-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
PPL posted Q1 EPS of CAD0.81 vs CAD0.79, beating consensus by CAD0.02, though adjusted EBITDA declined 3.1% to CAD1.13B and net revenues fell 3.9% to CAD1.29B reflecting a challenging pricing environment. Volume performance was mixed, with Pipeline volumes up 0.9% to 2.83 mmboe/d, Facilities flat at 899,000 boe/d, and Marketing down 4.9% to 369,000 boe/d. Pipeline earnings dropped CAD29M primarily due to Alliance Pipeline's new toll structure, while Facilities and Marketing segments improved by CAD14M and CAD15M respectively, driven by stronger PGI asset performance and lower Cedar LNG losses. Major growth projects remain on track, with Cedar LNG's floating vessel construction over 50% complete for late 2028 commercial service and RFS IV Fractionator's rail facility entering service in February 2026. Multiple pipeline expansion projects including Fox Creek-to-Namao, Birch-to-Taylor, and Taylor-to-Gordondale have been sanctioned with construction activities commencing during the quarter.