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PPL Corp (PPL) Q2 Earnings Beats Estimates, Revenues Down Y/Y
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PPL Corporation (PPL - Free Report) reported second-quarter 2019 adjusted earnings per share (EPS) of 58 cents, which beat the Zacks Consensus Estimate of 56 cents by 3.6%. The figure rose 5.5% year over year, primarily on strong operational performance byregulated utilities.
On a GAAP basis, the company generated EPS of 60 cents compared with 73 cents in the year-ago quarter. The difference between GAAP and operating earnings stemmed from benefit in the U.K. Regulated segment.
Total Revenues
The company generated revenues worth $1,803 million in the second quarter, which declined 2.4% year over year from the year-ago quarter’s tally of $1,848 million.
U.K. Regulated: Adjusted earnings were 36 cents per share, flat compared with the prior-year quarter’s figure. Dilution impacted second-quarter earnings in the segment.
Kentucky Regulated: Adjusted earnings were 13 cents, up from 12 cents in the year-ago quarter. The upside can be primarily attributed to higher retail rates effective May 1, 2019, and lower income taxes.
Pennsylvania Regulated: Adjusted earnings were 13 cents, up 18.2% from the prior-year quarter’s figure. The results benefited from timing impacts related to U.S. tax reform, returns on additional capital investments in transmission as well as lower operation and maintenance expenses.
Corporate and Other: The segment incurred a loss of 4 cents in the quarter, flat year over year.
Operational Highlights
PPL Corp’s total operating expenses fell 2.3% year over year to $ 1,163 million in the quarter.
The company generated operating income of $640 million, lower than $658 million in the prior-year quarter.
Interest expenses up 4.7% to $246 million from the year-ago quarter’s tally of $235 million.
Financial Position
As of Jun 30, 2019, the company had cash and cash equivalents of $406 million compared with $621 million as of Dec 31, 2018.
Long-term debt (excluding debts due within a year) was $20,965 million as of Jun 30, 2019 compared with $20,069 million as of Dec 31, 2018.
Net cash flow from operating activities in the first six months of 2019 was $1,070 million compared with $1,325 million in year-ago period.
Guidance
PPL Corp reaffirmed guidance for 2019 EPS from ongoing operations in the range of $2.30-$2.50 with a midpoint of $2.40. The projected figure is lower than the Zacks Consensus Estimate of $2.42.
American Electric Power Co., Inc (AEP - Free Report) reported second-quarter 2019 adjusted earnings per share (EPS) of $1.00, which surpassed the Zacks Consensus Estimate of 98 cents by 2%.
NextEra Energy (NEE - Free Report) reported second-quarter 2019 adjusted earnings of $2.35 per share, which beat the Zacks Consensus Estimate of $2.28 by 3.1%.
Brookfield Infrastructure Partners L.P. (BIP - Free Report) posted second-quarter 2019 operating earnings of 12 cents per unit, which lagged the Zacks Consensus Estimate of 83 cents by 85.5%.
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PPL Corp (PPL) Q2 Earnings Beats Estimates, Revenues Down Y/Y
PPL Corporation (PPL - Free Report) reported second-quarter 2019 adjusted earnings per share (EPS) of 58 cents, which beat the Zacks Consensus Estimate of 56 cents by 3.6%. The figure rose 5.5% year over year, primarily on strong operational performance byregulated utilities.
On a GAAP basis, the company generated EPS of 60 cents compared with 73 cents in the year-ago quarter. The difference between GAAP and operating earnings stemmed from benefit in the U.K. Regulated segment.
Total Revenues
The company generated revenues worth $1,803 million in the second quarter, which declined 2.4% year over year from the year-ago quarter’s tally of $1,848 million.
PPL Corporation Price, Consensus and EPS Surprise
PPL Corporation price-consensus-eps-surprise-chart | PPL Corporation Quote
Segment Results
U.K. Regulated: Adjusted earnings were 36 cents per share, flat compared with the prior-year quarter’s figure. Dilution impacted second-quarter earnings in the segment.
Kentucky Regulated: Adjusted earnings were 13 cents, up from 12 cents in the year-ago quarter. The upside can be primarily attributed to higher retail rates effective May 1, 2019, and lower income taxes.
Pennsylvania Regulated: Adjusted earnings were 13 cents, up 18.2% from the prior-year quarter’s figure. The results benefited from timing impacts related to U.S. tax reform, returns on additional capital investments in transmission as well as lower operation and maintenance expenses.
Corporate and Other: The segment incurred a loss of 4 cents in the quarter, flat year over year.
Operational Highlights
PPL Corp’s total operating expenses fell 2.3% year over year to $ 1,163 million in the quarter.
The company generated operating income of $640 million, lower than $658 million in the prior-year quarter.
Interest expenses up 4.7% to $246 million from the year-ago quarter’s tally of $235 million.
Financial Position
As of Jun 30, 2019, the company had cash and cash equivalents of $406 million compared with $621 million as of Dec 31, 2018.
Long-term debt (excluding debts due within a year) was $20,965 million as of Jun 30, 2019 compared with $20,069 million as of Dec 31, 2018.
Net cash flow from operating activities in the first six months of 2019 was $1,070 million compared with $1,325 million in year-ago period.
Guidance
PPL Corp reaffirmed guidance for 2019 EPS from ongoing operations in the range of $2.30-$2.50 with a midpoint of $2.40. The projected figure is lower than the Zacks Consensus Estimate of $2.42.
Zacks Rank
Currently, PPL Corp carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
American Electric Power Co., Inc (AEP - Free Report) reported second-quarter 2019 adjusted earnings per share (EPS) of $1.00, which surpassed the Zacks Consensus Estimate of 98 cents by 2%.
NextEra Energy (NEE - Free Report) reported second-quarter 2019 adjusted earnings of $2.35 per share, which beat the Zacks Consensus Estimate of $2.28 by 3.1%.
Brookfield Infrastructure Partners L.P. (BIP - Free Report) posted second-quarter 2019 operating earnings of 12 cents per unit, which lagged the Zacks Consensus Estimate of 83 cents by 85.5%.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>