PPL $27.54
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Here are some reasons to learn more about PPL:

Commitment:

PPL has grown from a company with customers and facilities in one region of Pennsylvania to a diverse, super-regional energy company with more than 10 million customers in the United States and the United Kingdom, as well as about 19,000 megawatts of generating capacity from the East Coast to the Pacific Northwest.

The family of PPL companies — from Pennsylvania, to Kentucky, to Montana, to England and Wales — has built an enduring reputation for safety, the highest quality customer service, environmental stewardship and exemplary corporate citizenship.

Our solid mix of high-performing businesses creates an attractive investment for shareowners. And it has produced results for investors: consistently solid earnings and payment of dividends for more than 250 consecutive quarters.

Performance:

  • PPL announced third-quarter reported earnings of $444 million, or $0.76 per share, up from $248 million, or $0.51 per share, a year ago. For the first nine months of 2011, PPL’s reported earnings were $1.04 billion, or $1.91 per share, compared with $583 million, or $1.40 per share, a year ago. 

  • PPL’s reported per share earnings in the third quarter of 2011 included special items that netted to zero. Reported earnings in the third quarter of 2010 reflected net special item charges of $0.23 per share.

  • Special item credits recorded in the third quarter of 2011 were $0.12 per share due to a change in the U.K. corporate income tax rate, $0.02 per share for foreign currency-related economic hedges and $0.01 per share for cost recoveries in connection with a litigation settlement related to spent nuclear fuel storage. Special item charges were $0.12 per share for U.K. employee separation costs and $0.03 per share for energy-related economic activity. 

  • Adjusting for special items, PPL’s earnings from ongoing operations for the third quarter were $439 million, or $0.76 per share, compared with $358 million, or $0.74 per share a year ago. For the first nine months of 2011, earnings from ongoing operations were $1.1 billion, or $2.02 per share, compared with $954 million, or $2.29 per share, a year ago.

  • PPL’s earnings from ongoing operations for the first nine months of 2011 were $0.62 per share lower due to dilution from the June 2010 and April 2011 issuances of common stock to fund the acquisitions of regulated utility operations in Kentucky and the United Kingdom. Earnings from ongoing operations for the third quarter of 2011 were $0.15 per share lower due to dilution from the April 2011 issuance.

  • The strong performance of PPL’s portfolio of regulated businesses ― coupled with the ability of its competitive supply business to offset the negative impact of the unplanned turbine blade-replacement outages at its Susquehanna nuclear plant ― underscores the value that the business mix provides for shareowners.

  • PPL’s shift to a more regulated business portfolio allows the company to perform well in the current economic environment, while the competitive supply business also preserves a substantial upside potential when wholesale electricity prices recover.

Reported earnings are calculated in accordance with generally accepted accounting principles (GAAP) in the U.S. Earnings from ongoing operations is a non-GAAP financial measure that is adjusted for special items. Special items include acquisition-related costs and the impact of energy-related economic activity (principally changes in fair value of economic hedges and the ineffective portion of qualifying cash flow hedges), as well as other impacts fully detailed at the end of this news release. 

“Earnings from ongoing operations” should not be considered as an alternative to reported earnings, or net income attributable to PPL, which is an indicator of operating performance determined in accordance with generally accepted accounting principles (GAAP). PPL believes that “earnings from ongoing operations,” although a non-GAAP financial measure, is also useful and meaningful to investors because it provides management’s view of PPL’s fundamental earnings performance as another criterion in making investment decisions. PPL’s management also uses “earnings from ongoing operations” in measuring certain corporate performance goals. Other companies may use different measures to present financial performance.

“Earnings from ongoing operations” is adjusted for the impact of special items. Special items include: 

  • Energy-related economic activity (as discussed below).
  • Foreign currency-related economic hedges.
  • Gains and losses on sales of assets not in the ordinary course of business.
  • Impairment charges (including impairments of securities in the company’s nuclear decommissioning trust funds).
  • Workforce reduction and other restructuring impacts.
  • Acquisition-related costs and charges.
  • Other charges or credits that are, in management’s view, not reflective of the company’s ongoing operations.


For more information, contact PPL Investor Services at 1-800-345-3085.

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