PPL Corporation beat Q3 earnings expectations and lifted its long-term growth outlook, supported by a $25 billion capital plan and a new 2 GW data center generation agreement with QTS.
Q3 2026 ongoing EPS of $0.54 beat the prior year's $0.48, and PPL raised its annual EPS growth target to 7%-9% through at least 2030 (top half of range) from 6%-8%, with a $25 billion capital plan through 2030 driving 10% annual rate base growth. It also announced a 2 GW Invitium-QTS data center deal with a 20-year initial term. Offsetting positives, the plan requires about $3.0 billion of additional equity financing, a mild dilution risk.
Strong third-quarter results ($0.54 ongoing EPS vs $0.48 a year earlier) and growing large-load/data center demand led PPL to raise its annual EPS growth target to 7%-9% through at least 2030, with growth expected in the top half of that range.
The $25 billion 2027-2030 capital plan requires approximately $3.0 billion of additional equity financing beyond the more than $1.5 billion already executed, and dividend growth is expected at the low end of the 4%-6% range to fund reinvestment.
PPL Corporation reported third-quarter 2026 ongoing earnings of $0.54 per share, up from $0.48 a year ago, prompting the utility to raise its long-term EPS growth target to 7%-9% through 2030. The company also announced a major 2 GW generation deal with QTS data centers via its Invitium Energy joint venture, supporting a $25 billion capital investment plan.
Strong third-quarter results and surging large-load demand from data centers led PPL to increase its annual EPS growth target to 7%-9% through 2030.
The plan requires approximately $3.0 billion in additional equity financing, and dividend growth is expected to remain at the low end of the 4%-6% target range to prioritize reinvestment.