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PPL Corporation Earnings Beat on Bottom Line

PPL Corporation (NYSE: PPL  ) announced Q1 2014 earnings today, missing on the top line but beating on the bottom.

For Q1 2014, PPL Corporation saw operating revenue shrink to just $1.2 billion, a far cry from Q1 2013's $2.46 billion and this quarter's expectations of $3.33 billion. But the drop came primarily from a $1.43 billion draw from its unregulated wholesale energy business, which suffered commodity contract losses from the "unusually cold weather." That same cold weather helped push real utility and energy sales significantly higher this quarter.

While PPL's top line plummeted, the utility managed to make more out of its bottom lined. Adjusted earnings per share (EPS) clocked in at $0.80. Analysts had expected Q1 2014 earnings of $0.71 per share, the same as last year's first quarter.

"Our 15% increase in earnings from ongoing operations was driven by strong operational performance at all of the business segments, along with the positive effect of weather across our domestic regulated utilities and competitive generation business," said William Spence, PPL chairman, president, and CEO. "All three regulated businesses outperformed 2013 results, as our capital investments in regulated infrastructure continue to provide benefits to customers and shareowners...In the U.K., we benefited from higher rates and bonus revenues that we earned through best-in-class performance."

Looking ahead, PPL is pushing up its 2014 guidance due to this quarter's outperformance. The company added a dime to its bottom- and top-line estimates, putting the new ranged at $2.15 to $2.30 per share.

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Comments from our Foolish Readers

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  • Report this Comment On May 05, 2014, at 7:14 PM, mixquaker wrote:

    Does anyone edit these articles?

    This article with a May 2014 date on it says PPL is "pushing up its 2013 guidance" and "putting the new ranged at" some number.

    Your other article on PPL written the same day regarding project pullback says "recent news that nine of its municipal customers are terminating their wholesale power contracts, effective 2009" so is 2009 in the future? Is this considered recent news?

  • Report this Comment On May 07, 2014, at 10:05 AM, TMFJLo wrote:


    Thanks for the read and the catches, both articles have been updated with the correct dates.

    Fool on,


  • Report this Comment On May 07, 2014, at 10:07 AM, TMFJLo wrote:


    Thanks for the read and the catches, both articles have been updated with the correct dates.

    Fool on,


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Justin Loiseau

Energy and Macroeconomic Specialist keeping investors up to date with macro news, utilities, and good companies doing good things.

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9/2/2015 4:06 PM
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