PPL's $23B capex plan is translating into robust rate base expansion, with PPE net up 17.3% YoY to $37.8B in Q2 2026, fueling 4.2% revenue growth and mid-to-high single-digit EPS growth.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue grew 4.2% YoY to $2.1B in Q2 2026, with operating margin at 22.5% and EPS of $0.30, reflecting rate base expansion and stable regulatory margins.
PPL plans a $23 billion capital investment for 2026‑2029 to expand its rate base, targeting smart‑grid upgrades, resiliency projects, and connections for large loads such as data centers. If regulators approve the recovery of these investments, the company expects earnings and EPS to compound at a mid‑to‑high single‑digit target range.
With a beta of 0.24 and below‑market volatility, PPL offers a stable income stream and lower drawdowns. Its regulated utility operations in Pennsylvania, Kentucky, and Rhode Island provide reliable cash‑flow generation.
PPL has a track record of raising its dividend and has pledged 4‑6% annual dividend growth. Recent increases reinforce the income cushion for investors.
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Nov 6, 2026 | $0.54+1.7% vs $0.53 | $2.5B+3.5% vs $2.4B |
Q3 2026 Aug 7, 2026 | $0.33-3.1% vs $0.34 | $2.1B-3.6% vs $2.2B |
Q2 2026 May 8, 2026 | $0.63+2.3% vs $0.62 | $2.8B+10.6% vs $2.5B |
Q1 2026 Feb 20, 2026 | $0.41+0.2% vs $0.41 | $2.3B-6.0% vs $2.4B |
Although the revenue and EPS for PPL (PPL) give a sense of how its business performed in the quarter ended September 2026, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
PPL Corporation ( PPL ) Q3 2026 Earnings Call November 6, 2026 11:00 AM EST Company Participants Andy Ludwig - Vice President of Investor Relations Vincent Sorgi - President, CEO & Director Joe Bergstein - Executive VP & CFO Conference Call Participants Shahriar Pourreza - Wells Fargo Securities, LLC, Research Division Michael Lonegan - Barclays Bank PLC, Research Division Diana Niles - JPMorgan Chase & Co, Research Division Julien Dumoulin-Smith - Jefferies LLC, Research Division Steven Fleishman - Wolfe Research, LLC Richard Sunderland - Truist Securities, Inc., Research Division David Arcaro - Morgan Stanley, Research Division Nicolas Woods - BofA Securities, Research Division Presentation Operator Good day, and welcome to the PPL Corporation Third Quarter 2026 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded.
PPL beats Q3 earnings and revenue estimates on higher rates and sales volumes, while raising its long-term EPS growth target and unveiling a $25B investment plan.
PPL (PPL) came out with quarterly earnings of $0.54 per share, beating the Zacks Consensus Estimate of $0.53 per share. This compares to earnings of $0.48 per share a year ago.
Benchmark PPL against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for PPL Corporation (PPL)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $35.80 | $26.94B | 20.56 | 6.85% | 13.62% | 8.74% | 2.98% | |
| $112.85 | $31.23B | 19.68 | 15.43% | 17.9% | 11.55% | 2.5% | |
| $115.87 | $37.74B | 21.04 | 13.96% | 17.54% | 12.45% | 3.02% | |
| $87.54 | $20.18B | 19.49 | 1.65% | 16.7% | 10.18% | 3% | |
| $50.64 | $10.46B | 18.81 | 9.21% | 16.61% | 11.14% | 3.33% | |
| $40.23 | $3.32B | 13.65 | 1.34% | 12.75% | 8.87% | 4.88% |
PPL Corporation (PPL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
PPL Corporation (PPL) SEC filings — annual & quarterly reports (10-K, 10-Q)
Aug 7, 2026·SEC
Jun 30, 2026·SEC
Jun 4, 2026·SEC
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PPL Corporation (PPL) stock FAQ — growth, dividends, profitability & financials explained
PPL Corporation (PPL) reported $9.66B in revenue over the trailing twelve months. Revenue was $9.04B in fiscal year 2025. That is 211% more than the $2.91B of fiscal year 1996.
PPL Corporation (PPL) grew revenue by 7.6% over the trailing twelve months, compared with the twelve months before.
Yes. PPL Corporation (PPL) earned $1.31B in net income over the trailing twelve months (a 13.6% net margin).
Yes. PPL Corporation (PPL) pays a dividend that yields 2.98% at the current price, a moderate yield.
PPL Corporation (PPL) had a return on equity (ROE) of 8.7% over the trailing twelve months. That is below the market's typical 10-15%.
PPL Corporation (PPL) generated $251.0M in free cash flow over the trailing twelve months.
PPL Corporation (PPL) has a dividend payout ratio of 67%. This suggests the dividend is well-covered and sustainable.
