Alliant Energy Corporation · NASDAQ:LNT
Alliant Energy — Q4 2023 Earnings Presentation
12 slides from Alliant Energy's earnings presentation, Feb 16, 2024
Slide 1: Alliant Energy Corporation 2023 Year End Earnings Call
Alliant Energy Corporation 2023 Year End Earnings Call February 16, 2024
Slide 2: Cautionary Statements
Cautionary Statements Forward-looking Statements The forecasted information regarding total shareowner returns, earnings per share (EPS), long-term EPS, dividend yield, effective income tax rates, financing plans and regulatory plans contain forward-looking statements. Actual results could differ ma
Slide 3: Investment Thesis
Investment Thesis Alliant Energy provides a compelling investment proposition Among top performers for reliability when compared to peers in the U.S. utility 5-7% industry Long-Term EPS growth ~8-10% Leader in regulated, owned renewables- comprising 30% of 2023 Total Shareholder year-end rate base ~
Slide 4: 2023 Accomplishments
2023 Accomplishments Consistency and excellence delivered – advancing generation transformation Consistency Delivered Achieved adjusted EPS growth within target 5-7% range for 14th consecutive year Dividend growth in 2023 represented 20th consecutive year Generation Transformation Progress Sol
Slide 5: Awards & Recognition
Awards & Recognition Our purpose of serving customers and building stronger communities drives our commitment to excellence 5 2023 Year End Earnings Call
Slide 6: Financial Highlights – 2023 Full Year Results
Financial Highlights – 2023 Full Year Results 2023 $2.88 Adjusted EPS is 5.5% growth over 2022 Adjusted EPS GAAP Earnings Drivers GAAP EPS Adjusted EPS + Revenue requirements and higher AFUDC from capital investments $2.88 + Lower operation and maintenance expenses at IPL and WPL $2.78 $2.73 $2.73 –
Slide 7: Consistent Earnings Growth
Consistent Earnings Growth Delivered on 5-7% growth for the 14th consecutive year 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Adjusted EPS Dividends Adjusted EPS ~6% CAGR over the past 10 years Dividends ~6% CAGR, consistent 60-70% payout ratio 7 2023 Year End Earnings Call
Slide 8: 2024 Guidance and Assumptions
2024 Guidance and Assumptions Reaffirming guidance range of $2.99 - $3.13 $1.92 expected annual common stock dividend target, a 6% increase $3.06 $2.88 2024 Earnings Drivers: + Higher earnings from capital investments – Higher depreciation expense – Higher financing costs 2023 Adjusted EPS 2024 Guid
Slide 9: 2024 Financing Plans
2024 Financing Plans No material new common equity planned ($ in Millions) AE Finance/Parent IPL WPL Long-Term Debt: Issuances Up to $700 Up to $700 Up to $300 Maturities ($300) in March 2024 ($500) in December 2024 Equity: Issuance ~$25 from our Shareowner Direct Plan Anticipate approximately $12
Slide 10: Regulatory Update
Regulatory Update Customer focused investments and regulatory proceedings underway Recent Approvals WPL deferral for solar costs above the construction cost authorizations (6680-AF-107) Regulatory Progress Customer Investments WPL is awaiting rulings from the PSCW for: Capacity and efficiency
Slide 11: Iowa Rate Review – Docket RPU-2023-0002
Iowa Rate Review – Docket RPU-2023-0002 Investing in a diverse energy mix and modernizing the energy grid to deliver a more reliable, sustainable, resilient and secure energy future Procedural Schedule 4/16 OCA and Intervenor Direct Testimony 5/14 IPL Rebuttal Testimony 5/28 Surrebuttal Testimony 6/
Slide 12: GAAP to Non-GAAP EPS Reconciliation
GAAP to Non-GAAP EPS Reconciliation 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 GAAP EPS from continuing operations $1.74 $1.69 $1.65 $1.99 $2.19 $2.33 $2.47 $2.63 $2.73 $2.78 • Temperature impacts (0.04) 0.04 0.00 0.06 (0.06) (0.05) (0.01) (0.05) (0.07) 0.06 Non-GAAP adjustments: • Losses fro