MADISON, Wis. - May 3, 2017 - Alliant Energy Corporation (NYSE: LNT) today announced U.S generally accepted accounting principles (GAAP) consolidated unaudited earnings per share (EPS) from continuing operations for the three months ended March 31 as follows:
Utilities, ATC and Corporate Services
Non-regulated and Parent
Alliant Energy Consolidated
“First quarter 2017 temperatures, as measured by heating degree days, were approximately 13% warmer than normal in our service territories resulting in $0.04 per share of lower earnings,” said Patricia Kampling, Alliant Energy Chairman, President and CEO. “With the exception of the mild weather, results were in-line with our expectations allowing us to reaffirm our 2017 earnings guidance.”
Utilities, ATC and Corporate Services - Alliant Energy’s Utilities, American Transmission Company Investment (ATC) and Alliant Energy Corporate Services, Inc. (Corporate Services) operations generated $0.41 per share of GAAP EPS from continuing operations in the first quarter of 2017, which was $0.01 per share lower than the first quarter of 2016. The primary drivers of lower EPS were lower electric and gas sales volumes largely caused by unusually mild temperatures in early 2017, higher Wisconsin Power and Light Company (WPL) electric fuel-related costs, net of recoveries, and higher depreciation expense. These items were partially offset by higher revenues resulting from WPL’s retail electric and gas base rate increases implemented in January 2017.
Non-regulated and Parent - Alliant Energy’s Non-regulated and Parent operations generated $0.02 per share of GAAP EPS from continuing operations in the first quarter of 2017, which was an improvement of $0.01 per share compared to the first quarter of 2016.
Common Stock Split - In April 2016, Alliant Energy’s Board of Directors approved a two-for-one common stock split and a proportionate increase in the number of authorized shares of common stock of Alliant Energy from 240 million shares to 480 million shares to implement the stock split. Alliant Energy shareowners of record at the close of business on May 4, 2016 received one additional share of Alliant Energy common stock for each share held on that date. The proportionate interest that a shareowner owns in Alliant Energy did not change as a result of the stock split. The additional shares were distributed on May 19, 2016 and post-split trading began on May 20, 2016. All share and per share amounts in this release have been reflected on a post-split basis.
The following information was filed by Alliant Energy Corp (LNT) on Thursday, May 4, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: LNT CIK: 352541 Form Type:10-Q Quarterly Report Accession Number: 0000352541-17-000054 Submitted to the SEC: Thu May 04 2017 1:48:06 PM EST Accepted by the SEC: Thu May 04 2017 Period: Friday, March 31, 2017 Industry: Electric And Other Services Combined