We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
PPL Corporation's (PPL) Q4 Earnings In Line, Revenues Beat Estimates
Read MoreHide Full Article
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.
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
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.