Press release
Alliant Energy Announces First Quarter 2022 Results
First quarter GAAP earnings per share was $0.77 in 2022 compared to $0.68 in 2021Reaffirming 2022 earnings guidance range of $2.67 to $2.81Received verbal
About this update from Alliant Energy Corporation
[{"type":"text","content":"First quarter GAAP earnings per share was $0.77 in 2022 compared to $0.68 in 2021Reaffirming 2022 earnings guidance range of $2.67 to $2.81Received verbal approval today for 414 megawatts of additional solar generation in Wisconsin MADISON, Wis., April 28, 2022 (GLOBE NEWSWIRE) -- Alliant Energy Corporation (NASDAQ: LNT) today announced U.S. generally accepted accounting principles (GAAP) consolidated unaudited earnings per share (EPS) for the three months ended March 31 as follows: GAAP EPS 2022 2021Utilities and Corporate Services$0.73 $0.66American Transmission Company (ATC) Holdings0.03 0.03Non-utility and Parent0.01 (0.01)Alliant Energy Consolidated$0.77 $0.68 “We had a solid start to the year with more than 25% of our 2022 guidance midpoint coming in the first quarter, and we are reaffirming our 2022 guidance range of $2.67 to $2.81,” said John Larsen, Alliant Energy Chair, President and CEO. “We are also excited to share yet another major milestone in our purpose-driven clean energy transition, receiving verbal approval today for the remaining 414 megawatts of our nearly 1,100 megawatt proposed solar expansion in Wisconsin.” Utilities and Corporate Services - Alliant Energy’s Utilities and Alliant Energy Corporate Services, Inc. (Corporate Services) operations generated $0.73 per share of GAAP EPS in the first quarter of 2022, which was $0.07 per share higher than the first quarter of 2021. The primary drivers of higher EPS were higher allowance for funds used during construction (AFUDC), higher earnings resulting from Wisconsin Power and Light Company’s (WPL’s) increasing rate base, higher sales due to favorable temperature impacts versus 2021, as well as higher temperature-normalized sales. Details regarding GAAP EPS variances between the first quarters of 2022 and 2021 for Alliant Energy are as follows: VarianceHigher allowance for funds used during construction$0.02Higher revenue requirements primarily due to increasing rate base at WPL0.02Estimated temperature impact on retail electric and gas sales0.02Other (includes higher temperature-normalized sales in 2022)0.03Total$0.09 Higher revenue requirements primarily due to increasing rate base at WPL - In December 2021, WPL received an order from the Public Service Commission of Wisconsin approving WPL’s proposed settlement for its retail electric and gas rate review co...