PPL Corporation - PPL STOCK NEWS

On Nov. 13, 2020, LG&E and KU highlighted their commitment to providing reliable service during the pandemic while seeking a rate adjustment due to rising costs. They suspended late fees and disconnections, donated to COVID-19 relief, and invested in infrastructure, reducing outage frequency by 20%. An adjustment request will be filed on Nov. 25, 2020, to offset increased costs with an Economic Relief Surcredit of $53 million, impacting residential bills starting mid-2021. Despite the adjustment, LG&E's rates are 17% and KU's are 22% below the national average.

PPL Corporation (NYSE: PPL) reported third-quarter 2020 earnings of $281 million, down 41% from $475 million a year earlier, resulting in earnings per share (EPS) of $0.37 compared to $0.65 in Q3 2019. For the year-to-date, earnings total $1.18 billion, or $1.53 EPS, a decline from $1.38 billion, or $1.89 EPS, in 2019. Adjusted earnings from ongoing operations were $450 million ($0.58 EPS), slightly up from $445 million ($0.61 EPS) a year ago. PPL narrowed its 2020 earnings guidance to $2.40-$2.50 per share, influenced by COVID-19 challenges and milder weather impacts.

PPL Corporation (NYSE: PPL) will release its consolidated third-quarter 2020 earnings results on November 5. During a conference call at 11 a.m. Eastern time, PPL's CEO, Vincent Sorgi, will discuss the quarterly results and business outlook. The call will be accessible via webcast and a replay will be available at www.pplweb.com/investors for 90 days. PPL is one of the largest companies in the U.S. utility sector, serving 10 million customers across the U.S. and UK.

PPL Corporation (NYSE: PPL) has appointed Arthur P. Beattie, former CFO of Southern Company, to its board of directors, effective immediately. Beattie brings over 40 years of utility industry experience and will serve on the Audit Committee. His background includes financial planning, risk management, and mergers and acquisitions. PPL Board Chair William H. Spence emphasized that Beattie’s expertise would enhance the board’s capabilities for long-term growth and success. PPL serves over 10 million customers across the U.S. and U.K.

PPL Electric Utilities announced a significant achievement in its smart grid technology, reporting over 1 million avoided outages since 2015. This advancement has led to customers avoiding 100 million minutes of power outages, translating to more than 190 years of uninterrupted service. The smart grid, characterized by advanced sensors and software, has contributed to a nearly one-third reduction in outage frequency since 2011. PPL is actively exploring new reliability measures, including battery solutions for rural customers. The company serves over 1.4 million customers in Pennsylvania.

PPL Corporation (NYSE: PPL) announced a quarterly common stock dividend of $0.4150 per share, payable on Oct. 1, 2020. Shareowners of record as of Sept. 10, 2020 will be eligible for this dividend. PPL is a leading utility company in the U.S., serving over 10 million customers across the U.S. and the U.K. The corporation is known for its commitment to outstanding customer service and reliability, employing more than 12,000 individuals to provide superior value for its shareholders.

PPL Corporation (NYSE: PPL) has joined a five-year initiative led by the Electric Power Research Institute (EPRI) and Gas Technology Institute (GTI) to promote low-carbon energy technologies. The initiative aims to develop affordable pathways for economy-wide decarbonization, aligning with PPL's goal to cut carbon emissions by at least 80% by 2050. As an anchor sponsor, PPL will collaborate on innovative solutions involving low-carbon electric generation technologies and energy carriers such as hydrogen and ammonia. This effort supports PPL's commitment to a sustainable energy future.

PPL Corporation (NYSE: PPL) reported second-quarter 2020 earnings of $344 million, or $0.45 per share, down from $441 million, or $0.60 per share year-over-year. For the first half of 2020, earnings were $898 million, or $1.17 per share, compared to $907 million, or $1.24 per share in 2019. Adjusted earnings from ongoing operations were $427 million, or $0.55 per share. PPL reaffirmed its 2020 guidance of $2.40 to $2.60 per share, though results are expected to be at the lower end due to COVID-19 impacts. The company is initiating a sale process for its U.K. utility business to enhance shareholder value.

PPL Corporation (NYSE: PPL) announced on August 10, 2020, its decision to initiate the sale of its U.K. utility business, Western Power Distribution (WPD), to focus solely on the U.S. market. This strategic move aims to unlock shareholder value by utilizing proceeds to strengthen the balance sheet and invest in domestic growth opportunities. PPL is working with JP Morgan Securities as its financial advisor for the sale, expected to conclude in the first half of 2021. The company emphasizes WPD's strong performance but believes it is currently undervalued as part of PPL.