Filing Flows › PPL (PPL) › Q1 2026
PPL (PPL) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 8, 2026
PPL (PPL) reported revenue of $2.8B for the first quarter 2026 (Q1 2026), +11% from a year earlier and +22% from the quarter before. Operating margin was 26.9%, net earnings $452M (16.3% of revenue).
PPL, Q1 2026: revenue $2.8B (+11% year over year), operating margin 26.9%, net earnings $452M, operating cash flow $557M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.8B | +22% | +11% |
| Operating profit | $745M | +57% | +10% |
| Net earnings | $452M | +70% | +9% |
| Operating cash flow | $557M | +2% | +9% |
What changed
Revenue was $2.8B in Q1 2026, up 11% year over year and up 22% from the previous quarter.
Operating profit was $0.74B, a 26.9% margin (down 0.2 points year over year). Of the extra revenue versus Q1 2025, 25% reached operating profit, below the 27% margin then. Total costs grew 11% against revenue growth of 11%. Net earnings were $0.45B, up 9% year over year. The effective tax rate was 19.3%.
Operating cash flow was $0.56B (up 9% year over year), 123% of net earnings. Non-cash charges added back $0.35B of depreciation and $0.02B of share-based compensation. Working capital and other items used $0.27B. Capital expenditures of $1.1B exceeded it, leaving free cash flow of −$0.50B.
Questions
What was PPL's revenue in the first quarter 2026?
PPL (PPL) reported revenue of $2.8B for the first quarter 2026 (Q1 2026), +11% from a year earlier and +22% from the quarter before.
Was PPL profitable in the first quarter 2026?
Operating profit was $745M (26.9% of revenue) and net earnings $452M.
Source: PPL 10-Q on SEC EDGAR.