ppl corp (PPL) Key Developments
PPL Corporation Declares Quarterly Common Stock Dividend, Payable on April 1, 2015
Feb 27 15
PPL Corporation declared a quarterly common stock dividend on February 27, 2015 of $0.3725 per share, payable April 1, 2015, to shareowners of record as of March 10, 2015.
PPL Corporation to Retire its 153-MW J.E. Corette Coal-Fired Plant Near Yellowstone National Park in August 2015
Feb 11 15
PPL Corp.'s Montana-based independent power producer will permanently retire the 153-MW J.E. Corette coal-fired plant near Yellowstone National Park in August 2015, taking back an earlier plan to mothball the plant this spring and wait for the economics of coal-fired power to improve. PPL Montana LLC said that it has re-evaluated the 2012 decision to shut the plant down in 2015 but keep the door open for restarting it if wholesale power market conditions in the region change. Upon further analysis, the company found that "the estimated cost of upgrades that would be required to put the plant back in service has increased significantly since 2012, and wholesale power prices in the Northwest remain low," according to the statement. PPL Montana also feared that the MATS costs could be followed by more expensive EPA regulations. The pending rule to limit CO2 emissions under Section 111(d) of the Clean Air Act is a "total unknown. PPL plans to close the plant after more than 46 years in operation.
PPL Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015
Feb 5 15
PPL Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total operating revenues of $4,023 million compared to $2,819 million a year ago. Operating income was $983 million compared to $21 million a year ago. Profit from continuing operations before income taxes was $812 million compared to loss from continuing operations before income taxes of $268 million a year ago. Net income was $695 million or $1.04 basic and diluted per share compared to net loss of $98 million or $0.16 diluted per share a year ago. Adjusting for special items, fourth quarter earnings from ongoing operations were $388 million, or $0.58 per share, compared with $394 million, or $0.60 per share, in the fourth quarter of 2013.
For the year, the company reported total operating revenues of $11,499 million compared to $11,721 million a year ago. Operating income was $3,272 million compared to $2,278 million a year ago. Income from continuing operations before income taxes was $2,364 million compared to $1,260 million a year ago. Net income was $1,737 million or $2.61 diluted per share compared to net income of $1,130 million or $1.76 diluted per share a year ago. Net cash provided by operating activities was $3,403 million compared to $2,857 million a year ago. Expenditures for property, plant and equipment were $4,090 million compared to $4,212 million a year ago. Expenditures for intangible assets were $95 million compared to $95 million a year ago. Book value per share as at December 31, 2014 was $20.47 compared to $19.78 a year ago. Return on average common equity was 13.0% compared to 9.80% a year ago. The company’s 2014 reported earnings include net special-item after-tax benefits of $108 million, or $0.16 per share compared to 2013 reported earnings included net special-item after-tax charges of $461 million, or $0.69 per share.
The company also announced its 2015 earnings forecast range of $2.05 to $2.25 per share, with a midpoint of $2.15 per share.
PPL Corporation Presents at Credit Suisse Energy Summit 2015, Feb-25-2015 08:05 AM
Jan 29 15
PPL Corporation Presents at Credit Suisse Energy Summit 2015, Feb-25-2015 08:05 AM. Venue: Vail Cascade Resort & Spa, 1300 Westhaven Drive, Vail, Colorado, United States. Speakers: William H. Spence, Chairman, Chief Executive Officer, President and Chairman of Executive Committee.
PPL And Riverstone Looking To Sell Assets
Jan 28 15
PPL Corporation (NYSE:PPL) and Riverstone Holdings LLC have agreed to sell either of their power generation assets- group of nine plants that includes PPL's Holtwood hydroelectric plant on the Susquehanna River or a group of seven plants that includes PPL's Ironwood natural gas plant in Lebanon County. PPL spokesman George Lewis said Talen will put both packages on the market and pick from the various offers.