MADISON, Wis. - February 21, 2019 - Alliant Energy Corporation (NASDAQ: LNT) today announced U.S. generally accepted accounting principles (GAAP) and non-GAAP consolidated unaudited earnings per share (EPS) from continuing operations for 2018 and 2017 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 once again delivered solid financial and operational results in 2018. Our 2018 temperature normalized Non-GAAP earnings per share were $2.11, 6 percent above 2017 and consistent with our long-term earnings growth goal,” said Patricia Kampling, Alliant Energy Chairman and CEO. “I am proud to report that over the last five years we have delivered a total shareholder return of 93 percent, exceeding the growth of both the S&P 500 and the EEI Utilities Index.”
Utilities and Corporate Services - Alliant Energy’s Utilities and Alliant Energy Corporate Services, Inc. (Corporate Services) operations generated $2.08 per share of GAAP EPS from continuing operations in 2018, which was $0.26 per share higher than 2017. The primary drivers of higher GAAP EPS were higher margins due to Interstate Power and Light Company’s (IPL’s) and Wisconsin Power and Light Company’s (WPL’s) increasing rate base, higher retail electric and gas sales due to temperatures in 2018, 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 $(0.01) per share of GAAP EPS from continuing operations in 2018, which was $0.07 per share lower than 2017. The primary drivers of lower EPS were higher interest expense and benefits of Tax Cuts and Jobs Act (Federal Tax Reform) in 2017. These items were partially offset by higher equity income in 2018 from the wind farm in Oklahoma due to accelerated earnings as a result of Federal Tax Reform, which is expected to reverse over time.
Earnings Adjustments - Non-GAAP EPS for 2018 excludes earnings of $0.02 per share related to Federal Tax Reform adjustments as a result of clarifying rules issued in 2018. Non-GAAP EPS for 2017 excludes the write-down of regulatory assets due to the IPL retail electric rate review settlement and the initial impacts of Federal Tax Reform. 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 net impact of temperatures on retail electric and gas sales was a $0.06 per share gain in 2018. The temperature normalized non-GAAP EPS from continuing operations for fiscal year 2018 was $2.11. The estimated impact of temperatures on retail electric and gas sales was a $0.06 per share loss in 2017. The temperature normalized non-GAAP EPS from continuing operations for fiscal year 2017 was $1.99.
The following information was filed by Alliant Energy Corp (LNT) on Friday, February 22, 2019 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-K Annual 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-K Annual Report Accession Number: 0000352541-19-000013 Submitted to the SEC: Fri Feb 22 2019 3:39:51 PM EST Accepted by the SEC: Fri Feb 22 2019 Period: Monday, December 31, 2018 Industry: Electric And Other Services Combined