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Contacts : news release www.pplnewsroom.com For news media : Ryan Hill , 610-774-4033 For financial analysts : Andy Ludwig , 610-774-3389 ppl PPL Corporation Reports Second - Quarter 2021 Earnings ; Announces Net - Zero Carbon Emissions Goal * TM Continues to advance strategic repositioning with sale of U.K. utility business completed June 14 and acquisition of Narragansett Electric on track to close by March 2022 . Announces plan to repurchase approximately $ 500 million in PPL shares in 2021 . Sets new 2050 net - zero carbon emissions goal , targeting 80 % reduction by 2040 and 70 % reduction by 2035 . ALLENTOWN , Pa . ( Aug. 5 , 2021 ) - PPL Corporation ( NYSE : PPL ) on Thursday ( 8/5 ) announced second - quarter 2021 reported earnings ( GAAP ) of $ 19 million , or $ 0.03 per share , compared with second quarter 2020 reported earnings of $ 344 million , or $ 0.45 per share . PPL reported a net loss of $ 1.82 billion , or $ 2.37 per share , for the first six months of 2021 , compared with reported earnings of $ 898 million , or $ 1.17 per share , for the first six months of 2020 . Adjusting for special items , second - quarter 2021 earnings from ongoing operations ( non - GAAP ) were $ 147 million , or $ 0.19 per share , compared with $ 159 million , or $ 0.20 per share , a year ago . Earnings from ongoing operations for the first six months of 2021 were $ 366 million , or $ 0.47 per share , compared with $ 365 million , or $ 0.47 per share , for the first six months of 2020 . Special items in the second quarter included a U.K. tax rate change and a loss on the early extinguishment of debt , partially offset by earnings from the operations of the U.K. utility business prior to the completion of its sale on June 14 , 2021. Special items for the first six months of 2021 included the above factors , as well as a non - cash net loss from discontinued operations primarily due to the realization of accumulated other comprehensive losses associated with the U.K. utility business . " In the second quarter , PPL continued to execute on its strategic repositioning , including completing the sale of our U.K. utility business , " said Vincent Sorgi , PPL president and chief executive officer . " Having achieved exceptional value for the U.K. assets , we strengthened our balance sheet by retiring $ 3.5 billion in corporate debt . We also advanced the process to acquire The Narragansett Electric Company in Rhode Island with several key approvals , and we accomplished key priorities in our Kentucky rate review , which will support continued investment in technology and infrastructure to improve service to our customers . Most importantly , we delivered electricity and natural gas safely and reliably for those we serve . "