PPL
Q2 2022 Earnings Call
Aug 03, 2022, 11:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good morning, and welcome to the PPL Corporation's second quarter 2022 earnings conference call. [Operator instructions] Please note, this event is being recorded. I would now like to turn the conference over to Andy Ludwig, VP, investor relations. Please go ahead.
Andy Ludwig -- Vice President, Investor Relations
Thank you. Good morning, everyone, and thank you for joining the PPL conference call on second quarter 2022 financial results. We've provided slides for this presentation and our earnings release issued this morning on the Investors section of our website. We'll begin today's call with updates from Vince Sorgi, PPL's president and CEO; and Joe Bergstein, chief financial officer.
Greg Dudkin, chief operating officer, will also be available for the Q&A session following our prepared remarks. Before we get started, I'll draw your attention to Slide 2 and a brief cautionary statement. Our presentation today contains forward-looking statements about future operating results or other future events. Actual results may differ materially from these forward-looking statements.
Please refer to the appendix of this presentation and PPL's SEC filings for a discussion of some of the factors that could cause actual results to differ from the forward-looking statements. We will also refer to non-GAAP measures, including earnings from ongoing operations and adjusted gross margins on this call. For reconciliations to the comparable GAAP measures, please refer to the appendix. I'll now turn the call over to Vince.
Vince Sorgi -- President and Chief Executive Officer
Thank you, Andy, and good morning, everyone. Welcome to our second quarter investor update. Turning to Slide 4, as we shared with you in June, we are extremely excited about PPL's compelling investment proposition, which is driven by our strategic repositioning. The completion of the sale of our U.K.
Utility business and acquisition of Rhode Island Energy has derisked the company and created a compelling portfolio of domestic regulated utilities. Our company has one of the best operating track records in the industry, and this operating expertise enables us to further optimize our new portfolio to deliver growth and create shareowner value. The result is a strategy and a new business plan that is anchored in operational efficiencies in the near term, with stronger rate base growth driving our earnings growth later in the decade, with a total capital investment need of at least $27 billion through 2030. This strategy also keeps affordability front and center, as we've committed to stay out of rate cases in Kentucky and Rhode Island until at least mid-2025.