PPL Corporation's third quarter 2026 ongoing EPS of $0.54 beat estimates as long-term growth targets were raised

PPL Corporation delivered a solid third quarter beat on both top and bottom lines, driven by higher retail rates in Kentucky and increased transmission revenue in Pennsylvania. Management signaled increased confidence in long-term demand by raising the annual EPS growth target to 7-9% through 2030 and unveiling a massive $25 billion capital investment plan for 2027-2030 to support data center and large-load growth.

Key Highlights

• Ongoing EPS of $0.54 exceeded the consensus estimate of $0.53, while operating revenues of $2.50 billion significantly outperformed the $2.18 billion forecast.
• The company raised its long-term annual EPS growth target to 7%–9% through 2030, up from the previous range of 6%–8%.
• PPL introduced a $25 billion capital plan for 2027–2030, a $2 billion increase over the previous four-year window, targeting a 10% average annual rate base growth.
• Management announced that its Invitium Energy joint venture agreed to terms for 2 GW of generation capacity to supply a major QTS data center project in Pennsylvania.