PPL Corp

PPL: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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PPL Earnings: Significant Capital Investment Opportunities to Support Electricity Growth

Andrew Bischof

Nov 1, 2024

We are maintaining our $31 per share fair value estimate for narrow-moat PPL after the company reported third-quarter operating earnings of $0.42 per share compared with $0.43 in the same year-ago period. Management narrowed its full-year 2024 EPS guidance to $1.67 to $1.73 from the previous range of $1.63 to $1.75. Our full-year estimate is unchanged. Management also reaffirmed its 6% to 8% annual earnings and dividend growth outlook through 2027, consistent with our 7% growth estimate.

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PPL Corp

PPL Earnings: Significant Capital Investment Opportunities to Support Electricity Growth

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