PPL Reports Fourth-Quarter Earnings, Misses Analyst Estimates
Allentown, Pennsylvania - PPL Corp. (PPL) posted fourth-quarter net income of $177 million, equivalent to 24 cents per share. After excluding merger and acquisition costs and non-recurring expenses, adjusted earnings reached 34 cents per share.
Analysts had forecasted higher earnings, with the average estimate standing at 37 cents per share according to Zacks Investment Research.
However, PPL exceeded revenue expectations. The company reported $2.21 billion in revenue, surpassing the $2.09 billion anticipated by analysts.
For the full year, PPL reported net income of $888 million ($1.20 per share) on revenue of $8.46 billion.
Looking ahead, PPL projects full-year 2023 earnings in the range of $1.75 to $1.87 per share.