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ALLENTOWN, Pa. , Oct. 20, 2023 /PRNewswire/ -- PPL Corporation (NYSE: PPL) will release consolidated third-quarter 2023 earnings results on Thursday, Nov. 2.
In the latest trading session, PPL (PPL) closed at $24.11, marking a +1.05% move from the previous day.
PPL Corporation's valuation relative to potential upside in the current macro environment does not make sense. PPL has a strong balance sheet and offers 6-8% annual EPS and dividend growth until 2026E. The company's valuation is still above 16x normalized, making it difficult to achieve a 15% annualized rate of return.
PPL made transformative moves in 2021, divesting its UK assets and acquiring Narragansett in the US. The company's focus on dividends has hurt its long-term prospects, with high payout ratios and increasing net debt levels. Second quarter results were weaker than expected, with net debt ticking up and capital spending set to rise further.
PPL Corporation (NYSE:PPL ) Q2 2023 Earnings Conference Call August 4, 2023 10:00 AM ET Company Participants Andy Ludwig - Vice President, Investor Relations Vince Sorgi - President and Chief Executive Officer Joe Bergstein - Chief Financial Officer Conference Call Participants Durgesh Chopra - Evercore ISI Paul Zimbardo - Bank of America David Arcaro - Morgan Stanley Shar Pourreza - Guggenheim Partners Gregg Orrill - UBS Anthony Crowdell - Mizuho Operator Good day, and welcome to the PPL Corporation Second Quarter 2023 Earnings Conference Call. [Operator Instructions] Note that this event is being recorded.
PPL's second-quarter 2023 earnings decline year over year, while revenues increase. Total electricity sales decline during the same period.
PPL (PPL) came out with quarterly earnings of $0.29 per share, missing the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.30 per share a year ago.
ALLENTOWN, Pa. , July 21, 2023 /PRNewswire/ -- PPL Corporation (NYSE: PPL) will release consolidated second-quarter 2023 earnings results on Friday, Aug. 4.
DTE Energy (DTE) appears to be a better utility electric power stock than PPL at present.
PPL makes a strong case for investment, given its earnings growth prospects, strong return on equity and ability to increase shareholders' value.