PPL said cash provided by operating activities for Q1 2025 increased $231 million compared with 2024. Net income increased $107 million, cash from changes in working capital increased $202 million and cash provided by other operating activities decreased $55 million.

10-QQuarterly reportFiled Apr 30, 2025Period of report Mar 31, 2025Summary published (UTC) Oct 11, 2026

Key points

AI summary

PPL said cash provided by operating activities for Q1 2025 increased $231 million compared with 2024. Net income increased $107 million, cash from changes in working capital increased $202 million and cash provided by other operating activities decreased $55 million.
The company cited higher recoveries of fuel and energy purchases of $34 million and higher sales volumes due to weather of $28 million as factors in the increase in Kentucky Regulated operating revenues for Q1 2025. For Rhode Island Regulated, it cited an increase of $41 million related to conforming the presentation of net metering charges.
PPL entered into an at-the-market offering agreement in February 2025 to sell up to $2 billion of common stock. The company entered into a forward sale agreement in Q1 2025 to sell approximately 2.0 million shares at an initial forward price of $34.49 per share, with settlement required by December 30, 2025.
The company said the increase in PPL's property, plant and equipment expenditures was due to higher project spending at PPL Electric, RIE, LG&E and KU. LG&E and KU cited Mill Creek Unit 5 and Advanced Metering Infrastructure expansion as factors.

Key figures

Quarter ended March 31, 2025

Revenue: $2.5B
Operating income: $678M
Net income: $414M
EPS: $0.56
Operating cash flow: $513M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

PPL Operating Cash Flow from Activities Increases

PPL said cash provided by operating activities for Q1 2025 increased $231 million compared with 2024. Net income increased $107 million, cash from changes in working capital increased $202 million and cash provided by other operating activities decreased $55 million.

Source · Based on the MD&A text of the filing

Segment Operating Revenue Increases

The company cited higher recoveries of fuel and energy purchases of $34 million and higher sales volumes due to weather of $28 million as factors in the increase in Kentucky Regulated operating revenues for Q1 2025. For Rhode Island Regulated, it cited an increase of $41 million related to conforming the presentation of net metering charges.

Source · Based on the MD&A text of the filing

At-the-Market Offering Forward Sale Agreement

PPL entered into an at-the-market offering agreement in February 2025 to sell up to $2 billion of common stock. The company entered into a forward sale agreement in Q1 2025 to sell approximately 2.0 million shares at an initial forward price of $34.49 per share, with settlement required by December 30, 2025.

Source · Based on the MD&A text of the filing

Investing Activities Property, Plant and Equipment Expenditure Increases

The company said the increase in PPL's property, plant and equipment expenditures was due to higher project spending at PPL Electric, RIE, LG&E and KU. LG&E and KU cited Mill Creek Unit 5 and Advanced Metering Infrastructure expansion as factors.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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