PPL Corp. (PPL) reaffirmed its 2023 earnings forecast range of $1.50 to $1.65 per share. The midpoint, $1.58 per share, represents a 7% increase over the per share midpoint of PPL's 2022 pro forma earnings per share range. The company reaffirmed its 6% to 8% annual EPS and dividend growth targets through at least 2026 off the midpoint of the 2023 earnings forecast range.
PPL announced a 7% increase in quarterly common stock dividend, raising the dividend from $0.225 per share to $0.24 per share. The increased dividend will be payable April 3, 2023, to shareowners of record as of March 10, 2023.
PPL also reaffirmed its planned infrastructure investments, targeting $12 billion in improvements from 2023 to 2026 to strengthen grid reliability and resiliency and economically replace aging coal generation with reliable, least-cost and clean energy sources.
Fourth-quarter reported earnings were $190 million, or $0.26 per share, compared with reported earnings of $134 million, or $0.18 per share, prior year. Adjusting for special items, fourth-quarter 2022 earnings from ongoing operations were $209 million, or $0.28 per share, compared with earnings from ongoing operations of $163 million, or $0.22 per share. Analysts on average had expected the company to earn $0.28 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
Fourth quarter revenue rose 53.7% to $2.29 billion from $1.49 billion last year. Analysts on average had estimated $1.62 billion in revenue.
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April 10, 2026 16:21 ET Inflation data from the U.S. was the main data event this week as the conflict in the Middle East continue. The minutes of the latest Fed policy session and the survey data on the services sector also made headlines. In Europe, manufacturing orders data from Germany was in focus. Price data from China drew attention in Asia.