PPL (PPL) FY2023 results: revenue $8.3 billion, up 5.2% on the year
PPL Corp. (PPL) reported revenue of $8.3 billion for fiscal 2023, the year ended 31 December 2023, up 5.2% on the year before. Net income was $740 million, down 2.1%, and diluted earnings per share $1.00. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2024.
Revenue
$8.3 billion
+5.2% on the year
FY2016FY2023
Operating margin
19.6%
17.4% a year earlier
FY2016FY2023
Net income
$740 million
-2.1% on the year
FY2016FY2023
Diluted EPS
$1.00
-2.0% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,758
1,730
2,270
+1.6%
Capital expenditure
2,390
2,155
1,973
+10.9%
Free cash flow
-632
-425
297
Free cash flow margin
-7.6%
-5.4%
5.1%
Cash from investing
-2,383
-5,654
7,957
Cash from financing
650
709
-7,390
-8.3%
Depreciation
1,254
1,181
1,082
+6.2%
Share-based compensation
33.0
37.0
37.0
-10.8%
Buybacks
0.0
0.0
1,003
Dividends paid
704
787
1,279
-10.5%
Dividend per share
$0.96
$0.88
$1.66
+9.7%
Diluted shares, weighted
738m
737m
765m
+0.2%
Shares outstanding at period end
737m
736m
735m
+0.1%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
13,933
13,915
13,723
+0.1%
Non-controlling interest
0.0
3.0
0.0
Short-term borrowings
n/a
n/a
69.0
Debt
15,604
14,228
11,140
+9.7%
Operating lease liabilities
63.0
42.0
47.0
+50.0%
Finance lease liabilities
6.0
n/a
n/a
Other liabilities
9,630
9,649
8,244
-0.2%
Total liabilities and equity
39,236
37,837
33,223
+3.7%
Fixed assets
31,418
30,238
25,470
+3.9%
Goodwill
2,247
2,248
716
-0.0%
Intangible assets
306
313
343
-2.2%
Cash and equivalents
331
356
3,571
-7.0%
Receivables
950
896
583
+6.0%
Inventory
505
443
322
+14.0%
Other assets
3,479
3,343
2,218
+4.1%
Total assets
39,236
37,837
33,223
+3.7%
10-K for the year ended 31 December 2023, filed 16 February 2024: the filing.