PPL Stock Price, News & Analysis

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.

PPL Corporation reported Q3 2022 earnings of $174 million ($0.24 per share), down from $207 million ($0.27) in Q3 2021. Ongoing earnings rose to $305 million ($0.41 per share), up from $277 million ($0.36). For the first nine months, earnings were $566 million ($0.77) compared to a net loss of $1.61 billion ($2.10) in 2021. The company raised its 2022 ongoing earnings forecast midpoint to $1.40 (from $1.37) and narrowed the range to $1.35-$1.45. PPL remains confident in achieving 6-8% annual EPS and dividend growth through 2025.

Aspen Power Partners has acquired Safari Energy from PPL Corporation for $350 million, significantly strengthening its position in the distributed solar market. This acquisition is among the largest in the commercial and industrial (C&I) solar sector, adding over 600 projects and a total of 220 MW of operating and under-construction assets. With Carlyle's support, Aspen aims to achieve gigawatt scale by mid-decade, enhancing its capabilities to meet the growing demand for solar and storage solutions.

PPL Corporation (NYSE: PPL) and Elia Group's WindGrid have signed a memorandum of understanding to develop transmission solutions for integrating offshore wind energy into the New England grid. This collaboration leverages PPL's expertise in U.S. onshore transmission alongside Elia Group's experience with offshore networks. Both companies aim to respond to a request for information from five New England states for upcoming renewable energy integration plans. Recent studies predict up to 30,000 megawatts of offshore wind capacity could be deployed in the region by 2050.

PPL Corporation (NYSE:PPL) will release its consolidated third-quarter 2022 earnings results on November 4, 2022. CEO Vincent Sorgi and the executive team will discuss these results and the company's outlook during a conference call scheduled for 11 a.m. Eastern Time. The call will be available via live webcast and audio format, with a replay accessible for 90 days afterwards. PPL serves over 3.5 million customers and focuses on building resilient power grids while advancing sustainable energy solutions.