WASHINGTON (dpa-AFX) - PPL Corporation (PPL) reported a profit for its first quarter that increased from the same period last year and beat the Street estimates.
The company's earnings came in at $414 million, or $0.56 per share. This compares with $307 million, or $0.42 per share, last year.
Excluding items, PPL Corporation reported adjusted earnings of $444 million or $0.60 per share for the period.
Analysts on average had expected the company to earn $0.54 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 8.7% to $2.504 billion from $2.304 billion last year.
PPL Corporation earnings at a glance (GAAP) :
-Earnings: $414 Mln. vs. $307 Mln. last year. -EPS: $0.56 vs. $0.42 last year. -Revenue: $2.504 Bln vs. $2.304 Bln last year.
Looking ahead, for the full year, the company has reaffirmed its guidance. PPL Corporation still expects its annual ongoing earnings to be in the range of $1.75 to $1.87 per share with a midpoint of $1.81 per share. Analysts, on average forecast the firm to earn $1.82 per share, for the full year.
In addition, PPL Corporation has reiterated its projection for 6% to 8% annual earnings per share and dividend growth through at least 2028, with EPS growth expected to be in the top half of the targeted range. The company's projected growth is based off its 2025 forecast midpoint of $1.81 per share.
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