PPL Corporation (PPL) Earnings Call Transcripts

PPL Corporation's Latest Earnings Call - Q2 FY2026

In Q2 2026, PPL Corporation reported ongoing earnings of $0.33 per share, aligning with expectations and reaffirming its full-year guidance of $1.90 to $1.98 per share. Revenue growth is supported by recent rate case outcomes in Pennsylvania and Rhode Island, with a projected capital investment of approximately $5 billion for the year. Management signaled stronger earnings growth in the second half of 2026, driven by regulatory approvals and an expanding capital investment plan.

Reported metrics

Guidance from management

PPL reaffirmed its ongoing earnings forecast range of $1.90 to $1.98 per share for 2026, with expectations for stronger earnings growth in the second half of the year due to recent regulatory outcomes.

What management said

Yes. So we are actively negotiating bilaterally, and we've been doing that way before the PJM RBP process, Michael. So our ability to get to closure on bilateral contracts is irrespective of the PJM process. We did submit proposals into that process just to maximize our customer contacts, but the 2 are not necessarily related given the activity we've been doing before the PJM process.

Yes. So we have not committed yet into bidding into the RVP option. We did provide a proposal for the matchmaking part of the process. right? Ultimately, PJM is looking to come out at the end of September with all of that. We'll ultimately see how that plays out. Just the caps that we're seeing in the PJM auction part of it, those are well below cone on certainly some of the assets that we're talking about, Jeremy. S...

What analysts pressed on

Analysts expressed concerns regarding the timing and potential impact of the PJM capacity matching process on future earnings. There were also questions about the regulatory environment in Pennsylvania and its implications for future rate cases.

Main topics on the call

• Rate Case Outcomes — PPL's recent rate case settlement in Pennsylvania became effective July 1, allowing for a $275 million increase, which supports critical investments while maintaining affordability. Management noted, "PPL Electric's deli...
• Capital Investment Plans — PPL is on track to deploy approximately $5 billion in capital investments in 2026, with a long-term projection of $23 billion through 2029. This supports an average annual rate base growth of over 10%, reflecting strong ...
• Invitium Energy Joint Venture Progress — The Invitium joint venture is advancing with strategic land sites for new generation, with over 5 gigawatts of generation accepted in the PJM interconnection queue. Management indicated, "We expect to have 1 or more comm...
• Data Center Demand — PPL's service territory has seen a 3.5 gigawatt increase in signed data center agreements, totaling about 32 gigawatts. This reflects strong demand and positions PPL favorably for future infrastructure needs.

Read the full PPL Corporation transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 75 PPL Corporation earnings call transcripts on record, spanning February 14, 2020 to August 7, 2026. Based on this history, PPL Corporation reports quarterly. The most recent call on file is dated August 7, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

PPL

Exchange

NYSE

Country

US

Sector

Utilities

Industry

Electric Utilities

Calls on record

75

First call

February 14, 2020

Most recent

August 7, 2026

Reporting cadence

quarterly