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PPL Corporation's (PPL) Q4 Earnings In Line, Revenues Beat Estimates
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PPL Corporation (PPL - Free Report) reported fourth-quarter 2022 operating earnings per share (EPS) of 28 cents, which were on par with the Zacks Consensus Estimate. The bottom line also improved 21.4% from the year-ago figure of 22 cents.
On a GAAP basis, PPL Corporation recorded an EPS of 26 cents compared with 18 cents in the year-ago quarter.
For 2022, PPL reported operating EPS of $1.41, up 34% from $1.05 in 2021.
Revenues
In the fourth quarter, PPL reported total revenues of $2,290 million, which surpassed the Zacks Consensus Estimate of $1,587 million by 44.3%. The top line improved 54.2% from the year-ago figure of $1,485 million.
PPL’s 2022 revenues totaled $7,902 million compared with $5,783 million in 2021.
Total operating expenses for the fourth quarter amounted to $1,954 million, up 66% from the year-ago quarter’s $1,177 million. This improvement was due to an increase in other operating and maintenance expenses and a surge in fuel and energy purchases.
The operating income was $336 million, up 9.1% from the year-ago figure of $308 million.
Interest expenses were $152 million, up 40.7% from the year-ago figure of $108 million.
Segmental Updates
Kentucky Regulated: Adjusted earnings were 10 cents per share, down 9.1% from the year-ago quarter’s figure of 11 cents.
Pennsylvania Regulated: Adjusted earnings were 16 cents per share, up 6.67% from the year-ago quarter’s figure.
Rhode Island Regulated: Adjusted earnings for the fourth-quarter were 3 cents per share.
Corporate and Other: The segment incurred a loss of a cent per share for the quarter, narrower than the year-ago quarter’s loss of 4 cents per share.
Financial Position
As of Dec 31, 2022, PPL had cash and cash equivalents of $356 million compared with $3,571 million on Dec 31, 2021.
The long-term debt was $12,889 million as of Dec 31, 2022 compared with $10,666 million as of Dec 31, 2021.
Net cash provided by operating activities in 2022 was $1,730 million compared with $2,270 million in 2021.
Guidance
PPL reaffirmed its 2023 earnings forecast range of $1.5 to $1.65 per share, with a midpoint of $1.58 per share. The Zacks Consensus Estimate for 2023 earnings of $1.6 per share, 2 cents higher than the midpoint.
DTE Energy (DTE - Free Report) is scheduled to report fourth-quarter results on Feb 23, before market open. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.22 per share, indicating a year-over-year increase of 16.2%.
DTE’s long-term (three to five years) earnings growth is currently pegged at 6%. The Zacks Consensus Estimate for 2023 EPS is $6.23, implying a year-over-year increase of 3.75%.
Alliant Energy Corporation (LNT - Free Report) is scheduled to report fourth-quarter results on Feb 23, after market close. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 48 cents per share, indicating a year-over-year increase of 37.14%.
LNT’s long-term earnings growth is currently pegged at 5.84%. The Zacks Consensus Estimate for 2023 EPS is $2.9, implying a year-over-year increase of 4.12%.
Primo Water Corporation (PRMW - Free Report) is slated to report fourth-quarter results on Feb 23, before market open. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 17 cents per share, implying a year-over-year increase of 54.6%.
The Zacks Consensus Estimate for 2023 EPS is 82 cents, implying a year-over-year increase of 19.5%. PRMW delivered an average earnings surprise of 7.98% in the last four quarters.
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PPL Corporation's (PPL) Q4 Earnings In Line, Revenues Beat Estimates
PPL Corporation (PPL - Free Report) reported fourth-quarter 2022 operating earnings per share (EPS) of 28 cents, which were on par with the Zacks Consensus Estimate. The bottom line also improved 21.4% from the year-ago figure of 22 cents.
On a GAAP basis, PPL Corporation recorded an EPS of 26 cents compared with 18 cents in the year-ago quarter.
For 2022, PPL reported operating EPS of $1.41, up 34% from $1.05 in 2021.
Revenues
In the fourth quarter, PPL reported total revenues of $2,290 million, which surpassed the Zacks Consensus Estimate of $1,587 million by 44.3%. The top line improved 54.2% from the year-ago figure of $1,485 million.
PPL’s 2022 revenues totaled $7,902 million compared with $5,783 million in 2021.
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 $1,954 million, up 66% from the year-ago quarter’s $1,177 million. This improvement was due to an increase in other operating and maintenance expenses and a surge in fuel and energy purchases.
The operating income was $336 million, up 9.1% from the year-ago figure of $308 million.
Interest expenses were $152 million, up 40.7% from the year-ago figure of $108 million.
Segmental Updates
Kentucky Regulated: Adjusted earnings were 10 cents per share, down 9.1% from the year-ago quarter’s figure of 11 cents.
Pennsylvania Regulated: Adjusted earnings were 16 cents per share, up 6.67% from the year-ago quarter’s figure.
Rhode Island Regulated: Adjusted earnings for the fourth-quarter were 3 cents per share.
Corporate and Other: The segment incurred a loss of a cent per share for the quarter, narrower than the year-ago quarter’s loss of 4 cents per share.
Financial Position
As of Dec 31, 2022, PPL had cash and cash equivalents of $356 million compared with $3,571 million on Dec 31, 2021.
The long-term debt was $12,889 million as of Dec 31, 2022 compared with $10,666 million as of Dec 31, 2021.
Net cash provided by operating activities in 2022 was $1,730 million compared with $2,270 million in 2021.
Guidance
PPL reaffirmed its 2023 earnings forecast range of $1.5 to $1.65 per share, with a midpoint of $1.58 per share. The Zacks Consensus Estimate for 2023 earnings of $1.6 per share, 2 cents higher than the midpoint.
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.
Other Upcoming Releases
DTE Energy (DTE - Free Report) is scheduled to report fourth-quarter results on Feb 23, before market open. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.22 per share, indicating a year-over-year increase of 16.2%.
DTE’s long-term (three to five years) earnings growth is currently pegged at 6%. The Zacks Consensus Estimate for 2023 EPS is $6.23, implying a year-over-year increase of 3.75%.
Alliant Energy Corporation (LNT - Free Report) is scheduled to report fourth-quarter results on Feb 23, after market close. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 48 cents per share, indicating a year-over-year increase of 37.14%.
LNT’s long-term earnings growth is currently pegged at 5.84%. The Zacks Consensus Estimate for 2023 EPS is $2.9, implying a year-over-year increase of 4.12%.
Primo Water Corporation (PRMW - Free Report) is slated to report fourth-quarter results on Feb 23, before market open. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 17 cents per share, implying a year-over-year increase of 54.6%.
The Zacks Consensus Estimate for 2023 EPS is 82 cents, implying a year-over-year increase of 19.5%. PRMW delivered an average earnings surprise of 7.98% in the last four quarters.