PPL Corp Earnings Cheat Sheet: Fifth Consecutive Quarter of Double-Digit Growth

S&P 500 (NYSE:SPY) component PPL Corporation (NYSE:PPL) reported net income above Wall Street’s expectations for the third quarter. PPL Corporation is an energy and utility holding company that generates and markets electricity in the northeastern and western U.S.

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PPL Earnings Cheat Sheet for the Third Quarter

Results: Net income for PPL Corporation rose to $444 million (76 cents per share) vs. $248 million (51 cents per share) in the same quarter a year earlier. This marks a rise of 79% from the year earlier quarter.

Revenue: Rose 43.2% to $3.12 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: PPL beat the mean analyst estimate of 69 cents per share. It beat the average revenue estimate of $2.96 billion.

Quoting Management: “Solid performance from our U.K. operations, including the newly acquired Midlands utilities, allows us to raise the mid-point of our earnings guidance range for the year,” said James H. Miller, PPL’s chairman and chief executive officer. “Given the significant progress made on the integration since closing the U.K. acquisition, we are highly confident in our ability to achieve the economic results we projected for that business.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the second quarter, net income rose more than twofold and in the first quarter, the figure rose 60.4%.

The company has now topped analyst estimates for the last four quarters. It beat the mark by one cent in the second quarter, by 11 cents in the first quarter, and by 26 cents in the fourth quarter of the last fiscal year.

The company’s revenue has now risen for two straight quarters. In the second quarter, revenue increased 65.6% to $2.49 billion from the year earlier quarter.

Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the fourth quarter is 63 cents per share, down from 66 cents ninety days ago. At $2.60 per share, the average estimate for the fiscal year has risen over the past seven days from $2.59.

Competitors to Watch: American Electric Power Co., Inc. (NYSE:AEP), The Southern Company (NYSE:SO), Constellation Energy Group, Inc. (NYSE:CEG), Duke Energy Corporation (NYSE:DUK), FirstEnergy Corp. (NYSE:FE), NextEra Energy, Inc. (NYSE:NEE), The AES Corporation (NYSE:AES), Exelon Corporation (NYSE:EXC), Entergy Corporation (NYSE:ETR), and Portland General Electric Co. (NYSE:POR).

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

(Source: Xignite Financials)

 

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