Dividend Spark & Long-Term Glow: PPL Outshines Q4 Estimates
Portfolio Pulse from Lekha Gupta
PPL Corp (NYSE:PPL) exceeded Q4 FY23 revenue estimates with $2.03 billion against a $1.90 billion consensus. Despite a 5.0% drop in electricity sales, operating income rose to $390 million, and adjusted EPS was $0.40, surpassing the $0.38 consensus. The company announced a 7.3% dividend increase and projects an EPS of $1.63 to $1.75 for FY24, aiming for 6% to 8% annual EPS and dividend growth through at least 2027. PPL plans to invest $14.3 billion in infrastructure from 2024 to 2027 and targets significant operation and maintenance savings.
February 16, 2024 | 5:16 pm
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PPL Corp reported strong Q4 FY23 results, surpassing revenue and EPS estimates, announced a 7.3% dividend increase, and provided an optimistic outlook for FY24 and beyond with significant infrastructure investments.
PPL's strong Q4 performance and optimistic future projections, including a dividend increase and substantial infrastructure investments, are likely to positively influence investor sentiment and the stock price in the short term.
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RELEVANCE 100