Analyst Consensus ?
ConsensusBuy29 ratings
Bullish2172.4%
Neutral827.6%
Bearish00.0%
PPL Corporation · PPL · FY2025 Q4 · Calendar Q1 2026
PPL maintains growth plan as data-center demand lifts investment
The supplied analysis supports a constructive operating thesis: PPL met its 2025 ongoing-earnings target, maintained 2026 guidance, and linked growth to data-center load, grid modernization, and new generation. The case is balanced by regulatory, financing, construction, weather, and hyperscaler-demand risks.
Reported Before market openNYSEUtilities
$24.06B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.41
Consensus $0.41
EPS surprise
+0.2%
Reported versus consensus
Reported revenue
$2.27B
Consensus $2.42B
Revenue surprise
-6.0%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+1.3%
Event window
SPY move
+0.7%
Same window
Abnormal move
+0.5%
Stock minus SPY
Volume
1.5×
Versus trailing sessions
Subsequent drift
-2.4%
Up to 20 sessions
PPLSPY benchmark
Ask FN2 about PPL FY2025 Q4
Transcript, numbers and history already loaded
Why did PPL rise 1.3% after beating EPS estimates in FY2025 Q4?What changed in PPL's guidance and outlook in FY2025 Q4?Give me the bull and bear case for PPL after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
PPL raised its 2026-2029 capital investment plan to $23 billion, reported a data-center pipeline of approximately 25 GW, and described a Blackstone joint venture aimed at new hyperscaler generation. Management also maintained 2026 guidance of $1.90-$1.98 per share and extended its 6%-8% EPS CAGR target through 2029.
Guidance delta
Management maintained guidance: 2026 earnings of $1.90-$1.98 per share, with the 6%-8% EPS CAGR target extended through 2029.
Key takeaways
- 2025 ongoing earnings of $1.81 per share met guidance and represented 7.1% year-over-year growth.
- The 2026 earnings range of $1.90-$1.98 per share implies 7.2% growth, according to the supplied analysis.
- The 2026-2029 capital investment plan increased to $23 billion.
- The data-center pipeline reached approximately 25 GW, with 10 GW expected under ESAs by year-end.
- Blackstone is positioned to support new generation capacity for hyperscalers, but timing and earnings contribution remain questions.
Management priorities
- Execute the expanded grid-hardening, transmission, distribution, and generation investment plan.
- Advance data-center interconnections and associated generation capacity in Pennsylvania and Kentucky.
- Develop the Blackstone joint venture and new Kentucky generation assets.
- Deploy AI-driven digital customer service, mobile-app improvements, and advanced metering.
- Continue equity issuance and use of the ATM program to fund investments while maintaining affordability and credit quality.
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Estimate
Beat
Miss
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Analyst 52W Price Targets
$31.97Previous close
$28.5Low
$37.52Average
$48High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Sep 25, 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 |
|---|---|---|---|---|
| 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 |
| Wells Fargo | Overweight | Overweight | Maintain | Jan 20, 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 previous close $31.97. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | David Arcaro | $39 | $33.36 | +22.0% | Sep 18, 2026 |
| RBC Capital | Stephen D\'Ambrisi | $35 | $33.79 | +9.5% | Sep 15, 2026 |
| Jefferies | Paul Zimbardo | $44 | $35.04 | +37.6% | Aug 25, 2026 |
| Evercore ISI | Analyst unavailable | $42 | $36.02 | +31.4% | Aug 17, 2026 |
| BMO Capital | James Thalacker | $38 | $35.08 | +18.9% | Aug 10, 2026 |
| Raymond James | Analyst unavailable | $39 | $35.85 | +22.0% | Jul 20, 2026 |
| Barclays | Analyst unavailable | $41 | $36.07 | +28.2% | Jul 14, 2026 |
| BMO Capital | James Thalacker | $39 | $35.52 | +22.0% | Jun 5, 2026 |
| Mizuho Securities | Anthony Crowdell | $37 | $35.16 | +15.7% | Jun 5, 2026 |
| BMO Capital | Analyst unavailable | $40 | $36.06 | +25.1% | May 11, 2026 |
| Barclays | Analyst unavailable | $39 | $35.91 | +22.0% | May 11, 2026 |
| Morgan Stanley | Analyst unavailable | $43 | $38.44 | +34.5% | Apr 21, 2026 |
| Seaport Global | Analyst unavailable | $42 | $39.17 | +31.4% | Apr 20, 2026 |
| Jefferies | Analyst unavailable | $48 | $39.58 | +50.1% | Apr 13, 2026 |
| UBS | Analyst unavailable | $41 | $36.8 | +28.2% | Feb 23, 2026 |
| Morgan Stanley | David Arcaro | $42 | $37.54 | +31.4% | Feb 20, 2026 |
| Mizuho Securities | Anthony Crowdell | $39 | $37.57 | +22.0% | Feb 18, 2026 |
| Barclays | Analyst unavailable | $37 | $37.18 | +15.7% | Jan 22, 2026 |
| Wells Fargo | Analyst unavailable | $41 | $36.83 | +28.2% | Jan 20, 2026 |
| UBS | Greg Orrill | $36 | $33.98 | +12.6% | Dec 17, 2025 |
| Wells Fargo | Analyst unavailable | $45 | $33.47 | +40.8% | Dec 12, 2025 |
| Morgan Stanley | David Arcaro | $40 | $35.5 | +25.1% | Nov 20, 2025 |
| Wells Fargo | Analyst unavailable | $43 | $37.46 | +34.5% | Oct 27, 2025 |
| Morgan Stanley | Analyst unavailable | $41 | $37.82 | +28.2% | Oct 22, 2025 |
| BTIG | Alex Kania | $44 | $37.52 | +37.6% | Oct 21, 2025 |
| BMO Capital | James Thalacker | $41 | $37.67 | +28.2% | Oct 21, 2025 |
| Barclays | Nicholas Campanella | $40 | $37.44 | +25.1% | Oct 14, 2025 |
| UBS | Analyst unavailable | $39 | $36.94 | +22.0% | Oct 10, 2025 |
| Evercore ISI | Nicholas Amicucci | $43 | $37.15 | +34.5% | Oct 6, 2025 |
| Morgan Stanley | Analyst unavailable | $38 | $36.16 | +18.9% | Sep 25, 2025 |
| Jefferies | Paul Zimbardo | $39 | $32.66 | +22.0% | Oct 21, 2024 |
| Jefferies | Paul Zimbardo | $38 | $31.79 | +18.9% | Sep 19, 2024 |
| Bank of America Securities | Paul Cole | $34 | $31.34 | +6.3% | Aug 29, 2024 |
| Argus Research | Jacob Kilstein | $33 | $28.18 | +3.2% | Jun 10, 2024 |
| Morgan Stanley | David Arcaro | $32 | $28.64 | +0.1% | May 28, 2024 |
| Wells Fargo | Neil Kalton | $32 | $28 | +0.1% | May 2, 2024 |
| Argus Research | Jacob Kilstein | $30 | $27.18 | -6.2% | Mar 8, 2024 |
| Seaport Global | Angie Storozynski | $28.5 | $26.08 | -10.9% | Aug 4, 2023 |
| Morgan Stanley | Analyst unavailable | $26 | $27.42 | -18.7% | Nov 11, 2022 |
| Bank of America Securities | Paul Zimbardo | $33 | $30.24 | +3.2% | Aug 15, 2022 |
| Mizuho Securities | Anthony Crowdell | $29 | $27.85 | -9.3% | Jul 26, 2022 |
| Evercore ISI | Greg Gordon | $30 | $27.05 | -6.2% | Jul 7, 2022 |
| Credit Suisse | Analyst unavailable | $33 | $29.76 | +3.2% | Apr 26, 2022 |
| Morgan Stanley | Analyst unavailable | $32 | $30.12 | +0.1% | Apr 20, 2022 |
| Wolfe Research | Steve Fleishman | $30 | $26.58 | -6.2% | Mar 10, 2022 |
| RBC Capital | Shelby Tucker | $31 | $26.81 | -3.0% | Feb 22, 2022 |
| Citigroup | Ryan Levine | $33 | $28.97 | +3.2% | 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
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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 · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-25T08:30:57.414350+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-25T08:30:57.411152+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 2026-09-25. For educational purposes only; not investment advice.