PPL Corporation shares are trading slightly lower after the company reported first-quarter FY25 operating revenue growth of $2.50 billion, beating the consensus of $1.97 billion.

Adjusted EPS was 60 cents, exceeding the consensus of 54 cents.

Electricity sales rose by 6.6% year over year (Y/Y), with the PA Regulated segment up 5.4% Y/Y and the KY Regulated segment increased by 8.1% Y/Y.

Operating income increased to $678 million from $545 million in the prior year quarter. 

PPL's net cash provided by operating activities in the quarter totaled $513 million versus $282 million a year ago.

Outlook: PPL continues to expect 2025 EPS of $1.75-$1.87 vs. consensus of $1.76.

PPL reiterated its 6% to 8% annual EPS and dividend growth targets through at least 2028. The company expects EPS growth to be in the upper half of the range.

PPL maintained its outlook for its capital investments at $20 billion for the 2025–2028 period, resulting in an average annual rate base growth of 9.8% over the period.

The company continues to target $4.3 billion in infrastructure investments for 2025.

PPL anticipates achieving cumulative annual O&M efficiencies of at least $150 million in 2025.

President and Chief Executive Officer Vincent Sorgi said, “Looking forward, we’re well-positioned to build on this success throughout the year, and sustained strong interest from data center developers in Pennsylvania and Kentucky further highlights the critical role we continue to play in powering progress and innovation.”

Investors can gain exposure to the stock via Virtus Reaves Utilities ETF ( UTES ) and The Advisors Inner Circle Fund II Cullen Enhanced Equity Income ETF .

Price Action: PPL shares are down 0.5% to $36.58 at last check Wednesday.

Read Next:

Southern Company Q4: Utility Growth Boosts Revenue, But Rising Costs Weigh on Profit