Q3 2024 PPL Corp Earnings Call Transcript
Key Points
- PPL Corp (PPL) reported third-quarter GAAP earnings of $0.29 per share, with adjusted earnings from ongoing operations at $0.42 per share, indicating strong financial performance.
- The company narrowed its 2024 ongoing earnings forecast to a range of $1.67 to $1.73 per share, reflecting confidence in its financial outlook.
- PPL Corp (PPL) is on track to complete approximately $3.1 billion in infrastructure improvements in 2024, enhancing reliability and resilience.
- The company is well-positioned for 6% to 8% annual earnings per share and dividend growth through at least 2027, supported by a $14.3 billion capital plan.
- PPL Corp (PPL) successfully integrated Rhode Island Energy, completing the transition services and enhancing operational efficiency.
- Third-quarter earnings from ongoing operations decreased by $0.01 per share compared to Q3 2023, impacted by higher operating and financing costs.
- The cost of new generation resources has increased significantly, affecting the generation mix and planning.
- PPL Corp (PPL) faces uncertainties related to environmental regulations, which could impact future resource planning and costs.
- The company is dealing with higher operating costs in Pennsylvania, including increased storm costs and vegetation management expenses.
- There are potential challenges in executing large-scale capital projects, such as new generation facilities, due to supply chain constraints and labor availability.
Good day. And welcome to the PPL Corporation third-quarter 2024 earnings conference call. (Operator Instructions) Please note this event is being recorded.
I would now like to hand the call to Andy Ludwig, Vice President of Investor Relations. Please go ahead.
Good morning, everyone, and thank you for joining the PPL Corporation conference call on third-quarter 2024 financial results. We have provided slides for this presentation on the Investors section of our website. We'll begin today's call with updates from Vince Sorgi, PPL President and CEO; and Joe Bergstein, Chief Financial Officer. And we'll will conclude with a Q&A session following our prepared remarks.
Before we get started, I'll draw your attention to slide 2 and a brief cautionary statement. Our presentation today contains forward-looking statements about future operating results or other future events. Actual results may differ materially from these forward-looking statements. Please refer to the appendix of this
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