said it expects earnings in 2003 to be 9% higher than in 2002, boosted by an acquisition. PPL also reiterated its 2002 outlook.
The company, based in Allentown, Pa., expects 2003 EPS of $3.60 to $3.80, and foresees 2002 EPS of $3.30 to $3.50. Both forecasts are in line with analysts' expectations. Analysts have predicted EPS of $3.62 for 2003 and $3.40 for 2002.
The company's 2003 earnings reflect its $235 million acquisition of
( MIR) 49% equity interest in Wales-based Western Power Distribution, which serves Southwest England and Southern Wales. Previously, PPL had a 51% interest in WPD.
Separately, PPL said it plans to issue $500 million in common stock under an existing