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 THIRD QUARTER 2020 RESULTS AND INCREASED ANNUAL COMMON STOCK DIVIDEND TARGET FOR 2021
Updates 2020 earnings guidance and provides 2021 earnings guidance and forecasted 2020 - 2024 capital expenditures

MADISON, Wis. - November 2, 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 September 30 as follows:
 
GAAP EPS
 
Non-GAAP EPS
 
2020
 
2019
 
2020
 
2019
Utilities and Corporate Services

$0.89

 

$0.92

 

$0.89

 

$0.92

American Transmission Company (ATC) Holdings
0.03

 
0.03

 
0.03

 
0.03

Non-utility and Parent
0.06

 
(0.01
)
 
0.02

 
(0.01
)
Alliant Energy Consolidated

$0.98

 

$0.94

 

$0.94

 

$0.94


“As we continue to achieve major milestones on our purpose-driven plan -- such as completing our 1,150 megawatts wind expansion -- we have kept focus on our customers and Powering What’s Next. We recently released our Iowa Clean Energy Blueprint, which includes the addition of up to 400 megawatts of new solar generation,” said John Larsen, Alliant Energy Chairman, President and CEO. “We narrowed and raised our 2020 earnings guidance to a range of $2.40 to $2.46 per share. I am also pleased to share that our Board of Directors has approved a 6% increase in our annual common stock dividend target, raising it to $1.61 per share for 2021.”

Utilities and Corporate Services - Alliant Energy’s Utilities and Alliant Energy Corporate Services, Inc. (Corporate Services) operations generated $0.89 per share of GAAP EPS in the third quarter of 2020, which was $0.03 per share lower than the third quarter of 2019. The primary drivers of lower EPS were higher depreciation expense, equity dilution, and lower sales due to the Derecho storm in Iowa. These impacts were partially offset by higher earnings resulting from IPL’s and WPL’s increasing rate base and timing of income taxes.

Non-utility and Parent - Alliant Energy’s Non-utility and Parent operations generated $0.06 per share of GAAP EPS in the third quarter of 2020, which was a $0.07 per share earnings increase compared to the third quarter of 2019. The higher EPS was primarily driven by an adjustment to the credit loss liability related to legacy guarantees associated with an affiliate of Whiting Petroleum Corporation (Whiting Petroleum) and timing of income taxes.

Earnings Adjustments - Non-GAAP EPS for the three months ended September 30, 2020 excludes $0.04 per share related to the credit loss adjustment 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.

Temperature Impacts to Non-GAAP EPS- The estimated year-to-date impact of temperatures on EPS compared to normal temperatures, is a $0.01 per share gain in 2020. The midpoint of the temperature normalized non-GAAP EPS guidance for the full year 2020 is $2.42.


1

The following information was filed by Alliant Energy Corp (LNT) on Tuesday, November 3, 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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