Central Penn Business Journal

PPL reports earnings jump, raises forecast
By David Dagan - 8/2/2007

PPL Corp. today reported second-quarter earnings of $345 million, a jump of more than 90 percent compared to the same period of 2006. Earnings per diluted share rose about 87 percent, to 88 cents.

Allentown-based PPL distributes and generates electricity in the midstate.

The earnings increase was driven by gains on the sale of a business in El Salvador, according to PPL. Excluding that and other special items, operating earnings rose by almost 19 percent, to 63 cents per share, according to the company.

PPL beat the average analyst estimate of 51 cents per share, according to Yahoo Finance.

PPL raised its forecast for full-year earnings from ongoing operations to $2.40 to $2.50 per share, up from $2.30 to $2.40 per share.

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