PPL Narrows FY24 Ongoing EPS Outlook Range - Update

(RTTNews) - While reporting financial results for the third quarter on Friday, PPL Corp. (PPL) narrowed its ongoing earnings guidance range to $1.67 to $1.73 per share from the prior range of $1.63 to $1.75 per share.

On average, 15 analysts polled by Thomson Reuters expect the company to report earnings of $1.71 per share for the year. Analysts' estimates typically exclude special items.

The company also reaffirmed its projection of 6 to 8 percent annual earnings and dividend growth through at least 2027 based off the midpoint of its original 2024 ongoing earnings forecast range.

"Based on our strong year-to-date financial performance and continued execution of our business plan, we've narrowed our 2024 ongoing earnings forecast range," said Vincent Sorgi, president and chief executive officer of PPL Corporation.

The company is also on track to invest more than $3 billion in infrastructure improvements to make the grid more resilient to future storms and advance a safe, reliable, affordable and cleaner energy future in 2024.

PPL's other plan includes delivering targeted annual operation and maintenance savings of at least $175 million by 2026 from the company's 2021 baseline, with a cumulative $120 million to $130 million of annual savings planned by the end of 2024.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com