PPL Corporation (PPL) official guidance

We also remain on track to complete approximately $5.1 billion of planned investments in 2026, supporting the delivery of safe, reliable, and affordable energy for our customers.

We’re on pace to complete $5.1 billion in 2026 infrastructure investments to strengthen and modernize our electric and gas networks, build new generation resources in Kentucky and improve customer service while maintaining affordability for our customers.

The company is targeting approximately $5.1 billion in infrastructure investments in 2026, including investments to construct generation in Kentucky, expand transmission networks to support new data centers, and further improve transmission and distribution safety and reliability in both the electricity and natural gas businesses across all of its service territories.

Longer term, we continue to project approximately $23 billion of capital investment through 2029, resulting in average annual rate base growth of 10.3%.

We project capital investment needs of $23 billion from 2026 through 2029, up from $20 billion in our prior plan period.

In addition, the company updated its capital investment plan to $23 billion from 2026 through 2029, compared to the prior plan of $20 billion from 2025 to 2028.

We also continue to target annual dividend growth of 4%-6%, along with strong credit metrics throughout our plan period, which support a very compelling risk-adjusted total return for our share owners.

As part of its updated business plan and increased capital investment program, the company now targets annual dividend growth of 4% to 6% to support reinvestment while continuing to deliver top-tier shareowner returns.

PPL’s 2026 earnings from ongoing operations forecast range is $1.90 to $1.98 per share, with a midpoint of $1.94 per share.

Based on these results and our outlook for the remainder of the year, we are reaffirming our 2026 ongoing earnings guidance of $1.90-$1.98 per share, with a midpoint of $1.94 per share.

Based on the company’s financial performance year to date, PPL reaffirmed its 2026 ongoing earnings forecast range of $1.90 to $1.98 per share with a midpoint of $1.94 per share.

For 2026, we're issuing ongoing earnings guidance of $1.90-$1.98 per share, with a midpoint of $1.94 per share, representing 7.2% growth from 2025.

PPL today announced a 2026 earnings forecast range of $1.90 to $1.98 per share, with a midpoint of $1.94 per share.

PPL also reaffirmed its projection of 6% to 8% annual earnings-per-share (EPS) growth through at least 2029 and continues to expect compound annual growth near the top end of that range compared with 2025 actual ongoing earnings.

We're also reaffirming our long-term financial targets, including 6%-8% annual EPS growth through at least 2029, with compound annual growth expected near the top end of that range.

The company also reaffirmed its projection of 6% to 8% annual earnings-per-share (EPS) growth through at least 2029.

We're extending our 6%-8% annual EPS growth target through at least 2029, expecting the EPS CAGR through 2029 to be near the top end of that range based off of our 2025 ongoing earnings.

PPL also extended its 6% to 8% annual EPS growth target through 2029. The company expects to achieve compound annual growth near the top end of its targeted range through at least 2029 off of 2025 actual ongoing earnings of $1.81 per share, with stronger growth beginning in 2027 and continuing through 2029.

The company estimates the additional generation represents $3.5 billion to $4.0 billion of incremental investment need between 2027 and 2032.

The 5 GW of turbine capacity alone represents $12.5 billion to $15.0 billion of potential future investment opportunities at the joint-venture level through 2032.

Based on our updated planning assumptions, we now project approximately 3.5 GW of expected new load by 2032, compared to about 1.8 GW assumed in our most recent CPCN forecast.

Longer term, we continue to project approximately $23 billion of capital investment through 2029, resulting in average annual rate base growth of 10.3%.

The result of these investments is an estimated rate base CAGR of about 10.3%, providing a strong foundation for predictable and durable earnings growth.

These investments are expected to result in approximately 10.3% average annual rate base growth through 2029.

To support the significant capital needs over the updated business plan, PPL projects approximately $3 billion of equity needs from 2026 through 2029.

The company continues to project a Funds from Operations (FFO)/Cash Flow from Operations (CFO) to debt ratio of 16% to 18% throughout its updated plan period.