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PPL Corporation (NYSE: PPL) is a renowned global energy company headquartered in Allentown, Pennsylvania. PPL serves over 10.5 million customers across Pennsylvania, Kentucky, and the United Kingdom with its high-performing regulated utilities, including Western Power Distribution, Louisville Gas and Electric, Kentucky Utilities, and PPL Electric Utilities. These subsidiaries are consistently recognized for delivering outstanding service in both the U.S. and the U.K.
PPL's operations span across electricity generation, transmission, and distribution, as well as natural gas services. The company is a positive force in its communities, supporting job creation programs and donating millions to charitable organizations to enhance the quality of life. Additionally, PPL's workforce of over 13,000 employees actively volunteers their time and energy to assist others.
Recent achievements include a significant $72 million award from the U.S. Department of Energy to fund a pioneering carbon dioxide (CO2) capture project in collaboration with the University of Kentucky and other partners. This project aims to capture up to 90,000 metric tons of CO2 annually, equivalent to the emissions of 20,000 gasoline-powered cars, marking a major step towards PPL's goal of achieving net-zero carbon emissions by 2050.
PPL continues to innovate and invest in infrastructure, recently committing to $14.3 billion in planned investments through 2027 to modernize the grid, enhance reliability, and support renewable energy integration. The company also maintains a strong financial position, with reported 2023 earnings of $740 million and an ongoing commitment to dividend growth.
PPL's subsidiaries are involved in various strategic projects, such as deploying advanced smart metering technology in Rhode Island through a partnership with Landis+Gyr. This initiative will support the state's clean energy goals and grid modernization efforts.
Overall, PPL Corporation remains dedicated to providing safe, reliable, and affordable energy while advancing sustainable energy solutions and fostering community development.
PPL Capital Funding, a subsidiary of PPL Corporation (NYSE: PPL), announced plans for a $900 million private placement of Exchangeable Senior Notes due 2028. The offering aims to attract qualified institutional buyers under Rule 144A of the Securities Act. The notes, which will have semi-annual interest payments, are exchangeable for cash or shares of PPL's common stock. Proceeds will be used to repay short-term debt and for general corporate purposes. Additionally, the announcement includes details about redemption options and investor rights upon fundamental changes.
PPL Corporation reported 2022 earnings of $1.02 per share, surpassing the previous year's loss of $1.93 per share. Adjusted ongoing operations earnings were $1.41 per share, up from $1.05 in 2021. The company reaffirmed its 2023 earnings forecast at $1.50 to $1.65 per share, targeting a midpoint of $1.58, reflecting a 7% increase from 2022. A quarterly common stock dividend was raised by 7% to $0.24, payable on April 3, 2023. PPL aims for 6% to 8% annual EPS and dividend growth through 2026 and has planned $12 billion in infrastructure investments through 2026 to enhance grid reliability.
PPL Corporation (NYSE: PPL) is set to release its consolidated fourth-quarter and year-end 2022 earnings results on February 17, 2023. The conference call, featuring PPL's CEO Vincent Sorgi and the executive team, will start at 11 a.m. Eastern Time and will be available for live streaming on their investor website. The call will cover quarterly and annual results alongside the company's business outlook. A replay will be accessible for 90 days. PPL serves over 3.5 million customers with a focus on creating innovative, reliable, and sustainable power solutions.
PPL Corporation (NYSE: PPL) has announced its 2023 Annual Meeting of Shareowners will be held virtually on May 17, 2023, at 9 a.m. Eastern time. Shareowners of record as of February 28, 2023 are eligible to vote and participate. The company provides electricity and natural gas to approximately 3.5 million customers in the U.S., focusing on building resilient power grids and advancing sustainable energy solutions. Proxy materials with meeting instructions will be sent to shareowners.
PPL Corporation (NYSE: PPL) announced a robust updated business plan predicting 6% to 8% annual EPS and dividend growth through at least 2026. The plan includes an additional $2.5 billion for capital investments, raising total investments to $14.3 billion, resulting in a projected 5.6% rate base growth. Expected EPS for 2023 is between $1.50 and $1.65, representing a 7% increase over prior forecasts. They also plan to boost the quarterly dividend by 7% to $0.24 per share.
PPL Corporation has appointed Francis X. Sullivan as the new Chief Operating Officer, effective January 1, 2023, replacing Gregory N. Dudkin, who is on extended medical leave. Sullivan, with over 40 years in the energy sector, previously held leadership positions at NRG Energy and Kindle Energy. He will oversee PPL's regulated utility operations and report to President and CEO Vincent Sorgi. Sorgi expressed confidence in Sullivan’s leadership as the company focuses on transforming and growing within the evolving energy landscape.
PPL Corporation (NYSE: PPL) will host a conference call on January 11 to discuss capital investment plans, cost savings, and business outlook. The call aims to update stakeholders on the company's strategic repositioning as a leading U.S. regulated utility. PPL's president expressed confidence in delivering premium growth and ongoing infrastructure investment in Kentucky and Rhode Island. Following the call, PPL's team will meet with investors at the Evercore ISI utility conference on January 12 and 13 in Palm Beach, Florida.
PPL Corporation, based in Allentown, Pennsylvania, has successfully raised over $8 million through charitable giving campaigns this fall, contributing to a total of $16 million towards community support across Kentucky, Pennsylvania, and Rhode Island. This initiative reflects the company’s commitment to improving local communities through employee and retiree contributions, as well as matching funds from PPL’s foundations. The funds will assist various local nonprofits and educational programs vital for community development and health services.
PPL Corporation's subsidiaries, Louisville Gas and Electric Company and Kentucky Utilities Company, plan to replace 1,500 megawatts of aging coal-fired generation by 2028. The proposal includes two natural gas plants, 1,000 megawatts of solar, and 125 megawatts of battery storage, totaling a $2.1 billion investment. This effort seeks approval from the Kentucky Public Service Commission by October 1, 2023, aiming to enhance reliability, reduce overall emissions by 25%, and meet customer energy needs sustainably.
PPL Corporation (NYSE: PPL) announced a quarterly dividend of $0.2250 per share on November 18, 2022, payable on January 3, 2023. This dividend will benefit shareholders of record as of December 9, 2022. PPL, based in Allentown, Pennsylvania, serves approximately 3.5 million customers and is committed to enhancing energy solutions through smarter and more dynamic power grids.
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