PPL Corporation (NYSE:PPL) Q2 2024 Earnings Conference Call August 2, 2024 11:00 AM ET

Company Participants

Andy Ludwig - VP, IR
Vince Sorgi - President and CEO
Joe Bergstein - CFO

Conference Call Participants

Shar Pourreza - Guggenheim Partners
Durgesh Chopra - Evercore ISI
David Arcaro - Morgan Stanley
Julien Dumoulin-Smith - Jefferies
Ryan Levine - Citi
Anthony Crowdell - Mizuho

Operator

Good day and welcome to the PPL Corporation Second Quarter 2024 Earnings Call. All participants will be in a listen-only mode. [Operator Instructions] Please note today’s event is being recorded.

I would now like to turn the conference over to Andy Ludwig, Vice President, Investor Relations. Please go ahead.

Andy Ludwig

Good morning everyone and thank you for joining the PPL Corporation conference call on second quarter 2024 financial results. We provided slides for this presentation on the Investors section of our website.

We'll begin today's call with updates from Vince Sorgi, PPL President and CEO; and Joe Bergstein, Chief Financial Officer. And we'll conclude with a 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 or ongoing earnings on this call. Reconciliations to the comparable GAAP measures please refer to the appendix.

I'll now turn the call over to Vince.

Vince Sorgi

Thank you, Andy and good morning everyone. Welcome to our second quarter investor update. Let's start with our financial results and a few highlights from our second quarter performance on Slide 4.

Today, we reported second quarter GAAP earnings of $0.26 per share. Adjusting for special items, second quarter earnings from ongoing operations were $0.38 per share. Backed by another strong quarter, today, we reaffirmed our 2024 ongoing earnings forecast of $1.63 to $1.75 per share, and expect to achieve at least the midpoint of our forecast range.

In addition, we continue to make excellent progress in delivering on our 2024 priorities. We're on track to complete approximately $3.1 billion in infrastructure improvements this year to advance a reliable, resilient, affordable, and cleaner energy future for our customers.