Exhibit 99.1
alliantenergylogo.jpg
Alliant Energy Corporation
Corporate Headquarters
4902 North Biltmore Lane
Madison, WI 53718-2148
www.alliantenergy.com
News Release
FOR IMMEDIATE RELEASE
 
Media Contact:
 
Scott Reigstad (608) 458-3145
 
 
Investor Relations:
 
Susan Gille (608) 458-3956

ALLIANT ENERGY ANNOUNCES FIRST QUARTER 2020 RESULTS

MADISON, Wis. - May 7, 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 the three months ended March 31 as follows:
 
GAAP EPS
 
Non-GAAP EPS
 
2020
 
2019
 
2020
 
2019
Utilities and Corporate Services

$0.72

 

$0.52

 

$0.72

 

$0.52

American Transmission Company (ATC) Holdings
0.03

 
0.03

 
0.03

 
0.03

Non-utility and Parent
(0.05
)
 
(0.02
)
 
(0.03
)
 
(0.02
)
Alliant Energy Consolidated

$0.70

 

$0.53

 

$0.72

 

$0.53


“In this uncertain environment of the global COVID-19 pandemic, our company continues to focus on providing the critical, reliable service our customers depend on, while emphasizing the health and welfare of our employees, customers and communities,” said John Larsen, Alliant Energy Chairman, President and CEO. “Based upon our forecasted impacts of COVID-19, and planned mitigation measures, we are reaffirming 2020 earnings guidance of $2.34 to $2.48 per share.

Utilities and Corporate Services - Alliant Energy’s Utilities and Alliant Energy Corporate Services, Inc. (Corporate Services) operations generated $0.72 per share of GAAP EPS in the first quarter of 2020, which was $0.20 per share higher than the first quarter of 2019. 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. These items were partially offset by lower electric and gas sales volumes largely caused by warmer than normal temperatures in early 2020 and higher depreciation expense. First quarter 2020 EPS was not significantly impacted as a result of COVID-19.

Non-utility and Parent - Alliant Energy’s Non-utility and Parent operations generated ($0.05) per share of GAAP EPS in the first quarter of 2020, which was a ($0.03) per share earnings decrease compared to the first quarter of 2019. The primary driver of lower EPS was a $0.02 per share credit loss charge related to legacy guarantees associated with an affiliate of Whiting Petroleum Corporation (Whiting Petroleum).

Earnings Adjustments - Non-GAAP EPS for the three months ended March 31, 2020 excludes charges of $0.02 per share related to the credit loss charge described above for Alliant Energy’s Non-utility and Parent. 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.

Details regarding GAAP EPS variances between the first quarters of 2020 and 2019 for Alliant Energy are as follows:
 
Q1 2020
 
Q1 2019
 
Variance
Higher revenue requirements primarily due to increasing rate base
 
 
 
 

$0.19

Estimated temperature impact on retail electric and gas sales

($0.03
)
 

$0.05

 
(0.08
)
Timing of income tax expense
 
 
 
 
0.06

Higher depreciation expense
 
 
 
 
(0.03
)
Credit loss charge on guarantees for an affiliate of Whiting Petroleum
 
 
 
 
(0.02
)
Other (partially due to lower operation and maintenance expenses)
 
 
 
 
0.05

Total
 
 
 
 

$0.17



1

The following information was filed by Alliant Energy Corp (LNT) on Friday, May 8, 2020 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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