PPL Corp. (PPL) Beats Q3 Earnings Estimates On New Rates
Zacks Investment Research | Oct 31, 2017 10:53PM ET
PPL Corporation (NYSE:PPL) reported third-quarter 2017 adjusted earnings of 56 cents per share, beating the Zacks Consensus Estimate of 53 cents by 5.7%. Earnings benefited from the new electricity and gas rates effective from the third quarter.
However, earnings declined 11.1% year over year, primarily due to lower foreign currency exchange rates and unfavorable weather in the United States.
On a GAAP basis, the company reported earnings per share of 51 cents in the quarter compared with 69 cents a year ago. The difference between GAAP and operating earnings in the reported quarter was due to a loss of 5 cents from foreign currency-related economic hedges.
Total Revenues
PPL Corp.’s total revenues were $1,845 million in the third quarter, missing the Zacks Consensus Estimate of $1,895 million by 2.6%. Revenues also decreased 2.3% year over year.
PPL Corporation Price, Consensus and EPS Surprise
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