Press release
Alliant Energy Announces 2019 Results
MADISON, Wis., Feb. 20, 2020 /PRNewswire/ -- Alliant Energy Corporation (NASDAQ: LNT) today announced U.S. generally accepted accounting principles (GAAP) and
About this update from Alliant Energy Corporation
[{"type":"text","content":"MADISON, Wis., Feb. 20, 2020 /PRNewswire/ -- 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:\n\n \n \n\n \nGAAP EPS\nNon-GAAP EPS\n2019\n2018\n2019\n2018\nUtilities and Corporate Services\n$2.22\n$2.08\n$2.22\n$2.06\nAmerican Transmission Company (ATC) Holdings\n0.14\n0.12\n0.12\n0.12\nNon-utility and Parent\n(0.03)\n(0.01)\n(0.03)\n(0.01)\nAlliant Energy Consolidated\n$2.33\n$2.19\n$2.31\n$2.17\n\"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.\"\nUtilities 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.\nNon-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.\nEarnings 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 a...