Alliant Energy Corporation · NASDAQ:LNT
Alliant Energy — Q3 2021 Earnings Presentation
11 slides from Alliant Energy's earnings presentation, Nov 5, 2021
Slide 1: Alliant Energy Corporation Supplemental Information – November 5, 2021 Earnings Call
Alliant Energy Corporation Supplemental Information – November 5, 2021 Earnings Call
Slide 2: Forward-Looking Statements
1 Alliant Energy Corporation Supplemental Information – November 5, 2021 Earnings Call Forward-Looking Statements These slides contain forward-looking statements, including 2021 and 2022 earnings guidance, terms of the WPL rate review settlement, details of our IPL advance ratemaking filing, informa
Slide 3: Company highlights
Environmental Progress 2 Company highlights • In 2020, reduced carbon dioxide (CO2) emissions by 42% from 2005 levels • In 2020, reduced water supply needed for our fossil generation by 66% from 2005 levels • Commitment to plant 1 million trees in our service territory by 2030 Social Strengths • Inc
Slide 4: Raised 2021 Guidance
3 Raised 2021 Guidance 2021 Updated Guidance 2021 EPS Guidance • Raised guidance: $2.61 - $2.67 earnings per share with a midpoint $2.67 of $2.64 earnings per share due to $2.64 strong YTD performance primarily $2.61 due to weather • Key drivers of 2021 growth include $2.50 earnings on increasing ra
Slide 5: Projected 2022 Earnings Continue Growth Trends
4 Projected 2022 Earnings Continue Growth Trends Earnings Per Diluted Share Non-GAAP Temperature Normalized $3.00 $2.72 $2.57 $2.50 $ / share $2.00 $1.50 $1.00 $0.50 $0.00 2021 Guidance Midpoint 2022 Guidance Midpoint 2022 vs. 2021 • Midpoint of full year earnings guidance up 6% over temperature-nor
Slide 6: Refreshed Plan Increases Investment in Renewables
5 Refreshed Plan Increases Investment in Renewables ~$0.5 billion increase versus last year’s plan supports 6% rate base CAGR $1.7 $1.4 $1.5 Renewables capex shown is 5yr Avg. = $1.4B net of anticipated tax equity $1.2 $1.2 partnership contributions in the following amounts: ($ Billions) • 2022: $19
Slide 7: Flexible Capital Plan Drives Higher Rate Base
Flexible Capital Plan Drives Higher Rate Base 6 Refreshed capex plan increases and shifts some solar capex to later periods 2021 2022 2023 2024 2025 2020 10-K Gross Capital $1,295 $1,625 $1,605 $1,370 - Expenditures Changes: Renewable projects (100) (200) (115) 950 675 Electric and Gas 20 5 35 (90)
Slide 8: Key Regulatory Initiatives
7 Key Regulatory Initiatives Completed Remaining WPL WPL • Approval of 675 MW Solar CA • Decision regarding electric and (6680-CE-182) gas rate review (6680-UR-123) • Filed settlement of electric and (~Q4 2021) gas rate review • Decision regarding CA request (6680-UR-123) for 414 MW of solar generat
Slide 9: Filed IPL Advance Ratemaking Principles
8 Filed IPL Advance Ratemaking Principles (Docket No. RPU-2021-0003) Key 400 MW Solar; 75 MW Battery Storage elements Requesting 11.4% lifetime ROE for projects; 9.5% for AFUDC Requested cost cap: $1,575/kW* including transmission/AFUDC Includes solar and battery storage at the former site of the Du
Slide 10: Annual Effective Tax Rates
9 Annual Effective Tax Rates AEC IPL WPL 2022(a) 2021(a) 2022(a) 2021(a) 2022(a) 2021(a) Statutory federal income tax rate 21% 21% 21% 21% 21% 21% State income taxes, net of federal benefits 4 2 1 (1) 6 6 Production tax credits (PTCs) (15) (17) (29) (26) (4) (6) Amortization of excess deferred taxes
Slide 11: Reconciliation between GAAP and non-GAAP EPS
10 Reconciliation between GAAP and non-GAAP EPS 2020 GAAP EPS $2.47 Non-GAAP Adjustments: • Credit loss adjustments on guarantees for an affiliate of Whiting (0.02) Petroleum • Tax valuation allowance adjustment (0.02) Non-GAAP EPS $2.43 • Estimated temperature impacts (0.01) Non-GAAP temperature no