UPDATE: PPL Beats Q4 Views

posted stronger-than-expected fourth-quarter results. The Allentown, Pennsylvania-based company reported a quarterly profit of $695 million, or $1.04 per share, versus a year-ago loss of $98 million, or $0.16 per share. Excluding special items, the company's earnings from ongoing operations fell to $0.58 per share from $0.60 per share. Its operating revenue surged 42.7% to $4.02 billion. However, analysts were expecting earnings of $0.51 per share on revenue of $3.49 billion, Unregulated wholesale energy revenue jumped to $1.6 billion from $529 million. Earnings from ongoing operations in the supply segment dropped to $0.05 per share from $0.13 per share, while earnings from ongoing operations in the UK regulated segment climbed to $0.36 per share from $0.30 per share. Earnings from ongoing operations in the Kentucky regulated segment fell to $0.10 per share from $0.12 per share, while earnings from ongoing operations in the Pennsylvania regulated segment rose to $0.10 per share from $0.07 per share. "2014 was another very successful year for PPL. Not only did we achieve strong earnings results in our regulated utility and competitive supply segments, but we made significant progress in the spinoff of our Supply business, which is designed to unlock significant value for our shareowners," said William H. Spence, PPL's chairman, president and Chief Executive Officer. PPL shares fell 1.57% to close at $35.81 yesterday.