PPL Stock Price, News & Analysis

PPL Corporation (NYSE: PPL) reported its commitment to delivering reliable energy during the COVID-19 pandemic in its annual meeting on May 18, 2021. CEO Vincent Sorgi highlighted the company's $3 billion investment in infrastructure and $2 million in COVID-19 relief. Strategic transactions, including the sale of its UK utility to National Grid and acquiring The Narragansett Electric Company, are expected to enhance PPL's growth and financial profile. The company aims to achieve industry-leading performance while fostering community engagement and sustaining a diverse workplace.

PPL Corporation (NYSE: PPL) reported a net loss of $1.84 billion, or $2.39 per share, for Q1 2021, a sharp decline from earnings of $554 million, or $0.72 per share, in Q1 2020. Adjusted earnings from ongoing operations increased to $219 million, or $0.28 per share, from $206 million, or $0.27. The loss was mainly due to a non-cash net loss related to the sale of its U.K. utility business, Western Power Distribution, sold for £7.8 billion. PPL aims to close this sale by July and expects to finalize an acquisition of The Narragansett Electric Company by March 2022.

PPL Corporation (NYSE: PPL) will announce its consolidated first-quarter 2021 earnings on May 6, 2021. The company's executive team, led by President and CEO Vincent Sorgi, will discuss the results and business outlook during a conference call at 11 a.m. Eastern Time. Interested parties can join the call via webcast or telephone. A replay will be available for 90 days on the company's investor site. PPL serves 10 million customers across the U.S. and U.K. with a workforce of over 12,000 employees.

Louisville Gas and Electric Company and Kentucky Utilities Company have reached an agreement regarding their rate review with the Kentucky Public Service Commission. The agreement reduces the initially requested rate increase and introduces an Economic Relief bill credit to lessen the impact for customers over the first year. It includes no change to the basic residential service charge, a commitment to maintain base rates for four years, and enhanced support for low-income customers. If approved, new rates would take effect on July 1, 2021.

PPL Electric Utilities urges homeowners to call 811 before any digging projects to prevent accidents and damage to underground utilities. Pennsylvania law mandates this call at least three business days in advance of excavation, providing a safety measure for both homeowners and utility crews. A survey revealed that while nearly 40% of homeowners plan to dig this year, almost half are unaware of the necessity to call 811. In 2019, there were 532,000 excavation-related damages costing approximately $30 million. PPL Electric Utilities serves over 1.4 million customers in Pennsylvania.

PPL Corporation announced significant leadership changes on April 5, 2021. Gregory N. Dudkin has been promoted to executive vice president and chief operating officer, while Stephanie R. Raymond will succeed him as president of PPL Electric Utilities effective April 12, 2021. Dudkin has spearheaded improvements in customer satisfaction and operational efficiency, while Raymond has overseen successful smart grid enhancements. These transitions aim to strengthen PPL's position as a U.S.-focused energy company, especially amid ongoing acquisitions to expand their operations in Rhode Island.

PPL Corporation (NYSE: PPL) announced the appointment of Wendy E. Stark as senior vice president, general counsel, and corporate secretary, effective April 12, 2021. She replaces Joanne Raphael, who will transition to executive vice president and chief legal officer until her retirement on June 1, 2021. Stark brings over 20 years of legal experience, primarily in the public utility sector, previously serving at Pepco Holdings. PPL continues to focus on creating long-term stakeholder value and enhancing customer service as it enters a new century of operations.