Alliant Energy Corporation
4902 North Biltmore Lane
Madison, WI 53718-2148
FOR IMMEDIATE RELEASE
Scott Reigstad (608) 458-3145
Susan Gille (608) 458-3956
ALLIANT ENERGY ANNOUNCES 2019 RESULTS
MADISON, Wis. - February 20, 2020 - Alliant Energy Corporation (NASDAQ: LNT) today announced U.S. generally accepted accounting principles (GAAP) and non-GAAP consolidated unaudited earnings per share (EPS) for 2019 and 2018 as follows:
Utilities and Corporate Services
American Transmission Company (ATC) Holdings
Non-utility and Parent
Alliant Energy Consolidated
“In 2019, we once again delivered solid financial and operational results. Consistent with our 5-7% long-term earnings growth goal, our temperature-normalized non-GAAP earnings per share increased 7% over calendar year 2018,” said John Larsen, Alliant Energy Chairman, President and CEO. “We’re putting renewable energy to work for our customers by advancing our renewable energy investments and preparing the energy grid for more distributed energy resources.”
Utilities and Corporate Services - Alliant Energy’s Utilities and Alliant Energy Corporate Services, Inc. (Corporate Services) operations generated $2.22 per share of GAAP EPS in 2019, which was $0.14 per share higher than 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. This item was partially offset by higher depreciation expense, higher interest expense and equity dilution.
Non-utility and Parent - Alliant Energy’s Non-utility and Parent operations generated $(0.03) per share of GAAP EPS in 2019, which was $0.02 per share lower than 2018. The primary driver of lower EPS was higher interest expense.
Earnings Adjustments - Non-GAAP EPS for 2019 excludes earnings of $0.02 per share related to ATC return on equity (ROE) reserve adjustments due to a Federal Energy Regulatory Commission decision in the fourth quarter of 2019 regarding Midcontinent Independent System Operator, Inc. transmission owners’ authorized ROE. 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 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 net impacts of temperatures on retail electric and gas sales were $0.05 per share and $0.06 per share gains in 2019 and 2018, respectively. The temperature-normalized non-GAAP EPS was $2.26 and $2.11 for fiscal years 2019 and 2018, respectively.