PPL lower as guidance disappoints; raises carbon emissions reduction goal

Feb. 14, 2020 12:52 PM ETPPL Corporation (PPL)PPLBy: Carl Surran, SA News Editor14 Comments
  • PPL Corp. (PPL -2.6%) slides after topping Q4 earnings estimates but revenues came in light, and the midpoint of its FY 2020 EPS guidance is below analyst consensus.
  • PPL also raised its quarterly dividend by just 0.6% to $0.415/share from $0.4125.
  • Q4 net income fell to $364M from $415M in the year-ago period, and revenue inched higher to $1.95B but came in short of analyst consensus of $2.08B.
  • PPL sees 2020 EPS of $2.40-$2.60 compared with $2.53 consensus, and cuts 2021 guidance to $2.40-$2.60 from its previous outlook of $2.50-$2.80, reflecting lower expected foreign currency exchange rate forecasts.
  • The company also raises its carbon emissions reduction goal to 80% from 2010 levels by 2050 and advances its prior 70% reduction goal by 10 years to 2040, with plans to achieve the goals through various actions including replacing Kentucky coal-fired generation over time with a mix of renewables and natural gas.

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