Data Center Boom Drives Expansion
Operational Highlights
Full-Year Results: 2025 reported GAAP earnings were $1.59 per share, compared to $1.20 in 2024.
Cost Savings: The company achieved $170 million in annualized operations and maintenance savings since 2021, reaching its efficiency targets a year ahead of schedule.
Rate Case Progress: PPL noted the recent approval of a $233 million revenue increase in Kentucky and continues to advance a base rate case in Pennsylvania, with a decision expected in June 2026.
Segment Performance
Pennsylvania Regulated: Ongoing earnings rose to $0.21 per share in Q4, driven by higher transmission revenue and distribution rider recovery.
Kentucky Regulated: Ongoing earnings grew to $0.19 per share in Q4, primarily due to higher sales volumes from weather and returns on additional capital investments.
Rhode Island Regulated: Ongoing earnings edged up to $0.03 per share in Q4, compared to $0.02 a year prior.
PPL continues to project a Funds from Operations (FFO) to debt ratio of 16% to 18% throughout its updated plan period, maintaining its investment-grade credit ratings
2026 Guidance and Dividend Hike
PPL issued a bullish forecast for 2026, setting an earnings range of $1.90 to $1.98 per share. The midpoint of $1.94 represents a 7.2% increase over the $1.81 earned for the full year of 2025.
The company also extended its annual earnings-per-share growth target of 6% to 8% through at least 2029.
Reflecting confidence in its cash flow, PPL’s Board of Directors increased the quarterly common stock dividend by 4.6% to $0.2850 per share, payable April 1, 2026.