Filing Flows › PPL (PPL) › Q1 2025
PPL (PPL) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 30, 2025
PPL (PPL) reported revenue of $2.5B for the first quarter 2025 (Q1 2025), +9% from a year earlier and +13% from the quarter before. Operating margin was 27.1%, net earnings $414M (16.5% of revenue).
PPL, Q1 2025: revenue $2.5B (+9% year over year), operating margin 27.1%, net earnings $414M, operating cash flow $513M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.5B | +13% | +9% |
| Operating profit | $678M | +80% | +24% |
| Net earnings | $414M | +134% | +35% |
| Operating cash flow | $513M | +0.4% | +82% |
What changed
Revenue was $2.5B in Q1 2025, up 9% year over year and up 13% from the previous quarter. Kentucky Regulated was the largest line at 42% of revenue. Rhode Island Regulated added $0.12B year over year (up 22%), 60% of the total change.
Operating profit was $0.68B, a 27.1% margin (up 3.4 points year over year). Of the extra revenue versus a year earlier, 66% reached operating profit, above the 24% margin then. Total costs grew 4% against revenue growth of 9%. Net earnings were $0.41B, up 35% year over year. The effective tax rate was 19.8%.
Operating cash flow was $0.51B (up 82% year over year), 124% of net earnings. Non-cash charges added back $0.32B of depreciation and $0.02B of share-based compensation. Working capital and other items used $0.24B. Capital expenditures of $0.79B exceeded it, leaving free cash flow of −$0.28B.
Questions
What was PPL's revenue in the first quarter 2025?
PPL (PPL) reported revenue of $2.5B for the first quarter 2025 (Q1 2025), +9% from a year earlier and +13% from the quarter before.
Was PPL profitable in the first quarter 2025?
Operating profit was $678M (27.1% of revenue) and net earnings $414M.
Source: PPL 10-Q on SEC EDGAR.