PPL Corporation announced 2022 reported earnings of $756 million, or $1.02 per share, compared with a net loss of $1.48 billion, or $1.93 per share in 2021.

Adjusting for special items, 2022 earnings from ongoing operations were $1.04 billion, or $1.41 per share, compared with $806 million, or $1.05 per share, a year ago.

PPL’s fourth-quarter 2022 reported earnings were $190 million, or $0.26 per share, compared with fourth-quarter 2021 reported earnings of $134 million, or 18 cents per share.

Adjusting for special items, fourth-quarter 2022 earnings from ongoing operations were $209 million, or 28 cents per share, compared with fourth-quarter 2021 earnings from ongoing operations of $163 million, or 22 cents per share.

“Over the past two years, we’ve taken bold steps to transform PPL for long-term growth and success and to improve shareowner return while building on our core strengths,” said PPL President and Chief Executive Officer Vincent Sorgi.

PPL reaffirmed its 2023 earnings forecast range of $1.50 to $1.65 per share. The midpoint, $1.58 per share, represents a 7% increase over the $1.48 per share midpoint of PPL’s 2022 pro forma earnings per share range (reflecting a full year of earnings contributions from Rhode Island Energy).

In addition, PPL announced a 7% increase in its quarterly common stock dividend.