PPL (PPL) Company Report

PPL Electric Utilities filed a joint petition with the Pennsylvania PUC seeking an annual base distribution revenue increase of $275 million, its first rate hike since 2016, to fund system reliability and customer support enhancements.
If approved, new base distribution rates would take effect July 1, 2026, with no further distribution rate changes for two years thereafter.
The settlement resets the DSIC to 0% (capped at 5%), raises annual Storm Damage Expense Rider recovery to $32 million, and supports capitalization of $54 million of IT upgrades through the fully projected future test year ending June 30, 2027.
A new large-load tariff (LP-6) is established, requiring customer commitments while providing $11 million in funding for the residential low-income program.
Estimated customer bill impacts under Jan. 1, 2026 rates: residential +$7.42, commercial +$4.64, and industrial +$382.63 per month.

4 hours ago

8-K

PPL Electric Utilities proposes first distribution rate increase since 2016

PPL

PPL Electric Utilities filed a non-unanimous settlement with the Pennsylvania Public Utility Commission seeking to boost annual base distribution revenues by $275 million, marking its first base rate increase since 2016.
The proposal underpins investments in system reliability—such as pole replacements, smart-grid enhancements and upgraded animal/avian guards—and bolsters customer affordability through expanded hardship credits and weatherization funding.
It includes new provisions for net-metered generation customers, a dedicated large-load rate class ($11 million support for low-income programs) and enhanced support for small businesses.
If approved, rates would take effect July 1, 2026, with no further base rate hikes for two years; estimated monthly bill impacts are +$7.42 for 1,000 kWh residential users, +$4.64 for commercial users and +$382.63 for industrial users (150,000 kWh).

4 hours ago

Press Release

PPL Electric Utilities reaches settlement in Pennsylvania distribution rate case

PPL

Legal Proceedings

On March 5, 2026, PPL Electric Utilities reached a non-unanimous settlement in principle in its distribution rate case filed with the Pennsylvania Public Utility Commission, with the agreement notice posted on March 6, 2026.
The settlement resolves all issues except for limited opposition from two parties concerning the company’s maximum registered peak load proposal.
A Joint Petition for approval of the non-unanimous settlement will be filed on March 10, 2026, and is subject to Administrative Law Judges’ and PUC approval.
PPL Electric Utilities anticipates a PUC ruling by the end of Q2 2026.

7 days ago

8-K

Pembina Pipeline reports Q4 and full-year 2025 results

PPL

Earnings

Guidance Update

New Projects/Investments

Full-year 2025 earnings of CAD 1.694 billion and Adjusted EBITDA of CAD 4.289 billion; cash flow from operating activities of CAD 3.301 billion (CAD 5.68 per share) and adjusted cash flow of CAD 2.854 billion (CAD 4.91 per share).
2026 guidance for Adjusted EBITDA of CAD 4.125 billion–CAD 4.425 billion (midpoint implies ~5% CAGR in fee-based EBITDA per share); year-end debt/EBITDA expected at 3.7–4.0× (3.4–3.7× excluding Cedar LNG debt).
Sanctioned CAD 625 million of expansions on the Peace Pipeline system, including Fox Creek–Mayo (70,000 bpd), Birch–Taylor and Taylor–Gordondale, plus a 30,000 bpd LPG export agreement with AltaGas.
Cedar LNG construction over 35% complete; long-term LNG offtakes signed with PETRONAS and Ovintiv. Greenlight Electricity Centre secured grid allocation, turbine deliveries, and targets a final investment decision in H1 2026.

Feb 27, 2026, 3:00 PM

Transcript

Pembina Pipeline reports Q4 and FY2025 results and provides 2026 guidance

PPL

Earnings

Guidance Update

New Projects/Investments

Q4 2025 Adjusted EBITDA was CAD 1.075 billion, down 14% YoY; net earnings were CAD 489 million and volumes averaged 3.7 mmboe/d, up 1% YoY.
FY 2025 results included Adjusted EBITDA of CAD 4.289 billion, earnings of CAD 1.694 billion, operating cash flow of CAD 3.301 billion (CAD 5.68/share) and adjusted operating cash flow of CAD 2.854 billion (CAD 4.91/share).
2026 Adjusted EBITDA guidance is CAD 4.125–4.425 billion, with year-end proportionally consolidated debt/EBITDA expected at 3.7–4.0× (3.4–3.7× excluding Cedar LNG financing).
Advanced CAD 625 million in conventional pipeline expansions (Fox Creek–Namao, Birch–Taylor, Taylor–Gordondale); LPG export capacity increased, Cedar LNG construction > 35% complete and Greenlight Electricity Centre FID expected H1 2026.

Feb 27, 2026, 3:00 PM

Transcript

Pembina Pipeline reports Q4 2025 results

PPL

Earnings

Guidance Update

New Projects/Investments

Pembina Pipeline reported Q4 2025 earnings of CAD 489 million, Adjusted EBITDA of CAD 1.075 billion, and adjusted cash flow from operating activities of CAD 731 million (CAD 1.26 per share); full-year 2025 results included earnings of CAD 1.694 billion, Adjusted EBITDA of CAD 4.289 billion, and adjusted cash flow of CAD 2.854 billion (CAD 4.91 per share).
Total Q4 volumes were 3.7 million boe/d, up 1% year-over-year, while record annual pipeline and facilities throughput rose 3% over 2024.
Advanced key growth projects—RFS IV fractionator, Wapiti expansion, and K3 cogeneration—on time and on budget; announced CAD 625 million of expansions (Fox Creek to Mayo, Birch to Taylor, Taylor to Gordondale) to add ~140,000 bpd of capacity.
Provided 2026 guidance of CAD 4.125–4.425 billion in Adjusted EBITDA, with year-end proportionally consolidated net debt/EBITDA of 3.7–4.0× (or 3.4–3.7× excluding Cedar LNG debt), anticipating leverage to peak in 2026 before returning to 3.5–4.25×.

Feb 27, 2026, 3:00 PM

Transcript

PPL Corp completes issuance of 23 million equity units

PPL

Debt Issuance

Convertible Preferred Issuance

On February 23, 2026, PPL Corporation and PPL Capital Funding entered into an underwriting agreement for 20 million equity units, granting underwriters an option for 3 million more, and completed the sale of 23 million Corporate Units on February 26, 2026.
Each Corporate Unit has a $50 stated amount and comprises (i) a stock purchase contract to buy PPL common stock on February 15, 2029, and (ii) a 1/40 undivided interest in each of PPL Capital Funding’s 4.02% Remarketable Senior Notes due 2034 and due 2039, both fully guaranteed by PPL.
Total annual distributions on the units are 7.00% of the stated amount, consisting of 2.98% per year in contract adjustment payments and 4.02% per year of interest on the RSNs.
The 4.02% RSNs were issued under the Indenture dated November 1, 1997, as amended by Supplemental Indenture No. 19 (2034 RSNs) and No. 20 (2039 RSNs) on February 26, 2026.

Feb 26, 2026, 9:11 PM

8-K

PPL prices $1 billion equity units offering

PPL

Debt Issuance

Convertible Preferred Issuance

PPL priced a $1.0 billion equity units offering of 20 million units at $50 each, expected to close on February 26, 2026.
Each unit includes a contract to purchase PPL common stock and a 1/40 undivided interest in 4.02% remarketable senior notes due 2034 and 2039.
Total distributions on the units will be 7.00% per year, comprising interest on the notes and contract adjustment payments; stock purchase contracts settle by February 15, 2029 with a reference price of $37.2606.
Net proceeds of $981 million (or up to $1.128 billion if the over-allotment is exercised) will repay short-term debt and fund general corporate purposes; underwriters have a 13-day option for 3 million additional units.
PPL intends to list the units on the NYSE, with trading expected to commence within 30 days of issuance, subject to approval.

Feb 24, 2026, 2:49 AM

Press Release

PPL announces Q4 2025 results and updates outlook

PPL

Earnings

Guidance Update

Dividends

PPL reported Q4 2025 ongoing EPS of $0.41 (GAAP $0.36; special items $0.05) and FY 2025 ongoing EPS of $1.81 (GAAP $1.59).
Announced 2026 EPS forecast of $1.90 – $1.98 (midpoint $1.94), extending 6 – 8% annual EPS growth target through 2029 with a CAGR near the top end (2025 ongoing EPS $1.81).
Raised quarterly dividend to $0.285 per share (annualized $1.14), a 4.6% increase, and updated 4 – 6% annual dividend growth target with a 50–60% payout ratio.
Increased utility capex plan to $23 billion (2026–2029), supporting a 10.3% rate base CAGR over the period.
Secured rate orders boosting annual revenues by $233 million with a base ROE of 9.775%, and Pennsylvania rate case evidentiary hearing held; decision due June for rates effective July 1, 2026.

Feb 20, 2026, 4:00 PM

Presentation

PPL reports Q4 2025 results and updates guidance

PPL

Earnings

Guidance Update

New Projects/Investments

For 2026, EPS guidance of $1.90–$1.98 (midpoint $1.94), reflecting 7.2% growth and extending a 6%–8% EPS CAGR target through 2029.
FY 2025 GAAP EPS $1.59 vs $1.20 in 2024; ongoing EPS $1.81, driven by returns on capital investments, higher transmission revenues, and cost savings.
Capital plan totaling $23 billion from 2026–2029 (up from $20 billion), supporting an estimated 10.3% rate-base CAGR, with $3 billion equity needs (≈$2 billion remaining) and a 5% dividend increase to $0.285 per quarter.
Advanced project pipeline includes ~25.2 GW under executed agreements, ~10 GW under ESAs by Q1, plus >9 GW potential new load in Kentucky, validating demand for new generation.

Feb 20, 2026, 4:00 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for PPL.

Q4 2025

Feb 20, 2026

→

Q3 2025

Nov 7, 2025

→

View All Transcripts

Ask Fintool AI Agent

Get instant answers from SEC filings, earnings calls & more

What did Vincent Sorgi say about margins?What are PPL's strategic priorities?How is PPL positioned vs competitors?How did PPL do last quarter?

PPL (PPL)

Analyst Earnings Quarterly Reports

Q3 2025

Q2 2025

Q1 2025

Q4 2024

Executives

Vincent Sorgi

David Bonenberger

Dean Del Vecchio

Joseph Bergstein Jr.

Lonnie Bellar

Wendy Stark

Board Members

Armando Zagalo de Lima

Arthur Beattie

Craig Rogerson

Heather Redman

Keith Williamson

Linda Sullivan

Natica von Althann

Phoebe Wood

Raja Rajamannar

Analyst Coverage

Jeremy Tonet

Paul Zimbardo

Angie Storozynski

Anthony Crowdell

David Paz

Shahriar Pourreza

Steve Fleishman

Agnieszka Storozynski

David Arcaro

Aaron MacNeil

Benjamin Pham

Bill Appicelli

Durgesh Chopra

Julien Dumoulin-Smith

Maurice Choy

Michael Lonegan

Patrick Kenny

Praneeth Satish

Robert Catellier

Robert Hope

Sam Burwell

Shar Pourreza

Spiro Dounis

Sumantra Banerjee

Theresa Chen

Angie Storozinski

Gregg Orrill

Ian Rapp

James Kennedy

Paul Patterson

Latest news

Earnings Transcripts

Q4 2025

Q3 2025

Ask Fintool AI Agent