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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
05/03/201612:13:05Additional Proxy Soliciting Materials (definitive) (defa14a)
05/02/201614:39:25Statement of Changes in Beneficial Ownership (4)
04/29/201610:28:33Quarterly Report (10-q)
04/28/201607:27:48Current Report Filing (8-k)
04/28/201607:10:00PPL Corporation Reports First-Quarter Earnings
04/22/201609:39:00PPL completes Northeast-Pocono transmission project
04/21/201609:00:00Customers Saving $250 Million Per Year By Reducing Energy Use
04/18/201611:07:00PPL Corporation to Conduct Webcast on First-Quarter 2016 Earnings...
04/14/201614:52:30Amended Statement of Changes in Beneficial Ownership (4/a)
04/12/201615:38:00Additional Proxy Soliciting Materials (definitive) (defa14a)
04/12/201615:36:08Proxy Statement (definitive) (def 14a)
04/06/201613:48:05Statement of Changes in Beneficial Ownership (4)
04/05/201614:27:09Statement of Changes in Beneficial Ownership (4)
04/05/201614:25:51Statement of Changes in Beneficial Ownership (4)
04/05/201614:24:35Statement of Changes in Beneficial Ownership (4)
04/05/201614:23:20Statement of Changes in Beneficial Ownership (4)
04/05/201614:23:20Statement of Changes in Beneficial Ownership (4)
04/05/201614:21:57Statement of Changes in Beneficial Ownership (4)
04/05/201614:19:46Statement of Changes in Beneficial Ownership (4)
04/05/201614:18:49Statement of Changes in Beneficial Ownership (4)

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