PPL Expects Top-tier 6% To 8% EPS And Dividend Growth Through At Least 2026; Guides FY23 EPS In Line

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PPL Expects Top-tier 6% To 8% EPS And Dividend Growth Through At Least 2026; Guides FY23 EPS In Line

(RTTNews) - PPL Corp. (PPL) announced Wednesday an updated business plan that is expected to generate top-tier 6 to 8 percent earnings and dividend growth through at least 2026 with strong growth opportunities beyond. The company also expects $14.3 billion of capital investments through 2026, a more than 20% increase from prior plan.

PPL said it expects 2023 earnings in the range of $1.50 to $1.65 per share. On average, 11 analysts polled by Thomson Reuters currently expect the company to report earnings of $1.59 per share for the year. Analysts' estimates typically exclude special items.

The company also announced that it expects to increase its next quarterly common stock dividend by 7 percent to $0.24 per share from the current dividend of $0.225 per share, subject to approval by the Board of Directors.

Additionally, PPL announced that utility industry veteran Linda Sullivan has joined its Board of Directors, effective January 10, 2023. She will serve on PPL's Compensation and Finance committees. With Sullivan's appointment, PPL's board comprises 10 directors.

Sullivan spent nearly three decades in the utility industry, serving as executive vice president and chief financial officer of American Water Works Company, Inc., from 2014 to 2019, and more than 20 years in a variety of leadership roles with Edison International.

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PPL Promotes Francis Sullivan To Succeed Gregory Dudkin As COO

PPL Promotes Francis Sullivan To Succeed Gregory Dudkin As COO

PPL Corp. (PPL) announced Thursday it has promoted Francis Sullivan to executive vice president and chief operating officer, effective January 1, 2023. Sullivan succeeds Gregory Dudkin, who is on extended medical leave and not expected to return to PPL. Dudkin will remain executive vice president while on medical leave.
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Swiss Market Ends On Positive Note

Swiss Market Ends On Positive Note

The Switzerland market, which held firm till well past noon on Wednesday after a steady start, suffered a setback in the final hour, but managed to recover in the closing minutes to sign off on a positive note. Easing worries about tariffs and some strong results helped underpin sentiment.
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TSX Down Nearly 1% Despite Coming Off Early Lows

TSX Down Nearly 1% Despite Coming Off Early Lows

Despite staging a fairly strong recovery after an early setback, the Canadian market remains firmly down in negative territory a little past noon on Wednesday, with stocks from energy, technology and healthcare sectors reeling under selling pressure. Disappointing Canadian and U.S. GDP data, and Trump administration's policy uncertainty are weighing on sentiment.
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German Inflation At 6-Month Low, Core Figure Accelerates First Time In 4 Months

German Inflation At 6-Month Low, Core Figure Accelerates First Time In 4 Months

Germany's consumer price inflation slowed for a second straight month in April to its lowest level in six months as energy prices continued to fall, but the core price growth accelerated for the first time since December as services cost growth increased, which warrants caution from the European Central Bank that is set to reduce interest rates further.
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U.S. Pending Home Sales Unexpectedly Spike 6.1% March

U.S. Pending Home Sales Unexpectedly Spike 6.1% March

Partly reflecting a substantial increase in the South, the National Association of Realtors released a report on Wednesday showing an unexpected spike by pending home sales in the U.S. in the month of March. NAR said its pending home sales index surged by 6.1 percent to 76.5 in March after jumping by 2.1 percent to a revised to 72.1 in February.
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U.S. Consumer Prices Virtually Unchanged In March, In Line With Estimates

U.S. Consumer Prices Virtually Unchanged In March, In Line With Estimates

A closely watched report released by the Commerce Department on Wednesday showed U.S. consumer prices were virtually unchanged in the month of March. The Commerce Department said its personal consumption expenditures (PCE) price index edged down by less than a tenth of a percent in March after rising by an upwardly revised 0.4 percent in February.
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