The company cited an increase of $71 million in fuel and energy purchase recoveries and a $70 million increase in retail rates from new base rates approved by the KPSC effective January 1, 2026 as the drivers of higher operating revenues in the Kentucky Regulated segment.

1. 01

   The company cited an increase of $71 million in fuel and energy purchase recoveries and a $70 million increase in retail rates from new base rates approved by the KPSC effective January 1, 2026 as the drivers of higher operating revenues in the Kentucky Regulated segment.

2. 02

   The company cited higher PLR revenue of $111 million and a $22 million increase in transmission formula rate revenue, among other factors, as drivers of higher operating revenues in the Pennsylvania Regulated segment. It said higher energy purchases were primarily due to a $78 million increase in PLR prices and a $20 million increase in PLR volumes.

3. 03

   PPL said its operating cash flow for Q1 2026 rose $44 million from the same period a year earlier. Net income increased $38 million, and non-cash items increased $81 million, while cash from working capital decreased $48 million.

4. 04

   The company said it issued 23 million Corporate Units in February 2026, raising a total of $1.15 billion. After deducting underwriters' fees, it received about $1.13 billion, which it used to repay short-term debt and for general corporate purposes.

Key figures

Quarter ended March 31, 2026

Revenue

$2.8B

Operating income

$745M

Net income

$452M

Operating cash flow

$557M

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.

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.