ALLIANT ENERGY ANNOUNCES FIRST QUARTER 2018 RESULTS
Reaffirms 2018 earnings guidance
MADISON, Wis. - May 2, 2018 - 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 and Corporate Services
American Transmission Company (ATC) Holdings
Non-utility and Parent
Alliant Energy Consolidated
“With a return to near normal temperatures, first quarter 2018 results were in-line with our expectations so we are reaffirming our 2018 earnings guidance,” said Patricia Kampling, Alliant Energy Chairman and CEO. “The first quarter results reflect higher margins due to earning on our increasing rate base, while managing impacts to customers.”
Utilities and Corporate Services - Alliant Energy’s Utilities and Alliant Energy Corporate Services, Inc. (Corporate Services) operations generated $0.45 per share of GAAP EPS from continuing operations in the first quarter of 2018, which was $0.07 per share higher than the first quarter of 2017. The primary drivers of higher EPS were $0.07 per share higher margins resulting from Interstate Power and Light Company’s (IPL) interim retail electric base rate increase implemented in April 2017, and higher retail electric and gas sales due to colder temperatures in the first quarter of 2018 compared to the same period last year. These items were partially offset by higher depreciation expense.
Non-utility and Parent - Alliant Energy’s Non-utility and Parent operations generated $0.04 per share of GAAP EPS from continuing operations in the first quarter of 2018, which was an improvement of $0.02 per share compared to the first quarter of 2017. The primary driver of higher EPS is higher equity income from the wind farm in Oklahoma due to accelerated earnings as a result of Tax Reform, which is expected to reverse over time.
Details regarding GAAP EPS from continuing operations variances between the first quarters of 2018 and 2017 for Alliant Energy are as follows:
Utilities and Corporate Services:
Higher margins primarily from earning on increasing rate base
Estimated temperature impact on retail electric and gas sales
Higher depreciation expense
Total Utilities and Corporate Services
Non-utility and Parent:
Other (primarily due to the timing of the impacts of Tax Reform)
Total Non-utility and Parent
The following information was filed by Alliant Energy Corp (LNT) on Thursday, May 3, 2018 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: 0000352541-18-000051 Submitted to the SEC: Thu May 03 2018 5:00:08 PM EST Accepted by the SEC: Thu May 03 2018 Period: Saturday, March 31, 2018 Industry: Electric And Other Services Combined