PPL Corp. sees FY24 EPS $1.63-$1.75, consensus $1.70

PPL also extended its competitive 6% to 8% annual EPS and dividend growth targets through at least 2027 based off the midpoint of its 2024 earnings forecast range. The company increased planned infrastructure investments to $14.3 billion from 2024 to 2027 compared to the prior plan of $11.9 billion from 2023 to 2026. These investments are expected to result in 6.3% average annual rate base growth through 2027, up from 5.6% over the prior plan period. The company also said it remains on track to deliver its targeted annual operation and maintenance savings of at least $175 million by 2026, with $120-$130 million of annual savings planned by the end of 2024 from the company’s 2021 baseline. These expected savings will be driven largely by transmission and distribution operations as PPL continues to deploy scalable technologies and data science across its utility portfolio.