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PPL Q1 operating EPS was 63 cents vs. 61 cents estimate; GAAP EPS was 60 cents, up from 56 cents Y/Y.
PPL revenues rose 10.8% to $2.77B; operating income increased 9.9% to $745M as expenses rose to $2.03B.
PPL Kentucky adjusted EPS rose to 33 cents on retail rates effective Jan. 1, 2026.
PPL Corporation (PPL - Free Report) reported first-quarter 2026 operating earnings per share (EPS) of 63 cents, which beat the Zacks Consensus Estimate of 61 cents by 4.1%. In the year-ago quarter, the company reported earnings of 60 cents.
On a GAAP basis, PPL recorded EPS of 60 cents compared with 56 cents in the year-ago quarter. The difference in GAAP and operating EPS in the first quarter was due to the impacts of 3 cents from special items.
PPL’s Revenues
Total revenues of $2.77 billion surpassed the Zacks Consensus Estimate of $2.62 billion by 5.9%. The top line also increased 10.8% from the year-ago figure of $2.5 billion.
In the first quarter, the company sold 18,268 gigawatt hours of electricity to its customers in Pennsylvania and Kentucky, reflecting a year-over-year decrease of 0.6%.
Total operating expenses were $2.03 billion, up 11.1% from the year-ago quarter’s $1.83 billion. This was due to a decrease in energy purchases.
Operating income totaled $745 million, up 9.9% from the year-ago figure of $678 million.
Interest expenses amounted to $224 million, up 17.9% from $190 million in the corresponding period of 2025.
PPL’s Segmental Updates
Pennsylvania Regulated: Adjusted EPS was 25 cents, which came in line with the year-ago figure.
Kentucky Regulated: Adjusted EPS was 33 cents compared with 30 cents in the year-ago quarter. The year-over-year increase in earnings was driven by higher income from retail rates that became effective on Jan. 1, 2026.
Rhode Island Regulated: Adjusted EPS was 10 cents, similar to the year-ago figure.
Corporate and Other: The segment incurred a loss of 5 cents per share, which came in line with the year-ago figure.
PPL’s Financial Position
As of March 31, 2026, PPL had cash and cash equivalents of $1.24 billion compared with $1.07 billion as of Dec. 31, 2025.
The long-term debt was $19.02 billion as of March 31, 2026 compared with $17.99 billion as of Dec. 31, 2025.
Net cash provided by operating activities in the first three months of 2026 was $557 million compared with $513 million in the year-ago period.
PPL’s Guidance
PPL expects 2026 earnings to be in the range of $1.90-$1.98 per share. The Zacks Consensus Estimate is pegged at $1.95, higher than the midpoint of the company’s guided range. PPL expects a long-term annual earnings growth rate of 6-8% through 2029.
The company expects its guidance for planned infrastructure investments to be $23 billion for 2026-2029.
Evergy, Inc. (EVRG - Free Report) reported first-quarter 2026 operating EPS of 69 cents, which beat the Zacks Consensus Estimate of 63 cents by 9.5%. In the year-ago quarter, the company reported earnings of 55 cents.
Quarterly revenues totaled $1.44 billion, which surpassed the Zacks Consensus Estimate of $1.41 billion by 2.2%. In the year-ago quarter, the company posted revenues of $1.37 billion.
Edison International (EIX - Free Report) reported first-quarter 2026 adjusted earnings of $1.42 per share, which outpaced the Zacks Consensus Estimate of $1.32 by 7.6%. The bottom line also increased 3.6% from $1.37 in the year-ago quarter.
Edison International's first-quarter operating revenues totaled $4.1 billion, which beat the Zacks Consensus Estimate of $3.99 billion by 2.8%. The top line also increased 7.7% from the year-ago quarter’s figure of $3.81 billion.
CenterPoint Energy, Inc. (CNP - Free Report) reported first-quarter 2026 adjusted earnings of 56 cents per share, which missed the Zacks Consensus Estimate of 58 cents by 3.8%. However, the bottom line increased 5.7% from 53 cents in the year-ago quarter.
CNP generated revenues of $2.98 billion, which lagged the Zacks Consensus Estimate of $3.04 billion by 1.4%. However, the top line improved 2% from the year-ago reported figure of $2.92 billion.
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PPL Q1 Earnings Surpass Estimates, Revenues Increase Y/Y
Key Takeaways
PPL Corporation (PPL - Free Report) reported first-quarter 2026 operating earnings per share (EPS) of 63 cents, which beat the Zacks Consensus Estimate of 61 cents by 4.1%. In the year-ago quarter, the company reported earnings of 60 cents.
On a GAAP basis, PPL recorded EPS of 60 cents compared with 56 cents in the year-ago quarter. The difference in GAAP and operating EPS in the first quarter was due to the impacts of 3 cents from special items.
PPL’s Revenues
Total revenues of $2.77 billion surpassed the Zacks Consensus Estimate of $2.62 billion by 5.9%. The top line also increased 10.8% from the year-ago figure of $2.5 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 18,268 gigawatt hours of electricity to its customers in Pennsylvania and Kentucky, reflecting a year-over-year decrease of 0.6%.
Total operating expenses were $2.03 billion, up 11.1% from the year-ago quarter’s $1.83 billion. This was due to a decrease in energy purchases.
Operating income totaled $745 million, up 9.9% from the year-ago figure of $678 million.
Interest expenses amounted to $224 million, up 17.9% from $190 million in the corresponding period of 2025.
PPL’s Segmental Updates
Pennsylvania Regulated: Adjusted EPS was 25 cents, which came in line with the year-ago figure.
Kentucky Regulated: Adjusted EPS was 33 cents compared with 30 cents in the year-ago quarter. The year-over-year increase in earnings was driven by higher income from retail rates that became effective on Jan. 1, 2026.
Rhode Island Regulated: Adjusted EPS was 10 cents, similar to the year-ago figure.
Corporate and Other: The segment incurred a loss of 5 cents per share, which came in line with the year-ago figure.
PPL’s Financial Position
As of March 31, 2026, PPL had cash and cash equivalents of $1.24 billion compared with $1.07 billion as of Dec. 31, 2025.
The long-term debt was $19.02 billion as of March 31, 2026 compared with $17.99 billion as of Dec. 31, 2025.
Net cash provided by operating activities in the first three months of 2026 was $557 million compared with $513 million in the year-ago period.
PPL’s Guidance
PPL expects 2026 earnings to be in the range of $1.90-$1.98 per share. The Zacks Consensus Estimate is pegged at $1.95, higher than the midpoint of the company’s guided range. PPL expects a long-term annual earnings growth rate of 6-8% through 2029.
The company expects its guidance for planned infrastructure investments to be $23 billion for 2026-2029.
PPL’s Zacks Rank
The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Releases
Evergy, Inc. (EVRG - Free Report) reported first-quarter 2026 operating EPS of 69 cents, which beat the Zacks Consensus Estimate of 63 cents by 9.5%. In the year-ago quarter, the company reported earnings of 55 cents.
Quarterly revenues totaled $1.44 billion, which surpassed the Zacks Consensus Estimate of $1.41 billion by 2.2%. In the year-ago quarter, the company posted revenues of $1.37 billion.
Edison International (EIX - Free Report) reported first-quarter 2026 adjusted earnings of $1.42 per share, which outpaced the Zacks Consensus Estimate of $1.32 by 7.6%. The bottom line also increased 3.6% from $1.37 in the year-ago quarter.
Edison International's first-quarter operating revenues totaled $4.1 billion, which beat the Zacks Consensus Estimate of $3.99 billion by 2.8%. The top line also increased 7.7% from the year-ago quarter’s figure of $3.81 billion.
CenterPoint Energy, Inc. (CNP - Free Report) reported first-quarter 2026 adjusted earnings of 56 cents per share, which missed the Zacks Consensus Estimate of 58 cents by 3.8%. However, the bottom line increased 5.7% from 53 cents in the year-ago quarter.
CNP generated revenues of $2.98 billion, which lagged the Zacks Consensus Estimate of $3.04 billion by 1.4%. However, the top line improved 2% from the year-ago reported figure of $2.92 billion.