FX.co ★ PPL Narrows FY24 Ongoing EPS Outlook Range - Update

In its financial performance report for the third quarter released on Friday, PPL Corp. (PPL) has refined its ongoing earnings guidance, adjusting the projected range to $1.67 to $1.73 per share. This is a slight modification from the previously estimated range of $1.63 to $1.75 per share.

According to a consensus of 15 analysts surveyed by Thomson Reuters, the expectation for PPL's earnings stands at $1.71 per share for the year. It should be noted that these estimates generally exclude any exceptional items.

Furthermore, PPL has reiterated its commitment to achieving an annual growth rate of 6 to 8 percent in both earnings and dividends through at least 2027, based on the midpoint of its initial forecast for ongoing earnings in 2024.

Vincent Sorgi, President and CEO of PPL Corporation, stated, "Given our robust financial performance so far this year and our consistent implementation of the business strategy, we've refined our earnings forecast range for 2024."

In addition to its financial strategies, the company is set to invest over $3 billion in infrastructure enhancements aimed at making the electrical grid more resilient against future storms, and supporting a safe, reliable, cost-effective, and environmentally-friendly energy future by 2024.

PPL has also outlined plans to realize targeted annual operation and maintenance cost reductions of at least $175 million by 2026, based on its 2021 baseline. A cumulative savings of $120 million to $130 million annually is anticipated by the end of 2024.