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PPL (PPL) Earnings Miss Estimates, Revenues Beat in Q4
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PPL Corporation (PPL - Free Report) reported fourth-quarter 2021 operating earnings per share (EPS) of 22 cents, which missed the Zacks Consensus Estimate of 30 cents by 27%. The bottom line also narrowed 4.3% from the year-ago earnings of 23 cents per share.
On a GAAP basis, PPL Corporation recorded EPS of 18 cents compared with 38 cents in the year-ago quarter.
PPL Corporation reported operating EPS of $1.05 in 2021, up 5% from $1.00 in 2020.
Revenues
Total revenues of $1,485 million surpassed the Zacks Consensus Estimate of $1,435 million by 3.5%. The top line improved 8.3% from the year-ago figure of $1,371 million.
PPL Corporation reported total revenues of $5,783 million in 2021, up 6% from $5,474 million in 2020.
Total operating expenses for the fourth quarter amounted to $1,177 million, up 19% from the year-ago quarter’s $993 million, due to an increase in other operating and maintenance expenses by 21.3%.
Operating income was $308 million, down 19% from the year-ago figure of $378 million.
Interest expenses were $108 million, down 30% from the year-ago figure of $155 million.
Segment Update
Kentucky Regulated: Adjusted earnings were 11 cents per share, on par with the year-ago quarter’s figure.
Pennsylvania Regulated: Adjusted earnings were 15 cents per share, down 6.3% from the year-ago quarter’s figure.
Corporate and Other: The segment incurred a loss of 4 cents per share for the quarter, on par with the year-ago quarter’s figure.
Financial Position
As of Dec 31, 2021, PPL had cash and cash equivalents of $3,571 million compared with $442 million on Dec 31, 2020.
Long-term debt was $10,666 million as of Dec 31, 2021 compared with $13,615 million as of Dec 31, 2020.
Net cash provided by operating activities in 2021 was $2,270 million compared with $2,746 million in 2020.
PPL Corporation announced the completion of the targeted $1 billion in share repurchases through Dec 31, 2021.
American Electric Power (AEP - Free Report) is slated to report fourth-quarter 2021 earnings on Feb 24 before market open. The Zacks Consensus Estimate for the fourth quarter’s EPS is pegged at 94 cents.
American Electric Power’s long-term (three to five years) earnings growth is currently pegged at 5.65%. The Zacks Consensus Estimate for AEP’s 2022 earnings implies year-over-year growth of 6.17%.
Entergy Corp. (ETR - Free Report) is slated to report fourth-quarter 2021 earnings on Feb 23 before market open. The Zacks Consensus Estimate for the fourth quarter’s EPS is pegged at 70 cents.
Entergy’s long-term earnings growth is currently pegged at 1.00%. The Zacks Consensus Estimate for ETR’s 2022 earnings implies year-over-year growth of 5.85%.
Algonquin Power & Utilities (AQN - Free Report) is slated to report fourth-quarter 2021 earnings on Mar 3 after market close. The Zacks Consensus Estimate for the fourth quarter’s EPS is pegged at 21 cents.
Algonquin Power & Utilities’ long-term earnings growth is currently pegged at 8.67%. The Zacks Consensus Estimate for AQN’s 2022 earnings implies year-over-year growth of 4.51%.
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PPL (PPL) Earnings Miss Estimates, Revenues Beat in Q4
PPL Corporation (PPL - Free Report) reported fourth-quarter 2021 operating earnings per share (EPS) of 22 cents, which missed the Zacks Consensus Estimate of 30 cents by 27%. The bottom line also narrowed 4.3% from the year-ago earnings of 23 cents per share.
On a GAAP basis, PPL Corporation recorded EPS of 18 cents compared with 38 cents in the year-ago quarter.
PPL Corporation reported operating EPS of $1.05 in 2021, up 5% from $1.00 in 2020.
Revenues
Total revenues of $1,485 million surpassed the Zacks Consensus Estimate of $1,435 million by 3.5%. The top line improved 8.3% from the year-ago figure of $1,371 million.
PPL Corporation reported total revenues of $5,783 million in 2021, up 6% from $5,474 million in 2020.
PPL Corporation Price, Consensus and EPS Surprise
PPL Corporation price-consensus-eps-surprise-chart | PPL Corporation Quote
Highlights of the Release
Total operating expenses for the fourth quarter amounted to $1,177 million, up 19% from the year-ago quarter’s $993 million, due to an increase in other operating and maintenance expenses by 21.3%.
Operating income was $308 million, down 19% from the year-ago figure of $378 million.
Interest expenses were $108 million, down 30% from the year-ago figure of $155 million.
Segment Update
Kentucky Regulated: Adjusted earnings were 11 cents per share, on par with the year-ago quarter’s figure.
Pennsylvania Regulated: Adjusted earnings were 15 cents per share, down 6.3% from the year-ago quarter’s figure.
Corporate and Other: The segment incurred a loss of 4 cents per share for the quarter, on par with the year-ago quarter’s figure.
Financial Position
As of Dec 31, 2021, PPL had cash and cash equivalents of $3,571 million compared with $442 million on Dec 31, 2020.
Long-term debt was $10,666 million as of Dec 31, 2021 compared with $13,615 million as of Dec 31, 2020.
Net cash provided by operating activities in 2021 was $2,270 million compared with $2,746 million in 2020.
PPL Corporation announced the completion of the targeted $1 billion in share repurchases through Dec 31, 2021.
Zacks Rank
PPL Corporation currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
American Electric Power (AEP - Free Report) is slated to report fourth-quarter 2021 earnings on Feb 24 before market open. The Zacks Consensus Estimate for the fourth quarter’s EPS is pegged at 94 cents.
American Electric Power’s long-term (three to five years) earnings growth is currently pegged at 5.65%. The Zacks Consensus Estimate for AEP’s 2022 earnings implies year-over-year growth of 6.17%.
Entergy Corp. (ETR - Free Report) is slated to report fourth-quarter 2021 earnings on Feb 23 before market open. The Zacks Consensus Estimate for the fourth quarter’s EPS is pegged at 70 cents.
Entergy’s long-term earnings growth is currently pegged at 1.00%. The Zacks Consensus Estimate for ETR’s 2022 earnings implies year-over-year growth of 5.85%.
Algonquin Power & Utilities (AQN - Free Report) is slated to report fourth-quarter 2021 earnings on Mar 3 after market close. The Zacks Consensus Estimate for the fourth quarter’s EPS is pegged at 21 cents.
Algonquin Power & Utilities’ long-term earnings growth is currently pegged at 8.67%. The Zacks Consensus Estimate for AQN’s 2022 earnings implies year-over-year growth of 4.51%.