PPL Unveils $23B Infrastructure Plan, Guides 2026 EPS to $1.90–$1.98
PPL reported Q4 ongoing EPS of $0.41 matching forecasts on $2.27B revenue, missing the $2.4B consensus, while GAAP EPS was $0.36. It unveiled a $23B infrastructure plan through 2029, raised its annual EPS growth target to 6–8% with 2026 guidance of $1.90–$1.98, and hiked its dividend 4.6% to $0.285.
1. Q4 Financial Results
PPL posted Q4 ongoing earnings of $0.41 per share, meeting analyst expectations, while revenue of $2.27 billion fell short of the $2.4 billion consensus. On a GAAP basis, Q4 EPS was $0.36.
2. 2025 Operational Achievements
For full-year 2025, PPL delivered $1.81 in ongoing EPS, up 7.1% year-over-year, and GAAP earnings of $1.59 per share, completing $4.4 billion in infrastructure investments and surpassing annual operations and maintenance savings goals.
3. 2026 Guidance and Long-Term Growth Plan
The company forecasts 2026 EPS between $1.90 and $1.98, with a midpoint implying 7.2% growth, and extended its annual EPS growth target to 6%–8% through 2029 alongside a $23 billion infrastructure capital plan from 2026 to 2029.
4. Dividend Hike and Capital Allocation
PPL increased its quarterly dividend by 4.6% to $0.2850 per share, underscoring its commitment to shareholder returns alongside planned grid modernization and generation investments.