on infrastructure modernization and the deployment of advanced technologies. These investments should enhance operational efficiency, lower maintenance needs and support cost management. Backed by these initiatives, PPL expects annual earnings growth of 6-8% through 2029, trending toward the upper end of the range.
More than 60% of PPL’s capital investment program qualifies for contemporaneous recovery, which helps limit regulatory lag and supports earnings stability. Quicker recovery of capital expenditures also strengthens the company’s ability to fund long-term infrastructure investments efficiently.
PPL continues to benefit from strong large-load demand, which supports future electricity consumption and infrastructure investment. In Pennsylvania, advanced-stage data center demand rose 12% sequentially to 31.8 GW in second-quarter 2026. In Kentucky, the development pipeline reached 13.7 GW through 2032, including 11.6 GW from data centers, while signed reimbursement agreements increased to 1.3 GW from 0.9 GW.
PPL remains focused on disciplined cost management, achieving $170 million in annual run-rate O&M savings in 2025 and targeting $175 million in 2026 versus 2021 levels. These efficiencies should support customer affordability, competitive rates and stronger long-term operating performance.
Headwinds for PPL StockPPL faces continued competition in Pennsylvania’s transmission market. In addition, severe weather, cybersecurity threats, equipment failures and fuel supply disruptions could interrupt operations and weigh on the company’s earnings and profitability.
PPL Stock’s Earnings Estimate Moving UpRegulated utilities offer relatively strong earnings visibility, as regulators typically allow an authorized return on approved infrastructure investments. Rising electricity demand from AI data centers is driving utilities to accelerate grid spending, expanding rate base and supporting long-term earnings growth.
The Zacks Consensus Estimate for PPL’s 2026 and 2027 earnings per share indicates year-over-year growth of 7.18% and 8.77%, respectively.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for XEL’s 2026 and 2027 earnings per share also indicates year-over-year growth of 8.42% and 9.22%, respectively.
PPL’s Debt to CapitalUtility operations are capital-intensive and companies in this sector often need to borrow to fund long-term projects when internal resources are insufficient. The company is also borrowing funds to meet its capital requirements.
Despite a recent 25-basis-point rate increase, PPL’s second-quarter 2026 Times Interest Earned ratio of 2.8 reflects adequate capacity to meet its interest obligations. Its debt-to-capital ratio of 57.46% also remains below the industry level of 62.33%. Continued access to debt markets, timely regulatory recovery and disciplined capital allocation should support future rate-base and earnings growth.
Image Source: Zacks Investment Research
Another utility, Exelon Corporation (EXC - Free Report) , has strong transmission and distribution operations and is investing strategically to further expand its infrastructure. EXC’s debt to capital is currently pegged at 63.95%, which is higher than its industry average.
PPL Increases Value of Its ShareholdersThe company has been distributing dividends to its shareholders for a long time and plans to increase dividends annually in the range of 6-8% at least through 2028, subject to the board’s approval. PPL’s current quarterly dividend rate is 28.5 cents, resulting in an annual dividend of $1.14 per share. The current dividend yield is 3.48%, better than the industry’s yield of 3.18%.
PPL has raised dividends for its shareholders five times in the past five years. Check PPL’s dividend history here.
Exelon also distributes dividends to its shareholders. The current annual dividend rate of Exelon Corporation is $1.68 per share, reflecting a dividend yield of 4.12%.
PPL Stock Trades at a PremiumPPL Corporation is currently valued at a premium compared with its industry on a forward 12-month P/E basis. The stock is trading at a P/E F12M of 15.83X compared with its industry’s 13.63X.
Image Source: Zacks Investment Research
Summing UpPPL is benefiting from accelerating electricity demand from data centers and timely regulatory recovery mechanisms, which support efficient funding of its long-term growth initiatives. The company is also strengthening grid reliability through infrastructure upgrades, IT modernization and its expanded $23 billion capital investment plan, positioning it to serve rising demand across its territories.
PPL currently trades at a premium valuation, but rising earnings estimates, relatively lower debt usage and consistent shareholder returns support its investment appeal. Given the recent softness in its share price, investors may consider adding this Zacks Rank #2 (Buy) stock to their portfolios.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
PPL (PPL - Free Report) closed the most recent trading day at $32.58, moving +1.46% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.17%. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq lost 0.09%.
Heading into today, shares of the energy and utility holding company had lost 5.92% over the past month, outpacing the Utilities sector's loss of 7.05% and lagging the S&P 500's loss of 0.24%.
Investors will be eagerly watching for the performance of PPL in its upcoming earnings disclosure. In that report, analysts expect PPL to post earnings of $0.53 per share. This would mark year-over-year growth of 10.42%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.44 billion, up 8.82% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.95 per share and a revenue of $9.73 billion, signifying shifts of +7.73% and +7.55%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for PPL. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.15% higher. PPL is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, PPL currently has a Forward P/E ratio of 16.49. This represents a premium compared to its industry average Forward P/E of 16.19.
Meanwhile, PPL's PEG ratio is currently 3.14. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Utility - Electric Power industry was having an average PEG ratio of 2.38.
The Utility - Electric Power industry is part of the Utilities sector. At present, this industry carries a Zacks Industry Rank of 110, placing it within the top 45% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Key Takeaways PPL's lower debt, cheaper valuation and higher dividend yield strengthen its investment case against XEL.Xcel Energy and PPL are investing heavily in their infrastructure to maintain high-quality services.PPL has a 3.6% dividend yield and 57.46% debt-to-capital ratio, versus XEL's 3.4% and 62.12%. The companies, which belong to the Zacks Utility- Electric Power utility industry, are undergoing a significant transformation rising power consumption from data centers, artificial intelligence applications, electric vehicles, building electrification and domestic manufacturing is reshaping demand patterns. To address these requirements, utilities are stepping up investments in generation, transmission and grid modernization to strengthen reliability and support long-term growth. Improving electricity pricing also provides an additional tailwind for the industry.
Against this evolving industry backdrop, let us focus on PPL Corporation (PPL - Free Report) and Xcel Energy (XEL - Free Report) . Both are U.S.-regulated electric utilities making substantial investments in grid infrastructure, cleaner generation and system upgrades to meet rising electricity demand.
Utilities are advancing their transition toward cleaner generation by retiring coal-fired capacity and increasing investments in wind, solar, nuclear energy and battery storage. Federal incentives and state-level decarbonization goals continue to encourage capital deployment toward regulated infrastructure that can generate relatively predictable returns while lowering emissions.
PPL Corporation operates as a fully regulated utility, with investments focused on modernizing infrastructure, strengthening reliability and supporting cleaner energy deployment. Its regulated business model provides relatively predictable cash flows, while constructive regulatory frameworks and continued capital investment support earnings growth. PPL’s ongoing grid modernization and decarbonization initiatives are also expected to strengthen system performance and create long-term value. The company continues to project $23 billion of regulated capital investment needs for 2026-2029 and about $5.1 billion of spending in 2026.
Xcel Energy is supported by a sizable capital investment program, expanding electricity demand and a long-standing focus on cleaner generation. The company continues to invest in transmission, distribution and modern generation resources to improve system reliability and accommodate customer growth. Its investments in wind, solar and energy storage, together with broader electrification trends across transportation, technology and industrial activity, provide additional opportunities for sustained earnings growth. Xcel Energy plans to invest $60 billion in the 2026-2030 period to upgrade its assets.
With electricity demand and clean energy investment continuing to expand, it is worth examining the fundamentals of PPL and Xcel Energy to assess how the two companies compare as investment opportunities in 2026.
Movement in Earnings EstimatesThe Zacks Consensus Estimate for PPL’s 2026 and 2027 earnings per share (EPS) indicates a year-over-year increase of 7.73% and 8.35%, respectively. Long-term (three to five years) earnings growth is currently pegged at 7.52%.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for XEL’s 2026 and 2027 EPS indicates a year-over-year increase of 8.42% and 9.36%, respectively.
Image Source: Zacks Investment Research
PPL & XEL’s Dividend YieldRegulated utility companies generally distribute dividends and increase shareholders’ value.
Currently, the dividend yield for PPL is 3.6% compared with the industry’s 3.22% and the same for Xcel Energy is 3.4%. Both companies have raised dividends five times in the past year. PPL’s dividend yield is better than XEL and its industry.
Return on EquityReturn on Equity (“ROE”) is an essential financial indicator that evaluates a company’s efficiency in generating profits from the equity invested by its shareholders. It demonstrates how well management is utilizing the capital provided to increase earnings and deliver value.
PPL’s current ROE is 9.33% compared with Xcel Energy’s 10.65%.
Image Source: Zacks Investment Research
ValuationXcel Energy currently appears to be trading at a slight premium compared with PPL on a Price/Earnings Forward 12-month basis. (P/E- F12M).
XEL is currently trading at 15.75X, compared with PPL’s 15.52X. The industry is presently trading at 16.56X.
Image Source: Zacks Investment Research
Debt to Capital RatioThe debt-to-capital ratio is a vital indicator of the financial position of a company. The indicator shows the amount of debt used to run a business. Utilities generally have a large volume of debt on their balance sheet, as internal sources of funds are often insufficient to accommodate their funding requirements. Recently, Federal Reserve chair Kevin Warsh formally announced the much-anticipated benchmark interest rate hike by 25 basis points, taking the funds rate in the range of 3.75% to 4%.
PPL and Xcel Energy have a debt-to-capital of 57.46% and 62.12%, respectively, compared with the industry’s 62.33%.
Image Source: Zacks Investment Research
Summing UpPPL Corporation and Xcel Energy have been consistently investing in infrastructure upgrades and have extensive plans to strengthen and expand their asset bases further. Their growing clean energy generation capacity should help meet rising electricity demand across their respective service territories.
Although Xcel Energy delivers a stronger return on equity, PPL’s relatively lower debt usage, more attractive valuation and higher dividend yield strengthen its investment case. These advantages make PPL the more compelling choice between the two utility stocks.
Both PPL and XEL currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways PPL cut other O&M expenses 6.84% in Q2 2026 while strengthening cost controls across regulated utilities.PPL secured up to $71.5M in DOE funding to modernize 29.3 miles of transmission infrastructure.PPL's $23B capital plan through 2029 targets efficiency gains and 6-8% annual earnings growth. PPL Corporation (PPL - Free Report) is focusing on improving operating efficiency to control costs while expanding its infrastructure investment program. The company is strengthening project execution, optimizing operations and controlling expenses across its regulated utility businesses.
In the second quarter of 2026, other operations and maintenance (O&M) expenses decreased 6.84%, indicating lower underlying costs and continued efforts to control expenses across regulated utility operations. Rhode Island Energy also benefited from lower operating expenses during the quarter.
PPL is using technology to streamline utility operations, enhance system reliability and manage expenses while limiting pressure on customer rates. On Sept. 24, 2026, PPL Electric secured up to $71.5 million in U.S. Department of Energy funding to modernize 29.3 miles of transmission infrastructure. The project will use advanced technologies to increase transmission capacity, improve reliability and maximize existing corridor utilization, supporting efficient energy delivery.
The company’s $23 billion capital investment plan through 2029 focuses on modernizing infrastructure and deploying advanced technology. These investments are expected to improve operational efficiency, reduce maintenance requirements and help control operating costs. PPL targets 6-8% annual earnings growth through 2029, with growth expected to trend toward the upper end.
These initiatives can help offset cost pressures by improving asset utilization, reducing maintenance requirements and enhancing the efficiency of utility operations, potentially linking cost management to PPL’s earnings objectives.
Enhancing Operational Performance Supports Utility GrowthEnhancing operational performance helps utilities lower operating and maintenance costs while improving system reliability. Greater efficiency can support capital investment, customer affordability and long-term earnings growth.
PG&E Corporation (PCG - Free Report) benefited from lower net O&M expenses in the second quarter of 2026, which supported earnings as the company continued to target a 2-4% reduction in non-fuel O&M costs
NextEra Energy (NEE - Free Report) subsidiary Florida Power & Light Company reported non-fuel O&M costs over 70% below the industry average on a dollar-per-megawatt-hour basis in the second quarter of 2026, helping maintain customer affordability and reliability.
The Zacks Rundown on PPLPPL’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 and 2027 EPS indicates a year-over-year increase of 7.73% and 8.35%, respectively.
Image Source: Zacks Investment Research
PPL's Debt to CapitalPPL's debt-to-capital currently stands at 57.46%, lower than the electric power industry’s 62.33%.
Image Source: Zacks Investment Research
PPL’s Stock Price PerformanceIn the past three months, the company’s shares have plunged 13.2% compared with the industry’s 14.7% decline.
Project will modernize 29.3 miles of existing transmission infrastructure to strengthen reliability, resilience and grid capacity.
, /PRNewswire/ -- PPL Electric Utilities today joined U.S. Department of Energy Secretary Chris Wright, elected officials, project stakeholders and community leaders to announce that the company has been selected to receive up to $71.5 million in federal funding from the U.S. Department of Energy to support the Montour Grid Resilience and Advanced Reconductoring Project, a major modernization of an existing 230-kilovolt transmission corridor. The funding is being made available through the DOE's Speed to Power through Accelerated Reconductoring and other Key Advanced Transmission Technology Upgrades (SPARK) Program.
The proposed Montour Grid Resilience and Advanced Reconductoring Project will rebuild approximately 29.3 miles of existing transmission line, replacing aging infrastructure with advanced technologies that strengthen reliability, enhance the line's available capacity and support growing energy needs while maximizing the use of existing infrastructure, providing long-term reliability and affordability benefits to customers throughout the Susquehanna Valley, Greater Lehigh Valley and Northeast Pennsylvania.
"Today's announcement reinforces the Trump Administration's commitment to commonsense energy addition policies that lower electricity prices and strengthen our grid," said U.S. Secretary of Energy Chris Wright. "These investments will get more out of the infrastructure we already have, move more electricity across the grid, and help deliver affordable, reliable and secure power that will fuel American prosperity for decades to come."
"This Department of Energy funding will help PPL Electric modernize critical infrastructure, strengthen reliability and resilience and deploy advanced technologies that will help inform future grid investments," said PPL Electric Utilities President Christine Martin. "By bringing these federal resources into Pennsylvania, we can maximize the impact of every infrastructure dollar invested while helping minimize costs for customers and delivering long-term value for the communities we serve."
Support for Pennsylvania's energy infrastructure
The project has received support from federal and state stakeholders who recognize the importance of strengthening Pennsylvania's electric infrastructure and supporting future economic growth.
"Pennsylvanians need cheaper, more reliable power, and this grant will bring us closer to that goal," said Senator Dave McCormick (R-PA). "I'm proud to have supported this grant, which will strengthen the grid, encourage job-creating investments, and ensure lower-cost electricity for Pennsylvanians across the northeast and Lehigh Valley. I commend PPL and Secretary Chris Wright for their commitment to growing our great Commonwealth."
"Since day one, Secretary Wright and the Trump administration have been leading the effort to modernize America's electric grid, strengthen energy reliability and ensure we have the infrastructure needed to meet growing energy demand," said Congressman Dan Meuser. "This investment is an example of how the Trump Administration is working with our industry partners to put federal resources to work on critical infrastructure projects here in Pennsylvania. I'd like to thank President Trump and Secretary Wright for helping deliver more reliable power for families and businesses."
"Pennsylvania is an energy powerhouse, and the Lehigh Valley and the Poconos deserve a grid system that promotes affordability and reliability for local families and businesses," said Congressman Ryan Mackenzie. "That's why I support commonsense, all-of-the-above solutions that strengthen our energy infrastructure and help keep costs down for working families, seniors and small businesses. This investment will help modernize critical transmission infrastructure, expand capacity and strengthen reliability for customers across our region. I appreciate Secretary Wright and PPL Electric Utilities for their work to bring this investment to Pennsylvania."
Innovative project technologies
The project will deploy two advanced transmission technologies supported through DOE's SPARK Program:
Advanced Conductors: PPL Electric will use a combination of Aluminum Conductor Steel Supported (ACSS) and Aluminum Conductor Composite Core (ACCC) conductors on targeted segments of the line. These advanced conductors can carry more electricity, improve performance during high temperatures and provide greater long-term reliability while maximizing use of the existing transmission corridor.
Distributed Acoustic Sensing: The project will install dual optical ground wire to strengthen system protection and communications while expanding the corridor's fiber network. PPL Electric will use that fiber network to demonstrate Distributed Acoustic Sensing (DAS) technology and evaluate new tools to better understand, monitor and operate the electric grid.
Over the coming months, PPL Electric will work with the DOE to negotiate and finalize the terms of the award.
About the SPARK Initiative
The U.S. Department of Energy's Speed to Power through Accelerated Reconductoring and other Key Advanced Transmission Technology Upgrades (SPARK) initiative supports projects that modernize and strengthen the nation's electric grid by upgrading existing transmission infrastructure with advanced technologies. Funded through the Grid Resilience and Innovation Partnerships (GRIP) Program, SPARK is designed to increase grid capacity, improve reliability and resilience, reduce congestion, and deliver additional electricity using existing transmission corridors. Selected projects demonstrate how advanced conductors, grid-enhancing technologies and other innovative solutions can help meet growing energy demand while improving the efficiency and performance of the electric system.
About PPL Electric Utilities
PPL Electric Utilities delivers safe, reliable and affordable electricity to about 1.5 million homes and businesses in eastern and central Pennsylvania. It regularly ranks among the country's best utility companies for reliability and customer satisfaction. PPL Electric Utilities is a major employer and an active supporter of the communities it serves. It is a part of the PPL Corporation (NYSE: PPL) family of companies. Visit pplelectric.com or connect on social media via Facebook, X and Instagram for energy efficiency tips, bill help information, guidance on shopping for an electricity supplier, storm updates and more.
Note to Editors: Visit our media website at https://news.pplweb.com/ for additional news and background about PPL Corporation.
Contact: For news media: Dana Burns, [email protected], 610-774-5409
PPL Electric Utilities
PPL (PPL - Free Report) closed the most recent trading day at $32.25, moving -1.92% from the previous trading session. This move lagged the S&P 500's daily loss of 0.76%. At the same time, the Dow lost 0.68%, and the tech-heavy Nasdaq lost 1.13%.
The energy and utility holding company's shares have seen a decrease of 6.03% over the last month, not keeping up with the Utilities sector's loss of 4.18% and the S&P 500's gain of 1.26%.
Investors will be eagerly watching for the performance of PPL in its upcoming earnings disclosure. The company is expected to report EPS of $0.53, up 10.42% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.44 billion, up 8.82% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.95 per share and revenue of $9.77 billion, which would represent changes of +7.73% and +8%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for PPL. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.15% higher. Currently, PPL is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, PPL is at present trading with a Forward P/E ratio of 16.89. This expresses a premium compared to the average Forward P/E of 16.62 of its industry.
It is also worth noting that PPL currently has a PEG ratio of 3.21. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Utility - Electric Power industry had an average PEG ratio of 2.46.
The Utility - Electric Power industry is part of the Utilities sector. This industry, currently bearing a Zacks Industry Rank of 104, finds itself in the top 43% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PPL in the coming trading sessions, be sure to utilize Zacks.com.
Key Takeaways PPL completed its remaining 2026 financing with $900M of debt offerings due in 2056. PPL executed $2.3B of its 2026 capital plan through Q2, nearly 30% above the year-ago period. PPL targets about $23B of investments through 2029, supporting a 10.3% average annual rate-base growth. PPL Corporation's (PPL - Free Report) financing strategy is supporting an extensive capital program while preserving financial flexibility. The strategy emphasizes maintaining liquidity while effectively managing financing requirements.
In the second quarter of 2026, PPL completed its remaining planned financing for the year through two debt offerings. The $500 million PPL Electric issuance at 5.75% and the $400 million Rhode Island Energy issuance at 6% are both due in 2056.
The company executed $2.3 billion of its 2026 capital plan through the second quarter, nearly 30% above the comparable period of 2025. It continues to target about $23 billion of capital investments through 2029, supporting average annual rate-base growth of 10.3%.
PPL estimates $10-$12 billion of potential generation-related investment upside through 2032 from economic development activity in Pennsylvania and Kentucky. The company forecasts annual EPS growth in the 6-8% range through 2029. Cash generation remains an important funding source, with PPL generating $1.14 billion in operating cash flow during the first six months of 2026, up 2.24% year over year. PPL issued $2.05 billion of long-term debt and retired $668 million while targeting a Funds From Operations and Cash Flow From Operations-to-debt ratio of 16-18%.
Despite a recent 25 basis-point rate increase, PPL’s second-quarter 2026 Times Interest Earned ratio of 2.8 indicates sufficient financial flexibility to meet its interest obligations. Thus, continued debt-market access, regulatory recovery and disciplined capital deployment can support rate-base and earnings growth.
Disciplined Debt Management Supports Utility InvestmentsDisciplined debt management can help utilities fund infrastructure expansion while maintaining financial stability. A balanced capital structure and effective debt maturities can support investment needs while reducing pressure on financial resources.
DTE Energy (DTE - Free Report) targets a balanced fixed-and-variable debt portfolio and investment-grade credit metrics, while expecting sufficient resources to support about $6.8 billion of utility capital investments in 2026 and growth.
Eversource Energy (ES - Free Report) used $1.7 billion of Aquarion sale proceeds to displace parent debt, strengthening credit metrics while supporting its $26.5 billion capital investment plan through 2030 across regulated utilities.
The Zacks Rundown on PPLPPL’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 and 2027 EPS indicates a year-over-year increase of 7.73% and 8.35%, respectively.
Image Source: Zacks Investment Research
Debt to CapitalPPL's debt-to-capital currently stands at 57.46%, lower than the electric power industry’s 62.33%.
Image Source: Zacks Investment Research
PPL’s Stock Price PerformanceIn the past three months, the company’s shares have plunged 11.8% compared with the industry’s 11.4% decline.
Image Source: Zacks Investment Research
PPL’s Zacks RankPPL currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Nykredit A S purchased a new stake in shares of Pembina Pipeline Corp. (NYSE:PBA – Free Report) (TSE:PPL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 238,133 shares of the pipeline company’s stock, valued at approximately $11,014,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Western Wealth Management LLC acquired a new stake in shares of Pembina Pipeline during the first quarter worth approximately $25,000. Dunhill Financial LLC acquired a new position in shares of Pembina Pipeline in the 2nd quarter worth approximately $31,000. N.E.W. Advisory Services LLC bought a new stake in Pembina Pipeline during the 2nd quarter worth approximately $31,000. Tobam bought a new stake in Pembina Pipeline during the 4th quarter worth approximately $28,000. Finally, Markowski Investments acquired a new stake in Pembina Pipeline during the 2nd quarter valued at $54,000. 55.37% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets Several equities analysts have issued reports on the company. Wall Street Zen upgraded Pembina Pipeline from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings cut Pembina Pipeline from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Pembina Pipeline in a research note on Friday, July 3rd. Scotiabank cut Pembina Pipeline from a “sector outperform” rating to a “sector perform” rating in a report on Monday, July 20th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Pembina Pipeline in a report on Friday, July 31st. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Pembina Pipeline presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.
Read Our Latest Research Report on PBA Pembina Pipeline Stock Performance PBA stock opened at $47.50 on Monday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.62 and a quick ratio of 0.50. The company has a 50 day moving average price of $48.98 and a 200 day moving average price of $47.07. Pembina Pipeline Corp. has a fifty-two week low of $36.20 and a fifty-two week high of $51.58. The stock has a market capitalization of $27.62 billion, a PE ratio of 23.28 and a beta of 0.58.
Pembina Pipeline (NYSE:PBA – Get Free Report) (TSE:PPL) last released its earnings results on Thursday, July 30th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Pembina Pipeline had a net margin of 22.41% and a return on equity of 11.41%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. Analysts forecast that Pembina Pipeline Corp. will post 2.23 EPS for the current year.
Pembina Pipeline Announces Dividend The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.735 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.94 annualized dividend and a yield of 6.2%. Pembina Pipeline’s dividend payout ratio (DPR) is presently 103.92%.
Pembina Pipeline Company Profile (Free Report)
Pembina Pipeline Corporation is a Canadian energy transportation and midstream services company headquartered in Calgary, Alberta. Founded in 1954, the company develops and operates infrastructure that transports and processes hydrocarbons produced primarily in Western Canada.
Pembina’s operations include conventional and oil sands pipelines, natural gas gathering and processing facilities, fractionation and storage assets, and terminals for hydrocarbon liquids. Its infrastructure supports the movement of crude oil, condensate, natural gas, propane, butane and other natural gas liquids from producing regions to domestic and international markets.
The company also provides marketing, logistics and related midstream services and is pursuing opportunities tied to liquefied natural gas and other energy exports.
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Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
Let's take a look at what these Wall Street heavyweights have to say about PPL (PPL - Free Report) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.
PPL currently has an average brokerage recommendation (ABR) of 1.53, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 16 brokerage firms. An ABR of 1.53 approximates between Strong Buy and Buy.
Of the 16 recommendations that derive the current ABR, 11 are Strong Buy and one is Buy. Strong Buy and Buy respectively account for 68.8% and 6.3% of all recommendations.
Brokerage Recommendation Trends for PPL
Check price target & stock forecast for PPL here>>>
While the ABR calls for buying PPL, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendations in guiding investors to pick stocks with the best price increase potential.
Do you wonder why? As a result of the vested interest of brokerage firms in a stock they cover, their analysts tend to rate it with a strong positive bias. According to our research, brokerage firms assign five "Strong Buy" recommendations for every "Strong Sell" recommendation.
In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.
Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock's price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision.
Zacks Rank Should Not Be Confused With ABRAlthough both Zacks Rank and ABR are displayed in a range of 1--5, they are different measures altogether.
The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers' vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them.
In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.
Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.
There is also a key difference between the ABR and Zacks Rank when it comes to freshness. When you look at the ABR, it may not be up-to-date. Nonetheless, since brokerage analysts constantly revise their earnings estimates to reflect changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in predicting future stock prices.
Is PPL Worth Investing In?Looking at the earnings estimate revisions for PPL, the Zacks Consensus Estimate for the current year has remained unchanged over the past month at $1.94.
Analysts' steady views regarding the company's earnings prospects, as indicated by an unchanged consensus estimate, could be a legitimate reason for the stock to perform in line with the broader market in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for PPL. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
It may therefore be prudent to be a little cautious with the Buy-equivalent ABR for PPL.
Piramal Pharma Solutions Advances Sustainability Efforts with Solar Power Plant Addition at Morpeth, UK SitePR Newswire
MUMBAI, India, Sept. 16, 2026
Piramal Pharma Solutions is installing a ground-mounted solar power plant (4.3 MWp) at its integrated drug substance and drug product site in Morpeth, UK. The new plant will provide renewable energy directly to the site through a behind-the-meter setup, supporting Piramal's commitment to reduce Scope 1 and Scope 2 greenhouse gas emissions by 42% by FY2030., /PRNewswire/ -- Piramal Pharma Solutions ("PPS"), a leading global Contract Development and Manufacturing Organization (CDMO) and part of Piramal Pharma Ltd. ("PPL") (NSE: PPLPHARMA) (BSE: 543635), is strengthening its decarbonization efforts with the addition of a 4.3 MWp ground-mounted solar power plant at its integrated drug substance and drug product facility in Morpeth, UK. Once operational, the plant will supply the site with approximately 3,950 MWh of renewable electricity each year, meeting around 22% of its annual electricity demand. Featuring around 6,200 solar panels across 16 acres of land, the installation will produce enough clean energy to power approximately 1,460 UK homes per year. The project is being delivered under a Power Purchase Agreement (PPA) with Alight UK BTM1 Limited ("Alight"), a leading solar developer and independent power producer.
This initiative will enable Morpeth to avoid an estimated 20,000 tCO₂e over 25 years, marking a significant step forward in PPL's sustainability journey and long-term decarbonization strategy. By implementing a sustainable, cost-effective solution for onsite electricity generation, PPL is enhancing the resilience of its energy supply while demonstrating its commitment to a lower-carbon future.
"At Piramal Pharma Solutions, we integrate sustainability principles into every operation and decision across our global network," said Frank Bugg, Senior Vice President, UK & Europe Operations and Managing Director, Piramal Pharma Solutions. "We are excited to advance our commitment to decarbonization and renewable energy with our partner Alight, bringing new value to our customers and shareholders worldwide."
"Businesses across the UK are looking for practical ways to lower emissions, strengthen energy resilience, and manage long-term energy costs. This project with Piramal Pharma shows how onsite solar can deliver all three," says Rob Stait, Managing Director, Behind the Meter at Alight.
Project operations are scheduled to begin in the first quarter of 2027.
About Piramal Pharma Solutions
Piramal Pharma Solutions (PPS) is a Contract Development and Manufacturing Organization (CDMO) offering end-to-end development and manufacturing solutions across the drug life cycle. We serve our customers through a globally integrated network of facilities in North America, Europe, and Asia. This enables us to offer a comprehensive range of services including drug discovery solutions, process and pharmaceutical development services, clinical trial supplies, commercial supply of APIs, and finished dosage forms. We also offer specialized services such as the development and manufacture of highly potent APIs, antibody-drug conjugations, sterile fill/finish, peptide products and services, and potent solid oral drug products. PPS also offers development and manufacturing services for biologics including vaccines and gene therapies, made possible through Piramal Pharma Limited's subsidiary, Yapan Bio Private Limited.
For more information visit: Piramal Pharma Solutions | LinkedIn| Facebook | X
About Piramal Pharma Limited
Piramal Pharma Limited (PPL) (NSE: PPLPHARMA) (BSE: 543635), offers a portfolio of differentiated products and services through its 17 global development and manufacturing facilities and a global distribution network in over 100 countries. PPL includes Piramal Pharma Solutions (PPS), an integrated contract development and manufacturing organization; Piramal Critical Care (PCC), a complex hospital generics business; and the Piramal Consumer Healthcare business, selling over-the-counter consumer and wellness products. In addition, one of PPL's associate companies, Abbvie Therapeutics India Private Limited, a joint venture between Abbvie and PPL, has emerged as one of the market leaders in the ophthalmology therapy area in the Indian pharma market.
For more information, visit: Piramal Pharma | LinkedIn
View original content to download multimedia:https://www.prnewswire.com/news-releases/piramal-pharma-solutions-advances-sustainability-efforts-with-solar-power-plant-addition-at-morpeth-uk-site-302880747.html
PPL (PPL - Free Report) closed at $33.24 in the latest trading session, marking a -1.64% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.45% for the day. Elsewhere, the Dow saw a downswing of 0.63%, while the tech-heavy Nasdaq depreciated by 0.78%.
The energy and utility holding company's shares have seen a decrease of 6.01% over the last month, not keeping up with the Utilities sector's loss of 4.83% and the S&P 500's loss of 1.99%.
The upcoming earnings release of PPL will be of great interest to investors. The company's upcoming EPS is projected at $0.52, signifying a 8.33% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $2.44 billion, up 9.03% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.94 per share and revenue of $9.77 billion. These totals would mark changes of +7.18% and +8%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for PPL. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. PPL is currently a Zacks Rank #3 (Hold).
Looking at valuation, PPL is presently trading at a Forward P/E ratio of 17.38. This denotes a premium relative to the industry average Forward P/E of 17.02.
We can additionally observe that PPL currently boasts a PEG ratio of 3.3. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Utility - Electric Power industry currently had an average PEG ratio of 2.54 as of yesterday's close.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
, /PRNewswire/ -- PPL Electric Utilities today filed a proposal with the Pennsylvania Public Utility Commission that would make transmission costs more transparent for customers and create a new way to directly assign certain transmission-related costs associated with large energy users to those customers.
Infographic detailing PPL Electric Utilities’ CPTR framework. The proposal would establish a Customer Protection Transmission Rider (CPTR) and replace the current Transmission Service Charge (TSC). It builds on the company's existing Customer Protection Framework, which already requires large-load customers served under the LP-6 rate class to make significant financial and usage commitments before connecting to the system.
Pennsylvania is experiencing increasing interest from data centers and other large energy users that can require substantial electric infrastructure investments. PPL Electric's Customer Protection Framework is designed to help ensure growth occurs responsibly while supporting affordability, reliability and transparency for existing customers. The proposed CPTR would add another layer of protection by creating a mechanism to directly allocate certain transmission network upgrade costs associated with serving large-load customers to those customers while giving all customers a clearer view of transmission costs on their bills.
"We want to ensure that all of our customers benefit from economic growth and that includes how investments in the electric grid are supported. As Pennsylvania grows, our responsibility is to make sure existing customers are protected," said Christine Martin, president of PPL Electric Utilities. "This proposal would make transmission costs easier to see on customer bills and provide a way to assign certain transmission costs associated with serving large energy users directly to those customers. It's a practical step that supports responsible growth while helping protect residential and small business customers."
Customer benefits of the proposal
Today, transmission costs are embedded within supply charges on the bill and recovered through existing cost-recovery mechanisms by customers' energy suppliers or by PPL Electric for default service customers. While these costs are recovered through established regulatory frameworks, this approach makes it difficult for customers to see these costs on their bills and limits the ability for the company to directly assign certain transmission network costs associated with large-load growth to a specific customer class.
The proposed CPTR would address both challenges by making transmission costs visible to customers through a dedicated line item and creating a mechanism for the company to directly allocate certain transmission network upgrade costs associated with LP-6 large-load customers to that customer class. This added protection helps ensure customers driving the need for new transmission investments contribute directly to those shared costs while increasing transparency and accountability for all customers.
The proposal would not add a new charge. It would replace the existing Transmission Service Charge with a more transparent method of recovering transmission costs while positioning all customers to benefit from the expected reduction in transmission costs as large-load customers begin contributing a larger share of transmission network costs.
If approved, the CPTR is expected to take effect in the first quarter of 2028, further expanding PPL Electric's Customer Protection Framework.
For more information visit: pplelectric.com/CustomerProtections.
About PPL Electric Utilities
PPL Electric Utilities delivers safe, reliable and affordable electricity to about 1.5 million homes and businesses in eastern and central Pennsylvania. It regularly ranks among the country's best utility companies for reliability and customer satisfaction. PPL Electric Utilities is a major employer and an active supporter of the communities it serves. It is a part of the PPL Corporation (NYSE: PPL) family of companies. Visit pplelectric.com or connect on social media via Facebook, X and Instagram for energy efficiency tips, bill help information, guidance on shopping for an electricity supplier, storm updates and more.
Note to Editors: Visit our media website at https://news.pplweb.com/ for additional news and background about PPL Corporation.
Contact:
For news media: PPL Electric Utilities Media Line, 610-774-5997
Key Takeaways PPL's shares fell 5.2% in a month, underperforming the electric power industry's 4.8% decline.PPL benefits from rising data center demand and plans $23 billion in regulated investment through 2029.PPL trades at a premium and has below-industry ROE, suggesting investors may wait for a better entry point. PPL Corporation’s (PPL - Free Report) shares have lost 5.2% in the past month, wider than the Zacks Utility-Electric Power industry’s decrease of 4.8%. The company also underperformed the Zacks Utilities sector’s decline of 3.7% in the same time frame.
PPL is subject to intensifying competition in the transmission business, rising operating expenses and execution risks associated with its substantial infrastructure capital expenditure plan, which could continue to weigh on operations.
However, the company is benefiting from rising data center demand in Pennsylvania and Kentucky, where the rapid expansion of energy-intensive facilities is boosting electricity consumption.
Price Performance (One Month)
Image Source: Zacks Investment Research
Another operator in the same space, FirstEnergy Corp. (FE - Free Report) , is making a substantial investment to strengthen the infrastructure to provide reliable services to its expanding customer base. In the past month, FE’s share have declined 2.7%.
Should investors consider adding PPL to their portfolios amid the recent weakness in its share price? Let us take a closer look at the key factors that could help determine whether the current price level offers an attractive entry point for PPL stock.
Headwinds for PPL StockPPL Corporation faces several challenges, including substantial capital investment requirements, project execution risks and uncertainties related to timely cost recovery. The company also encounters increasing competition in Pennsylvania’s transmission market.
PPL’s operations remain vulnerable to weather-driven fluctuations in electricity demand, cybersecurity threats, equipment malfunctions and fuel supply interruptions, any of which could adversely affect earnings and profitability.
Key Drivers That Could Support PPL’s PerformancePPL continues to benefit from rising large-load demand, supporting future electricity consumption and infrastructure needs. In Pennsylvania, advanced-stage data center demand increased 12% sequentially to 31.8 GW in second-quarter 2026. Kentucky’s development pipeline reached 13.7 GW through 2032, including 11.6 GW from data centers, while signed reimbursement agreements rose to 1.3 GW from 0.9 GW.
PPL plans to invest $23 billion in regulated infrastructure during 2026-2029, including $5.1 billion in 2026, to enhance reliability, modernize its systems and support emission reductions. The program is expected to drive 10.3% average annual rate base growth through 2029, excluding potential contributions from Invitium Energy.
More than 60% of PPL’s capital investment plan is eligible for contemporaneous recovery, helping reduce the impact of regulatory lag on earnings. Faster recovery of capital spending also supports efficient funding of the company’s long-term infrastructure projects.
PPL is expanding its clean-energy initiatives to enhance grid reliability and meet rising electricity demand. Investments in wind, energy storage and cleaner generation should help diversify its energy mix and improve operational flexibility. The utilities are also working with X-energy to evaluate the deployment of Xe-100 small modular reactors in Kentucky, supporting long-term demand with reliable, clean power.
PPL continues to emphasize disciplined cost management to deliver value to customers and shareholders. The company achieved $170 million in annual run-rate O&M savings in 2025 and targets $175 million of O&M reductions in 2026 compared with 2021 levels. These efficiencies should support competitive utility rates, improve affordability and strengthen PPL’s ability to serve and retain customers.
PPL Stock’s Earnings Estimate Moving NorthThe Zacks Consensus Estimate for PPL’s 2026 and 2027 earnings per share indicates year-over-year growth of 7.18% and 8.32%, respectively.
Image Source: Zacks Investment Research
Another utility, Exelon Corporation (EXC - Free Report) , has strong transmission and distribution operations and is investing strategically to further expand its infrastructure. The Zacks Consensus Estimate for EXC’s 2026 and 2027 earnings per share indicates year-over-year growth of 3.25% and 6.57%, respectively.
PPL Stock Trades at a PremiumPPL Corporation is currently valued at a premium compared with its industry on a forward 12-month P/E basis. The stock is trading at a P/E F12M of 16.56X compared with its industry’s 14.7X.
Image Source: Zacks Investment Research
Other utility, Exelon, is currently trading at a discount with a P/E F 12M of 14.4X compared with its industry. FirstEnergy is trading at a P/E F12M of 15.98X, a premium to the industry it belongs to.
PPL’s Return Is Lower Than the IndustryReturn on equity (“ROE”) is a financial ratio that measures how well a company uses its shareholders’ equity to generate profits. The current ROE of the company indicates that it is using shareholders’ funds more efficiently than peers.
PPL’s trailing 12-month ROE is 9.33%, lower than the industry average of 11.4%.
Image Source: Zacks Investment Research
PPL’s Long-Term Debt to CapitalUtility operations are capital-intensive and companies in this sector often need to borrow to fund long-term projects when internal resources are insufficient. The company is also borrowing funds to meet its capital requirements.
PPL’s current long-term debt-to-capital is 57.46% compared with its industry average of 61.32%. This shows the company is utilizing less debt than peers to run its operations.
Image Source: Zacks Investment Research
Rounding UpPPL Corporation is enhancing grid reliability and resilience through infrastructure upgrades, IT modernization and a $23 billion capital investment plan that supports a 10.3% rate base CAGR. The company also benefits from growing data center-driven electricity demand and timely cost recovery mechanisms that help fund its long-term growth initiatives efficiently.
However, PPL's ROE is currently lower than its industry peers and trades at a premium, so investors may be better served waiting for a more attractive entry point before considering the stock. The stock currently has a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Although AI safety warnings continue to spark fierce public debate and market volatility, AI companies' underlying actions paint a vastly different picture.
Although AI safety warnings continue to spark fierce public debate and market volatility, AI companies' underlying actions paint a vastly different picture.
Zacks picks the top stocks to buy now with a recent Strong Buy rating, ranked by Zacks Indicator Score.
Zacks picks the top stocks to buy now with a recent Strong Buy rating, ranked by Zacks Indicator Score.
Stocks related to the rise of Artificial Intelligence (AI) are booming - here are the AI stocks analysts say are currently the best deal.
Stocks related to the rise of Artificial Intelligence (AI) are booming - here are the AI stocks analysts say are currently the best deal.
Markets head into a pivotal week, wondering whether the Federal Reserve is finally ready to pull the trigger on a rate hike to tackle stubborn inflation.
Markets head into a pivotal week, wondering whether the Federal Reserve is finally ready to pull the trigger on a rate hike to tackle stubborn inflation.
By establishing clear regulatory boundaries between federal oversight agencies, enforcing stronger consumer safeguards, and implementing ethics guidelines, the Clarity Act offers a path out of years of regulatory uncertainty.
By establishing clear regulatory boundaries between federal oversight agencies, enforcing stronger consumer safeguards, and implementing ethics guidelines, the Clarity Act offers a path out of years of regulatory uncertainty.
This manufacturer of testing equipment has seen the Zacks Consensus Estimate for its current year earnings increase 30.9% over the last 60 days.
This manufacturer of testing equipment has seen the Zacks Consensus Estimate for its current year earnings increase 30.9% over the last 60 days.
If the Fed does follow through on higher rates, as is widely expected, it might be viewed as welcomed news by the market.
If the Fed does follow through on higher rates, as is widely expected, it might be viewed as welcomed news by the market.
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Featured Zacks Rank Stocks Learn to Profit from the Zacks Rank
#1 Rank A huge bullish driver for NVT is its momentum in data center solutions, prompting it to raise its full-year sales and EPS guidance in its latest release.
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Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers Zacks #1 Rank Top Movers for Value Growth Momentum VGM Income Company Symbol Price %Chg Telos TLS 4.29 +8.61% Pagaya Tech... PGY 21.37 +7.01% Slide Insur... SLDE 26.09 +5.03% Tilly's... TLYS 4.83 +5.00% Centene CNC 69.14 +4.10% Zacks #1 Rank Top Movers7/16 The Zacks #1 Rank List is the best place to start your stock search each morning. It's made up of the top 5% of stocks with the most potential. Each weekday, you can quickly see the Zacks #1 Rank Top Movers from Value to Growth, Momentum and Income, even VGM Score.
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Symbol Time Expected Reported %Surprise HAIN 06:50 -0.03 -0.05 -66.67 RFIL 08:00 0.20 0.19 -5.00 EPS Negative Surprises for Sep 14, 2026
Upcoming Earnings ESP View More Symbol ESP Most Accurate Estimate Consensus Estimate DRI 0.12% 2.06 2.06 THO 5.94% 1.01 0.95 CTAS 3.60% 1.40 1.35 DLMAF 3.58% 0.94 0.91 Featured Stock Picks
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Key Takeaways PPL is advancing wind, storage and cleaner generation projects to support grid reliability and demand. PPL's $23 billion capital plan through 2029 supports 10.3% annual rate-base growth and 6-8% EPS growth. PPL is exploring pumped-storage hydro and small modular reactors to strengthen Kentucky's energy system. PPL Corporation (PPL - Free Report) is advancing clean-energy initiatives that can strengthen grid reliability and support rising electricity demand. Its growing focus on wind, energy storage and cleaner generation could diversify its energy mix, improve operational flexibility and efficiency.
Recently, PPL’s unit, Rhode Island Energy, conditionally selected 150 megawatts (MW) of renewable energy from Clearway Energy Group’s proposed 800-MW onshore wind project in Aroostook County, Maine. The energy would be procured through a long-term power purchase agreement, subject to contract negotiations and regulatory approval. This would give PPL exposure to additional renewable supply while supporting regional clean-energy goals.
The company is expanding and modernizing its Kentucky generation fleet through natural gas, renewables and other clean-energy technologies. In Kentucky, PPL units Louisville Gas and Electric Company (LG&E) and Kentucky Utilities (KU) are evaluating the 266-MW Lewis Ridge pumped-storage hydro project, which could provide eight hours of energy storage and strengthen grid flexibility. Construction could begin as early as 2027, with commercial operation targeted for 2031.
The utilities are also collaborating with X-energy to explore deploying Xe-100 small modular reactors in Kentucky to meet growing electricity demand with long term, reliable and clean energy
These initiatives complement PPL’s broader $23 billion capital investment program through 2029, supporting an expected 10.3% average annual rate-base growth and 6-8% annual earnings per share growth through 2029.
Overall, these renewable and clean-energy initiatives could strengthen PPL’s long-term growth by supporting infrastructure expansion, enhancing system resilience and creating opportunities to increase its regulated asset base.
Clean-Energy Investments Support Utility GrowthClean-energy investments support utility growth by expanding renewable generation, modernizing grids and improving system resilience. Continued spending on cleaner power and infrastructure can strengthen capacity, reliability and long-term earnings prospects.
NextEra Energy (NEE - Free Report) benefits from expanding clean-energy demand, as Energy Resources added 3.6 gigawatts (GW) of renewables and storage projects, lifting its backlog to approximately 35.1 GW.
AES Corporation (AES - Free Report) benefits from clean-energy expansion, with 19,724 gross megawatts of renewable capacity operating across solar, wind, hydro and storage, strengthening its diversified generation portfolio globally.
The Zacks Rundown on PPLPPL’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 and 2027 EPS indicates a year-over-year increase of 7.18% and 8.32%, respectively.
Image Source: Zacks Investment Research
Debt to CapitalPPL's debt-to-capital currently stands at 57.46%, lower than the electric power industry’s 61.32%.
Image Source: Zacks Investment Research
PPL’s Stock Price PerformanceIn the past month, the company’s shares have risen 0.2% against the industry’s 0.5% decline.
The North American midstream sector is entering a period of accelerated growth. Surging liquefied natural gas (LNG) exports and rapidly expanding power generation demand are driving record multi-billion-dollar project backlogs.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?
Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about PPL (PPL - Free Report) .
PPL currently has an average brokerage recommendation (ABR) of 1.43, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 15 brokerage firms. An ABR of 1.43 approximates between Strong Buy and Buy.
Of the 15 recommendations that derive the current ABR, 11 are Strong Buy and one is Buy. Strong Buy and Buy respectively account for 73.3% and 6.7% of all recommendations.
Brokerage Recommendation Trends for PPL
Check price target & stock forecast for PPL here>>>
While the ABR calls for buying PPL, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendations in guiding investors to pick stocks with the best price increase potential.
Do you wonder why? As a result of the vested interest of brokerage firms in a stock they cover, their analysts tend to rate it with a strong positive bias. According to our research, brokerage firms assign five "Strong Buy" recommendations for every "Strong Sell" recommendation.
This means that the interests of these institutions are not always aligned with those of retail investors, giving little insight into the direction of a stock's future price movement. It would therefore be best to use this information to validate your own analysis or a tool that has proven to be highly effective at predicting stock price movements.
Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock's price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision.
Zacks Rank Should Not Be Confused With ABRIn spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.
Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers' vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them.
On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.
There is also a key difference between the ABR and Zacks Rank when it comes to freshness. When you look at the ABR, it may not be up-to-date. Nonetheless, since brokerage analysts constantly revise their earnings estimates to reflect changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in predicting future stock prices.
Should You Invest in PPL?Looking at the earnings estimate revisions for PPL, the Zacks Consensus Estimate for the current year has remained unchanged over the past month at $1.94.
Analysts' steady views regarding the company's earnings prospects, as indicated by an unchanged consensus estimate, could be a legitimate reason for the stock to perform in line with the broader market in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for PPL. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
It may therefore be prudent to be a little cautious with the Buy-equivalent ABR for PPL.
Beacon Pointe Advisors LLC acquired a new position in PPL Corporation (NYSE:PPL – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,422 shares of the utilities provider’s stock, valued at approximately $561,000.
Other large investors have also recently modified their holdings of the company. Legal & General Group Plc purchased a new stake in PPL during the 2nd quarter worth approximately $187,326,000. Cullen Capital Management LLC purchased a new position in shares of PPL in the second quarter valued at approximately $54,611,000. Hsbc Holdings PLC acquired a new stake in shares of PPL in the second quarter worth approximately $48,651,000. Man Group plc purchased a new stake in shares of PPL during the second quarter worth approximately $36,935,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of PPL during the second quarter worth approximately $33,729,000. Institutional investors own 76.99% of the company’s stock.
Insider Activity at PPL In other news, Director Kristen Robinson sold 37,107 shares of the company’s stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $25.05, for a total transaction of $929,530.35. Following the sale, the director owned 222,897 shares of the company’s stock, valued at approximately $5,583,569.85. This represents a 14.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ashley F. Johnson sold 34,993 shares of the company’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $22.08, for a total value of $772,645.44. Following the sale, the chief financial officer owned 561,482 shares in the company, valued at approximately $12,397,522.56. This trade represents a 5.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.34% of the company’s stock.
Analysts Set New Price Targets PPL has been the topic of a number of research reports. Mizuho upgraded PPL to a “hold” rating in a report on Friday, July 3rd. Weiss Ratings cut shares of PPL from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. Bank of America decreased their price target on shares of PPL from $42.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. Jefferies Financial Group lowered their price target on shares of PPL from $48.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, August 25th. Finally, Morgan Stanley dropped their price objective on shares of PPL from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Friday, August 21st. Ten equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $41.00. Read Our Latest Report on PPL
PPL Stock Down 0.0% Shares of PPL opened at $34.19 on Tuesday. The firm has a market cap of $25.73 billion, a P/E ratio of 20.23, a price-to-earnings-growth ratio of 2.34 and a beta of 0.57. PPL Corporation has a 12-month low of $33.17 and a 12-month high of $40.10. The company’s 50-day moving average price is $35.71 and its 200 day moving average price is $36.71. The company has a current ratio of 0.91, a quick ratio of 0.73 and a debt-to-equity ratio of 1.32.
PPL (NYSE:PPL – Get Free Report) last posted its earnings results on Friday, August 7th. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.19 billion. PPL had a net margin of 13.47% and a return on equity of 9.33%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. PPL has set its FY 2026 guidance at 1.900-1.980 EPS. On average, sell-side analysts forecast that PPL Corporation will post 1.94 earnings per share for the current year.
PPL Dividend Announcement The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.14 annualized dividend and a dividend yield of 3.3%. PPL’s dividend payout ratio (DPR) is presently 67.46%.
About PPL (Free Report)
PPL Corporation is an energy company that owns and operates electric transmission and distribution infrastructure and provides related customer services. The company’s core business centers on delivering electricity to residential, commercial and industrial customers through regulated utility operations, maintaining grid reliability, responding to outages and managing customer billing and account services.
PPL’s activities include construction and maintenance of distribution and transmission lines, meter and grid management, and programs to support energy efficiency and the interconnection of distributed resources.
See Also Five stocks we like better than PPL Securing AI: 5 Most-Upgraded Stocks From the Q2 Reporting Season Insiders Are Betting Big on These 3 Healthcare Stocks 3 Stocks for Investors Who Still Believe Cash Is King Dollar General and Dollar Tree Are Recovering, But Not for the Same Reason Want to see what other hedge funds are holding PPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPL Corporation (NYSE:PPL – Free Report).
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Key Takeaways FirstEnergy appears stronger, supported by higher ROE, cheaper valuation and better share performance.FE plans $36B in investments through 2030, exceeding PPL's nearly $23B planned for 2026-2029.FirstEnergy's 7.64% long-term EPS growth estimate slightly tops PPL's 7.52%, despite higher debt. The companies belonging to the Zacks Utility - Electric Power industry are benefiting from supportive industry trends, including higher electricity rates, accretive acquisitions, cost-control initiatives and investments in energy efficiency. Continued spending on grid modernization and resilience is also helping utilities withstand severe weather events, while the transition toward increasingly competitive renewable energy sources supports long-term growth.
Amid the growing clean energy market and rising electricity demand from data centers, PPL Corporation (PPL - Free Report) and FirstEnergy (FE - Free Report) are emerging as appealing investment opportunities in the utility space.
Rising electricity demand from data centers is prompting utilities to expand generation and grid capacity. At the same time, climate-related policies, federal incentives and the broader energy transition are transforming U.S. electric utilities beyond their traditional business models. These developments are creating additional investment opportunities and positioning well-established utilities for relatively stable, long-term growth while increasing their exposure to the expanding clean energy market.
PPL Corporation operates as a fully regulated utility, benefiting from stable cash flows and predictable revenues that support consistent dividends and financial strength. The company remains focused on modernizing its infrastructure, strengthening grid reliability and advancing clean energy initiatives. Supported by a solid balance sheet and constructive regulatory frameworks, PPL continues to invest in grid upgrades, renewable energy and decarbonization projects, helping drive steady earnings growth and long-term shareholder value.
FirstEnergy’s regulated utility operations, rising data-center demand and $36 billion Energize365 investment program support steady rate-base and earnings growth. Incremental transmission opportunities could provide further upside, while strong liquidity and adequate interest coverage support its capital needs. The company’s decarbonization efforts, dividend growth and attractive yield further strengthen its long-term investment appeal.
Now let's compare the two stocks' fundamentals to find out which one is a better investment pick at present.
PPL & FE’s Earnings EstimatesThe Zacks Consensus Estimate for PPL’s earnings per share in 2026 has gone down 0.51% and the same for 2027 has gone up 0.48% in the past 60 days. The rise of long-term (three to five years) earnings per share is pegged at 7.52%.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for FE’s earnings per share in 2026 and 2027 has remained unchanged in the past 60 days. The growth of long-term (three to five years) earnings per share is pegged at 7.64%.
Image Source: Zacks Investment Research
Net Profit MarginNet profit margin measures how efficiently a company converts revenues into profit after all expenses, offering insight into its overall profitability and financial health.
PPL's net margin is 14.74X compared with FE's 9.4X.
Image Source: Zacks Investment Research
Debt to CapitalThe Zacks Utilities sector is a capital-intensive one and huge investments are required at regular intervals to upgrade, maintain and expand operations. The usage of new evolving technology also requires investments. So, the utilities borrow from the market and add it to their internal cash generation to fund long-term investments.
PPL’s debt-to-capital currently stands at 57.46% compared with FE’s 66.77%.
Image Source: Zacks Investment Research
Return on EquityReturn on Equity (“ROE”) is an essential financial indicator that evaluates a company’s efficiency in generating profits from the equity invested by its shareholders. It demonstrates how well management is utilizing the capital provided to increase earnings and deliver value.
PPL’s current ROE is 9.33% compared with FE’s 10.51%. The industry’s current ROE is 11.4%.
Image Source: Zacks Investment Research
ValuationPPL Corporation currently appears to trade at a premium compared with FirstEnergy on a Price/Earnings Forward 12-month basis. (P/E- F12M).
FE is currently trading at 15.94X, while PPL is trading at 16.67X.
Image Source: Zacks Investment Research
Long-Term Investment PlansCapital investment remains essential for utilities, enabling infrastructure modernization, reliable service and sustainable long-term growth. Rising electricity demand, increasing renewable integration and evolving regulatory standards require utilities to consistently invest in generation capacity and strengthen their transmission and distribution networks.
PPL Corporation plans to invest nearly $23 billion in the 2026-2029 period to strengthen its infrastructure and add more clean electricity generation assets. FE, through its Energize365 program, plans to invest $36 billion from 2026 through 2030.
Price PerformanceIn the past year, FE’s shares have gained 5.2% against PPL’s decline of 6.2%.
Image Source: Zacks Investment Research
Rounding UpPPL and FE are consistently investing in their infrastructure to enhance reliability and support the needs of their growing customer base.
From the analysis above, FirstEnergy appears to hold an edge over PPL Corporation, even with its high debt usage. FE’s higher ROE, larger capital expenditure program, cheaper valuation and stronger share price performance make it a more appealing investment option at this time.
Both companies currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways PPL's Q2 operating income rose 17% to $475M, supporting a 20% increase in EPS.Data center demand totals 31.8 GW in Pennsylvania, with 13.7 GW potential load growth in Kentucky.A $23B investment outlook through 2029 supports 10.3% annual rate-base growth and 6-8% EPS growth. PPL Corporation (PPL - Free Report) benefits from improved operating income, which enhances profitability and strengthens its financial flexibility. This can help the company fund capital investments, meet debt obligations, sustain dividends and manage financing requirements more effectively.
In the second quarter of 2026, operating income increased 17% year over year to $475 million from $406 million, supporting a 20% rise in earnings per share (EPS) and a 3.1% increase in ongoing earnings. The increase in operating income reflects improved profitability and coincided with growth in both reported and ongoing earnings.
The company benefits from rising data-center demand and economic development, which support sustainable earnings growth. PPL’s Pennsylvania segment has 31.8 gigawatts (GW) of potential data-center demand, while Kentucky has 13.7 GW of potential load growth through 2032.
PPL expects improved earnings growth from the Pennsylvania rate-case settlement, which took effect July 1 and provides an approved $275 million annual revenue increase, as well as from the Rhode Island rate case, with new rates expected to take effect soon. The company expects EPS to grow at an annual rate of 6-8% through 2029.
The company is making significant infrastructure investments to improve service reliability and expand its rate base. It plans to invest about $5.1 billion in 2026, with $23 billion expected through 2029, supporting an average annual rate-base growth of 10.3%.
Overall, PPL is well positioned for earnings growth, supported by data center demand, rate recovery and investment-driven revenue gains.
Higher Operating Income Supports Capital InvestmentsHigher operating income can strengthen a utility’s financial capacity, providing greater flexibility to fund capital projects while supporting balance-sheet stability. Sustained earnings growth can help fund grid modernization, generation expansion and reliability upgrades to meet rising demand.
FirstEnergy (FE - Free Report) reported a 4.8% year-over-year increase in operating income in the second quarter of 2026, strengthening its financial capacity to execute the $36 billion Energize365 program and support long-term rate-base growth.
Duke Energy (DUK - Free Report) reported a 12% year-over-year increase in operating income in the second quarter of 2026, strengthening its ability to fund its $103 billion capital program and support grid modernization and generation expansion.
The Zacks Rundown on PPLPPL’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 and 2027 EPS indicates a year-over-year increase of 7.18% and 8.32%, respectively.
Image Source: Zacks Investment Research
Debt to CapitalPPL's debt-to-capital currently stands at 57.46%, lower than the electric power industry’s 61.32%.
Image Source: Zacks Investment Research
PPL’s Stock Price PerformanceIn the past month, the company’s shares have plunged 3.1% compared with the industry’s 4.6% decline.
Image Source: Zacks Investment Research
PPL’s Zacks RankPPL currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways PPL shares fell 11% in six months, underperforming the electric power industry's 8.7% decline.PPL plans $23 billion in infrastructure investment for 2026-2029 as data center demand drives load growth. PPL trades above the industry P/E, while its ROE and net margin remain below industry averages. PPL Corporation’s (PPL - Free Report) shares have declined 11% in the past six months, wider than the Zacks Utility-Electric Power industry’s decline of 8.7%. The company also underperformed the Zacks Utilities sector in the same time frame.
PPL reported a negative earnings surprise in the last reporting quarter due to an increase in operating expenses. PPL faces increasing competition in the transmission market, which could weigh on operational performance, while unexpected disruptions may negatively impact its financial results.
Yet, the company is benefiting from growing data center demand, particularly in Pennsylvania and Kentucky, where these energy-intensive facilities are driving higher electricity consumption.
Price Performance (Six months)
Image Source: Zacks Investment Research
Another operator in the same space, FirstEnergy Corp. (FE - Free Report) , is making a substantial investment to strengthen its infrastructure to provide reliable services to customers. The company’s shares have declined 9.1% in the past six months.
Does PPL’s recent share-price weakness offer investors an attractive entry point? Let us examine the key factors that could determine whether PPL stock is worth adding to a portfolio at current levels.
Factors That Could Strengthen PPL’s Growth OutlookPPL continues to benefit from rising large-load demand, which is expected to support electricity consumption and infrastructure investment over the coming years. In Pennsylvania, advanced-stage data center demand increased 12% sequentially to 31.8 gigawatts (“GW”) in the second quarter of 2026. In Kentucky, the economic development pipeline expanded to 13.7 GW through 2032, including 11.6 GW from data centers, while signed reimbursement agreements climbed to 1.3 GW from 0.9 GW in the first quarter.
PPL plans to invest $23 billion in regulated infrastructure during 2026-2029, including $5.1 billion in 2026. These investments are aimed at strengthening system reliability, modernizing infrastructure and supporting carbon-emission reduction efforts. The capital plan is expected to drive average annual rate base growth of 10.3% through 2029 and does not include potential contributions from Invitium Energy. The program remains a key pillar of PPL’s regulated growth strategy over the current planning period.
More than 60% of PPL’s capital investment plan qualifies for “contemporaneous recovery,” which mitigates the effects of regulatory lag on earnings. This expedited recovery of capital expenditures enables the company to efficiently fund its long-term projects.
PPL remains focused on disciplined cost management to create value for both customers and shareholders. Management estimates that every $1 of O&M savings can support roughly $8 of capital investment without raising customer bills. The company achieved $170 million in annual run-rate O&M savings in 2025 and is targeting $175 million of O&M reductions in 2026 compared with 2021 levels. These efficiencies should help PPL maintain competitive utility rates, support affordability and enhance its ability to attract and retain customers.
Headwinds for PPL StockPPL continues to encounter competition in Pennsylvania's transmission market. Moreover, adverse weather conditions, cybersecurity incidents, equipment outages and fuel supply interruptions could disrupt operations and pressure the company's earnings and profitability.
PPL Stock’s Earnings Estimate Moving UpPPL expects 2026 earnings to be in the range of $1.90-$1.98 per share. The Zacks Consensus Estimate for PPL’s 2026 and 2027 earnings per share indicates year-over-year growth of 7.18% and 8.32%, respectively.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for FE’s 2026 and 2027 earnings per share indicates year-over-year growth of 7.45% and 7.74%, respectively.
PPL’s Long-term Debt to CapitalUtility operations are capital-intensive, and companies in this sector often need to borrow to fund long-term projects when internal resources are insufficient. The company is also borrowing funds to meet its capital requirements.
PPL’s current long-term debt to capital is 56.81% compared with its industry average of 54.37%. This shows the company is utilizing more long-term debt than peers to run its operations.
Image Source: Zacks Investment Research
Another utility, Exelon Corporation (EXC - Free Report) , is making substantial investments to strengthen its transmission and distribution lines to provide reliable services to its customers. Currently, debt to capital of Exelon is pegged at 63.06%, which is higher than its industry peers.
PPL Stock Trades at a PremiumPPL Corporation is currently valued at a premium compared with its industry on a forward 12-month P/E basis. The stock is trading at a P/E F12M of 16.8X compared with its industry’s 15.29X.
Image Source: Zacks Investment Research
Exelon is currently trading at a P/E F12M of 14.71X, a discount compared with its industry at a P/E F12M of 15.29X.
PPL’s Return Is Lower Than the IndustryReturn on equity (“ROE”) is a financial ratio that measures how well a company uses its shareholders’ equity to generate profits. The current ROE of the company indicates that it is using shareholders’ funds more efficiently than peers.
PPL’s trailing 12-month ROE is 9.33%, lower than the industry average of 11.4%.
Image Source: Zacks Investment Research
PPL’s Net Margin Lower Than IndustryNet margin measures the percentage of revenues retained as profit after deducting all expenses, taxes and interest. PPL’s net margin is currently pegged at 14.74% compared with the industry’s 15.81%.
Image Source: Zacks Investment Research
Rounding UpPPL Corporation is strengthening its grid through major infrastructure investments, IT modernization and an expanded $23 billion capital expenditure plan, which will assist in improving system reliability and resilience. The company is also benefiting from rising data center-driven load growth and timely rate recovery, which enables it to efficiently fund the long-term projects. PPL currently has Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
However, PPL Corporation is currently trading at a premium valuation, while its returns and net margin remain below the industry averages. Given these concerns, investors may prefer to wait now and look for a more attractive entry point.
Key Takeaways PPL's Q2 2026 revenues rose 4.2% to $2.11B, while operating income climbed 17% to $475M.Stronger rate recovery and transmission revenue helped offset higher depreciation and other expenses.PPL plans $23B in capital investment through 2029 and targets annual EPS growth of 6-8%. PPL Corporation’s (PPL - Free Report) expanding revenues are helping the company offset higher costs and strengthen its operating performance. This revenue growth can help strengthen margins and support PPL’s overall financial performance.
In the second quarter of 2026, PPL’s operating revenues increased 4.2% year over year to $2.11 billion from $2.03 billion. The improvement was supported by stronger rate recovery and transmission revenues. Rate recovery provided a 5-cent benefit, while transmission revenues added 1 cent, helping offset operating costs, depreciation and interest expenses.
PPL’s operating income increased 17% year over year to $475 million in the second quarter, up from $406 million. This indicates that revenue growth translated into higher operating income despite increased depreciation and other expenses.
Revenue growth is also important for PPL’s long-term prospects as the company invests heavily in its regulated operations. The company plans nearly $5.1 billion of capital investments in 2026 and $23 billion through 2029, supporting average annual rate-base growth of 10.3%. PPL expects improved rate recovery and capital-tracking mechanisms to support stronger earnings growth in the second half of 2026. The company also projects 2026 ongoing earnings per share (EPS) of $1.90-$1.98 and annual EPS growth of 6-8% through 2029.
Overall, rising revenues, combined with regulatory recovery and capital investment, provide PPL with a supportive foundation for sustainable earnings growth.
Rising Utility Revenues Ease Cost PressuresRising utility revenues can help absorb higher operating, maintenance and financing costs, supporting earnings stability. Stronger revenues also preserve financial flexibility for infrastructure upgrades and other essential capital investments.
FirstEnergy (FE - Free Report) : Revenues increased 8.8% to $3.68 billion from $3.38 billion, outpacing growth in operating costs and lifting operating income about 4.8% to $677 million.
Evergy (EVRG - Free Report) : In the second quarter of 2026, revenues increased 4.4% to $1.50 billion, while operating income rose 10.7% to $380.6 million, helping absorb higher operations and maintenance and depreciation.
The Zacks Rundown on PPLPPL’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 and 2027 EPS indicates a year-over-year increase of 7.18% and 8.32%, respectively.
Image Source: Zacks Investment Research
Debt to CapitalPPL's debt-to-capital ratio currently stands at 57.46%, lower than the electric power industry’s 61.32%.
Image Source: Zacks Investment Research
PPL’s Stock Price PerformanceIn the past month, the company’s shares have plunged 3.9% compared with the industry’s 7.1% decline.
Danske Bank A S bought a new position in shares of PPL Corporation (NYSE:PPL – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,395 shares of the utilities provider’s stock, valued at approximately $850,000.
Several other institutional investors have also recently made changes to their positions in the business. Allied Private Wealth LLC purchased a new stake in PPL in the second quarter valued at $42,000. Covestor Ltd grew its position in PPL by 206.7% during the 2nd quarter. Covestor Ltd now owns 1,291 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 870 shares during the period. Root Financial Partners LLC raised its stake in shares of PPL by 72.5% during the 1st quarter. Root Financial Partners LLC now owns 2,587 shares of the utilities provider’s stock valued at $99,000 after buying an additional 1,087 shares during the last quarter. Rossby Financial LCC raised its stake in shares of PPL by 70.0% during the 4th quarter. Rossby Financial LCC now owns 3,012 shares of the utilities provider’s stock valued at $105,000 after buying an additional 1,240 shares during the last quarter. Finally, Elyxium Wealth LLC acquired a new position in shares of PPL in the 4th quarter valued at about $119,000. Hedge funds and other institutional investors own 76.99% of the company’s stock.
Insider Buying and Selling In other PPL news, CFO Ashley F. Johnson sold 34,993 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $22.08, for a total value of $772,645.44. Following the sale, the chief financial officer directly owned 561,482 shares of the company’s stock, valued at approximately $12,397,522.56. This trade represents a 5.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kristen Robinson sold 37,107 shares of the firm’s stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $25.05, for a total value of $929,530.35. Following the completion of the sale, the director directly owned 222,897 shares in the company, valued at approximately $5,583,569.85. The trade was a 14.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.34% of the company’s stock.
Analysts Set New Price Targets PPL has been the topic of a number of recent research reports. Barclays upped their target price on PPL from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. BMO Capital Markets reduced their price target on PPL from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Monday, August 10th. Bank of America decreased their price target on PPL from $42.00 to $39.00 and set a “buy” rating for the company in a report on Monday, July 20th. JPMorgan Chase & Co. upped their price objective on PPL from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, BTIG Research reaffirmed a “buy” rating on shares of PPL in a research note on Thursday, June 4th. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.33. Get Our Latest Analysis on PPL
PPL Trading Down 2.2% Shares of PPL stock opened at $34.42 on Friday. The firm has a 50-day simple moving average of $35.83 and a two-hundred day simple moving average of $36.75. The company has a market cap of $25.90 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 2.35 and a beta of 0.57. PPL Corporation has a fifty-two week low of $33.17 and a fifty-two week high of $40.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.73 and a current ratio of 0.91.
PPL (NYSE:PPL – Get Free Report) last posted its earnings results on Friday, August 7th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). PPL had a return on equity of 9.33% and a net margin of 13.47%.The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the company earned $0.32 earnings per share. The company’s revenue was up 4.2% compared to the same quarter last year. PPL has set its FY 2026 guidance at 1.900-1.980 EPS. As a group, equities analysts predict that PPL Corporation will post 1.94 earnings per share for the current fiscal year.
PPL Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be given a dividend of $0.285 per share. The ex-dividend date is Thursday, September 10th. This represents a $1.14 dividend on an annualized basis and a yield of 3.3%. PPL’s dividend payout ratio is currently 67.46%.
PPL Profile (Free Report)
PPL Corporation is an energy company that owns and operates electric transmission and distribution infrastructure and provides related customer services. The company’s core business centers on delivering electricity to residential, commercial and industrial customers through regulated utility operations, maintaining grid reliability, responding to outages and managing customer billing and account services.
PPL’s activities include construction and maintenance of distribution and transmission lines, meter and grid management, and programs to support energy efficiency and the interconnection of distributed resources.
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EP Wealth Advisors LLC acquired a new position in PPL Corporation (NYSE:PPL – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 52,080 shares of the utilities provider’s stock, valued at approximately $1,893,000.
A number of other institutional investors have also recently bought and sold shares of PPL. Deutsche Bank AG increased its position in shares of PPL by 23.7% during the 2nd quarter. Deutsche Bank AG now owns 2,056,733 shares of the utilities provider’s stock valued at $74,762,000 after purchasing an additional 393,748 shares during the last quarter. Kayne Anderson Capital Advisors LP purchased a new position in shares of PPL in the 2nd quarter worth about $10,098,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of PPL by 9.3% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,837,296 shares of the utilities provider’s stock worth $66,786,000 after buying an additional 157,005 shares during the last quarter. Reaves W H & Co. Inc. grew its position in PPL by 2.0% during the fourth quarter. Reaves W H & Co. Inc. now owns 4,424,814 shares of the utilities provider’s stock valued at $154,957,000 after buying an additional 88,531 shares during the period. Finally, Portfolio Design Labs LLC bought a new position in PPL during the second quarter valued at about $2,594,000. Institutional investors own 76.99% of the company’s stock.
Insider Activity at PPL In related news, Director Kristen Robinson sold 37,107 shares of the firm’s stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $25.05, for a total value of $929,530.35. Following the completion of the transaction, the director directly owned 222,897 shares of the company’s stock, valued at approximately $5,583,569.85. This trade represents a 14.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ashley F. Johnson sold 34,993 shares of PPL stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $22.08, for a total transaction of $772,645.44. Following the completion of the transaction, the chief financial officer owned 561,482 shares of the company’s stock, valued at $12,397,522.56. This represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.34% of the company’s stock.
PPL Trading Down 2.2% Shares of PPL opened at $34.42 on Friday. The business has a 50-day moving average of $35.83 and a 200 day moving average of $36.75. PPL Corporation has a fifty-two week low of $33.17 and a fifty-two week high of $40.10. The firm has a market cap of $25.90 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 2.35 and a beta of 0.57. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.73 and a current ratio of 0.91. PPL (NYSE:PPL – Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.19 billion. PPL had a net margin of 13.47% and a return on equity of 9.33%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share. PPL has set its FY 2026 guidance at 1.900-1.980 EPS. As a group, research analysts forecast that PPL Corporation will post 1.94 EPS for the current year.
PPL Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be given a $0.285 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.14 annualized dividend and a dividend yield of 3.3%. PPL’s payout ratio is 67.46%.
Analyst Ratings Changes PPL has been the subject of a number of research analyst reports. BTIG Research restated a “buy” rating on shares of PPL in a report on Thursday, June 4th. Barclays boosted their target price on shares of PPL from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Mizuho raised shares of PPL to a “hold” rating in a research report on Friday, July 3rd. Morgan Stanley decreased their price target on shares of PPL from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Bank of America lowered their price target on shares of PPL from $42.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Ten equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, PPL has an average rating of “Moderate Buy” and an average target price of $41.33.
View Our Latest Analysis on PPL
PPL Company Profile (Free Report)
PPL Corporation is an energy company that owns and operates electric transmission and distribution infrastructure and provides related customer services. The company’s core business centers on delivering electricity to residential, commercial and industrial customers through regulated utility operations, maintaining grid reliability, responding to outages and managing customer billing and account services.
PPL’s activities include construction and maintenance of distribution and transmission lines, meter and grid management, and programs to support energy efficiency and the interconnection of distributed resources.
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ALLENTOWN, Pa., Aug. 21, 2026 /PRNewswire/ -- PPL Corporation (NYSE: PPL) declared a quarterly common stock dividend on Friday, Aug. 21, 2026, of $0.2850 per share payable Oct. 1, 2026, to shareowners of record as of Sept.
Key Takeaways PPL generated $1.14B in operating cash flow in H1 2026, up 2.24% year over year. PPL plans about $23B in regulated investments through 2029, supporting 10.3% annual rate base growth. PPL expects 2026 EPS of $1.90-$1.98 and 6-8% annual EPS growth through 2029, stronger from 2027. PPL Corporation’s (PPL - Free Report) cash generation is improving, supported by higher earnings and operating performance. This provides greater financial flexibility and helps the company support its ongoing investments in infrastructure and system modernization.
In the first six months of 2026, PPL generated $1.14 billion of operating cash flow, up 2.24% from $1.12 billion in the year-ago period. PPL’s operating cash flow increased 4.67% sequentially to approximately $583 million in the second quarter of 2026 compared with $557 million in the first quarter.
PPL needs to spend heavily over several years to modernize its grid, improve reliability, connect new customers and meet rising electricity demand. These investments are important for supporting long-term growth and maintaining the quality of its regulated utility operations.
PPL aims to invest approximately $23 billion in regulated capital investments through 2029, supporting average annual rate-base growth of 10.3%. Its growing Pennsylvania and Kentucky investment opportunities could also expand the regulated asset base and support future cash generation. The company expects earnings per share (EPS) of $1.90-$1.98 in 2026 and 6-8% annual EPS growth through 2029, with stronger growth beginning in 2027.
Operating cash flow can partially fund PPL’s capital spending, providing an internal funding source while reducing reliance on external financing. This can help limit immediate debt increases and shareholder dilution.
Higher Cash Flow Supports Sustainable Utility GrowthStronger operating cash flow gives utilities more internal funding for grid upgrades, renewable projects, maintenance and dividends, reducing reliance on external financing. With utilities requiring heavy, recurring capital investment, dependable cash generation can support infrastructure expansion while preserving financial flexibility.
Exelon Corporation (EXC - Free Report) produced $3.67 billion in operating cash flow during first-half 2026, up 35% year over year, strengthening funding capacity for regulated transmission and distribution investments.
NextEra Energy (NEE - Free Report) generated $7.27 billion in operating cash flow during first-half 2026, rising about 22% year over year and supporting substantial ongoing utility capital investments.
The Zacks Rundown on PPLPPL’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 and 2027 EPS indicates a year-over-year increase of 7.18% and 8.32%, respectively.
Image Source: Zacks Investment Research
Debt to CapitalPPL's debt-to-capital ratio currently stands at 57.46%, lower than the electric power industry’s 61.32%.
Image Source: Zacks Investment Research
PPL’s Stock Price PerformanceIn the past month, the company’s shares have risen 2.9% against the industry’s 2.5% decline.
When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?
Let's take a look at what these Wall Street heavyweights have to say about PPL (PPL - Free Report) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.
PPL currently has an average brokerage recommendation (ABR) of 1.53, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 16 brokerage firms. An ABR of 1.53 approximates between Strong Buy and Buy.
Of the 16 recommendations that derive the current ABR, 11 are Strong Buy and one is Buy. Strong Buy and Buy respectively account for 68.8% and 6.3% of all recommendations.
Brokerage Recommendation Trends for PPL
Check price target & stock forecast for PPL here>>>
While the ABR calls for buying PPL, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendations in guiding investors to pick stocks with the best price increase potential.
Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every "Strong Sell" recommendation, brokerage firms assign five "Strong Buy" recommendations.
In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.
Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock's price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision.
Zacks Rank Should Not Be Confused With ABRIn spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.
The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.
On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.
Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.
Is PPL Worth Investing In?In terms of earnings estimate revisions for PPL, the Zacks Consensus Estimate for the current year has declined 0.1% over the past month to $1.94.
Analysts' growing pessimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates lower, could be a legitimate reason for the stock to plunge in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #4 (Sell) for PPL. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Therefore, it could be wise to take the Buy-equivalent ABR for PPL with a grain of salt.
Key Takeaways PPL has 31.8 GW of potential Pennsylvania data center demand, with nearly 11 GW under signed ESAs. PPL's Kentucky pipeline targets 13.7 GW potential load growth through 2032, including 11.6 GW data centers. PPL plans a $23 billion investment through 2029 and advances generation with Blackstone for data centers. PPL Corporation (PPL - Free Report) is poised to benefit from growing electricity demand driven by the expansion of AI-powered data centers across its Pennsylvania and Kentucky service territories. AI-driven data centers use significantly more electricity due to intensive computing, powerful chips and cooling needs, boosting utility growth opportunities.
PPL’s Pennsylvania segment registered nearly 31.8 gigawatts (GW) of potential data center demand, up 3.5 GW from the previous quarter, with nearly 11 GW covered by signed electric service agreements (ESAs) and more than 6.5 GW under construction. The two data centers began receiving utility service and are expected to ramp up their load to approximately 2 GW by 2031.
In the Kentucky segment, the economic development pipeline now indicates potential load growth of 13.7 GW through 2032, up from the earlier estimate of 12.9 GW. This includes 11.6 GW of data center opportunities.
PPL is making significant capital investments to modernize its infrastructure and support the growing power needs of data centers. It plans to invest $23 billion through 2029. PPL is also advancing its Invitium Energy joint venture with Blackstone to develop a new generation specifically to serve data center demand.
Through these initiatives, PPL is well-positioned to benefit from the accelerating growth in data center demand. These initiatives create opportunities for additional revenues while supporting sustainable long-term growth.
Data Centers Accelerate Utility Growth OpportunitiesThe rapid growth of artificial intelligence (AI) and digital infrastructure is positioning data centers as a key growth driver for electric utilities. This drives regulated investment, long-term power contracts, predictable revenues and sustained earnings growth for utilities.
American Electric (AEP - Free Report) benefits from rising AI-driven hyperscale data center power demand. It expects 69 GW of incremental contracted load by 2030, up from 63GW, with hyperscale data centers expected to represent nearly 90% of total demand.
FirstEnergy Corp. (FE - Free Report) is benefiting from rising electricity demand from data center development, with contracted and pipeline demand reaching 24.8 gigawatts, up about 30% from the first quarter.
The Zacks Rundown on PPLPPL’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 and 2027 earnings per share indicates a year-over-year increase of 7.18% and 8.32%, respectively.
Image Source: Zacks Investment Research
Debt to CapitalPPL's debt-to-capital ratio currently stands at 57.40%, lower than the electric power industry’s 59.72%.
Image Source: Zacks Investment Research
PPL’s Stock Price PerformanceIn the past month, the company’s shares have plunged 2.8% against the industry’s 1.8% growth.
Key Takeaways PPL reaffirmed 2026 EPS guidance of $1.90-$1.98 and 6-8% annual earnings growth through 2029.PPL Electric's Pennsylvania data center pipeline reached 31.8 GW in advanced stages, with 11 GW signed.Kentucky generation needs and Invitium could support $10B-$12B of incremental investment through 2032. PPL Corporation (PPL - Free Report) used its second-quarter 2026 earnings call to emphasize expanding data center-driven investment opportunities while keeping the existing earnings plan unchanged.
Ongoing earnings of 33 cents per share missed the Zacks Consensus Estimate of 35 cents. Second-quarter revenues of $2.11 billion fell short of the Zacks Consensus Estimate of $2.18 billion.
PPL Holds the 2026 Outlook SteadyPresident and CEO Vincent Sorgi reaffirmed PPL’s 2026 ongoing earnings forecast of $1.90 to $1.98 per share, with a midpoint of $1.94. He said stronger earnings growth is expected in the second half.
Sorgi tied that improvement to rate outcomes in Pennsylvania and Rhode Island. Pennsylvania rates took effect July 1, while Rhode Island rates are expected to become effective Sept. 1, 2026.
Executive vice president and CFO Joe Bergstein said the company remains on track to achieve at least the guidance midpoint. PPL also reaffirmed 6% to 8% annual earnings growth through at least 2029, with compound growth near the top end.
PPL Corporation Leans on Rate RecoverySorgi highlighted the $275 million Pennsylvania rate increase and its two-year stay-out provision. He said PPL plans to use capital tracking mechanisms and cost discipline to extend the time between base rate cases.
In Rhode Island, Sorgi said hearings were completed in mid-July and the proceeding remained on track for Sept. 1 rates. The company is also pursuing bill credits tied to its deferred tax hold-harmless commitment.
Bergstein said PPL deployed about $2.3 billion of capital through the first half, roughly 30% more than a year earlier. The company remains on pace for approximately $5 billion of investment in 2026.
PPL Expands the Pennsylvania Data Center CaseSorgi said PPL Electric’s data center pipeline reached 31.8 gigawatts in advanced stages, including more than 11 GW under signed electric service agreements and more than 6.5 GW under construction.
He stressed that Pennsylvania’s large-load tariff requires long contracts, minimum demand payments, upfront collateral and termination fees. Management presented those provisions as safeguards against shifting development costs to existing customers.
Two data centers began taking service during the quarter and are expected to ramp to about 2 GW of load by 2031. Sorgi said that progression is improving visibility into infrastructure and generation needs.
PPL Corporation Pushes Invitium Toward DealsSorgi said Invitium Energy, PPL’s 51% joint venture with Blackstone Infrastructure, controls sites capable of supporting 8 GW to 14 GW of generation and has more than 5 GW of turbine reservations. More meaningful CCGT earnings and cash flows could begin as early as 2031 to 2032.
The venture also has more than 5 GW accepted in the PJM interconnection queue. Management expects one or more commercial agreements by year-end, while material construction commitments require contracts or cost reimbursement protections.
A Barclays analyst asked whether Invitium must wait for PJM’s process before signing deals. Sorgi said bilateral negotiations can close independently, and material agreements would be announced when signed.
PPL Q&A Tests Funding and Kentucky TimingA Wolfe Research analyst asked how PPL expects to finance Invitium. Bergstein said construction-period financing structures would be kept off balance sheet to limit near-term dilution, followed by permanent financing after projects enter service.
In Kentucky, Sorgi said the development pipeline reached 13.7 GW, including 11.6 GW tied to data centers. Probability-weighted expected new load by 2032 rose to 3.7 GW.
A JPMorgan analyst asked what could trigger another generation filing. Sorgi said conversion from a data center developer to an actual hyperscaler contract would be a major trigger for a filing by year-end.
PPL Corporation Keeps the Base Plan SeparateSorgi closed by emphasizing execution of the regulated utility plan while developing growth options beyond it. The current business plan excludes earnings and capital contributions from Invitium Energy.
Management estimates Kentucky generation needs and Invitium could support $10 billion to $12 billion of incremental investment through 2032. The call framed those opportunities as additions to the reaffirmed outlook.
Zacks Signals Point to Uneven Style SupportWithin the Zacks framework, PPL’s Zacks Rank #4 (Sell) reflects unfavorable earnings estimate-revision trends. PPl’s Value, Growth and VGM Scores are D, while its Momentum Score is B, marking momentum as the stronger style signal.
Style Scores complement the rank rather than override it, and A or B scores are most favorable when paired with a Zacks Rank #1 (Strong Buy) or 2 (Buy). The Zacks Rank can change as analysts revise estimates following the just-reported results. You can see the complete list of today’s Zacks #1 Rank stocks here.
PPL NYSE: PPL reported second-quarter 2026 GAAP earnings of $0.30 per share, up from $0.25 per share a year earlier, while ongoing earnings rose to $0.33 per share from $0.32 per share. The company reaffirmed its full-year ongoing earnings forecast of $1.90 to $1.98 per share, with a midpoint of $1.94 per share, citing expected stronger earnings growth in the second half following rate outcomes in Pennsylvania and Rhode Island.
President and CEO Vince Sorgi said the utility is pursuing its existing capital plan while building visibility into additional growth opportunities tied to large-load customers, including data centers, and its Invitium Energy joint venture with Blackstone.
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“The headline for this quarter is straightforward,” Sorgi said. “We are executing on our current plan while creating more visible upside beyond it.”
Capital plan and financial outlook PPL said it deployed approximately $2.3 billion of capital through the first six months of 2026, about 30% more than it deployed during the same period in 2025. The company remains on pace to invest about $5 billion for the full year and continues to project $23 billion of capital investment needs through 2029.
The company reaffirmed its targets for average annual rate-base growth of more than 10%, annual earnings-per-share growth of 6% to 8% through at least 2029, annual dividend growth of 4% to 6%, and funds from operations-to-debt of 16% to 18%. PPL expects EPS growth to be near the upper end of its stated range, excluding any contribution from Invitium.
Chief Financial Officer Joe Bergstein said PPL completed its 2026 financing needs earlier in the second quarter through debt offerings at PPL Electric and Rhode Island Energy. He said the offerings were oversubscribed and secured long-dated capital at attractive terms.
By segment, Kentucky results were flat year over year, as higher base-rate recovery was offset by less favorable weather-driven sales volumes, higher operating costs, depreciation and interest expense. Pennsylvania regulated earnings declined by $0.01 per share, while Rhode Island earnings increased by $0.02 per share, aided by higher rider revenue and lower operating costs.
Rate cases advance in Pennsylvania and Rhode Island PPL Electric’s Pennsylvania rate-case settlement took effect July 1, approving a $275 million increase. Sorgi said the increase supports infrastructure investment while representing less than a 4% increase across rate classes. He added that PPL Electric delivery rates remain nearly 20% below the latest published state average.
The settlement includes a two-year stay-out provision for base-rate increases through July 1, 2028. Bergstein said PPL intends to use the state’s Distribution System Improvement Charge, or DISC, mechanism and cost discipline to maximize the period between rate cases. The company plans to file an updated five-year long-term infrastructure improvement plan next year.
In Rhode Island, hearings in PPL’s base-rate case were completed in mid-July, with public meetings scheduled from Aug. 12 through Aug. 20 and new rates expected to take effect Sept. 1. The filing is Rhode Island Energy’s first requested base-rate increase in eight years, according to PPL.
PPL also continues to pursue a proposal to accelerate customer bill credits associated with its deferred-tax hold-harmless commitment made when it acquired Rhode Island Energy. The company said the credits, if approved, would significantly offset the requested base-rate increase for customers.
In Kentucky, PPL is awaiting a decision on its request for reconsideration of a Kentucky Public Service Commission ruling. The company requested a decision by Aug. 14 and said it believes the original decision permits it to meet overall plan objectives, though it seeks changes it considers important for reliability and resilience investments.
Data-center demand and Kentucky generation opportunity Signed data-center agreements in PPL Electric’s Pennsylvania service territory rose for a 10th consecutive quarter to roughly 32 gigawatts, an increase of 3.5 gigawatts from the prior quarter. More than 11 gigawatts are covered by electric service agreements, or ESAs, which carry financial commitments from customers, while more than 6.5 gigawatts of projects are under construction.
Two data centers began taking utility service during the quarter and are expected to ramp to about 2 gigawatts of load by 2031. Sorgi said the company’s large-load tariffs require long contract terms, capacity payments of at least 80% of reserved capacity, upfront collateral and termination fees.
Beginning in 2027, Pennsylvania’s large-load customer class is expected to contribute $11 million annually to low-income assistance, which PPL said was previously funded by existing customers. If 31.8 gigawatts of advanced-stage projects are realized, existing Pennsylvania customers could see approximately $25 per month reduced from the transmission component of bills over time, according to the company.
In Kentucky, PPL’s development pipeline expanded to 13.7 gigawatts, including 11.6 gigawatts of data-center demand and 2.1 gigawatts from manufacturing and other projects. The company’s probability-weighted forecast calls for 3.7 gigawatts of new load by 2032, more than double the amount reflected in its 2025 certificate filing.
PPL said it may file for additional generation resources by year-end. Potential projects include the 266-megawatt Lewis Ridge Pumped Storage Project, 400 megawatts of previously deferred battery storage and additional natural-gas combined-cycle generation. Those projects could represent $3.5 billion to $4 billion of investment between 2027 and 2032.
Invitium joint venture targets commercial agreements PPL said Invitium, its joint venture with Blackstone, has secured strategic land sites capable of supporting 8 to 14 gigawatts of generation, depending on technology choices. More than 5 gigawatts of combined-cycle natural-gas generation has been accepted in the PJM interconnection queue, and the venture has reservation agreements for more than 5 gigawatts of combined-cycle gas turbines.
Using estimated project costs of $2,500 to $3,000 per kilowatt, PPL placed the potential investment associated with that 5-gigawatt pipeline at $12.5 billion to $15 billion through 2032, of which PPL’s share would be 51%.
Sorgi said PPL expects one or more commercial agreements by year-end, though he declined to specify the potential size or timing of individual deals. He said bilateral agreements can proceed independently of PJM’s capacity-matching process, and PPL remains focused on bilateral contracting with customers.
The company does not expect material earnings from Invitium through 2030. However, batteries and other shorter-lead-time technologies could begin contributing in 2029 or 2030, while combined-cycle projects could enter service as early as 2031 or 2032. PPL said it will not begin construction or make material financial commitments without executed energy supply service agreements or cost-reimbursement arrangements.
About PPL (NYSE:PPL)PPL Corporation is an energy company that owns and operates electric transmission and distribution infrastructure and provides related customer services. The company's core business centers on delivering electricity to residential, commercial and industrial customers through regulated utility operations, maintaining grid reliability, responding to outages and managing customer billing and account services.
PPL's activities include construction and maintenance of distribution and transmission lines, meter and grid management, and programs to support energy efficiency and the interconnection of distributed resources.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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PPL (PPL - Free Report) reported $2.11 billion in revenue for the quarter ended June 2026, representing a year-over-year increase of 4.3%. EPS of $0.33 for the same period compares to $0.32 a year ago.
The reported revenue represents a surprise of -3.03% over the Zacks Consensus Estimate of $2.18 billion. With the consensus EPS estimate being $0.35, the EPS surprise was -5.71%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how PPL performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Pennsylvania Regulated: $744 million versus the two-analyst average estimate of $744.91 million. The reported number represents a year-over-year change of +7.4%.Revenues- Rhode Island Regulated: $479 million versus $545 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -3% change.Operating Income- PPL Electric Utility: $227 million versus the two-analyst average estimate of $249.02 million.View all Key Company Metrics for PPL here>>>
Shares of PPL have returned -2.9% over the past month versus the Zacks S&P 500 composite's +2.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
PPL Corporation remains a 'Hold' after Q2, with shares underperforming due to full valuation and limited data center exposure. PPL targets 6%-8% annual EPS growth through 2029, driven by a $23 billion cap-ex plan focused on infrastructure upgrades and coal migration. Dividend growth is expected at 4%-6%, with a secure 3.3% yield and a cautious outlook given political risks around data center cost allocation.
Key Takeaways PPL's Q2 ongoing EPS rose 3.1% to 33 cents but missed the consensus estimate by 5.7%.PPL revenues increased 4.2% to $2.11 billion, while operating expenses climbed 1.1%.PPL's Pennsylvania data center pipeline reached 31.8 GW, with over 6.5 GW under construction. PPL Corporation (PPL - Free Report) posted second-quarter 2026 ongoing earnings of 33 cents, which missed the Zacks Consensus Estimate of 35 cents by 5.7%. Earnings increased 3.1% from 32 cents in the year-ago quarter.
On a GAAP basis, PPL recorded earnings per share (EPS) of 30 cents compared with 25 cents in the year-ago quarter. The difference between GAAP and operating EPS in the second quarter was due to the impacts of 3 cents from special items.
PPL’s RevenuesTotal revenues of $2.11 billion lagged the Zacks Consensus Estimate of $2.18 billion by 3%. The top line increased 4.2% from the year-ago figure of $2.03 billion.
Highlights of PPL’s Q2 ReleaseIn the second quarter, the company sold 15,491 gigawatt hours of electricity to its customers in Pennsylvania and Kentucky, reflecting a year-over-year decrease of 1.6%.
Total operating expenses were $1.64 billion, up 1.1% from $1.62 billion in the year-ago quarter. The increase was primarily attributable to higher fuel expenses, increased energy purchases and higher depreciation expense.
Operating income totaled $475 million, up 17% from the year-ago figure of $406 million.
Interest expenses amounted to $232 million, up 16.6% from $199 million in the year-ago quarter.
PPL Corporation's Regulated Units Deliver Mixed ResultsPennsylvania Regulated: Adjusted earnings declined to 18 cents per share from 19 cents a year ago, as higher depreciation and interest expenses more than offset increased transmission revenues from capital investments.
Kentucky Regulated: Adjusted earnings were 18 cents per share, unchanged year over year. Higher income from retail rates effective Jan. 1, 2026, was offset by increased operating costs, depreciation and interest expense.
Rhode Island Regulated: Adjusted earnings improved to 3 cents from 1 cent, aided by lower operating costs and higher rider revenues.
Corporate and Other: The segment incurred a loss of 6 cents per share, in line with the year-ago figure.
PPL Sees Data Center Demand ExpandingPPL Electric Utilities' Pennsylvania data center pipeline reached 31.8 GW in advanced stages during the second quarter. More than 11 GW was under signed electric service agreements, while more than 6.5 GW was under construction, up from 5 GW in the first quarter. Two data centers began receiving utility service during the quarter.
Invitium Energy, PPL's joint venture with Blackstone Infrastructure, has secured sites capable of supporting 8-14 GW of new generation. More than 5 GW of projects have entered PJM's interconnection queue, while turbine reservation agreements covering more than 5 GW could support $12.5-$15.0 billion of potential joint-venture investment through 2032.
PPL’s Balance Sheet and Cash FlowAs of June 30, 2026, PPL had cash and cash equivalents of $332 million compared with $1.07 billion as of Dec. 31, 2025.
As of June 30, 2026, the long-term debt was $19.79 billion compared with $17.99 billion as of Dec. 31, 2025.
Net cash provided by operating activities in the first six months of 2026 was $1.14 billion compared with $1.12 billion in the year-ago period.
PPL spent $2.34 billion on property, plant and equipment during the first six months of 2026, up 35.8% from $1.72 billion a year earlier.
PPL’s Earnings and Capital Investment OutlookPPL expects 2026 earnings to be in the range of $1.90-$1.98 per share. The Zacks Consensus Estimate is pegged at $1.94, in line with the midpoint of the company’s guided range. PPL expects a long-term annual earnings growth rate of 6-8% through 2029.
PPL remains on track to complete about $5.1 billion of capital investments in 2026 and projects $23 billion through 2029.
PPL’s Zacks RankThe company currently has a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent ReleasesEvergy, Inc. (EVRG - Free Report) reported second-quarter 2026 adjusted earnings of 88 cents per share, which beat the Zacks Consensus Estimate of 82 cents by 7.3%. Earnings increased 7.3% from 82 cents in the year-ago quarter.
The Zacks Consensus Estimate for 2026 and 2027 EPS is pinned at $4.25 and $4.55, indicating year-over-year growth of 10.97% and 7.06%, respectively.
IDACORP, Inc. (IDA - Free Report) reported second-quarter 2026 earnings of $1.79 per share, which topped the Zacks Consensus Estimate of $1.75 by 2.3%. The company’s earnings also improved 1.7% from $1.76 in the year-ago quarter.
The Zacks Consensus Estimate for 2026 and 2027 EPS is pinned at $6.39 and $6.93, indicating year-over-year growth of 8.31% and 8.48%, respectively.
NextEra Energy (NEE - Free Report) reported second-quarter 2026 results with adjusted EPS of $1.15, up 9.5% from $1.05 a year ago. The figure beat the Zacks Consensus Estimate of $1.09 by 5.5%.
The Zacks Consensus Estimate for 2026 and 2027 EPS is pinned at $4.02 and $4.37, indicating year-over-year growth of 8.36% and 8.73%, respectively.
PPL Corp (PPL) released its 8-K filing on August 7, 2026, revealing a second-quarter earnings report that showed mixed results compared to analyst expectations.
PPL (PPL - Free Report) came out with quarterly earnings of $0.33 per share, missing the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.32 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -5.71%. A quarter ago, it was expected that this energy and utility holding company would post earnings of $0.61 per share when it actually produced earnings of $0.63, delivering a surprise of +3.28%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
PPL, which belongs to the Zacks Utility - Electric Power industry, posted revenues of $2.11 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 3.03%. This compares to year-ago revenues of $2.03 billion. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
PPL shares have lost about 1.1% since the beginning of the year versus the S&P 500's gain of 12.6%.
What's Next for PPL?While PPL has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for PPL was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.52 on $2.44 billion in revenues for the coming quarter and $1.94 on $9.78 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Utility - Electric Power is currently in the bottom 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Cadiz (CDZI - Free Report) , another stock in the broader Zacks Utilities sector, has yet to report results for the quarter ended June 2026.
This renewable resource company is expected to post quarterly loss of $0.10 per share in its upcoming report, which represents a year-over-year change of +9.1%. The consensus EPS estimate for the quarter has been revised 5% higher over the last 30 days to the current level.
Cadiz's revenues are expected to be $4.22 million, up 2.1% from the year-ago quarter.
Announces 2026 second-quarter reported earnings (GAAP) of $0.30 per share. Achieves 2026 second-quarter ongoing earnings per share of $0.33 versus $0.32 in 2025. Reaffirms 2026 ongoing earnings forecast range of $1.90 to $1.98 per share with a midpoint of $1.94. Reaffirms annual EPS growth target of 6% to 8% through at least 2029 with compound annual growth expected to be near top end of the target range. Estimates current economic development in Pennsylvania and Kentucky could present potential generation investment upside of $10 billion to $12 billion through 2032. , /PRNewswire/ -- PPL Corporation (NYSE: PPL) today announced second-quarter 2026 reported earnings (GAAP) of $230 million, or $0.30 per share, compared with second-quarter 2025 reported earnings of $183 million, or $0.25 per share.
PPL reported earnings of $682 million, or $0.90 per share for the first six months of 2026, compared with reported earnings of $597 million, or $0.80 per share, for the first six months of 2025.
Adjusting for special items, second-quarter 2026 earnings from ongoing operations (non-GAAP) were $247 million, or $0.33 per share, compared with $240 million, or $0.32 per share, a year ago.
Earnings from ongoing operations for the first six months of 2026 were $725 million, or $0.96 per share, compared with $684 million, or $0.92 per share, for the first six months of 2025.
"Our solid second-quarter results demonstrate continued execution across our regulated utility portfolio and keep us on track to deliver our 2026 commitments," said Vincent Sorgi, PPL president and chief executive officer. "We are benefiting from disciplined cost management, strong operational focus and timely recovery of prudent investments that strengthen service for customers. Those investments are designed to modernize the grid, improve system resilience and support growing demand in a way that protects our existing customers while delivering long-term shareowner returns.
"With constructive regulatory frameworks across our jurisdictions and a clear capital investment plan, we believe PPL is well positioned to capture emerging growth opportunities while maintaining our commitment to affordability and reliability."
Based on the company's financial performance year to date, PPL reaffirmed its 2026 ongoing earnings forecast range of $1.90 to $1.98 per share with a midpoint of $1.94 per share. The company continues to expect stronger earnings growth in the second half of 2026, supported by improved rate recovery and capital tracking mechanisms that enable timely recovery of investments.
PPL also reaffirmed its projection of 6% to 8% annual earnings-per-share (EPS) growth through at least 2029 and continues to expect compound annual growth near the top end of that range compared with 2025 actual ongoing earnings. The company expects stronger earnings growth beginning in 2027 and continuing through 2029. PPL's business plan does not include any earnings contributions or capital investments related to Invitium Energy, LLC, its 51% joint venture with Blackstone Infrastructure to build and operate generation resources to directly support data centers in Pennsylvania.
Economic Development Expands Long-Term Investment Opportunities
PPL continues to see growing development and interest from data center developers and other large energy users across its Pennsylvania and Kentucky service territories, creating greater visibility into future infrastructure and generation investment opportunities.
The company estimates current economic development activity in its Pennsylvania and Kentucky service territories could present $10 billion to $12 billion of total investment upside through 2032 tied to generation needs. The estimated opportunity includes regulated generation investment to support growing demand in Kentucky, as well as PPL's ownership interest in generation development opportunities through Invitium Energy in Pennsylvania.
Pennsylvania
PPL Electric Utilities' data center pipeline grew to 31.8 gigawatts (GW) in advanced stages of planning in the second quarter, with over 11 GW under signed electric service agreements and more than 6.5 GW under construction. Importantly, PPL Electric Utilities has established a regulatory-approved tariff that includes strong protections for existing customers as large-load development expands. These protections help ensure that data centers and other large-load customers fund the infrastructure required to serve them, helping support continued affordability for existing customers while enabling economic development across the Commonwealth.
In Pennsylvania, Invitium Energy remains focused on building, owning and operating new generation to serve new data center demand under long-term energy supply services agreements (ESSAs). The joint venture has secured land sites capable of supporting 8 GW to 14 GW of new generation capacity, depending on the type of generation resources built, and it continues to develop and build its inventory of viable generation sites. PJM has accepted more than 5 GW of Invitium Energy generation interconnection requests, and the joint venture has secured reservation agreements for more than 5 GW of combined-cycle gas turbines.
The 5 GW of turbine capacity alone represents $12.5 billion to $15.0 billion of potential future investment opportunities at the joint-venture level through 2032. And Invitium Energy's continued progress positions the joint venture to move quickly upon signing ESSAs. Importantly, Invitium Energy will not begin construction or make material financial commitments until it has signed ESSAs with appropriate risk profiles or cost reimbursement agreements are in place. Based on progress to date, PPL expects to have one or more commercial agreements by the end of 2026.
PPL said it does not expect the earnings contributions from the joint venture to be material through 2030 but said batteries or other shorter-lead-time technologies could begin contributing earnings in 2029 or 2030, potentially enhancing PPL's projected earnings-per-share growth rate above the top end of the company's 6% to 8% range. The company would expect more meaningful earnings and cash flows when the combined-cycle gas turbines come online, which could be as early as the 2031 to 2032 timeframe.
Invitium Energy operates separately from PPL Electric Utilities, and PPL Electric Utilities customers are not funding these activities.
Kentucky
The potential economic development pipeline in the Louisville Gas and Electric Company (LG&E) and Kentucky Utilities Company (KU) service territories grew to 13.7 GW in the second quarter, of which 11.6 GW are tied to data center opportunities, with 1.3 GW under signed agreements.
PPL said the growing Kentucky project pipeline makes it more likely LG&E and KU will file a CPCN request by the end of 2026 to build additional generation beyond the 2.3 GW the utilities are already developing from prior CPCN approvals. The company estimates the additional generation represents $3.5 billion to $4.0 billion of incremental investment need between 2027 and 2032.
LG&E and KU also have established regulatory-approved large-load tariffs that include strong protection for their existing customers.
Second-Quarter 2026 Earnings Details
As discussed in this news release, reported earnings are calculated in accordance with U.S. Generally Accepted Accounting Principles (GAAP). "Earnings from ongoing operations" is a non-GAAP financial measure that is adjusted for special items. See the tables at the end of this news release for a reconciliation of reported earnings (net income) to earnings from ongoing operations, including an itemization of special items.
(Dollars in millions, except for per share amounts)
2nd Quarter
Year to Date
2026
2025
Change
2026
2025
Change
Reported earnings
$ 230
$ 183
26 %
$ 682
$ 597
14 %
Reported earnings per share
$ 0.30
$ 0.25
20 %
$ 0.90
$ 0.80
13 %
2nd Quarter
Year to Date
2026
2025
Change
2026
2025
Change
Earnings from ongoing operations
$ 247
$ 240
3 %
$ 725
$ 684
6 %
Earnings from ongoing operations per share
$ 0.33
$ 0.32
3 %
$ 0.96
$ 0.92
4 %
Second-Quarter 2026 Earnings by Segment
2nd Quarter
Year to Date
Per share
2026
2025
2026
2025
Reported earnings
Kentucky Regulated
$ 0.18
$ 0.17
$ 0.53
$ 0.47
Pennsylvania Regulated
0.17
0.19
0.42
0.44
Rhode Island Regulated
0.01
(0.02)
0.06
0.07
Corporate and Other
(0.06)
(0.09)
(0.11)
(0.18)
Total
$ 0.30
$ 0.25
$ 0.90
$ 0.80
2nd Quarter
Year to Date
2026
2025
2026
2025
Special items (expense) benefit
Kentucky Regulated
$ —
$ (0.01)
$ 0.02
$ (0.01)
Pennsylvania Regulated
(0.01)
—
(0.01)
—
Rhode Island Regulated
(0.02)
(0.03)
(0.06)
(0.04)
Corporate and Other
—
(0.03)
(0.01)
(0.07)
Total
$ (0.03)
$ (0.07)
$ (0.06)
$ (0.12)
2nd Quarter
Year to Date
2026
2025
2026
2025
Earnings from ongoing operations
Kentucky Regulated
$ 0.18
$ 0.18
$ 0.51
$ 0.48
Pennsylvania Regulated
0.18
0.19
0.43
0.44
Rhode Island Regulated
0.03
0.01
0.12
0.11
Corporate and Other
(0.06)
(0.06)
(0.10)
(0.11)
Total
$ 0.33
$ 0.32
$ 0.96
$ 0.92
Key Factors Impacting Earnings
In addition to the segment drivers outlined below, PPL's reported earnings in the second quarter of 2026 included net special-item after-tax charges of $17 million, or $0.03 per share, primarily attributable to PPL's IT transformation and system integration impacts. Reported earnings in the second quarter of 2025 included net special-item after-tax charges of $57 million, or $0.07 per share, primarily attributable to PPL's IT transformation and integration-related expenses and adjustments associated with the acquisition of Rhode Island Energy.
Reported earnings in the first six months of 2026 included net special-item after-tax charges of $43 million or $0.06 per share, primarily attributable to prior-year impacts associated with an ISO New England transmission return on equity reduction and system integration impacts. Reported earnings in the first six months of 2025 included net special-item after-tax charges of $87 million, or $0.12 per share, primarily attributable to PPL's IT transformation and integration-related expenses and adjustments associated with the acquisition of Rhode Island Energy.
Kentucky Regulated Segment
PPL's Kentucky Regulated segment primarily consists of the regulated electricity and natural gas operations of Louisville Gas and Electric Company and the regulated electricity operations of Kentucky Utilities Company.
Reported earnings in the second quarter of 2026 increased by $0.01 per share compared with a year ago. Earnings from ongoing operations in the second quarter of 2026 were flat compared with a year ago. Factors driving earnings results primarily included higher income due to higher retail rates effective January 1, 2026, offset by higher operating costs, higher depreciation expense and higher interest expense.
Reported earnings in the first six months of 2026 increased by $0.06 per share compared with a year ago. Earnings from ongoing operations in the first six months of 2026 increased by $0.03 per share compared with a year ago. Factors driving earnings results primarily included higher income due to higher retail rates effective January 1, 2026, and increased returns on capital investments, partially offset by lower sales volumes, higher operating costs, higher depreciation expense and higher interest expense.
Pennsylvania Regulated Segment
PPL's Pennsylvania Regulated segment consists of the regulated electricity delivery operations of PPL Electric Utilities.
Reported earnings in the second quarter of 2026 decreased by $0.02 per share compared with a year ago. Earnings from ongoing operations in the second quarter of 2026 decreased by $0.01 per share compared with a year ago. Factors driving earnings results primarily included higher depreciation expense and higher interest expense, partially offset by higher transmission revenue from additional capital investments.
Reported earnings in the first six months of 2026 decreased by $0.02 per share compared with a year ago. Earnings from ongoing operations in the first six months of 2026 decreased by $0.01 per share compared with a year ago. Factors driving earnings results primarily included higher operating costs, higher depreciation expense and higher interest expense, partially offset by higher transmission revenue from additional capital investments and higher sales volumes largely due to weather.
Rhode Island Regulated Segment
PPL's Rhode Island Regulated segment consists of the regulated electricity and natural gas operations of Rhode Island Energy.
Reported earnings in the second quarter of 2026 increased by $0.03 per share compared with a year ago. Earnings from ongoing operations in the second quarter of 2026 increased by $0.02 per share compared with a year ago. Factors driving earnings results primarily included lower operating costs and higher rider revenue, partially offset by higher depreciation expense.
Reported earnings in the first six months of 2026 decreased by $0.01 per share compared with a year ago. Earnings from ongoing operations in the first six months of 2026 increased by $0.01 per share compared with a year ago. Factors driving earnings results primarily included lower operating costs and higher rider revenue, partially offset by higher depreciation expense and higher interest expense.
Corporate and Other
PPL's Corporate and Other category primarily includes financing costs incurred at the corporate level, certain non-recoverable costs prior to 2026 resulting from commitments made to the Rhode Island Division of Public Utilities and Carriers and the Rhode Island Attorney General's Office in conjunction with the acquisition of Rhode Island Energy, and certain other unallocated costs.
Reported earnings in the second quarter of 2026 increased by $0.03 per share compared with a year ago. Earnings from ongoing operations in the second quarter of 2026 were flat compared with a year ago. Factors driving earnings results primarily included higher interest expense, offset by factors that were not individually significant.
Reported earnings in the first six months of 2026 increased by $0.07 per share compared with a year ago. Earnings from ongoing operations in the first six months of 2026 increased by $0.01 per share compared with a year ago. Factors driving earnings results primarily included higher interest income and lower income taxes, partially offset by higher interest expense.
2026 Earnings Forecast
PPL's 2026 earnings from ongoing operations forecast range is $1.90 to $1.98 per share, with a midpoint of $1.94 per share.
Earnings from ongoing operations is a non-GAAP measure that could differ from reported earnings due to special items that are, in management's view, non-recurring or otherwise not reflective of the company's ongoing operations. PPL management is not able to forecast whether any of these factors will occur or whether any amounts will be reported for future periods. Therefore, PPL is not able to provide an equivalent GAAP measure for earnings guidance.
See the table at the end of this news release for a complete reconciliation of the earnings forecast.
About PPL
PPL Corporation (NYSE: PPL), headquartered in Allentown, Pennsylvania, is a leading U.S. energy company focused on providing electricity and natural gas safely, reliably and affordably to more than 3.6 million customers in the U.S. PPL's high-performing, award-winning utilities are addressing energy challenges head-on by building smarter, more resilient and more dynamic power grids and advancing sustainable energy solutions. For more information, visit www.pplweb.com.
(Note: All references to earnings per share in the text and tables of this news release are stated in terms of diluted earnings per share unless otherwise noted.)
Conference Call and Webcast
PPL invites interested parties to listen to a live internet webcast of management's teleconference with financial analysts about second-quarter 2026 financial results at 11 a.m. Eastern time on Friday, Aug. 7. The call will be webcast live, in audio format, together with slides of the presentation. For those who are unable to listen to the live webcast, a replay with slides will be accessible at www.pplweb.com/investors for 90 days after the call.
Interested individuals can access the live conference call by telephone at 1-844-512-2926. International participants should call 1-412-317-6300. Participants will need to enter the following "Elite Entry" number to join the conference: 4896257. Callers can access the webcast link at www.pplweb.com/investors under "Events."
Management utilizes "Earnings from Ongoing Operations" or "Ongoing Earnings" as a non-GAAP financial measure that should not be considered as an alternative to reported earnings, or net income, an indicator of operating performance determined in accordance with GAAP. PPL believes that Earnings from Ongoing Operations is useful and meaningful to investors because it provides management's view of PPL's earnings performance as another criterion in making investment decisions. In addition, PPL's management uses Earnings from Ongoing Operations in measuring achievement of certain corporate performance goals, including targets for certain executive incentive compensation. Other companies may use different measures to present financial performance.
Earnings from Ongoing Operations is adjusted for the impact of special items. Special items are presented in the financial tables on an after-tax basis with the related income taxes on special items separately disclosed. Income taxes on special items, when applicable, are calculated based on the statutory tax rate of the entity where the activity is recorded. Special items may include items such as:
Gains and losses on sales of assets not in the ordinary course of business. Impairment charges. Significant workforce reduction and other restructuring effects. Acquisition and divestiture-related adjustments. Other charges or credits that are, in management's view, non-recurring or otherwise not reflective of the company's ongoing operations. Statements contained in this news release, including statements with respect to future earnings, cash flows, dividends, financing, regulation and corporate strategy, are "forward-looking statements" within the meaning of the federal securities laws. Although PPL Corporation believes that the expectations and assumptions reflected in these forward-looking statements are reasonable, these statements are subject to a number of risks and uncertainties, and actual results may differ materially from the results discussed in the statements. The following are among the important factors that could cause actual results to differ materially from the forward-looking statements: weather conditions affecting customer energy usage and operating costs; strategic acquisitions, dispositions, joint ventures or similar transactions and our ability to consummate these business transactions, integrate the acquired entities or realize expected benefits from them; the outcome of rate cases or other cost recovery, revenue or regulatory proceedings; war, armed conflicts, terrorist attacks or similar disruptive events including ongoing conflicts in Ukraine and the Middle East; pandemic health events or other catastrophic events and their effect on financial markets, economic conditions and our businesses; market demand for energy in our service territories; volatility in or the impact of other changes on financial markets, commodity prices and economic conditions, including inflation; the effect of any business or industry restructuring; the profitability and liquidity of PPL Corporation and its subsidiaries; new accounting requirements or new interpretations or applications of existing requirements; operating performance of our facilities; the length of scheduled and unscheduled outages at our generating plants; environmental conditions and requirements and the related costs of compliance; system conditions and operating costs; development of new projects, markets and technologies; performance of new ventures; any impact of severe weather on our business; receipt of necessary government permits, approvals, rate relief and regulatory cost recovery; capital market conditions and decisions regarding capital structure; the impact of state, federal or foreign investigations applicable to PPL Corporation and its subsidiaries; the outcome of litigation against PPL Corporation and its subsidiaries; PPL Corporation's stock price performance; the market prices of equity securities and the impact on pension income and resultant cash funding requirements for defined benefit pension plans; the securities and credit ratings of PPL Corporation and its subsidiaries; political, regulatory or economic conditions in jurisdictions where PPL Corporation or its subsidiaries conduct business, including any potential effects of threatened or actual cyberattack, terrorism or war or other hostilities; new state, federal or foreign legislation, including new tax legislation; and the commitments and liabilities of PPL Corporation and its subsidiaries. Any such forward-looking statements should be considered in light of such important factors and in conjunction with factors and other matters discussed in PPL Corporation's Form 10-K and other reports on file with the Securities and Exchange Commission.
Less: Accumulated depreciation - non-regulated property, plant and equipment
26
26
Non-regulated property, plant and equipment, net
56
45
Construction work in progress
4,149
3,437
Property, Plant and Equipment, net
37,770
36,132
Noncurrent regulatory assets
2,148
2,092
Goodwill and other intangibles
2,578
2,574
Other noncurrent assets
640
515
Total Assets
$ 46,301
$ 45,244
Liabilities and Equity
Short-term debt
$ 65
$ 456
Long-term debt due within one year
469
904
Accounts payable
1,360
1,559
Other current liabilities
1,603
1,627
Long-term debt
19,789
17,990
Deferred income taxes and investment tax credits
3,776
3,615
Accrued pension obligations
262
281
Asset retirement obligations
109
133
Noncurrent regulatory liabilities
3,253
3,318
Other deferred credits and noncurrent liabilities
570
480
Common stock and additional paid-in capital
12,339
12,451
Treasury stock
(547)
(575)
Earnings reinvested
3,458
3,207
Accumulated other comprehensive loss
(205)
(202)
Total Liabilities and Equity
$ 46,301
$ 45,244
(1)
The Financial Statements in this news release have been condensed and summarized for purposes of this presentation. Please refer to PPL Corporation's periodic filings with the Securities and Exchange Commission for full financial statements, including note disclosure.
PPL CORPORATION AND SUBSIDIARIES
Condensed Consolidated Statements of Income (Unaudited)
(Millions of Dollars, except share data)
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
Operating Revenues
$ 2,111
$ 2,025
$ 4,885
$ 4,529
Operating Expenses
Operation
Fuel
195
192
469
426
Energy purchases
403
388
1,106
947
Other operation and maintenance
572
614
1,151
1,212
Depreciation
362
324
713
646
Taxes, other than income
104
101
226
214
Total Operating Expenses
1,636
1,619
3,665
3,445
Operating Income
475
406
1,220
1,084
Other Income (Expense) - net
43
23
82
51
Interest Expense
232
199
456
389
Income Before Income Taxes
286
230
846
746
Income Taxes
56
47
164
149
Net Income
$ 230
$ 183
$ 682
$ 597
Earnings Per Share of Common Stock:
Net Income Available to PPL Common Shareowners
Basic
$ 0.31
$ 0.25
$ 0.91
$ 0.81
Diluted
$ 0.30
$ 0.25
$ 0.90
$ 0.80
Weighted-Average Shares of Common Stock Outstanding (in thousands)
Basic
752,358
739,276
752,062
738,986
Diluted
757,225
742,541
757,193
741,972
PPL CORPORATION AND SUBSIDIARIES
Condensed Consolidated Statements of Cash Flows (Unaudited)
(Millions of Dollars)
Six Months Ended June 30,
2026
2025
Cash Flows from Operating Activities
Net income
$ 682
$ 597
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation
713
646
Amortization
65
49
Defined benefit plans - income
(7)
(30)
Deferred income taxes and investment tax credits
137
104
Equity component of AFUDC
(52)
(35)
Other
12
38
Change in current assets and current liabilities
Accounts receivable
(31)
(91)
Accounts payable
(192)
(167)
Unbilled revenues
138
63
Fuel, materials and supplies
(42)
13
Prepayments
(67)
(56)
Taxes payable
(72)
40
Regulatory assets and liabilities, net
(10)
64
Accrued interest
6
(5)
Other
(36)
(52)
Other operating activities
Defined benefit plans - funding
(8)
(7)
Other
(96)
(56)
Net cash provided by operating activities
1,140
1,115
Cash Flows from Investing Activities
Expenditures for property, plant and equipment
(2,339)
(1,723)
Other investing activities
(68)
10
Net cash used in investing activities
(2,407)
(1,713)
Cash Flows from Financing Activities
Issuance of long-term debt
2,046
—
Retirement of long-term debt
(668)
—
Payment of common stock dividends
(416)
(392)
Net increase (decrease) in short-term debt
(391)
983
Debt issuance costs
(38)
(5)
Other financing activities
(13)
(9)
Net cash provided by financing activities
520
577
Net Decrease in Cash, Cash Equivalents and Restricted Cash
(747)
(21)
Cash, Cash Equivalents and Restricted Cash at Beginning of Period
1,086
339
Cash, Cash Equivalents and Restricted Cash at End of Period
$ 339
$ 318
Supplemental Disclosures of Cash Flow Information
Significant non-cash transactions:
Accrued expenditures for property, plant and equipment at June 30,
$ 612
$ 450
Operating - Electricity Sales (Unaudited)(1)
Three Months Ended
June 30,
Six Months Ended
June 30,
Percent
Percent
(GWh)
2026
2025
Change
2026
2025
Change
PA Regulated Segment
Retail Delivered(2)
8,382
8,426
(0.5) %
18,696
18,569
0.7 %
KY Regulated Segment
Retail Delivered
6,958
7,043
(1.2) %
14,603
14,846
(1.6) %
Wholesale(3)
151
268
(43.7) %
459
707
(35.1) %
Total
7,109
7,311
(2.8) %
15,062
15,553
(3.2) %
Total
15,491
15,737
(1.6) %
33,758
34,122
(1.1) %
(1)
Excludes the Rhode Island Regulated segment electricity sales as revenues are decoupled from volumes delivered.
(2)
2025 includes estimated volumes for industrial customers that were not billed during the period.
(3)
Represents FERC-regulated municipal and unregulated off-system sales.
Reconciliation of Segment Reported Earnings to Earnings from Ongoing Operations
(After-Tax)
(Unaudited)
2nd Quarter 2026
(millions of dollars)
KY
PA
RI
Corp.
Reg.
Reg.
Reg.
& Other
Total
Reported Earnings(1)
$ 131
$ 132
$ 10
$ (43)
$ 230
Less: Special Items (expense) benefit:
IT transformation, net of tax of $0, $1, $1, $1(2)
(1)
(3)
(2)
(3)
(9)
Customer system integration impacts, net of tax of $2(3)
—
—
(6)
—
(6)
ISO-NE transmission rates ROE reduction, net of tax of $0(4)
—
—
(1)
—
(1)
Safety transformation, net of tax of $0(5)
(1)
—
—
—
(1)
Total Special Items
(2)
(3)
(9)
(3)
(17)
Earnings from Ongoing Operations
$ 133
$ 135
$ 19
$ (40)
$ 247
(per share - diluted)
KY
PA
RI
Corp.
Reg.
Reg.
Reg.
& Other
Total
Reported Earnings(1)
$ 0.18
$ 0.17
$ 0.01
$ (0.06)
$ 0.30
Less: Special Items (expense) benefit:
IT transformation(2)
—
(0.01)
(0.01)
—
(0.02)
Customer system integration impacts(3)
—
—
(0.01)
—
(0.01)
Total Special Items
—
(0.01)
(0.02)
—
(0.03)
Earnings from Ongoing Operations
$ 0.18
$ 0.18
$ 0.03
$ (0.06)
$ 0.33
(1)
Reported Earnings represents Net Income.
(2)
Costs associated with PPL's restructuring and rebuilding of its IT infrastructure, organization and systems.
(3)
Certain collection process costs incurred due to the timing and implementation of the customer system integration.
(4)
Prior period impact of an ISO New England transmission rates return on equity reduction.
(5)
Costs associated with an enterprise-wide safety transformation program.
Reconciliation of Segment Reported Earnings to Earnings from Ongoing Operations
(After-Tax)
(Unaudited)
Year-to-Date June 30, 2026
(millions of dollars)
KY
PA
RI
Corp.
Reg.
Reg.
Reg.
& Other
Total
Reported Earnings(1)
$ 401
$ 316
$ 46
$ (81)
$ 682
Less: Special Items (expense) benefit:
IT transformation, net of tax of ($5), $2, $1, $2(2)
15
(5)
(4)
(6)
—
Customer system integration impacts, net of tax of $3(3)
—
—
(13)
—
(13)
ISO-NE transmission rates ROE reduction, net of tax of $5(4)
—
—
(20)
—
(20)
Meter system integration impacts, net of tax of $2(5)
—
—
(9)
—
(9)
Safety transformation, net of tax of $0(6)
(1)
—
—
—
(1)
Total Special Items
14
(5)
(46)
(6)
(43)
Earnings from Ongoing Operations
$ 387
$ 321
$ 92
$ (75)
$ 725
(per share - diluted)
KY
PA
RI
Corp.
Reg.
Reg.
Reg.
& Other
Total
Reported Earnings(1)
$ 0.53
$ 0.42
$ 0.06
$ (0.11)
$ 0.90
Less: Special Items (expense) benefit:
IT transformation(2)
0.02
(0.01)
—
(0.01)
—
Customer system integration impacts(3)
—
—
(0.02)
—
(0.02)
ISO-NE transmission rates ROE reduction(4)
—
—
(0.03)
—
(0.03)
Meter system integration impacts(5)
—
—
(0.01)
—
(0.01)
Total Special Items
0.02
(0.01)
(0.06)
(0.01)
(0.06)
Earnings from Ongoing Operations
$ 0.51
$ 0.43
$ 0.12
$ (0.10)
$ 0.96
(1)
Reported Earnings represents Net Income.
(2)
Costs associated with PPL's restructuring and rebuilding of its IT infrastructure, organization and systems. Kentucky Regulated received regulatory asset treatment for 2025 costs.
(3)
Certain collection process costs incurred due to the timing and implementation of the customer system integration.
(4)
Prior period impact of an ISO New England transmission rates return on equity reduction.
(5)
Prior period impact of a meter data system integration post transition services agreement.
(6)
Costs associated with an enterprise-wide safety transformation program.
Reconciliation of Segment Reported Earnings to Earnings from Ongoing Operations
(After-Tax)
(Unaudited)
2nd Quarter 2025
(millions of dollars)
KY
PA
RI
Corp.
Reg.
Reg.
Reg.
& Other
Total
Reported Earnings(1)
$ 126
$ 139
$ (17)
$ (65)
$ 183
Less: Special Items (expense) benefit:
Talen litigation costs, net of tax of ($1)(2)
—
—
—
4
4
Acquisition integration, net of tax of $4(3)
—
—
—
(13)
(13)
IT transformation, net of tax of $2, $1, $4(4)
(5)
—
(3)
(16)
(24)
Energy efficiency programs settlement(5)
—
—
2
—
2
Office relocation and related costs, net of tax of $0, $0(6)
(1)
(1)
—
—
(2)
Post TSA adjustments, net of tax of $7(7)
—
—
(24)
—
(24)
Total Special Items
(6)
(1)
(25)
(25)
(57)
Earnings from Ongoing Operations
$ 132
$ 140
$ 8
$ (40)
$ 240
(per share - diluted)
KY
PA
RI
Corp.
Reg.
Reg.
Reg.
& Other
Total
Reported Earnings(1)
$ 0.17
$ 0.19
$ (0.02)
$ (0.09)
$ 0.25
Less: Special Items (expense) benefit:
Talen litigation costs(2)
—
—
—
0.01
0.01
Acquisition integration(3)
—
—
—
(0.02)
(0.02)
IT transformation(4)
(0.01)
—
—
(0.02)
(0.03)
Post TSA adjustments(7)
—
—
(0.03)
—
(0.03)
Total Special Items
(0.01)
—
(0.03)
(0.03)
(0.07)
Earnings from Ongoing Operations
$ 0.18
$ 0.19
$ 0.01
$ (0.06)
$ 0.32
(1)
Reported Earnings represents Net Income.
(2)
PPL incurred legal expenses and received insurance reimbursement related to litigation associated with its former affiliate, Talen Montana, LLC and certain affiliated entities.
(3)
Primarily integration and related costs associated with the acquisition of Rhode Island Energy.
(4)
Costs associated with PPL's restructuring and rebuilding of its IT infrastructure, organization and systems.
(5)
Tax effect of costs associated with a settlement agreement regarding energy efficiency programs prior to PPL's acquisition of Rhode Island Energy.
(6)
Certain costs related to the relocation of corporate offices.
(7)
Adjustments related to account reconciliations and process alignment subsequent to the end of the transition services agreement associated with the acquisition of Rhode Island Energy.
Reconciliation of Segment Reported Earnings to Earnings from Ongoing Operations
(After-Tax)
(Unaudited)
Year-to-Date June 30, 2025
(millions of dollars)
KY
PA
RI
Corp.
Reg.
Reg.
Reg.
& Other
Total
Reported Earnings(1)
$ 349
$ 323
$ 53
$ (128)
$ 597
Less: Special Items (expense) benefit:
Talen litigation costs, net of tax of $1(2)
—
—
—
3
3
Acquisition integration, net of tax of ($2), $7(3)
—
—
7
(27)
(20)
IT transformation, net of tax of $2, $1, $7(4)
(6)
—
(4)
(26)
(36)
Energy efficiency programs settlement, net of tax of $2(5)
—
—
(6)
—
(6)
Office relocation and related costs, net of tax of $0, $0(6)
(2)
(2)
—
—
(4)
Post TSA adjustments, net of tax of $7(7)
—
—
(24)
—
(24)
Total Special Items
(8)
(2)
(27)
(50)
(87)
Earnings from Ongoing Operations
$ 357
$ 325
$ 80
$ (78)
$ 684
(per share - diluted)
KY
PA
RI
Corp.
Reg.
Reg.
Reg.
& Other
Total
Reported Earnings(1)
$ 0.47
$ 0.44
$ 0.07
$ (0.18)
$ 0.80
Less: Special Items (expense) benefit:
Acquisition integration(3)
—
—
0.01
(0.04)
(0.03)
IT transformation(4)
(0.01)
—
(0.01)
(0.03)
(0.05)
Energy efficiency programs settlement(5)
—
—
(0.01)
—
(0.01)
Post TSA adjustments(7)
—
—
(0.03)
—
(0.03)
Total Special Items
(0.01)
—
(0.04)
(0.07)
(0.12)
Earnings from Ongoing Operations
$ 0.48
$ 0.44
$ 0.11
$ (0.11)
$ 0.92
(1)
Reported Earnings represents Net Income.
(2)
PPL incurred legal expenses and received insurance reimbursement related to litigation associated with its former affiliate, Talen Montana, LLC and certain affiliated entities.
(3)
Rhode Island Regulated primarily includes a transition services settlement agreement. Corporate and Other primarily includes integration and related costs associated with the acquisition of Rhode Island Energy.
(4)
Costs associated with PPL's restructuring and rebuilding of its IT infrastructure, organization and systems.
(5)
Costs associated with a settlement agreement regarding energy efficiency programs prior to PPL's acquisition of Rhode Island Energy.
(6)
Certain costs related to the relocation of corporate offices.
(7)
Adjustments related to account reconciliations and process alignment subsequent to the end of the transition services agreement associated with the acquisition of Rhode Island Energy.
Reconciliation of PPL's Earnings Forecast
After-Tax (Unaudited)
(per share - diluted)
2026 Forecast Range
Midpoint
High
Low
Estimate of Reported Earnings
$ 1.88
$ 1.92
$ 1.84
Less: Special Items (expense) benefit:(1)
Customer system integration impacts(2)
(0.02)
(0.02)
(0.02)
ISO-NE transmission rates ROE reduction(3)
(0.03)
(0.03)
(0.03)
Meter system integration impacts(4)
(0.01)
(0.01)
(0.01)
Total Special Items
(0.06)
(0.06)
(0.06)
Forecast of Earnings from Ongoing Operations
$ 1.94
$ 1.98
$ 1.90
(1)
Reflects only special items recorded through June 30, 2026. PPL is not able to forecast special items for future periods.
(2)
Certain collection process costs incurred due to the timing and implementation of the customer system integration.
(3)
Prior period impact of an ISO New England transmission rates return on equity reduction.
(4)
Prior period impact of a meter data system integration post transition services agreement.
Contacts:
For news media: Ryan Hill, 610-774-4033
For financial analysts: Andy Ludwig, 610-774-3389
PPL Corporation (NYSE:PPL) will release its second quarter earnings report before the opening bell on Friday, Aug. 7.
Analysts expect the Allentown, Pennsylvania-based company to report quarterly earnings of 34 cents per share, up from 32 cents per share in the year-ago period. The consensus estimate for PPL’s quarterly revenue is $2.21 billion. It reported $2.02 billion last year, according to Benzinga Pro.
On May 8, PPL posted better-than-expected earnings for the first quarter.
PPL shares fell 0.9% to close at $34.62 on Thursday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
BMO Capital analyst James Thalacker maintained an Outperform rating and raised the price target from $39 to $40 on July 22, 2026. This analyst has an accuracy rate of 72%. B of A Securities analyst Ross Fowler maintained a Buy rating and cut the price target from $42 to $39 on July 20, 2026. This analyst has an accuracy rate of 62%. JP Morgan analyst Jeremy Tonet maintained an Overweight rating and boosted the price target from $42 to $45 on July 16, 2026. This analyst has an accuracy rate of 64%. Barclays analyst Michael Lonegan maintained an Overweight rating and raised the price target from $39 to $41 on July 14, 2026. This analyst has an accuracy rate of 55%. Mizuho analyst Anthony Crowdell maintained a Neutral rating and cut the price target from $38 to $37 on June 5, 2026. This analyst has an accuracy rate of 66%. Considering buying PPL stock? Here’s what analysts think:
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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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PPL (PPL - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The earnings report, which is expected to be released on August 7, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis energy and utility holding company is expected to post quarterly earnings of $0.35 per share in its upcoming report, which represents a year-over-year change of +9.4%.
Revenues are expected to be $2.18 billion, up 7.5% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.76% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for PPL?For PPL, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -1.73%.
On the other hand, the stock currently carries a Zacks Rank of #4.
So, this combination makes it difficult to conclusively predict that PPL will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that PPL would post earnings of $0.61 per share when it actually produced earnings of $0.63, delivering a surprise of +3.28%.
Over the last four quarters, the company has beaten consensus EPS estimates two times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
PPL doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Expected Results of an Industry PlayerNiSource (NI - Free Report) , another stock in the Zacks Utility - Electric Power industry, is expected to report earnings per share of $0.15 for the quarter ended June 2026. This estimate points to a year-over-year change of -31.8%. Revenues for the quarter are expected to be $1.33 billion, up 3.9% from the year-ago quarter.
Over the last 30 days, the consensus EPS estimate for NiSource has been revised 1.6% up to the current level. Nevertheless, the company now has an Earnings ESP of 0.00%, reflecting an equal Most Accurate Estimate.
This Earnings ESP, combined with its Zacks Rank #3 (Hold), makes it difficult to conclusively predict that NiSource will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
PPL (PPL - Free Report) closed at $35.70 in the latest trading session, marking a -1.73% move from the prior day. The stock's change was less than the S&P 500's daily loss of 1.52%. At the same time, the Dow lost 2.19%, and the tech-heavy Nasdaq lost 1.74%.
The stock of energy and utility holding company has fallen by 0.06% in the past month, leading the Utilities sector's loss of 1.87% and undershooting the S&P 500's gain of 1.92%.
The upcoming earnings release of PPL will be of great interest to investors. The company's earnings report is expected on August 7, 2026. On that day, PPL is projected to report earnings of $0.35 per share, which would represent year-over-year growth of 9.38%. Meanwhile, the latest consensus estimate predicts the revenue to be $2.18 billion, indicating a 7.5% increase compared to the same quarter of the previous year.
PPL's full-year Zacks Consensus Estimates are calling for earnings of $1.94 per share and revenue of $9.78 billion. These results would represent year-over-year changes of +7.18% and +8.21%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for PPL. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 0.23% fall in the Zacks Consensus EPS estimate. As of now, PPL holds a Zacks Rank of #4 (Sell).
In terms of valuation, PPL is presently being traded at a Forward P/E ratio of 18.69. This valuation marks a premium compared to its industry average Forward P/E of 18.38.
Investors should also note that PPL has a PEG ratio of 2.48 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Utility - Electric Power stocks are, on average, holding a PEG ratio of 2.73 based on yesterday's closing prices.
The Utility - Electric Power industry is part of the Utilities sector. With its current Zacks Industry Rank of 168, this industry ranks in the bottom 32% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
, /PRNewswire/ -- PPL Corporation today announced it has signed the White House's Ratepayer Protection Pledge, reaffirming the company's long-standing commitment to affordability, reliability and responsible growth.
The pledge, previously signed by many of the nation's largest technology companies, defines voluntary principles to help ensure that data centers appropriately fund energy and infrastructure associated with serving them and that existing customers are protected as demand grows.
"The customer-protection principles reflected in the Ratepayer Protection Pledge are consistent with our approach to responsible growth," said Vincent Sorgi, president and chief executive officer of PPL Corporation.
"In fact, PPL and its utilities were early movers in establishing new rate classes and regulator-approved, enforceable tariffs designed to protect existing customers and help ensure that large energy users, including data centers, pay their fair share of the costs of infrastructure needed to serve them," said Sorgi.
"Ultimately, we believe economic growth and customer protection can go hand in hand, and this pledge reflects that important balance."
Advancing customer protections
PPL believes many of the principles reflected in the Ratepayer Protection Pledge are already embedded in regulator-approved tariffs and rate structures serving large energy users in its Pennsylvania and Kentucky service territories.
In Pennsylvania, PPL Electric Utilities' recently approved LP-6 rate establishes protections ─ including long-term service commitments, minimum billing obligations, revenue protections, up-front payments for directly assignable upgrades, financial security requirements and other measures ─ all designed to ensure costs associated with new demand are paid by customers creating that demand and not shifted to others.
Louisville Gas and Electric Company and Kentucky Utilities Company earlier this year implemented similar regulator-approved customer protections through their Extremely High Load Factor (EHLF) tariff.
As data centers and other large-load customers connect under these enforceable commitments, they can improve system utilization and potentially lower costs for non-data center customers over time.
These approaches demonstrate how economic growth, customer protection and infrastructure investment can advance together through regulator-approved, enforceable mechanisms tailored to the needs of individual states and electric systems.
Supporting needed infrastructure
Apart from establishing enforceable protections around cost allocation, PPL's utilities are also very focused on protecting grid reliability.
Large customer connections are planned carefully, detailed engineering and reliability studies are completed up front, high-demand interconnections are subject to regulatory oversight, and any necessary upgrades are made before service begins, helping to ensure the grid remains safe and reliable for all customers.
Additional generation resources will also be needed to support economic growth, strengthen national security, maintain reliability and promote long-term customer affordability. This is why PPL has consistently advocated for policies that encourage investment in new generation resources and energy infrastructure while helping to ensure the costs of serving new demand are appropriately assigned.
It's also why PPL created its joint venture with Blackstone Infrastructure ─ to build, own and operate new generation resources needed to serve new data center demand in PJM, particularly in Pennsylvania. The initiative is intended to support reliability, power economic development and help improve the supply-demand balance across the region in an effort to reduce upward pressure on wholesale electricity prices over time.
Powering demand that's critical to our nation's economy
PPL recognizes that data centers are an essential part of modern life, supporting everything from digital services and business operations to innovation, economic competitiveness and national security. The company's role is to serve this new demand in a way that maintains reliability, protects customers and supports the communities it serves.
"At PPL, we are focused on supporting data center growth the right way," said Sorgi. "Reliability comes first. Growth pays for growth. Costs are fair and transparent. Infrastructure is planned with discipline and purpose. And decisions are grounded in clear, coordinated planning.
"Ultimately, we believe this growth can deliver significant long-term benefits to the communities we serve. Moving forward, we will continue working with regulators, policymakers and local stakeholders to meet these growing energy needs while keeping energy safe, reliable and affordable for our customers."
About PPL
PPL Corporation (NYSE: PPL), headquartered in Allentown, Pennsylvania, is a leading U.S. energy company focused on providing electricity and natural gas safely, reliably and affordably to more than 3.6 million customers in the U.S. PPL's high-performing, award-winning utilities are addressing energy challenges head-on by building smarter, more resilient and more dynamic power grids and advancing sustainable energy solutions. For more information, visit www.pplweb.com.
PPL (PPL - Free Report) closed the most recent trading day at $36.10, moving +1.95% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.14%. Meanwhile, the Dow lost 0.01%, and the Nasdaq, a tech-heavy index, lost 0.57%.
Prior to today's trading, shares of the energy and utility holding company had lost 2.42% lagged the Utilities sector's gain of 0.68% and the S&P 500's gain of 0.25%.
Investors will be eagerly watching for the performance of PPL in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 7, 2026. The company's upcoming EPS is projected at $0.35, signifying a 9.38% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.18 billion, indicating a 7.5% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.94 per share and revenue of $9.78 billion. These totals would mark changes of +7.18% and +8.21%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for PPL. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.22% downward. PPL presently features a Zacks Rank of #4 (Sell).
In terms of valuation, PPL is currently trading at a Forward P/E ratio of 18.21. This indicates a premium in contrast to its industry's Forward P/E of 18.02.
One should further note that PPL currently holds a PEG ratio of 2.42. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Utility - Electric Power industry stood at 2.66 at the close of the market yesterday.
The Utility - Electric Power industry is part of the Utilities sector. At present, this industry carries a Zacks Industry Rank of 102, placing it within the top 42% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
