PPL - PPL STOCK NEWS

PPL Corporation (NYSE: PPL) reported second-quarter 2022 earnings of $119 million, or $0.16 per share, marking a significant increase from $19 million, or $0.03 per share, in Q2 2021. Ongoing earnings per share rose to $0.30 from $0.19 year-over-year. The company reaffirmed its 2022 ongoing earnings forecast of $1.30 to $1.45 per share. The acquisition of Rhode Island Energy completed on May 25, 2022, is projected to enhance earnings, with $27 billion in regulated investment opportunities through 2030, aiming for 6-8% annual earnings and dividend growth through 2025.

PPL Corporation (NYSE: PPL) will release its consolidated second-quarter 2022 earnings results on August 3, 2022. CEO Vincent Sorgi and the executive team will discuss these results in a conference call at 11 a.m. ET, which will be available via webcast. PPL serves over 3.5 million customers in the U.S., focusing on reliable electricity and natural gas services. The company is committed to building advanced power grids and sustainable energy solutions. A replay of the call will be accessible for 90 days after the event.

PPL Electric Utilities has received two Industry Excellence Awards from Southeastern Electric Exchange (S.E.E.) for its innovations in employee safety and supply chain management. The awards were announced at S.E.E.'s annual conference on June 29. PPL's safety initiatives have led to the development of a leadership training program and quarterly learning sessions that have proven to reduce incidents. Additionally, PPL’s supply chain innovation, taking over storage and delivery of steel structures, has decreased costs by 40% and improved reliability for customers.

PPL Corporation (NYSE:PPL) recently held a virtual Investor Day, showcasing its transformation into a premier U.S. regulated utility following the acquisition of Rhode Island Energy. The company plans to invest $27 billion through 2030 to enhance grid modernization and reliability. Projected earnings per share and dividend growth are expected at 6% to 8% annually, supporting a total return of 9% to 11%. The quarterly dividend increased to $0.225, payable on July 1, 2022. PPL's leadership emphasized its focus on innovation and sustainability in achieving net-zero carbon emissions by 2050.

Moody's Investors Service upgraded the credit ratings of PPL Corporation (NYSE: PPL) and PPL Capital Funding following PPL's acquisition of The Narragansett Electric Company. The upgrades reflect PPL's improved financial strength and risk profile after divesting its U.K. utility operations. PPL now boasts a strong balance sheet, supporting future growth without equity needs. The enhancement in Narragansett Electric's rating was attributed to better governance and reduced leverage. Moody's noted that PPL operates in credit-friendly regulatory environments, further solidifying its positive outlook.

PPL Corporation (NYSE: PPL) has joined the Climate READi initiative, a three-year project by the Electric Power Research Institute aimed at enhancing the climate resilience of energy systems. This initiative will leverage climate data for better future planning. PPL has invested over $20 billion in infrastructure improvements, achieving a 35% reduction in customer outages over the last decade. The company seeks to replicate this success in Rhode Island following its acquisition of the Narragansett Electric Company.

PPL Corporation (NYSE: PPL) will hold a virtual Investor Day on June 9, starting at 10 a.m. Eastern Time, to discuss its business strategy and long-term financial outlook. This event comes after the successful acquisition of The Narragansett Electric Company. PPL's management will present on their overall strategy, clean energy initiatives, capital investments, and plans for long-term earnings and dividend growth. Investors can access the event via the company’s Investor Relations website, with a replay available within 24 hours.

PPL Corporation has completed its acquisition of The Narragansett Electric Company for approximately $3.8 billion, transitioning its operations to Rhode Island Energy. This strategic move positions PPL as a U.S.-focused energy company, enhancing its commitment to innovation and clean energy. The acquisition allows PPL to leverage its operational model to support Rhode Island's renewable energy goals. The company aims to provide reliable service to over 770,000 customers and plans to establish local leadership and a control center in Rhode Island.

PPL Corporation has received clearance from the Rhode Island Superior Court to acquire The Narragansett Electric Company from National Grid. This follows a settlement with the Rhode Island attorney general, allowing the transaction to close promptly. Key commitments from PPL include providing $50 million in bill credits and forgiving over $43 million in arrearages for low-income customers. Additionally, PPL will not seek base rate increases for three years post-acquisition and will contribute $5 million towards renewable energy initiatives. This acquisition aims to diversify PPL's asset portfolio and align with decarbonization goals.