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PPL Q2 ongoing earnings rise YOY, beating consensus estimates

PPL Corp. on Aug. 6 posted earnings from ongoing operations of $422 million, or 58 cents per share, in the second quarter of 2019, an increase from $384 million, or 55 cents per share, a year earlier.

The S&P Global Market Intelligence consensus normalized earnings estimate for the quarter was 56 cents per share.

The utility reported GAAP earnings of $441 million, or 60 cents per share, compared to $515 million, or 73 cents per share, in the corresponding quarter of the previous year.

Operating revenues totaled $1.80 billion, down from $1.85 billion a year prior. The utility also reported operating income of $640 million, a decline from $658 million in the second quarter of 2018.

"Our regulated utilities continued to deliver strong operational performance in the second quarter, making planned investments to strengthen grid resiliency, delivering electricity and natural gas reliably, facilitating distributed energy resources, and once again earning recognition for industry-leading customer satisfaction in the regions we serve," said William Spence, PPL chairman and CEO.

PPL reaffirmed its 2019 earnings from ongoing operations forecast of $2.30 per share to $2.50 per share, with a midpoint of $2.40 per share. The company also maintained its 2021 earnings guidance range of $2.50 per share to $2.80 per share.