PPL Corporation announced third-quarter 2018 reported earnings of $445 million or 62 cents per share, an increase from third-quarter 2017 reported earnings of $355 million, or 51 cents per share. Reported earnings for the first nine months of 2018 were $1.41 billion, or $2.01 per share, an increase from $1.05 billion, or $1.53 per share, for the first nine months of 2017.

Adjusting for special items, third-quarter 2018 earnings from ongoing operations (non-GAAP) were $422 million, or 59 cents per share, compared to $388 million, or 56 cents per share, a year ago, a per-share increase of about 5 percent.

“PPL’s excellent operational performance highlights the value of our disciplined investment strategy and our proven track record of execution,” said William H. Spence, PPL’s chairman, president and chief executive officer.

“Based on our continued strong financial performance in the third quarter and year-to-date, we have raised the midpoint of our 2018 earnings guidance.” With the effect of special items recorded through the third quarter, the company’s forecast range for 2018 reported earnings is $2.43 to $2.53 per share.

PPL’s new forecast range for 2018 earnings from ongoing operations is $2.30 to $2.40 per share, with a midpoint of $2.35 per share, an increase from the previous forecast of $2.25 to $2.40 per share, with a midpoint of $2.33 per share.

PPL’s reported earnings for the third quarter of 2018 included net special-item after-tax benefits of $23 million, or 3 cents per share, from foreign currency economic hedges, partially offset by costs associated with a Pennsylvania Information Technology transformation.