PPL Raises Long-Term EPS Growth Target After Q3 Ongoing EPS of $0.54
PPL Corporation reported third-quarter 2026 ongoing earnings of $0.54 per share, up from $0.48 a year earlier, and raised its long-term annual EPS growth target to 7% to 9% through at least 2030, according to an 8-K furnished Friday.
GAAP earnings were $367 million, or $0.49 per share, compared with $318 million, or $0.43, a year earlier. Ongoing earnings were $411 million. For the first nine months, ongoing EPS was $1.50 versus $1.40.
Guidance and capital plan
PPL narrowed its 2026 ongoing earnings forecast to $1.92 to $1.96 per share and said it is on track for at least the midpoint of $1.94. It provided a 2027 earnings forecast of $2.06 to $2.14 per share, with a midpoint of $2.10 that is an 8.2% increase over the 2026 midpoint.
The company increased its long-term annual EPS growth target to 7% to 9% from a prior 6% to 8% plan and said it expects growth in the top half of the new range. Its $25 billion capital plan for 2027 to 2030 is $2 billion higher than its prior 2026-2029 plan and is projected to drive average annual rate base growth of 10% from 2026 through 2030. The updated plan reflects $3.0 billion of equity financing needs in addition to more than $1.5 billion already executed through forward sales. PPL continues to target annual dividend per share growth of 4% to 6%, with growth expected at the low end of that range.
Data-center generation deal
PPL said Invitium Energy has agreed to terms for 2 gigawatts of generation capacity to supply power to QTS’s Salem Township data center project in Pennsylvania. CEO Vincent Sorgi called the agreement a significant milestone for Invitium Energy. The company also highlighted $12 billion to $16 billion of potential additional generation investment through 2032 that could lift its EPS compound annual growth rate above 9% from 2026 to 2030.
By the numbers
- Q3 ongoing EPS: $0.54 vs $0.48
- Q3 GAAP EPS: $0.49
- 2026 ongoing EPS guidance: $1.92 to $1.96
- 2027 EPS guidance midpoint: $2.10
- 2027-2030 capital plan: $25 billion
Sources
- PPL Form 8-K with third-quarter 2026 earnings release (Exhibit 99.1), filed Nov. 6, 2026 (accession 0000922224-26-000050)
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