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PPL lists earnings

PPL Corporation announced 2019 reported earnings of $1.75 billion, or $2.37 per share, compared with $1.83 billion, or $2.58 per share, in 2018.

The year-over-year decrease in reported earnings reflects special items related to unrealized gains and losses on foreign currency economic hedges.

Adjusting for special items, 2019 earnings from ongoing operations were $1.81 billion, or $2.45 per share, compared with 2018 ongoing earnings of $1.71 billion, or $2.40 per share.

The company exceeded the midpoint of its ongoing earnings forecast for the 10th straight year.

“As PPL enters its centennial year, I am proud of the positive impact we continue to make for our shareowners, customers and the communities we serve,” said William H. Spence, PPL’s chairman and chief executive officer.

Looking ahead, Spence said the company plans to build on this momentum and extend its track record of operational excellence.

He said PPL is committed to its long-term strategy to deliver best-in-sector operational performance, invest responsibly in a sustainable energy future, provide a superior customer experience, maintain a strong financial foundation, and engage and develop its people.

In addition to announcing fourth-quarter and 2019 earnings, the company announced a 2020 earnings forecast range of $2.40 to $2.60 per share, with a midpoint of $2.50 per share.

PPL also updated its 2021 guidance range to $2.40 to $2.60 per share from the prior range of $2.50 to $2.80 per share, reflecting lower expected foreign currency exchange rate forecasts.