PPL Corporation (PPL - Free Report) delivered fourth-quarter 2018 adjusted earnings per share (EPS) of 57 cents, which beat the Zacks Consensus Estimate of 53 cents by 7.5%. The figure improved 9.6% year over year, primarily due to higher earnings in the Pennsylvania and Kentucky Regulated segments.
On a GAAP basis, the company generated EPS of 48 cents compared with 57 cents in the year-ago quarter.
In 2019, the company delivered adjusted earnings of $2.45 per share, up 2% from $2.40 in 2018.
Total Revenues
PPL Corp posted revenues of $1,954 million in the fourth quarter, which inched up 0.8% year over year.
In 2019, the company posted revenues of $7,769 million down 0.2% from $7,785 million in 2018.
Segment Results
U.K. Regulated: Adjusted earnings increased 9.4% from the prior-year quarter’s tally to 35 cents per share. The upside was primarily supported by higher prices and higher pension income.
Kentucky Regulated: Adjusted earnings were 10 cents, down from 11 cents in the year-ago quarter. The decline was primarily caused by higher operation and maintenance expenses, lower sales volumes primarily due to weather, higher depreciation expenses and higher interest expenses.
Pennsylvania Regulated: Adjusted earnings improved 23% from the prior-year quarter’s tally to 16 cents. The results benefited from returns on additional capital investments in transmission as well as lower operation and maintenance expenses.
Corporate and Other: The segment reported a loss of 4 cents in the quarter, which was in line with the prior-year quarter’s figure.
Operational Highlights
PPL Corp’s total operating expenses inched down 1.6% year over year to $ 1,261 million in the reported quarter.
The company reported operating income of $693 million, up 5.5% than $657 million in the prior-year quarter.
Interest expenses inched up 1.2% to $248 million from the year-ago quarter’s tally of $245 million.
Financial Position
As of Dec 31, 2019, the company had cash and cash equivalents of $815 million compared with $621 million as of Dec 31, 2018.
Long-term debt (excluding debts due within a year) was $20,721 million as of Dec 31, 2019 compared with $20,069 million at the end of 2018.
Net cash flow from operating activities at the end of 2019 was $2,427 million compared with $2,821 million in 2018.
Guidance
PPL Corp announced guidance for 2020 EPS from ongoing operations in the range of $2.40-$2.60 with a midpoint of $2.50, which is lower than the Zacks Consensus Estimate of $2.54.
The company also updated its 2021 EPS guidance in the range of $2.40 -$2.60 per share from the prior range of $2.50- $2.80, reflecting lower expected foreign currency exchange rate forecasts.
Zacks Rank
Currently, PPL Corp carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
FirstEnergy Corporation (FE - Free Report) released fourth-quarter 2019 operating earnings of 55 cents per share, which beat the Zacks Consensus Estimate of 48 cents by 14.6%.
Dominion Energy Inc. (D - Free Report) reported fourth-quarter 2019 operating earnings of $1.18 per share, which beat the Zacks Consensus Estimate of $1.16 by 1.7%.
Exelon Corporation’s (EXC - Free Report) fourth-quarter 2019 operating earnings of 83 cents per share, which surpassed the Zacks Consensus Estimate of 73 cents by 13.6%.
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PPL Corporation (PPL - Free Report) delivered fourth-quarter 2018 adjusted earnings per share (EPS) of 57 cents, which beat the Zacks Consensus Estimate of 53 cents by 7.5%. The figure improved 9.6% year over year, primarily due to higher earnings in the Pennsylvania and Kentucky Regulated segments.
On a GAAP basis, the company generated EPS of 48 cents compared with 57 cents in the year-ago quarter.
In 2019, the company delivered adjusted earnings of $2.45 per share, up 2% from $2.40 in 2018.
Total Revenues
PPL Corp posted revenues of $1,954 million in the fourth quarter, which inched up 0.8% year over year.
In 2019, the company posted revenues of $7,769 million down 0.2% from $7,785 million in 2018.
Segment Results
U.K. Regulated: Adjusted earnings increased 9.4% from the prior-year quarter’s tally to 35 cents per share. The upside was primarily supported by higher prices and higher pension income.
Kentucky Regulated: Adjusted earnings were 10 cents, down from 11 cents in the year-ago quarter. The decline was primarily caused by higher operation and maintenance expenses, lower sales volumes primarily due to weather, higher depreciation expenses and higher interest expenses.
Pennsylvania Regulated: Adjusted earnings improved 23% from the prior-year quarter’s tally to 16 cents. The results benefited from returns on additional capital investments in transmission as well as lower operation and maintenance expenses.
Corporate and Other: The segment reported a loss of 4 cents in the quarter, which was in line with the prior-year quarter’s figure.
Operational Highlights
PPL Corp’s total operating expenses inched down 1.6% year over year to $ 1,261 million in the reported quarter.
The company reported operating income of $693 million, up 5.5% than $657 million in the prior-year quarter.
Interest expenses inched up 1.2% to $248 million from the year-ago quarter’s tally of $245 million.
Financial Position
As of Dec 31, 2019, the company had cash and cash equivalents of $815 million compared with $621 million as of Dec 31, 2018.
Long-term debt (excluding debts due within a year) was $20,721 million as of Dec 31, 2019 compared with $20,069 million at the end of 2018.
Net cash flow from operating activities at the end of 2019 was $2,427 million compared with $2,821 million in 2018.
Guidance
PPL Corp announced guidance for 2020 EPS from ongoing operations in the range of $2.40-$2.60 with a midpoint of $2.50, which is lower than the Zacks Consensus Estimate of $2.54.
The company also updated its 2021 EPS guidance in the range of $2.40 -$2.60 per share from the prior range of $2.50- $2.80, reflecting lower expected foreign currency exchange rate forecasts.
Zacks Rank
Currently, PPL Corp carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
FirstEnergy Corporation (FE - Free Report) released fourth-quarter 2019 operating earnings of 55 cents per share, which beat the Zacks Consensus Estimate of 48 cents by 14.6%.
Dominion Energy Inc. (D - Free Report) reported fourth-quarter 2019 operating earnings of $1.18 per share, which beat the Zacks Consensus Estimate of $1.16 by 1.7%.
Exelon Corporation’s (EXC - Free Report) fourth-quarter 2019 operating earnings of 83 cents per share, which surpassed the Zacks Consensus Estimate of 73 cents by 13.6%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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