0000922224-16-000170.txt : 20160624 0000922224-16-000170.hdr.sgml : 20160624 20160624083017 ACCESSION NUMBER: 0000922224-16-000170 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20160624 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20160624 DATE AS OF CHANGE: 20160624 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PPL Corp CENTRAL INDEX KEY: 0000922224 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 232758192 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11459 FILM NUMBER: 161729943 BUSINESS ADDRESS: STREET 1: TWO N NINTH ST CITY: ALLENTOWN STATE: PA ZIP: 18101-1179 BUSINESS PHONE: 610-774-5151 MAIL ADDRESS: STREET 1: TWO N NINTH ST CITY: ALLENTOWN STATE: PA ZIP: 18101-1179 FORMER COMPANY: FORMER CONFORMED NAME: PPL CORP DATE OF NAME CHANGE: 20000214 FORMER COMPANY: FORMER CONFORMED NAME: PP&L RESOURCES INC DATE OF NAME CHANGE: 19941123 8-K 1 form8k.htm FORM 8-K

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 24, 2016

 

Commission File

Number

Registrant; State of Incorporation;

Address and Telephone Number

IRS Employer

Identification No.

     
1-11459

PPL Corporation

(Exact name of Registrant as specified in its charter)

(Pennsylvania)

Two North Ninth Street

Allentown, PA  18101-1179

(610) 774-5151

 23-2758192
     

 

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:

 

[  ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

 

Section 7 - Regulation FD

 

Item 7.01 Regulation FD Disclosure

 

On June 24, 2016, PPL Corporation issued a press release responding to the results of the U.K. referendum on whether the U.K. should withdraw as a member of the European Union. A copy of the press release is furnished as Exhibit 99.1 to this Report.

 

Section 9 - Financial Statements and Exhibits

 

Item 9.01 Financial Statements and Exhibits

 

  (d)   Exhibits  
         
      99.1 - Press release dated June 24, 2016 of PPL Corporation responding to the results of the U.K. vote on whether the U.K. should withdraw from the European Union.

 

 

 
 

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.

 

 

  PPL CORPORATION
       
  By: /s/ Stephen K. Breininger  
   

Stephen K. Breininger

Vice President and Controller

  

 

 

 

 

Dated:  June 24, 2016

 

 

 EX-99.1 2 exhibit99_1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

Contacts: For news media: Ryan Hill, 610-774-5997
  For financial analysts: Lisa Pammer, 610-774-3316

 

 

 

PPL Corporation Responds to U.K. referendum on Membership in European Union

 

 

ALLENTOWN, Pa. (June 24, 2016) -- PPL Corporation on Friday (6/24) said the results of the June 23 referendum on Britain exiting the European Union are not expected to significantly impact its operations in the United Kingdom and management will continue to monitor developments in the U.K. closely.

“The extent and duration of any potential decline in the value of the British pound sterling to the U.S. dollar is unknown at this time. A long-term reduction in the value of the pound as a result of the U.K. referendum could require us to reassess our earnings growth rate,” said William H. Spence, PPL’s chairman, president and Chief Executive Officer.

“We have implemented an effective hedging program that substantially protects us against fluctuations in foreign currency exchange rates through 2017,” Spence said. “In addition, any negative exposure to long-term changes in foreign currency exchange rates could be partially offset by other factors, including increases to U.K. inflation and interest rates that may occur as a result of actions taken in response to the referendum vote.”

The company, which owns four high-performing utilities that serve almost 8 million customers in the U.K., reaffirmed its 2016 reported earnings forecast of $2.29 to $2.49 per share and earnings from ongoing operations forecast of $2.25 to $2.45 per share. In addition, PPL said it is not currently changing its previously announced projection of 5 to 6 percent compound annual earnings growth through 2018. This anticipated growth reflects projected earnings compared to 2014 earnings from ongoing operations (adjusted) of $2.03 per share.

As previously reported for the quarter ended March 31, 2016, PPL is 93 percent hedged for the remainder of 2016 budgeted earnings at an average rate of $1.54 per pound, 89 percent hedged for 2017 at a rate of $1.58 per pound, and 41 percent hedged for 2018 at a rate of $1.56 per pound.

Headquartered in Allentown, Pa., PPL Corporation (NYSE: PPL) is one of the largest companies in the U.S. utility sector. PPL’s seven high-performing, award-winning utilities serve 10 million customers in the U.S. and United Kingdom. The company and its 13,000 employees are dedicated to providing exceptional customer service and reliability and delivering superior value for shareowners. To learn more, visit www.pplweb.com.

 

Note to Editors: Visit our media website at www.pplnewsroom.com for additional news and background about PPL Corporation.