May 1 (Reuters) - PPL Corp ( PPL ) reported

first-quarter results ahead of analysts' estimates on Wednesday

as the electricity and natural gas utility benefited from lower

operating costs and higher transmission revenue.

The company's Kentucky Regulated earnings rose by 3 cents

per share in the quarter on higher sales volumes. Earnings from

PPL's other two segments, Pennsylvania Regulated and Rhode

Island Regulated, also increased.

"We are on track to complete more than $3 billion in

infrastructure improvements this year ... to modernize the grid,

strengthen grid resilience against more powerful and frequent

severe weather," PPL CEO Vincent Sorgi said.

The company's operating expenses fell 8% to $1.76 billion in

the first quarter.

PPL posted revenue of $2.30 billion, beating analysts'

estimates of $2.06 billion, according to LSEG.

On an adjusted basis, the company earned 54 cents per share,

ahead of estimates of 50 cents.