PPL Corporation announced first-quarter 2024 reported earnings of $307 million, or 42 cents per share, compared with first-quarter 2023 reported earnings of $285 million, or 39 cents per share.

Adjusting for special items, first-quarter 2024 earnings from ongoing operations (non-GAAP) were $402 million, or 54 cents per share, compared with $352 million, or 48 cents per share, a year ago.

Special items in the first quarters of 2024 and 2023 primarily included integration and related expenses associated with the acquisition of Rhode Island Energy.

“Backed by our solid first-quarter financial performance and continued confidence in our business plan, today we are reaffirming our ongoing earnings forecast range of $1.63 to $1.75 per share, with a midpoint of $1.69 per share,” said Vincent Sorgi, PPL president and chief executive officer.

The company reaffirmed its targeted annual operation and maintenance savings of at least $175 million by 2026 from the company’s 2021 baseline, with $120-$130 million of annual savings planned by the end of 2024.

In addition, PPL reaffirmed its projection of 6% to 8% annual earnings and dividend growth through at least 2027 based off the midpoint of its 2024 ongoing earnings forecast range.