PPL Corp. Maintains Guidance Amid Growing Data Center Investment Opportunities
On August 7, PPL Corporation (NYSE:PPL) reported second-quarter earnings with strong results and reaffirmed its long-term growth targets. Earnings from ongoing operations rose slightly to $0.33 per share compared to the prior year's $0.32. The company maintained full-year guidance of $1.90–$1.98 per share and reiterated a 6%–8% annual earnings growth target through 2029. PPL highlighted significant investment opportunities in Pennsylvania and Kentucky, estimating up to $12 billion in generation investments by 2032 due to the growing data center demand. The company's joint venture with Blackstone Infrastructure, Invitium Energy, is also pursuing substantial projects worth an estimated $12.5–$15 billion. Despite these opportunities, PPL’s balance sheet shows signs of strain from increased capital spending and rising debt levels. Cash reserves dropped sharply in the first half of 2026 while long-term debt rose to nearly $19.8 billion.
Tickers: $PP9
Topics: data centers energy growth strategy