Analyst Consensus ?
ConsensusBuy29 ratings
Bullish2172.4%
Neutral827.6%
Bearish00.0%
PPL Corporation · PPL · FY2025 Q3 · Calendar Q4 2025
PPL: Data-center demand lifts investment case, with regulatory risks
PPL's Q3 analysis supports a constructive growth thesis based on data-center demand, infrastructure investment, and regulatory progress, but the outlook remains dependent on approvals, financing, and execution.
Reported Before market openNYSEUtilities
$24.75B market cap
90quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.48
Consensus $0.46
EPS surprise
+4.4%
Reported versus consensus
Reported revenue
$2.24B
Consensus $2.05B
Revenue surprise
+9.0%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+0.3%
Event window
SPY move
+0.3%
Same window
Abnormal move
-0.0%
Stock minus SPY
Volume
1.4×
Versus trailing sessions
Subsequent drift
-6.1%
Up to 20 sessions
PPLSPY benchmark
Ask FN2 about PPL FY2025 Q3
Transcript, numbers and history already loaded
Why did PPL rise 0.3% after beating EPS estimates in FY2025 Q3?What changed in PPL's guidance and outlook in FY2025 Q3?Give me the bull and bear case for PPL after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management emphasized a larger data-center opportunity, including a 20.5 GW pipeline and at least $1 billion of incremental capital spending, while highlighting regulatory progress and equity-financing actions. The guidance midpoint was maintained.
Guidance delta
Maintained; 2025 earnings guidance was narrowed to $1.78-$1.84 per share while keeping the midpoint unchanged.
Key takeaways
- Q3 results exceeded consensus, with ongoing-operations EPS of $0.48.
- Management maintained the midpoint of 2025 earnings guidance while narrowing the range to $1.78-$1.84 per share.
- A 20.5 GW data-center pipeline is driving incremental infrastructure and generation investment.
- Kentucky and Pennsylvania regulatory progress remains important to the growth plan.
- Equity forward contracts were described as reducing funding risk for planned investments.
Management priorities
- Execute infrastructure improvements and the longer-term investment program
- Advance generation, energy-storage, and data-center power projects
- Pursue Kentucky and Pennsylvania regulatory approvals and rate mechanisms
- Deliver targeted O&M savings and maintain affordability
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$32.45Current
$28.5Low
$37.91Average
$48High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 1, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Overweight | Overweight | Maintain | Sep 28, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Sep 18, 2026 |
| Jefferies | Buy | Buy | Maintain | Aug 25, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Aug 17, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Aug 10, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 20, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 16, 2026 |
| Barclays | Overweight | Overweight | Maintain | Jul 14, 2026 |
| Mizuho | Neutral | Neutral | Maintain | Jun 5, 2026 |
| UBS | Neutral | Neutral | Maintain | Feb 23, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Feb 23, 2026 |
| Guggenheim | Buy | Buy | Maintain | May 1, 2025 |
| RBC Capital | Outperform | Outperform | Maintain | Apr 11, 2024 |
| Argus Research | Buy | Hold | Upgrade | Mar 8, 2024 |
| Seaport Global | Buy | Neutral | Upgrade | Oct 6, 2022 |
| Credit Suisse | Outperform | Outperform | Maintain | Jun 16, 2022 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Mar 9, 2022 |
| CFRA | Strong Buy | Strong Buy | Maintain | Feb 14, 2020 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Dec 16, 2019 |
| Macquarie | Neutral | Underperform | Upgrade | Oct 23, 2019 |
| Bank of America | Neutral | Underperform | Upgrade | Aug 7, 2019 |
| Deutsche Bank | Hold | Buy | Downgrade | Aug 8, 2018 |
| Argus | Buy | Buy | Maintain | May 5, 2018 |
| Goldman Sachs | Neutral | Sell | Upgrade | Jun 26, 2017 |
| Tudor Pickering | Hold | Buy | Downgrade | Jun 2, 2015 |
| Hilliard Lyons | Buy | Buy | Maintain | Sep 30, 2014 |
| Ladenburg Thalmann | Buy | Neutral | Upgrade | Jun 12, 2014 |
| Atlantic Equities | Overweight | Overweight | Maintain | Nov 7, 2013 |
| ISI Group | Buy | Neutral | Upgrade | Jan 7, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $32.46. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Scotiabank | Analyst unavailable | $36 | $32.11 | +10.9% | Sep 29, 2026 |
| Wells Fargo | Shahriar Pourreza | $44 | $32.03 | +35.6% | Sep 28, 2026 |
| Morgan Stanley | David Arcaro | $39 | $33.36 | +20.2% | Sep 18, 2026 |
| RBC Capital | Stephen D\'Ambrisi | $35 | $33.79 | +7.8% | Sep 15, 2026 |
| Jefferies | Paul Zimbardo | $44 | $35.04 | +35.6% | Aug 25, 2026 |
| Evercore ISI | Analyst unavailable | $42 | $36.02 | +29.4% | Aug 17, 2026 |
| BMO Capital | James Thalacker | $38 | $35.08 | +17.1% | Aug 10, 2026 |
| Raymond James | Analyst unavailable | $39 | $35.85 | +20.2% | Jul 20, 2026 |
| Barclays | Analyst unavailable | $41 | $36.07 | +26.3% | Jul 14, 2026 |
| BMO Capital | James Thalacker | $39 | $35.52 | +20.2% | Jun 5, 2026 |
| Mizuho Securities | Anthony Crowdell | $37 | $35.16 | +14.0% | Jun 5, 2026 |
| BMO Capital | Analyst unavailable | $40 | $36.06 | +23.2% | May 11, 2026 |
| Barclays | Analyst unavailable | $39 | $35.91 | +20.2% | May 11, 2026 |
| Morgan Stanley | Analyst unavailable | $43 | $38.44 | +32.5% | Apr 21, 2026 |
| Seaport Global | Analyst unavailable | $42 | $39.17 | +29.4% | Apr 20, 2026 |
| Jefferies | Analyst unavailable | $48 | $39.58 | +47.9% | Apr 13, 2026 |
| UBS | Analyst unavailable | $41 | $36.8 | +26.3% | Feb 23, 2026 |
| Morgan Stanley | David Arcaro | $42 | $37.54 | +29.4% | Feb 20, 2026 |
| Mizuho Securities | Anthony Crowdell | $39 | $37.57 | +20.2% | Feb 18, 2026 |
| Barclays | Analyst unavailable | $37 | $37.18 | +14.0% | Jan 22, 2026 |
| Wells Fargo | Analyst unavailable | $41 | $36.83 | +26.3% | Jan 20, 2026 |
| UBS | Greg Orrill | $36 | $33.98 | +10.9% | Dec 17, 2025 |
| Wells Fargo | Analyst unavailable | $45 | $33.47 | +38.7% | Dec 12, 2025 |
| Morgan Stanley | David Arcaro | $40 | $35.5 | +23.2% | Nov 20, 2025 |
| Wells Fargo | Analyst unavailable | $43 | $37.46 | +32.5% | Oct 27, 2025 |
| Morgan Stanley | Analyst unavailable | $41 | $37.82 | +26.3% | Oct 22, 2025 |
| BTIG | Alex Kania | $44 | $37.52 | +35.6% | Oct 21, 2025 |
| BMO Capital | James Thalacker | $41 | $37.67 | +26.3% | Oct 21, 2025 |
| Barclays | Nicholas Campanella | $40 | $37.44 | +23.2% | Oct 14, 2025 |
| UBS | Analyst unavailable | $39 | $36.94 | +20.2% | Oct 10, 2025 |
| Evercore ISI | Nicholas Amicucci | $43 | $37.15 | +32.5% | Oct 6, 2025 |
| Morgan Stanley | Analyst unavailable | $38 | $36.16 | +17.1% | Sep 25, 2025 |
| Jefferies | Paul Zimbardo | $39 | $32.66 | +20.2% | Oct 21, 2024 |
| Jefferies | Paul Zimbardo | $38 | $31.79 | +17.1% | Sep 19, 2024 |
| Bank of America Securities | Paul Cole | $34 | $31.34 | +4.8% | Aug 29, 2024 |
| Argus Research | Jacob Kilstein | $33 | $28.18 | +1.7% | Jun 10, 2024 |
| Morgan Stanley | David Arcaro | $32 | $28.64 | -1.4% | May 28, 2024 |
| Wells Fargo | Neil Kalton | $32 | $28 | -1.4% | May 2, 2024 |
| Argus Research | Jacob Kilstein | $30 | $27.18 | -7.6% | Mar 8, 2024 |
| Seaport Global | Angie Storozynski | $28.5 | $26.08 | -12.2% | Aug 4, 2023 |
| Morgan Stanley | Analyst unavailable | $26 | $27.42 | -19.9% | Nov 11, 2022 |
| Bank of America Securities | Paul Zimbardo | $33 | $30.24 | +1.7% | Aug 15, 2022 |
| Mizuho Securities | Anthony Crowdell | $29 | $27.85 | -10.6% | Jul 26, 2022 |
| Evercore ISI | Greg Gordon | $30 | $27.05 | -7.6% | Jul 7, 2022 |
| Credit Suisse | Analyst unavailable | $33 | $29.76 | +1.7% | Apr 26, 2022 |
| Morgan Stanley | Analyst unavailable | $32 | $30.12 | -1.4% | Apr 20, 2022 |
| Wolfe Research | Steve Fleishman | $30 | $26.58 | -7.6% | Mar 10, 2022 |
| Wells Fargo | Neil Kalton | $31 | $26.81 | -4.5% | Feb 22, 2022 |
| Citigroup | Ryan Levine | $33 | $28.97 | +1.7% | Sep 10, 2021 |
Track every rating change on PPL the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationPPL Corporation provides electricity and natural gas to approximately 3.6 million customers in the United States. It operates in three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company engages in the transmission and distribution of electricity in eastern and central Pennsylvania; generation, transmission, distribution, and sale of electricity in Kentucky, Virginia, and Rhode Island; distribution and sale of natural gas in Kentucky and Rhode Island; sale of wholesale electricity in Kentucky; and generation of electricity from power plants in Kentucky. It generates electricity from coal, gas, hydro, and solar sources. The company was formerly known as PP&L Resources, Inc. and changed its name to PPL Corporation in 2000. PPL Corporation was founded in 1920 and is headquartered in Allentown, Pennsylvania.
Historical context
All PPL earningsLatest beats and misses
Who reports nextBeat on EPS
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- MUFY2026 Q4 · September 30, 2026+5.4% EPS+0.0% move
- CCLFY2026 Q3 · September 29, 2026+5.9% EPS+13.4% move
- COSTFY2026 Q4 · September 24, 2026+3.2% EPS+2.9% move
Get the PPL recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:36:15.940040+00:00
- Polygon adjusted daily market bars · 2026-10-01T11:46:03.082709+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-01T11:46:03.079880+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-01. For educational purposes only; not investment advice.