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PPL's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Joseph P. Bergstein

Thank you. Good morning, everyone. Thank you for joining PPL conference call on second quarter results and our general business outlook. We are providing slides of this presentation on our website at www.pplweb.com.

Any statements made in this presentation about future operating results or other future events are forward-looking statements under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from such forward-looking statements. A discussion of factors that could cause actual results or events to vary is contained in the appendix of this presentation and in the company’s SEC filings.

At this time, I’d like to turn the call over to Bill Spence, PPL’s Chairman, President and CEO.

William H. Spence

Thanks, Joe, and good morning, everyone. We appreciate your participation in this morning’s call. I’m joined on the call this morning by Paul Farr, PPL’s Executive Vice President and Chief Financial Officer. Also joining us for the Q&A session are the Presidents of all business segments; Vic Staffieri, President and CEO of LG&EKU, our Kentucky Regulated business; Rick Klingensmith, President of PPL Global, who has responsibility for UK regulated operations and our Energy Services businesses; Greg Dudkin, President of PPL Electric Utilities, our Pennsylvania Regulated segment; and Dave DeCampli, President of our competitive market Supply segment.

To get started today, I have an overview of our second quarter results and a few operational highlights, then Paul will provide more details on our segment performance in the quarter and following his remarks we will turn to your questions.

Today we announced the second quarter reported earnings of $0.46 per share up from $0.35 in the same quarter a year ago. Earnings from ongoing operations for the quarter were $0.51 per share compared with $0.45 per share in the same period last year.

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