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PPL Corporation (PPL - Free Report) reported first-quarter 2025 operating earnings per share (EPS) of 60 cents, which surpassed the Zacks Consensus Estimate of 53 cents by 13.2%. In the year-ago quarter, earnings were 54 cents per share. (See the Zacks Earnings Calendar to stay ahead of market-making news)
On a GAAP basis, PPL recorded EPS of 56 cents compared with 42 cents in the year-ago quarter.
PPL’s Revenues
Total revenues of $2.50 billion surpassed the Zacks Consensus Estimate of $2.39 billion by 4.8%. The top line also increased 8.7% from the year-ago figure of $2.30 billion.
In the first quarter, the company sold 18,386 gigawatt hours of electricity to its customers in Pennsylvania and Kentucky, reflecting 6.6% year-over-year growth.
Total operating expenses were $1.83 billion, up 4% from the year-ago quarter’s $1.76 billion. This was due to an increase in fuel and energy purchases.
Operating income totaled $678 million, up 24.4% from the year-ago figure of $545 million.
Interest expenses amounted to $190 million, up 6.1% from $179 million in the corresponding period of 2024.
PPL’s Segmental Updates
Pennsylvania Regulated: Adjusted EPS was 25 cents, up 13.6% from the year-ago figure of 22 cents.
Kentucky Regulated: Adjusted EPS was 30 cents, up 20% from the year-ago figure of 25 cents.
Rhode Island Regulated: Adjusted EPS was 10 cents, down 9.1% from the year-ago figure of 11 cents. Lower distribution and transmission revenues and other factors affected earnings.
Corporate and Other: The segment incurred a loss of 5 cents per share compared with a loss of 4 cents in the year-ago quarter.
PPL’s Financial Position
As of March 31, 2025, PPL had cash and cash equivalents of $312 million compared with $306 million as of Dec. 31, 2024.
The long-term debt was $15.94 billion as of March 31, 2025, compared with $15.95 billion as of Dec. 31, 2024.
Net cash provided by operating activities in the first quarter was $513 million compared with $282 million in the year-ago quarter.
PPL’s Guidance
PPL reaffirmed its 2025 earnings projection in the range of $1.75-$1.87 per share. The Zacks Consensus Estimate is pegged at $1.82 per share, higher than the midpoint of the company’s guided range. The company reaffirmed its long-term annual earnings growth rate of 6-8% through 2028.
PPL continues to expect planned infrastructure investments of $20 billion for 2025-2028.
Management continues to expect O&M savings of least $150 million by 2025.
IDACORP (IDA - Free Report) is scheduled to report first-quarter results on May 1, before market open. The Zacks Consensus Estimate for earnings is pegged at $1.03 per share, which suggests a year-over-year increase of 8.4%.
IDA’s long-term (three to five years) earnings growth rate is 8.47%. The Zacks Consensus Estimate for 2025 earnings is pinned at $5.81 per share, which implies a year-over-year improvement of 5.6%.
Pinnacle West Capital Corporation (PNW - Free Report) is scheduled to report first-quarter results on May 1, before market open. The Zacks Consensus Estimate for earnings is pegged at 5 cents per share.
PNW’s long-term earnings growth rate is 2.12%. The Zacks Consensus Estimate for 2025 earnings is pinned at $4.51 per share, which implies a year-over-year decline of 13.9%.
Alliant Energy (LNT - Free Report) is slated to report first-quarter results on May 8, after market close. The Zacks Consensus Estimate for earnings is pegged at 57 cents per share.
LNT’s long-term earnings growth rate is 6.73%. The Zacks Consensus Estimate for first-quarter sales is pinned at $1.13 billion, which implies a year-over-year improvement of 9.2%.
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PPL's Q1 Earnings Surpass Estimates, Revenues Increase Y/Y
PPL Corporation (PPL - Free Report) reported first-quarter 2025 operating earnings per share (EPS) of 60 cents, which surpassed the Zacks Consensus Estimate of 53 cents by 13.2%. In the year-ago quarter, earnings were 54 cents per share. (See the Zacks Earnings Calendar to stay ahead of market-making news)
On a GAAP basis, PPL recorded EPS of 56 cents compared with 42 cents in the year-ago quarter.
PPL’s Revenues
Total revenues of $2.50 billion surpassed the Zacks Consensus Estimate of $2.39 billion by 4.8%. The top line also increased 8.7% from the year-ago figure of $2.30 billion.
PPL Corporation Price, Consensus and EPS Surprise
PPL Corporation price-consensus-eps-surprise-chart | PPL Corporation Quote
Highlights of PPL’s Q1 Release
In the first quarter, the company sold 18,386 gigawatt hours of electricity to its customers in Pennsylvania and Kentucky, reflecting 6.6% year-over-year growth.
Total operating expenses were $1.83 billion, up 4% from the year-ago quarter’s $1.76 billion. This was due to an increase in fuel and energy purchases.
Operating income totaled $678 million, up 24.4% from the year-ago figure of $545 million.
Interest expenses amounted to $190 million, up 6.1% from $179 million in the corresponding period of 2024.
PPL’s Segmental Updates
Pennsylvania Regulated: Adjusted EPS was 25 cents, up 13.6% from the year-ago figure of 22 cents.
Kentucky Regulated: Adjusted EPS was 30 cents, up 20% from the year-ago figure of 25 cents.
Rhode Island Regulated: Adjusted EPS was 10 cents, down 9.1% from the year-ago figure of 11 cents. Lower distribution and transmission revenues and other factors affected earnings.
Corporate and Other: The segment incurred a loss of 5 cents per share compared with a loss of 4 cents in the year-ago quarter.
PPL’s Financial Position
As of March 31, 2025, PPL had cash and cash equivalents of $312 million compared with $306 million as of Dec. 31, 2024.
The long-term debt was $15.94 billion as of March 31, 2025, compared with $15.95 billion as of Dec. 31, 2024.
Net cash provided by operating activities in the first quarter was $513 million compared with $282 million in the year-ago quarter.
PPL’s Guidance
PPL reaffirmed its 2025 earnings projection in the range of $1.75-$1.87 per share. The Zacks Consensus Estimate is pegged at $1.82 per share, higher than the midpoint of the company’s guided range. The company reaffirmed its long-term annual earnings growth rate of 6-8% through 2028.
PPL continues to expect planned infrastructure investments of $20 billion for 2025-2028.
Management continues to expect O&M savings of least $150 million by 2025.
PPL’s Zacks Rank
PPL 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
IDACORP (IDA - Free Report) is scheduled to report first-quarter results on May 1, before market open. The Zacks Consensus Estimate for earnings is pegged at $1.03 per share, which suggests a year-over-year increase of 8.4%.
IDA’s long-term (three to five years) earnings growth rate is 8.47%. The Zacks Consensus Estimate for 2025 earnings is pinned at $5.81 per share, which implies a year-over-year improvement of 5.6%.
Pinnacle West Capital Corporation (PNW - Free Report) is scheduled to report first-quarter results on May 1, before market open. The Zacks Consensus Estimate for earnings is pegged at 5 cents per share.
PNW’s long-term earnings growth rate is 2.12%. The Zacks Consensus Estimate for 2025 earnings is pinned at $4.51 per share, which implies a year-over-year decline of 13.9%.
Alliant Energy (LNT - Free Report) is slated to report first-quarter results on May 8, after market close. The Zacks Consensus Estimate for earnings is pegged at 57 cents per share.
LNT’s long-term earnings growth rate is 6.73%. The Zacks Consensus Estimate for first-quarter sales is pinned at $1.13 billion, which implies a year-over-year improvement of 9.2%.