PPL Corp misses second-quarter profit estimates as costs weigh

Aug. 7 (Reuters) - Electric utility PPL Corp narrowly missed second-quarter profit estimates on Friday, hurt by higher interest and operating expenses.

Rising operational expenses are increasingly impacting the financial gains utilities see from steady customer demand.

• The Allentown, Pennsylvania-based utility posted an adjusted profit of 33 cents per share for the quarter ended June 30, compared with analysts' average estimates of 34 cents per share.
• The company's interest expenses rose to $232 million, a 16.6% increase from the year-ago period.
• Higher-for-longer interest rates can weigh on utilities as it makes investing in the construction and maintenance of critical infrastructure such as electrical grids more expensive.
• Operating expenses of PPL edged up to $1.64 billion during the reported quarter, from $1.62 billion a year ago.
• The company reported operating revenues of $2.11 billion, up 4.2% from the year-ago period.
• The company reaffirmed its full-year forecast for adjusted profit of $1.90 to $1.98 per share.