ppl8k.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of
Report (Date of earliest event reported): June 1, 2007
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Commission
File
Number
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Registrant;
State of Incorporation;
Address
and Telephone Number
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IRS
Employer
Identification
No.
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1-11459
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PPL
Corporation
(Exact
name of Registrant as specified in its charter)
(Pennsylvania)
Two
North Ninth Street
Allentown,
PA 18101-1179
(610)
774-5151
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23-2758192
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Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
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[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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Section
7 - Regulation FD
Item
7.01 Regulation FD Disclosure
On
June
7, 2007, members of senior management of PPL Corporation ("PPL" or the
"Company") will participate in the Citigroup Investment Research Power, Gas
and
Utilities Conference in Charleston, S.C. James H. Miller, PPL’s chairman,
president and chief executive officer, will participate in a panel discussion
on
the strategic management of commodity exposure that will be Webcast from the
Conference. A copy of the press release announcing this Webcast is attached
as
Exhibit 99.1 and is incorporated herein by reference.
In
addition, at this conference, members of PPL senior management will discuss
with
financial analysts and investors PPL’s corporate strategy, general business
outlook and other matters.
During
this discussion, it is expected that PPL representatives will reaffirm the
Company’s previously announced forecasts of $2.30 to $2.40 per share in earnings
from ongoing operations for 2007; an increase in earnings per share in 2008
over
2007 of at least 5 percent, based on the midpoint of the 2007 forecast and
excluding projected synfuel earnings for 2007; and 2010 earnings per share
of
$3.50. As previously announced, the Company's 2007 forecast of reported earnings
per share is $2.17 to $2.27, reflecting special items recorded through March
31,
2007. This forecast of reported earnings does not reflect the
previously announced expected second quarter special after-tax gain of 22 to
23
cents per share for the sale of PPL’s El Salvadoran business, or the previously
announced expected second quarter additional special after-tax charge of 1
cent
per share related to the sale of PPL’s telecommunication
subsidiary.
In
addition to the discussion at the Citigroup Conference, representatives of
PPL
will be talking with financial analysts and investors during various meetings
and discussions throughout June 2007. Unless it publicly discloses otherwise,
PPL expects that during these meetings and discussions it will reaffirm the
Company’s earnings forecasts.
Section
9 - Financial Statements and Exhibits
Item
9.01 Financial Statements and Exhibits
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(d)
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Exhibits
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99.1
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Press
Release, dated June 1, 2007, announcing Webcast of PPL’s participation in
a panel discussion at the Citigroup Investment Research Power, Gas
and
Utilities Conference in Charleston, S.C.
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“Earnings
from ongoing operations” excludes the impact of special items. Special items
include charges, credits or gains that are unusual or non-recurring and the
mark-to-market impact of energy-related, non-trading economic hedges. The
mark-to-market impact of these hedges is economically neutral to the company
in
that offsetting gains or losses on underlying accrual positions will be
recognized as energy is delivered over the terms of the contracts. Earnings
from
ongoing operations should not be considered as an alternative to reported
earnings, or net income, which is an indicator of operating performance
determined in accordance with generally accepted accounting principles (GAAP).
PPL believes that earnings from ongoing operations, although a non-GAAP measure,
is also useful and meaningful to investors because it provides them with PPL’s
underlying earnings performance as another criterion in making their investment
decisions. PPL’s management also uses earnings from ongoing operations in
measuring certain corporate performance goals. Other companies may use different
measures to present financial performance.
Statements
contained in this Form 8-K, including statements with respect to future
earnings, are “forward-looking statements” within the meaning of the federal
securities laws. Although PPL Corporation believes that the expectations and
assumptions reflected in these forward-looking statements are reasonable, these
statements involve a number of risks and uncertainties, and actual results
may
differ materially from the results discussed in the statements. The following
are among the important factors that could cause actual results to differ
materially from the forward-looking statements: market demand and prices for
energy, capacity and fuel; market prices for crude oil and the potential impact
on the phaseout of synthetic fuel tax credits and synthetic fuel operations;
weather conditions affecting generation production, customer energy usage and
operating costs; competition in retail and wholesale power markets; liquidity
of
wholesale power markets; the effect of any business or industry restructuring;
the profitability and liquidity, including access to capital markets and credit
facilities, of PPL Corporation and its subsidiaries; new accounting requirements
or new interpretations or applications of existing requirements; operation
and
availability of existing generation facilities and operating costs; transmission
and distribution system conditions and operating costs; current and future
environmental conditions and requirements and the related costs of compliance,
including environmental capital expenditures and emission allowance and other
expenses; significant delays in the planned installation of pollution control
equipment at certain coal-fired generating units in Pennsylvania due to weather
conditions, contractor performance or other reasons; development of new
projects, markets and technologies; performance of new ventures; asset
acquisitions and dispositions; political, regulatory or economic conditions
in
states, regions or countries where PPL Corporation or its subsidiaries conduct
business; any impact of hurricanes or other severe weather on PPL and its
subsidiaries, including any impact on fuel prices; receipt of necessary
governmental permits, approvals and rate relief; new state, federal or foreign
legislation, including new tax legislation; state, federal and foreign
regulatory developments; any impact of state, federal or foreign investigations
applicable to PPL Corporation and its subsidiaries and the energy industry;
capital markets conditions, including changes in interest rates, and decisions
regarding capital structure; stock price performance of PPL Corporation; the
market prices of equity securities and the impact on pension costs and resultant
cash funding requirements for defined benefit pension plans; securities and
credit ratings; disposition proceeds; foreign currency exchange rates; the
outcome of litigation against PPL Corporation and its subsidiaries; potential
effects of threatened or actual terrorism or war or other hostilities; and
the
commitments and liabilities of PPL Corporation and its subsidiaries. Any such
forward-looking statements should be considered in light of such important
factors and in conjunction with PPL Corporation’s Form 10-K and other reports on
file with the Securities and Exchange Commission.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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PPL
CORPORATION
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By:
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/s/
J. Matt Simmons,
Jr.
J.
Matt Simmons, Jr.
Vice
President and Controller
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Dated:
June 6, 2007