PPL Corporation reported second quarter 2026 ongoing earnings of $0.33 per share on revenue of $2.11 billion, missing analyst expectations for both metrics. Despite the miss, the company reaffirmed its full-year ongoing earnings guidance and its long-term 6% to 8% annual EPS growth target through 2029, citing a significant expansion in its infrastructure and generation investment pipeline driven by data center demand.
Key Highlights
- The Pennsylvania data center pipeline expanded to 31.8 GW in advanced planning stages, with over 11 GW currently under signed electric service agreements.
- Management estimated a potential generation investment upside of $10 billion to $12 billion through 2032 to support economic development in Pennsylvania and Kentucky.
- The Invitium Energy joint venture with Blackstone has secured sites for up to 14 GW of generation and requested 5 GW of interconnection capacity.
- Ongoing earnings growth was supported by higher retail rates in Kentucky and lower operating costs in Rhode Island, partially offset by higher interest and depreciation expenses.