PPL Corporation reported third-quarter net income of $367 million, 15% above the prior year’s quarter, and raised its long-term annual earnings-per-share (EPS) growth target to 7% to 9% through at least 2030.
The results were released on the date PPL had set in its earlier schedule announcement. PPL filed a Form 8-K with the U.S. Securities and Exchange Commission on Nov. 6, listing operating results, Regulation FD disclosures and financial statements, and attaching the release as Exhibit 99.1.
Reported diluted EPS rose 14%, to 49 cents from 43 cents. Earnings from ongoing operations, a non-GAAP measure adjusted for special items, were $411 million, or 54 cents per share, compared with $355 million, or 48 cents, a year earlier.
PPL narrowed its 2026 ongoing earnings forecast to $1.92 to $1.96 per share, from a previous range of $1.90 to $1.98; the midpoint remains $1.94. The 2027 forecast is $2.06 to $2.14 per share. The company raised its former annual EPS growth target of 6% to 8%, measuring the new goal from the midpoint of its 2026 ongoing earnings forecast.
The capital plan for 2027 through 2030 is $25 billion, $2 billion above PPL’s prior plan. Most of the increase reflects plans for an additional natural gas combined-cycle unit in Kentucky to meet projected demand from large customers. PPL projects average annual rate-base growth of 10% from 2026 through 2030. The company says approved tariffs are designed to assign system expansion costs to customers adding substantial demand, helping limit the burden on existing customers.
PPL also said Invitium Energy and QTS agreed on all key commercial terms in a nonbinding term sheet for about two gigawatts of generation for QTS’s data center project in Salem Township, Pennsylvania. The term sheet is subject to customary conditions. PPL said further generation investment depends on customer agreements and regulatory approval.
