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PPL Expects Jump in 2003 Earnings

PPL Expects Jump in 2003 Earnings

The energy company forecasts earnings in 2003 to be 9% higher than in 2001, boosted by a recent acquisition.

The energy company forecasts earnings in 2003 to be 9% higher than in 2001, boosted by a recent acquisition.

Energy deliverer

PPL

(PPL) - Get Free Report

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

Mirant's

( 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

SEC

registration.