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PPL Out with Earnings




PPL Corporation (NYSE: PPL) reported fairly dull share prices, as the company today announced 2023 reported earnings (GAAP) of $740 million, or $1.00 per share, compared with 2022 reported earnings of $756 million, or $1.02 per share.

Adjusting for special items, 2023 earnings from ongoing operations (non-GAAP) were $1.18 billion, or $1.60 per share, compared with $1.04 billion, or $1.41 per share, a year ago.

PPL’s fourth-quarter 2023 reported earnings were $113 million, or $0.15 per share, compared with fourth-quarter 2022 reported earnings of $190 million, or $0.26 per share.

Adjusting for special items, fourth-quarter 2023 earnings from ongoing operations were $299 million, or $0.40 per share, compared with fourth-quarter 2022 earnings from ongoing operations of $209 million, or $0.28 per share.

“Despite mild weather, heightened storm activity and challenging macroeconomic factors, we delivered on all of our commitments to shareowners in 2023, provided exceptional reliability for our 3.5 million customers and took significant steps to advance a safe, reliable, affordable and cleaner energy mix,? said CEO Vincent Sorgi. “In addition, we exceeded our target of $50-$60 million in operation and maintenance (O&M) efficiencies, achieving about $75 million in savings from the company’s 2021 baseline.”

PPL shares answered the last opening bell before Presidents Day with a slight gain of five cents to $26.51.



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