ALLIANT ENERGY ANNOUNCES THIRD QUARTER 2019 RESULTS AND INCREASED ANNUAL COMMON STOCK DIVIDEND TARGET FOR 2020
Updates 2019 earnings guidance and provides 2020 earnings guidance and forecasted 2019 - 2023 capital expenditures
MADISON, Wis. - November 6, 2019 - Alliant Energy Corporation (NASDAQ: LNT) today announced U.S. generally accepted accounting principles (GAAP) and non-GAAP consolidated unaudited earnings per share (EPS) for the three months ended September 30 as follows:
Utilities and Corporate Services
American Transmission Company (ATC) Holdings
Non-utility and Parent
Alliant Energy Consolidated
“As we advance our commitment to cleaner energy and affordable customer options, we are investing in renewable energy and distribution system enhancements,” said John Larsen, Alliant Energy Chairman, President and CEO. “We raised our 2019 earnings guidance to a range of $2.27 to $2.33 per share, largely due to the benefits of weather during the first nine months of this year. I am also pleased to share that our Board of Directors has approved a 7% increase to our annual common stock dividend target, raising it to $1.52 per share for 2020.”
Utilities and Corporate Services - Alliant Energy’s Utilities and Alliant Energy Corporate Services, Inc. (Corporate Services) operations generated $0.92 per share of GAAP EPS in the third quarter of 2019, which was $0.04 per share higher than the third quarter of 2018. The primary drivers of higher EPS were higher earnings due to Interstate Power and Light Company’s (IPL’s) and Wisconsin Power and Light Company’s (WPL’s) increasing rate base and timing of income tax expense. These items were partially offset by higher depreciation expense and tax adjustments.
Non-utility and Parent - Alliant Energy’s Non-utility and Parent operations generated ($0.01) per share of GAAP EPS in the third quarter of 2019, which was a $0.03 per share earnings increase compared to the third quarter of 2018. The primary driver of higher EPS was tax adjustments and 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 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 - The estimated year-to-date impact of temperatures on EPS compared to normal temperatures, is a $0.05 per share gain in 2019. The midpoint of the temperature normalized non-GAAP EPS guidance for the full year 2019 is $2.25.
The following information was filed by Alliant Energy Corp (LNT) on Thursday, November 7, 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-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: 0000352541-19-000099 Submitted to the SEC: Thu Nov 07 2019 12:15:33 PM EST Accepted by the SEC: Thu Nov 07 2019 Period: Monday, September 30, 2019 Industry: Electric And Other Services Combined