Press release
Alliant Energy Announces First Quarter 2023 Results
Reaffirming 2023 earnings guidance range of $2.82 - $2.96 First quarter 2023 GAAP earnings per share were $0.65 MADISON, Wis.--(BUSINESS WIRE)-- Alliant
About this update from Alliant Energy Corporation
[{"type":"text","content":"\n\nReaffirming 2023 earnings guidance range of $2.82 - $2.96\n\n\n\nFirst quarter 2023 GAAP earnings per share were $0.65\n\n\n\n MADISON, Wis.--(BUSINESS WIRE)--\nAlliant 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:\n\n\n\n\n \n\n\n\n\n\n\nGAAP EPS\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n2022\n\n\n\n\n\n\n\n\nUtilities and Corporate Services\n\n\n\n\n\n\n$0.65\n\n\n\n\n\n\n \n\n\n\n\n\n\n$0.73\n\n\n\n\n\n\n\n\nAmerican Transmission Company (ATC) Holdings\n\n\n\n\n\n\n0.04\n\n\n\n\n\n\n \n\n\n\n\n\n\n0.03\n\n\n\n\n\n\n\n\nNon-utility and Parent\n\n\n\n\n\n\n(0.04)\n\n\n\n\n\n\n \n\n\n\n\n\n\n0.01\n\n\n\n\n\n\n\n\nAlliant Energy Consolidated\n\n\n\n\n\n\n$0.65\n\n\n\n\n\n\n \n\n\n\n\n\n\n$0.77\n\n\n\n\n\n\n\n“We had a solid start to the year and are well positioned to deliver on our long-term growth objectives. With the exception of the mild weather, results were in line with our expectations, allowing us to reaffirm our 2023 earnings guidance,” said John Larsen, Alliant Energy Board Chair and CEO. “Guided by our purpose-driven clean energy transition, we are on track to place 840 MW of utility scale solar in service by the first half of 2024.”\n\n\nUtilities and Corporate Services - Alliant Energy’s Utilities and Alliant Energy Corporate Services, Inc. (Corporate Services) operations generated $0.65 per share of GAAP EPS in the first quarter of 2023, which was $0.08 per share lower than the first quarter of 2022. The primary drivers of lower EPS were lower retail electric and gas sales due to impacts of warmer than normal temperatures on customer demand in 2023, compared to an increase in sales in the first quarter of 2022 due to impacts of colder than normal temperatures on customer demand, higher interest expense and timing of income tax expense. These items were partially offset by higher electric revenues resulting from higher revenue requirements and allowance for funds used during construction (AFUDC) from Wisconsin Power and Light Company’s (WPL’s) capital investments.\n\n\nNon-utility and Parent - Alliant Energy’s Non-utility and Parent operations generated $(0.04) per share of GAAP EPS in the first quarter of 2023, which was a $0.05 per share e...