PPL Q2 2020 Earnings Report
Key Takeaways
PPL Corporation announced second-quarter 2020 reported earnings (GAAP) of $344 million, or $0.45 per share, compared with second-quarter 2019 reported earnings of $441 million, or $0.60 per share. Adjusting for special items, second-quarter 2020 earnings from ongoing operations (non-GAAP) were $427 million, or $0.55 per share, compared to $422 million, or $0.58 per share, a year ago. The company reaffirmed its 2020 guidance range of $2.40 to $2.60 per share and withdrew its financial guidance for 2021.
Second-quarter reported earnings were $0.45 per share, and earnings from ongoing operations were $0.55 per share.
The company reaffirmed its 2020 earnings from ongoing operations forecast range of $2.40 to $2.60 per share.
Guidance for 2021 was withdrawn due to the announced process to sell the U.K. business.
PPL Electric Utilities restored power to all 70,000 affected customers within 48 hours following Tropical Storm Isaias.
PPL
PPL
PPL Revenue by Segment
Forward Guidance
PPL reaffirmed its 2020 earnings from ongoing operations forecast range of $2.40 to $2.60 per share, with results expected to track toward the lower end of the guidance range due to COVID-19 and unfavorable weather impacts in the first half of the year.
Challenges Ahead
- COVID-19 impacts
- Unfavorable weather impacts
- Lower sale volumes in the U.K.
- Incremental costs for labor not chargeable to capital projects
- Impact on outside services, customer payment processing, purchases of personal protective equipment and other safety related actions associated with the COVID-19 pandemic.
Revenue & Expenses
Visualization of income flow from segment revenue to net income