ALLIANT ENERGY ANNOUNCES THIRD QUARTER 2018 RESULTS AND INCREASED ANNUAL COMMON STOCK DIVIDEND TARGET BY 6% FOR 2019
Updates 2018 earnings guidance and provides 2019 earnings guidance and forecasted 2018 - 2027 capital expenditures
MADISON, Wis. - November 6, 2018 - Alliant Energy Corporation (NYSE: LNT) today announced U.S. generally accepted accounting principles (GAAP) and non-GAAP consolidated unaudited earnings per share (EPS) from continuing operations for the three months ended September 30 as follows:
GAAP EPS from
Non-GAAP EPS from
Utilities and Corporate Services
American Transmission Company (ATC) Holdings
Non-utility and Parent
Alliant Energy Consolidated
“We continued to deliver solid financial and operational results in the third quarter. We raised our 2018 earnings guidance to a range of $2.13 to $2.19 per share, largely due to the benefits of weather during the first nine months of this year,” said Patricia Kampling, Alliant Energy Chairman and CEO. “I am also pleased to share that our Board of Directors has approved a 6% increase to our annual common stock dividend target, raising it to $1.42 per share for 2019.”
Utilities and Corporate Services - Alliant Energy’s Utilities and Alliant Energy Corporate Services, Inc. (Corporate Services) operations generated $0.88 per share of GAAP EPS from continuing operations in the third quarter of 2018, which was $0.13 per share higher than the third quarter of 2017. The primary drivers of higher EPS were higher retail electric sales due to warmer temperatures in the third quarter of 2018 compared to the same period last year, higher margins due to Interstate Power and Light Company’s (IPL’s) and Wisconsin Power and Light Company’s (WPL’s) increasing rate base, and higher allowance for funds used during construction. 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 third quarter of 2018, which was a $0.01 per share earnings increase compared to the third quarter of 2017. The primary driver of higher EPS was the timing of income tax expense.
Earnings Adjustments - Non-GAAP EPS for the three and nine months ended September 30, 2018 excludes earnings of $0.02 per share related to tax return adjustments due to Federal Tax Reform. Non-GAAP EPS for the three and nine months ended September 30, 2017 excludes charges of $0.02 per share related to the write-down of regulatory assets due to the IPL electric rate review settlement. Non-GAAP adjustments, which relate to material charges or income that are not normally associated with ongoing operations, are provided as a supplement to results reported in accordance with GAAP.
Temperature Impacts to Non-GAAP EPS from Continuing Operations - The estimated year-to-date impact of temperatures on EPS compared to normal temperatures, is a $0.05 per share gain in 2018. The midpoint of the temperature normalized non-GAAP EPS from continuing operations guidance for the full year 2018 is $2.11.
The following information was filed by Alliant Energy Corp (LNT) on Wednesday, November 7, 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: 0000352541-18-000089 Submitted to the SEC: Wed Nov 07 2018 4:40:50 PM EST Accepted by the SEC: Wed Nov 07 2018 Period: Sunday, September 30, 2018 Industry: Electric And Other Services Combined