KENTUCKY UTILITIES CO
For the period ended Mar 31, 2026. Filed May 8, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 8, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Louisville Gas and Electric Company - Statement of Income Analysis
LG&E: Statement of Income Analysis
| Three Months | |||
|---|---|---|---|
| 2026 | 2025 | $ Change | |
| Operating Revenues | |||
| Retail and wholesale | $588 | $500 | $88 |
| Electric revenue from affiliate | 9 | 5 | 4 |
| Total Operating Revenues | 597 | 505 | 92 |
| Operating Expenses | |||
| Operation | |||
| Fuel | 101 | 82 | 19 |
| Energy purchases | 119 | 88 | 31 |
| Energy purchases from affiliate | 6 | 5 | 1 |
| Other operation and maintenance | 83 | 89 | (6) |
| Depreciation | 83 | 74 | 9 |
| Taxes, other than income | 14 | 13 | 1 |
| Total Operating Expenses | 406 | 351 | 55 |
| Operating Income | 191 | 154 | 37 |
| Other Income (Expense) - net | 6 | 3 | 3 |
| Interest Expense | 32 | 26 | 6 |
| Income Before Income Taxes | 165 | 131 | 34 |
| Income Taxes | 33 | 26 | 7 |
| Net Income | $132 | $105 | $27 |
| Three Months | |
|---|---|
| Retail rates (a) | $34 |
| Fuel and other energy purchases (b) | 53 |
| Volumes (c) | (5) |
| RAR | 5 |
| Other | 5 |
| Total | $92 |
(a)The increase was due to new base rates approved by the KPSC effective January 1, 2026.
(b)The increase was primarily due to higher recoveries of fuel expenses and energy purchases.
(c)The decrease was primarily due to weather.
Fuel
Fuel expense increased $19 million for the three months ended March 31, 2026 compared with 2025, primarily due to an increase in commodity costs.
Energy purchases increased $31 million for the three months ended March 31, 2026 compared with 2025, primarily due to a $38 million increase in commodity costs, partially offset by a $7 million decrease in volumes primarily due to weather.
Other operation and maintenance decreased $6 million for the three months ended March 31, 2026 compared with 2025, primarily due to a $10 million decrease for a reclassification of 2025 costs associated with PPL's restructuring and rebuilding of its IT infrastructure, organization and systems to a regulatory asset, partially offset by a $4 million increase in generation maintenance expenses.
Depreciation increased $9 million for the three months ended March 31, 2026 compared with 2025, primarily due to an increase in PP&E additions, net of retirements.
Income Taxes
Income taxes increased $7 million for the three months ended March 31, 2026 compared with 2025, primarily due to an increase in pre-tax income.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.