PPL Corporation (PPL) Research

Forward Estimates

EPS Estimates

Current Qtr

$0.36

$0.27$0.42

vs $0.32+13.1%

12 analysts

Next Qtr

$0.51

$0.40$0.57

vs $0.48+5.5%

11 analysts

Current Yr

$1.95

$1.92$1.97

vs $1.81+7.7%

15 analysts

Next Yr

$2.12

$2.09$2.16

vs $1.95+8.6%

16 analysts

Revenue Estimates

Current Qtr

$2.18B

$2.13B$2.23B

vs $2.02B+7.5%

5 analysts

Next Qtr

$2.37B

$2.17B$2.53B

vs $2.24B+5.7%

5 analysts

Current Yr

$9.66B

$9.32B$10.03B

vs $9.04B+6.8%

11 analysts

Next Yr

$10.19B

$9.82B$10.71B

vs $9.66B+5.5%

11 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for PPL on EDGAR.

PPL filing events and research context
Filed	Item	Context
May 8, 2026	mda_quarterly	PPL reported Q1 2026 net income of $452 million and operating revenues of $2.77 billion, compared to $414 million and $2.50 billion in the prior year. Revenue growth was primarily driven by PPL Electric’s Provider of Last Resort (PLR) prices and volumes, alongside new base rates in Kentucky. These gains were partially offset by increased fuel and energy purchase expenses. Significant regulatory developments include a non-unanimous settlement for PPL Electric to increase annual distribution revenue by approximately $275 million in Pennsylvania and KPSC-approved revenue increases of $233 million for LG&E and KU in Kentucky. PPL is also pursuing a legal merger of LG&E and KU. In Rhode Island, RIE is seeking a two-year rate plan for electric and gas distribution. A FERC order reducing the base ROE for New England transmission owners to 9.57% resulted in a $26 million liability for RIE. Strategic focus remains on retiring coal-fired assets, such as Mill Creek Unit 2, and managing rapid load growth from data centers through new high-load factor tariffs. To strengthen liquidity, PPL issued $1.15 billion in Corporate Units in February 2026. Key risks include EPA deregulatory initiatives and the impact of the One Big Beautiful Bill Act on clean energy tax credits.
Feb 20, 2026	business	PPL operates regulated electric and natural gas utilities across Pennsylvania, Kentucky, and Rhode Island, primarily through PPL Electric, LG&E and KU, and RIE. The company is executing a strategic transition toward "utilities of the future," focusing on grid resilience, decarbonization through natural gas, renewables, and battery energy storage systems (BESS), and operational efficiency via advanced technologies. A critical growth trend is the increasing demand from data centers, which has led to a joint venture with Blackstone Infrastructure to develop new electricity generation in Pennsylvania to serve hyperscalers. This demand is driving a shift in the generation mix, characterized by the retirement of coal-fired assets, such as the Mill Creek units, and the planned deployment of new natural gas combined cycle (NGCC) units and BESS projects. PPL’s financial trajectory is closely tied to regulatory environments, including ongoing rate case proceedings and Certificate of Public Convenience and Necessity (CPCN) filings in all operating jurisdictions. Key risks include the unpredictability of regulatory decisions, evolving environmental mandates regarding coal-fired generation, and the significant capital expenditures required to modernize infrastructure and accommodate anticipated load growth.
Feb 20, 2026	mda	PPL Corporation operates through three regulated segments: Kentucky (LG&E and KU), Pennsylvania (PPL Electric), and Rhode Island (RIE). For fiscal year 2025, consolidated net income rose to $1.18 billion from $888 million in 2024, supported by $9.04 billion in operating revenues. A primary growth driver is the projected surge in electricity demand from data centers and artificial intelligence, which has prompted a joint venture with Blackstone Infrastructure to develop new generation capacity in Pennsylvania. To address this load growth and manage the transition from coal, PPL is prioritizing investments in natural gas combined cycle (NGCC) plants, renewable energy, and battery energy storage systems (BESS), including the Mill Creek and Brown generation projects. Key risks include regulatory uncertainty regarding rate recovery and evolving EPA environmental standards for greenhouse gases and particulate matter. The company faces significant capital intensity and the operational challenges of retiring coal-fired assets. Furthermore, PPL must manage cybersecurity threats, interest rate volatility, and the physical risks of extreme weather driven by climate change. Analysts should closely monitor the outcomes of pending rate cases in Rhode Island and Pennsylvania, as well as the successful execution of large-scale infrastructure and generation projects.

Filed

Item

Context

May 8, 2026

mda_quarterly

PPL reported Q1 2026 net income of $452 million and operating revenues of $2.77 billion, compared to $414 million and $2.50 billion in the prior year. Revenue growth was primarily driven by PPL Electric’s Provider of Last Resort (PLR) prices and volumes, alongside new base rates in Kentucky. These gains were partially offset by increased fuel and energy purchase expenses. Significant regulatory developments include a non-unanimous settlement for PPL Electric to increase annual distribution revenue by approximately $275 million in Pennsylvania and KPSC-approved revenue increases of $233 million for LG&E and KU in Kentucky. PPL is also pursuing a legal merger of LG&E and KU. In Rhode Island, RIE is seeking a two-year rate plan for electric and gas distribution. A FERC order reducing the base ROE for New England transmission owners to 9.57% resulted in a $26 million liability for RIE. Strategic focus remains on retiring coal-fired assets, such as Mill Creek Unit 2, and managing rapid load growth from data centers through new high-load factor tariffs. To strengthen liquidity, PPL issued $1.15 billion in Corporate Units in February 2026. Key risks include EPA deregulatory initiatives and the impact of the One Big Beautiful Bill Act on clean energy tax credits.

Feb 20, 2026

business

PPL operates regulated electric and natural gas utilities across Pennsylvania, Kentucky, and Rhode Island, primarily through PPL Electric, LG&E and KU, and RIE. The company is executing a strategic transition toward "utilities of the future," focusing on grid resilience, decarbonization through natural gas, renewables, and battery energy storage systems (BESS), and operational efficiency via advanced technologies. A critical growth trend is the increasing demand from data centers, which has led to a joint venture with Blackstone Infrastructure to develop new electricity generation in Pennsylvania to serve hyperscalers. This demand is driving a shift in the generation mix, characterized by the retirement of coal-fired assets, such as the Mill Creek units, and the planned deployment of new natural gas combined cycle (NGCC) units and BESS projects. PPL’s financial trajectory is closely tied to regulatory environments, including ongoing rate case proceedings and Certificate of Public Convenience and Necessity (CPCN) filings in all operating jurisdictions. Key risks include the unpredictability of regulatory decisions, evolving environmental mandates regarding coal-fired generation, and the significant capital expenditures required to modernize infrastructure and accommodate anticipated load growth.

Feb 20, 2026

mda

PPL Corporation operates through three regulated segments: Kentucky (LG&E and KU), Pennsylvania (PPL Electric), and Rhode Island (RIE). For fiscal year 2025, consolidated net income rose to $1.18 billion from $888 million in 2024, supported by $9.04 billion in operating revenues. A primary growth driver is the projected surge in electricity demand from data centers and artificial intelligence, which has prompted a joint venture with Blackstone Infrastructure to develop new generation capacity in Pennsylvania. To address this load growth and manage the transition from coal, PPL is prioritizing investments in natural gas combined cycle (NGCC) plants, renewable energy, and battery energy storage systems (BESS), including the Mill Creek and Brown generation projects. Key risks include regulatory uncertainty regarding rate recovery and evolving EPA environmental standards for greenhouse gases and particulate matter. The company faces significant capital intensity and the operational challenges of retiring coal-fired assets. Furthermore, PPL must manage cybersecurity threats, interest rate volatility, and the physical risks of extreme weather driven by climate change. Analysts should closely monitor the outcomes of pending rate cases in Rhode Island and Pennsylvania, as well as the successful execution of large-scale infrastructure and generation projects.

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PPL filing events and research context

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