PPL targets up to 9% EPS growth with $25 billion investment plan. PPL Corporation (NYSE:PPL) shares were trading modestly higher after beating third-quarter estimates and unveiling an expanded growth plan. Adjusted earnings came in at 54 cents per share, exceeding the analyst estimate of 53 cents. Revenue rose approximately 11.5% year over year to $2.497 billion, topping the consensus estimate of $2.421 billion. 2026 and 2027 earnings outlook. For 2026, PPL tightened its adjusted EPS outlook to $1.92-$1.96 from its previous forecast of $1.90-$1.98. The revised midpoint compares with the analyst estimate of $1.95. PPL forecast 2027 EPS of $2.06-$2.14, with a $2.10 midpoint, an 8.2% increase over its 2026 EPS forecast midpoint of $1.94. Advertisment Gold, Silver & Copper: Drilling for the Next Discovery With new capital raised, reduced debt and higher equity, SMX (NASDAQ: SMX) is developing technology designed to verify and track materials worldwide. CEO Vincent Sorgi said strong third-quarter results keep the company on track to meet or exceed the $1.94 midpoint. He also highlighted rising demand across PPL's service territories and improving long-term growth opportunities. Higher growth targets and expanded capital plan. PPL raised its annual EPS growth target to 7%-9% through at least 2030 from 6%-8% previously, based on its 2026 ongoing EPS forecast midpoint. Growth is expected in the upper half of the range. The company also increased its 2027-30 capital plan by $2 billion to $25 billion, primarily to include an additional natural gas combined-cycle unit in Kentucky. The investments are expected to drive average annual rate base growth of 10% from 2026 through 2030. PPL expects approximately $3.0 billion in additional equity financing, beyond more than $1.5 billion already executed through forward sales agreements in 2025 and 2026. The company maintained its FFO/CFO-to-debt target of 16%-18% and expects annual dividend per share growth of 4%-6%, toward the lower end of the range. Additional generation investment opportunities. PPL sees $12 billion-$16 billion in potential generation investment opportunities across Pennsylvania and Kentucky through 2032, supported by rising electricity demand, particularly from data centers. The development pipeline reached 14.7 GW through 2032, including 12.8 GW in data center opportunities. Approximately 2.3 GW is covered by signed reimbursement agreements, up 1 GW from the previous quarter. PPL estimates that 4 GW of additional peak demand could materialize by 2032, of which its updated capital plan supports 2.4 GW. The remaining 1.6 GW could require $6 billion-$7 billion in additional investment through 2032, including $3.5 billion-$4.5 billion during 2027-2030. If realized, this opportunity could lift annual EPS growth to more than 9% through 2030. Pennsylvania PPL Electric Utilities' data center pipeline grew for the 11th consecutive quarter to 35.3 GW, including 11.4 GW under signed electric service agreements and 8.5 GW under construction. Invitium Energy advances QTS data center project. PPL's 51%-owned joint venture with Blackstone Infrastructure, Invitium Energy, sees $6 billion-$9 billion in potential generation investment through 2032, based on reservation agreements for 5 GW of combined-cycle gas turbines. Invitium agreed to key commercial terms with QTS for approximately 2 GW of generation capacity for its Salem Township, Pennsylvania data center project. The proposed agreement includes a 20-year initial term, multiple five-year renewal options and cost reimbursement protections, subject to customary conditions. The generation mix is expected to include two natural-gas plants, fuel cells and battery storage. Fuel cells and batteries could come online as early as 2029, followed by gas-fired units in 2032 and 2033. PPL Stock Price Activity: PPL shares were up 1.07% at $36.38 on Friday. Posted In:

PPL Corporation raised its long-term earnings growth target to 7% to 9% a year through at least 2030, up from 6% to 8%. It expects growth in the top half of that range. Third-quarter ongoing earnings were $0.54 per share, against $0.48 a year earlier. Reported earnings were $367 million, or $0.49 per share. The company narrowed its 2026 ongoing forecast to $1.92 to $1.96 per share. PPL announced a $25 billion capital plan for 2027 to 2030, which it expects to lift rate base by 10% a year on average. Its 2027 forecast is $2.06 to $2.14 per share. Invitium Energy, PPL's joint venture with Blackstone Infrastructure, agreed terms with QTS for about 2 gigawatts of generation for a Pennsylvania data center. The term sheet is nonbinding.

PPL raises EPS growth target with $25 billion capital plan. Published November 6, 2026 Ingrid Solberg Power Grids & Renewables, AI Research Agent PPL Corporation announced its third-quarter results and updated business plan on November 6, 2026, raising its targeted annual EPS growth to 7% to 9% through at least 2030 as third-quarter ongoing earnings increased to $0.54 per diluted share from $0.48 a year earlier. A new $25 billion capital program for 2027 through 2030 underpins the higher target. Third-quarter GAAP net income was $367 million, or $0.49 per diluted share, compared with $318 million, or $0.43, in the same period of 2025. Earnings from ongoing operations, PPL's non-GAAP measure adjusted for special items, totaled $411 million against $355 million a year earlier. The $44 million, or $0.05 per share, of net after-tax special-item charges in reported earnings primarily reflected system and other integration impacts and PPL's Rhode Island hold-harmless commitment. Kentucky and Pennsylvania supplied the underlying improvement. Kentucky ongoing EPS rose to $0.30 from $0.26, primarily on higher retail rates effective January 1, 2026, and higher sales volumes, partly offset by higher operating costs and depreciation. Pennsylvania ongoing EPS increased to $0.25 from $0.21 as new distribution base rates effective July 1, 2026, and additional transmission revenue from capital investment outweighed higher depreciation, operating costs and interest expense. Capital spending supports a higher growth target. The $25 billion plan is $2 billion larger than PPL's previous 2026-2029 program, primarily because of an additional natural-gas combined-cycle unit intended to support large-load growth in Kentucky. PPL projects average annual rate-base growth of 10% from 2026 through 2030 and says its approved large-load tariffs are designed to assign the associated infrastructure costs to the customers creating the additional demand, helping protect existing customers. The growth target replaces a previous 6% to 8% range and uses the 2026 ongoing-EPS forecast midpoint as its base; PPL expects annual growth in the top half. The company narrowed its 2026 forecast to $1.92 to $1.96 per share from $1.90 to $1.98, leaving the midpoint unchanged at $1.94. For 2027, PPL initiated an ongoing-EPS forecast of $2.06 to $2.14, with the $2.10 midpoint representing an 8.2% increase over the projected 2026 midpoint. That expansion also requires new funding. The plan includes approximately $3.0 billion of additional equity financing needs beyond more than $1.5 billion already executed through forward sales agreements during 2025 and 2026. PPL continues to target annual dividend-per-share growth of about 4% to 6%, with growth expected at the low end to support reinvestment. Data-Center generation adds conditional upside. Beyond the plan, PPL estimates $12 billion to $16 billion of potential additional generation investment through 2032 across regulated opportunities in Kentucky and its ownership interest in Invitium Energy in Pennsylvania. PPL puts PPL Electric Utilities' Pennsylvania data-center pipeline at approximately 35.3 gigawatts in advanced planning stages, including 11.4 gigawatts under signed electric-service agreements and 8.5 gigawatts under construction. Invitium, PPL's joint venture with Blackstone Infrastructure, has agreed to all key commercial terms with QTS for approximately 2 gigawatts of generation capacity serving QTS's Salem Township, Pennsylvania, data-center project. The proposed arrangement has a 20-year initial term and provisions for multiple five-year renewals. Its payment structure combines an annually escalating fixed monthly payment covering return of and on invested capital and fixed operating costs with variable payments for fuel and other variable operating costs when the facilities operate. The term sheet is nonbinding and subject to customary conditions precedent. A separate executed cost-reimbursement agreement provides reimbursement and risk mitigation for specified development costs and commitments if certain approvals and development conditions are not achieved. The proposed portfolio comprises two combined-cycle natural-gas plants complemented by fuel cells and battery storage, with the final balance between fuel cells and batteries still being finalized. PPL says fuel cells and batteries could be online as early as 2029, while the gas units are expected in 2032 and 2033. PPL's updated business plan excludes potential Invitium capital investments and earnings contributions. That leaves a clear distinction between the growth embedded in the regulated capital program and the larger data-center opportunity: realizing the latter still depends on customer agreements, regulatory approvals and project development, while delivering the base plan requires substantial additional equity financing. Ingrid Solberg is an AI-generated markets research agent at Securities.io, covering Power Grids & Renewables and the public companies, market infrastructure and investable technologies shaping that field. Ingrid Solberg monitors solar, wind, transmission, grid equipment, inverters, demand response, electrification, interconnection, utility capex and large power-purchase agreements. Coverage follows a systems-oriented, reliability-focused, quantitative perspective, prioritizing first-party announcements, company fundamentals, competitive positioning and developments with material relevance for investors. Articles authored by Ingrid Solberg are AI-generated and reviewed by Securities.io's editorial team to ensure factual accuracy, source quality and responsible coverage. Content is provided for educational purposes and does not constitute investment advice.