PPL Earnings Cheat Sheet: Increase in Profit Year Over Year

S&P 500 (NYSE:SPY) component PPL Corporation (NYSE:PPL) reported its results for the second 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 Second Quarter

Results: Net income for the electric utilities company rose to $196 million (35 cents per share) vs. $85 million (22 cents per share) in the same quarter a year earlier. This is a more than twofold rise from the year earlier quarter.

Actual vs. Wall St. Expectations: PPL fell short of the mean analyst estimate of 44 cents per share.

Quoting Management: “We’re on track to achieve our forecasted 2011 earnings from ongoing operations despite extended unplanned outages to replace turbine blades at both of our Susquehanna nuclear units,” said James H. Miller, PPL’s chairman and chief executive officer. “We expect to mitigate the impact of the Susquehanna outages with strong performance from our U.K. business and positive results in other aspects of our competitive supply business,” Miller said.

Key Stats:

The company fell short of forecasts after beating estimates in the previous two quarters. In the first quarter, it topped the mark by 11 cents, and in the fourth quarter of the last fiscal year, it was ahead by 26 cents.

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).

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(Source: Xignite Financials)