PPL Corp. reported pre-market Wednesday Q4 results, with better-than-expected earnings and revenue that fell short of analysts’ forecasts; it also maintained its earnings guidance for fiscal 2017 in line with Street estimates.
The utility holding company posted earnings of $0.60 per share, excluding special items, compared with the prior-year period’s $0.43 per share. Analysts polled by Capital IQ were expecting EPS of $0.52.
Revenue was $1.83 billion, up from $1.78 billion in the same quarter last year. The Street view was for revenue of $2.09 billion. The company reaffirmed its fiscal 2017 EPS guidance of $2.05 – $2.25 versus the Street view for EPS of $2.16.
PPL also said that it is increasing its common stock dividend to $0.395 per share from $0.38 per share on a quarterly basis. The increased dividend will be payable April 3 to shareowners of record as of March 10. The increase, PPL’s 15th in 16 years, raises the annualized dividend 4 percent from $1.52 per share to $1.58 per share.