PPL Corp. Issues Earnings Guidance; Raises Carbon Emissions Reduction Goal

(RTTNews) - PPL Corp. (PPL) announced 2020 earnings forecast of $2.40 to $2.60 per share, with a midpoint of $2.50 per share. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.52. Analysts' estimates typically exclude special items.

PPL updated its 2021 earnings guidance range to $2.40 to $2.60 per share from the prior range of $2.50 to $2.80 per share, reflecting lower expected foreign currency exchange rate forecasts.

PPL Corp. plans to invest about $14 billion across its U.S. and U.K. businesses over the next five years. PPL has set a more aggressive carbon reduction goal of at least 80% from 2010 levels by 2050 and has accelerated its previous 70% goal by 10 years to 2040. The company plans to achieve the reductions through a variety of actions, which include replacing Kentucky coal-fired generation over time with a mix of renewables and natural gas.

Fourth-quarter earnings from ongoing operations per share was $0.57 compared to $0.52, prior year. Operating revenues increased to $1.95 billion from $1.94 billion, last year.