PPL Corporation announced second-quarter 2026 reported earnings of $230 million, or 30 cents per share, compared with second-quarter 2025 reported earnings of $183 million, or 25 cents per share.

PPL reported earnings of $682 million, or 90 cents per share for the first six months of 2026, compared with reported earnings of $597 million, or 80 cents per share, for the first six months of 2025.

Adjusting for special items, second-quarter 2026 earnings from ongoing operations (non-GAAP) were $247 million, or 33 cents per share, compared with $240 million, or 32 cents per share, a year ago.

Earnings from ongoing operations for the first six months of 2026 were $725 million, or 96 cents per share, compared with $684 million, or 92 cents per share, for the first six months of 2025.

“Our solid second-quarter results demonstrate continued execution across our regulated utility portfolio and keep us on track to deliver our 2026 commitments,” said Vincent Sorgi, PPL president and chief executive officer. “We are benefiting from disciplined cost management, strong operational focus and timely recovery of prudent investments that strengthen service for customers. Those investments are designed to modernize the grid, improve system resilience and support growing demand in a way that protects our existing customers while delivering long-term shareowner returns.

“With constructive regulatory frameworks across our jurisdictions and a clear capital investment plan, we believe PPL is well positioned to capture emerging growth opportunities while maintaining our commitment to affordability and reliability.”

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. The company continues to expect stronger earnings growth in the second half of 2026, supported by improved rate recovery and capital tracking mechanisms that enable timely recovery of investments.

PPL also reaffirmed its projection of 6% to 8% annual earnings-per-share 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. The company expects stronger earnings growth beginning in 2027 and continuing through 2029. PPL’s business plan does not include any earnings contributions or capital investments related to Invitium Energy, LLC, its 51% joint venture with Blackstone Infrastructure to build and operate generation resources to directly support data centers in Pennsylvania.

PPL continues to see growing development and interest from data center developers and other large energy users across its Pennsylvania and Kentucky service territories, creating greater visibility into future infrastructure and generation investment opportunities.

The company estimates current economic development activity in its Pennsylvania and Kentucky service territories could present $10 billion to $12 billion of total investment upside through 2032 tied to generation needs. The estimated opportunity includes regulated generation investment to support growing demand in Kentucky, as well as PPL’s ownership interest in generation development opportunities through Invitium Energy in Pennsylvania.

In Pennsylvania, Invitium Energy remains focused on building, owning and operating new generation to serve new data center demand under long-term energy supply services agreements. The joint venture has secured land sites capable of supporting 8 GW to 14 GW of new generation capacity, depending on the type of generation resources built, and it continues to develop and build its inventory of viable generation sites. PJM has accepted more than 5 GW of Invitium Energy generation interconnection requests, and the joint venture has secured reservation agreements for more than 5 GW of combined-cycle gas turbines.

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.