Table of Contents :
• Stock Rating & Target Price
• Investment Thesis
• Fundamental Models Used
• Company Description
• Corporate Timeline
• Key Metrics (KPI ) and Recently Reported Earnings Review
• Business Highlights, Strategic Announcements & Outlook
• Quarter-over-Quarter (Q-o-Q) and Year-over-Year (Y-o-Y) Growth Analysis
• Key Catalysts Driving Growth
• Historical Financial Statement Analysis & CAGR Trends
• Quarterly Key Financial Ratios and Performance Metrics
• Annual Financial Performance Analysis: Horizontal and Vertical Financial Analysis, Trends
• Financial Forecasts
• Annual Forecasts: Income Statement
• Annual Forecasts: Cash Flow Statements
• Net Debt Levels
• A Closer Look at DCF: Our Assumptions and Methodology
• Terminal Value Calculation
• Target Price Analysis
• Valuation Multiples
• Supplementary Valuation Analysis: Multiples Approach
• Scenario/Sensitivity Analysis – Base Case , Bull Case ,Bear Case
• Holistic Peer Review & Trading Comps: Financial Data, Operational Metrics, and Valuation Multiples
• Implied Price Per Share
• Ownership Activity/ Insider Trades
• Ownership Summary
• An analysis of ESG Risk Rating
• Key Professionals
• Key Board Members
• Key Risks Considerations
• Analyst Ratings
• Analyst Industry Views
• Disclosures
PPL Corporation: A Data Center Hope & Regulatory Uncertainties – How Are They Staying Ahead of the Current?
PPL Corporation delivered a strong Q3 2024, with $2.07B in revenue beating estimates by $151.6M and adjusted EPS of $0.42 in line with expectations, highlighting solid execution amid rising costs and macro pressures. The company’s 6%-8% EPS and dividend growth target through 2027 is underpinned by its $14.3B capital plan and economic development opportunities, particularly in Pennsylvania and Kentucky. Data center demand is a pivotal growth driver, with 8 GW of advanced-stage projects in Pennsylvania and 400 MW in Kentucky offering potential $600-$700M capital opportunities by 2029. The Kentucky Integrated Resource Plan outlines $6-$7B in investments, including natural gas, solar, and battery storage, to meet 3% projected annual electricity demand growth, ensuring PPL stays aligned with clean energy goals and regulatory requirements. Operational efficiencies, with $175M in O&M savings targeted by 2026, bolster margins and customer affordability. Risks include elevated capital program execution challenges, storm-related costs, and regulatory uncertainties tied to Kentucky CPCN filings and Pennsylvania resource adequacy debates. With momentum in economic development and transmission opportunities, clarity on regulatory outcomes and data center milestones could drive further upside. Can PPL navigate near-term challenges and regulatory hurdles to fully capitalize on its growth catalysts and maintain its differentiated utility profile?
