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MarketScreener Homepage  >  Equities  >  Nyse  >  PPL Corporation    PPL


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PPL Corporation : Reports Third-Quarter 2020 Earnings

11/06/2020 | 09:21am EST

ALLENTOWN - PPL Corporation (NYSE: PPL) on Thursday (11/5) announced third-quarter 2020 reported earnings (GAAP) of $281 million, or $0.37 per share, compared with third-quarter 2019 reported earnings of $475 million, or $0.65 per share.

Reported earnings for the first nine months of 2020 were $1.18 billion, or $1.53 per share, compared with $1.38 billion, or $1.89 per share, for the first nine months of 2019.

Adjusting for special items, third-quarter 2020 earnings from ongoing operations (non-GAAP) were $450 million, or $0.58 per share, compared to $445 million, or $0.61 per share, a year ago.

Earnings from ongoing operations for the first nine months of 2020 were $1.39 billion, or $1.81 per share, compared to $1.38 billion, or $1.88 per share, for the first nine months of 2019.

'Despite the ongoing challenge of COVID-19, we continue to provide superior customer service and reliability across all of our service territories, to strengthen grid resilience, and to deliver when it matters most for our hospitals, first responders and the many people now working and learning from home,' said Vincent Sorgi, PPL president and chief executive officer.

'And while COVID-19 and milder weather through the first half of the year have impacted PPL's ongoing earnings, we are on track to achieve the low end of our earnings guidance and have narrowed our 2020 guidance range to $2.40 to $2.50 per share from the prior range of $2.40 to $2.60 per share.'

Looking ahead, the company continues to invest in a sustainable energy future through innovation, network upgrades and support for research and development, including the Low-Carbon Resources Initiative recently announced by the Electric Power Research Institute and Gas Technology Institute. The company also continues to invest in smart grid technology to make its electricity service even more reliable, adding that its PPL Electric Utilities subsidiary in Pennsylvania recently marked 1 million customer outages avoided since 2015 as a result of the robust deployment of automated smart grid technology.

Regarding PPL's U.K. business, the company said its formal process to sell the Western Power Distribution business remains on track. While there can be no assurance of any specific outcome, including whether it will result in the completion of any transaction, the company continues to expect to announce a transaction in the first half of 2021.

Third-Quarter 2020 Earnings Details

As discussed in this news release, reported earnings are calculated in accordance with U.S. Generally Accepted Accounting Principles (GAAP). 'Earnings from ongoing operations' is a non-GAAP financial measure that is adjusted for special items.


Andy Ludwig

Tel: 610-774-3389

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2020 7 974 M - -
Net income 2020 1 832 M - -
Net Debt 2020 23 361 M - -
P/E ratio 2020 11,8x
Yield 2020 5,88%
Capitalization 21 689 M 21 689 M -
EV / Sales 2020 5,65x
EV / Sales 2021 5,72x
Nbr of Employees 12 280
Free-Float 99,9%
Duration : Period :
PPL Corporation Technical Analysis Chart | PPL | US69351T1060 | MarketScreener
Technical analysis trends PPL CORPORATION
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 30,19 $
Last Close Price 28,21 $
Spread / Highest target 13,4%
Spread / Average Target 7,03%
Spread / Lowest Target -0,74%
EPS Revisions
Managers and Directors
Vincent Sorgi President, Chief Executive Officer & Director
William Harold Spence Non-Executive Chairman
Joseph P. Bergstein Chief Financial Officer & Senior Vice President
John W. Conway Lead Independent Director
Craig A. Rogerson Independent Director
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