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PPL 1Q Profit Up 64% On Prior-Year Charges, Higher Margins

DOW JONES NEWSWIRES PPL Corp.'s (PPL) first-quarter profit jumped 64% on higher prior-year unusual items, while adjusted earnings easily topped analysts' expectations although revenue declined more than expected. The operator of utilities and power plants used the proceeds from the sale of interests in a few power plants to funds its acquisition of two Kentucky utilities owned by the German holding company E.ON AG (EONGY, EOAN.XE). The deal, which closed last year, helped PPL increase its exposure to regulated power markets. PPL posted a profit of $410 million, or 82 cents a share, up from $250 million, or 66 cents a share, a year earlier. Excluding litigation expenses and other impacts, earnings from ongoing operations fell to 84 cents from 94 cents. Revenue slid 3.2% to $2.91 billion. Analysts polled by Thomson Reuters expected a profit of 73 cents on revenue of $2.97 billion. Operating margin increased to 27.7% from 15.8%. Shares of PPL, which reaffirmed its full-year earnings outlook, closed Wednesday at $27.56 and were inactive premarket. -By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com

Stock News for Ppl (PPL)
DateTimeHeadline
09/15/201616:52:33Current Report Filing (8-k)
09/08/201607:54:28Current Report Filing (8-k)
08/29/201610:20:00Williams Adds Three New Directors
08/26/201614:09:03Current Report Filing (8-k)
08/26/201610:09:00PPL to Pay Quarterly Stock Dividend Oct. 3
08/11/201607:38:07Current Report Filing (8-k)
08/10/201609:40:00PPL Electric Utilities warns customers of sophisticated phone...
08/09/201611:48:34Quarterly Report (10-q)
08/09/201608:05:37Current Report Filing (8-k)
08/09/201607:00:00PPL Corporation Reports Second-Quarter Earnings
08/02/201609:32:00PPL Electric Utilities Introduces Automated Power Restoration...
07/19/201608:19:00Utilities' Stocks Under Investors' Scanner -- PPL Corp., CenterPoint...
07/15/201610:46:00PPL Corporation to Conduct Webcast on 2016 Second-Quarter Earnings...
07/13/201611:08:00PPL Electric Utilities retains top residential customer satisfaction...
07/12/201611:16:05Statement of Changes in Beneficial Ownership (4)
07/12/201611:12:09Statement of Changes in Beneficial Ownership (4)
07/06/201614:25:46Statement of Changes in Beneficial Ownership (4)
07/06/201614:25:20Statement of Changes in Beneficial Ownership (4)
07/06/201614:24:27Statement of Changes in Beneficial Ownership (4)
07/06/201614:24:00Statement of Changes in Beneficial Ownership (4)

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