Alliant Energy Announces Third Quarter 2020 Results and Increased Annual Common Stock Dividend Target for 2021

About this update from Alliant Energy Corporation

[{"type":"text","content":"Updates 2020 earnings guidance and provides 2021 earnings guidance and forecasted 2020 - 2024 capital expenditures\nMADISON, Wis., Nov. 02, 2020 (GLOBE NEWSWIRE) -- 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:\n GAAP EPS Non-GAAP EPS 2020 2019 2020 2019Utilities 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 exclud...

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