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PPL's Earnings and Revenues Outperform Estimates in Q1
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PPL Corporation (PPL - Free Report) reported first-quarter 2022 operating earnings per share (EPS) of 41 cents, which surpassed the Zacks Consensus Estimate of 40 cents by a penny. The bottom line also improved by 46.4% from the year-ago earnings of 28 cents per share.
On a GAAP basis, PPL Corporation recorded an EPS of 37 cents against a loss of $2.39 in the year-ago quarter.
Revenues
Total revenues of $1,782 million surpassed the Zacks Consensus Estimate of $1,598 million by 11.5%. The top line improved by 19% from the year-ago figure of $1,498 million.
Total operating expenses for the first quarter amounted to $1,328 million, up 22.6% from the year-ago quarter’s $1,083 million, due to an increase in other operating and maintenance expenses by 18%.
Operating income was $454 million, up 9.4% from the year-ago figure of $415 million.
Interest expenses were $107 million, down 30% from the year-ago figure of $153 million.
Segment Update
Kentucky Regulated: Adjusted earnings were 25 cents per share, up 38.9% from the year-ago quarter’s figure.
Pennsylvania Regulated: Adjusted earnings were 19 cents per share, up 18.8% from the year-ago quarter’s figure.
Corporate and Other: The segment incurred a loss of 3 cents per share for the quarter, lower than the year-ago quarter’s loss of 6 cents.
Financial Position
As of Mar 31, 2022, PPL had cash and cash equivalents of $4,249 million compared with $3,571 million on Dec 31, 2021.
The long-term debt was $10,668 million as of Mar 31, 2022 compared with $10,666 million as of Dec 31, 2021.
Net cash provided by operating activities in the first three months of 2022 was $502 million compared with $663 million in the year-ago quarter.
Duke Energy (DUK - Free Report) is set to release first-quarter 2022 results on May 9 before market open. The Zacks Consensus Estimate for EPS is pegged at $1.37.
Duke Energy’s long-term earnings growth is projected at 6.2%. The Zacks Consensus Estimate for DUK’s 2022 EPS indicates year-over-year growth of 4.2%.
Hawaiian Electric Industries (HE - Free Report) is scheduled to announce first-quarter 2022 results on May 9 after market close. The Zacks Consensus Estimate for earnings is pegged at 42 cents per share.
Hawaiian Electric Industries’ long-term earnings growth is projected at 3.2%. The Zacks Consensus Estimate for HE’s 2023 EPS suggests year-over-year growth of 6%.
Algonquin Power & Utilities (AQN - Free Report) is set to release first-quarter 2022 results on May 12 after market close. The Zacks Consensus Estimate for EPS is pegged at 23 cents.
Algonquin Power & Utilities’ long-term (three to five years) earnings growth is projected at 8.1%. The Zacks Consensus Estimate for AQN’s 2022 EPS indicates year-over-year growth of 5.6%.
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PPL's Earnings and Revenues Outperform Estimates in Q1
PPL Corporation (PPL - Free Report) reported first-quarter 2022 operating earnings per share (EPS) of 41 cents, which surpassed the Zacks Consensus Estimate of 40 cents by a penny. The bottom line also improved by 46.4% from the year-ago earnings of 28 cents per share.
On a GAAP basis, PPL Corporation recorded an EPS of 37 cents against a loss of $2.39 in the year-ago quarter.
Revenues
Total revenues of $1,782 million surpassed the Zacks Consensus Estimate of $1,598 million by 11.5%. The top line improved by 19% from the year-ago figure of $1,498 million.
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 first quarter amounted to $1,328 million, up 22.6% from the year-ago quarter’s $1,083 million, due to an increase in other operating and maintenance expenses by 18%.
Operating income was $454 million, up 9.4% from the year-ago figure of $415 million.
Interest expenses were $107 million, down 30% from the year-ago figure of $153 million.
Segment Update
Kentucky Regulated: Adjusted earnings were 25 cents per share, up 38.9% from the year-ago quarter’s figure.
Pennsylvania Regulated: Adjusted earnings were 19 cents per share, up 18.8% from the year-ago quarter’s figure.
Corporate and Other: The segment incurred a loss of 3 cents per share for the quarter, lower than the year-ago quarter’s loss of 6 cents.
Financial Position
As of Mar 31, 2022, PPL had cash and cash equivalents of $4,249 million compared with $3,571 million on Dec 31, 2021.
The long-term debt was $10,668 million as of Mar 31, 2022 compared with $10,666 million as of Dec 31, 2021.
Net cash provided by operating activities in the first three months of 2022 was $502 million compared with $663 million in the year-ago quarter.
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
Duke Energy (DUK - Free Report) is set to release first-quarter 2022 results on May 9 before market open. The Zacks Consensus Estimate for EPS is pegged at $1.37.
Duke Energy’s long-term earnings growth is projected at 6.2%. The Zacks Consensus Estimate for DUK’s 2022 EPS indicates year-over-year growth of 4.2%.
Hawaiian Electric Industries (HE - Free Report) is scheduled to announce first-quarter 2022 results on May 9 after market close. The Zacks Consensus Estimate for earnings is pegged at 42 cents per share.
Hawaiian Electric Industries’ long-term earnings growth is projected at 3.2%. The Zacks Consensus Estimate for HE’s 2023 EPS suggests year-over-year growth of 6%.
Algonquin Power & Utilities (AQN - Free Report) is set to release first-quarter 2022 results on May 12 after market close. The Zacks Consensus Estimate for EPS is pegged at 23 cents.
Algonquin Power & Utilities’ long-term (three to five years) earnings growth is projected at 8.1%. The Zacks Consensus Estimate for AQN’s 2022 EPS indicates year-over-year growth of 5.6%.