PPL Corp. (NYSE: PPL) reported Q1 EPS of $0.67, $0.04 worse than the analyst estimate of $0.71. Revenue for the quarter came in at $2.05 billion versus the consensus estimate of $2.17 billion.

"As the world confronts the COVID-19 pandemic, the service we provide has never been more important," said William H. Spence, PPL's chairman and chief executive officer. "Across PPL, we are taking comprehensive measures to protect our employees and the public, we continue to deliver electricity and gas safely and reliably, we are well-positioned to manage the economic downturn, and we are as committed as ever to delivering for our customers and shareowners," said Spence.

Financially, PPL said it has a strong liquidity profile, manageable near-term debt maturities, confidence in its ability to refinance debt when needed, a flexible capital plan with no major project risks, and no material equity needs through 2021. The company said it remains confident in its ability to pay its quarterly dividend going forward.

GUIDANCE:

PPL Corp. sees FY2020 EPS of $2.40-$2.60, versus the consensus of $2.46.

Through the end of the first quarter, PPL remained on track to achieve its 2020 earnings forecast of $2.40 to $2.60 per share. PPL said it's too soon to predict clearly the pandemic's full scope, duration and economic impact. As a result, the company has not changed its forecast range. PPL maintained its 2021 guidance range of $2.40 to $2.60 per share. The company will discuss financial risks and sensitivities related to COVID-19 during its first-quarter earnings webcast today.

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