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 | 2021 | ||
Utilities and Corporate Services | $0.73 | $0.66 | |
American Transmission Company (ATC) Holdings | 0.03 | 0.03 | |
Non-utility and Parent | 0.01 | (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:
Variance | |
Higher allowance for funds used during construction | $0.02 |
Higher revenue requirements primarily due to increasing rate base at WPL | 0.02 |
Estimated temperature impact on retail electric and gas sales | 0.02 |
Other (includes higher temperature-normalized sales in 2022) | 0.03 |
Total | $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 covering the 2022/2023 Test Period. WPL recognized a $0.02 per share increase in the first quarter of 2022 due to higher revenue requirements from increasing rate base, including investments in solar generation. The construction activity related to these investments also resulted in higher AFUDC for the first quarter of 2022.
Estimated temperature impact on retail electric and gas sales - Alliant Energy’s retail electric and gas sales increased an estimated $0.03 per share in the first quarter of 2022 due to impacts of colder than normal temperatures on customer demand, compared to an estimated increase of $0.01 per share in the first quarter of 2021.
2022 Earnings Guidance
Alliant Energy’s consolidated guidance of $2.67 to $2.81 earnings per share for 2022 remains unchanged. Drivers for Alliant Energy’s 2022 earnings guidance include, but are not limited to:
The 2022 earnings guidance does not include the impacts of any material non-cash valuation adjustments, regulatory-related charges or credits, reorganizations or restructurings, future changes in laws including corporate tax reform in Iowa, regulations or regulatory policies, adjustments made to deferred tax assets and liabilities from valuation allowances, changes in credit loss liabilities related to guarantees, pending lawsuits and disputes, federal and state income tax audits and other Internal Revenue Service proceedings, or changes in GAAP and tax methods of accounting that may impact the reported results of Alliant Energy.
Earnings Conference Call
A conference call to review the first quarter 2022 results is scheduled for Friday, April 29, 2022 at 9 a.m. central time. Alliant Energy Chair, President and Chief Executive Officer John Larsen, and Executive Vice President and Chief Financial Officer Robert Durian will host the call. The conference call is open to the public and can be accessed in two ways. Interested parties may listen to the call by dialing 888-394-8218 (United States or Canada) or 323-794-2149 (International), passcode 4175543. Interested parties may also listen to a webcast at www.alliantenergy.com/investors. In conjunction with the information in this earnings announcement and the conference call, Alliant Energy posted supplemental materials on its website. A replay of the call will be available through May 6, 2022, at 888-203-1112 (United States or Canada) or 719-457-0820 (International), passcode 4175543. An archive of the webcast will be available on the Company’s Web site at www.alliantenergy.com/investors for 12 months.
About Alliant Energy Corporation
Alliant Energy is the parent company of two public utility companies - Interstate Power and Light Company and Wisconsin Power and Light Company - and of Alliant Energy Finance, LLC, the parent company of Alliant Energy’s non-utility operations. Alliant Energy is an energy-services provider with utility subsidiaries serving approximately 985,000 electric and 425,000 natural gas customers. Providing its customers in the Midwest with regulated electricity and natural gas service is the Company’s primary focus. Alliant Energy, headquartered in Madison, Wisconsin, is a component of the S&P 500 and is traded on the Nasdaq Global Select Market under the symbol LNT. For more information, visit the Company’s Web site at www.alliantenergy.com.
Forward-Looking Statements
This press release includes forward-looking statements. These forward-looking statements can be identified by words such as “forecast,” “expect,” “guidance,” or other words of similar import. Similarly, statements that describe future financial performance or plans or strategies are forward-looking statements. Such forward looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Actual results could be materially affected by the following factors, among others:
For more information about potential factors that could affect Alliant Energy’s business and financial results, refer to Alliant Energy’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”), including the section therein titled “Risk Factors,” and its other filings with the SEC.
Without limitation, the expectations with respect to 2022 earnings guidance in this press release are forward-looking statements and are based in part on certain assumptions made by Alliant Energy, some of which are referred to in the forward-looking statements. Alliant Energy cannot provide any assurance that the assumptions referred to in the forward-looking statements or otherwise are accurate or will prove to be correct. Any assumptions that are inaccurate or do not prove to be correct could have a material adverse effect on Alliant Energy’s ability to achieve the estimates or other targets included in the forward-looking statements. The forward-looking statements included herein are made as of the date hereof and, except as required by law, Alliant Energy undertakes no obligation to update publicly such statements to reflect subsequent events or circumstances.
Use of Non-GAAP Financial Measures
To provide investors with additional information regarding Alliant Energy’s financial results, this press release includes reference to certain non-GAAP financial measures.
Alliant Energy included in this press release IPL; WPL; Corporate Services; Utilities and Corporate Services; ATC Holdings; and Non-utility and Parent EPS for the three months ended March 31, 2022 and 2021. Alliant Energy believes these non-GAAP financial measures are useful to investors because they facilitate an understanding of segment performance and trends, and provide additional information about Alliant Energy’s operations on a basis consistent with the measures that management uses to manage its operations and evaluate its performance.
This press release references year-over-year variances in utility electric margins and utility gas margins. Utility electric margins and utility gas margins are non-GAAP financial measures that will be reported and reconciled to the most directly comparable GAAP measure, operating income, in our first quarter 2022 Form 10-Q.
Note: Unless otherwise noted, all “per share” references in this release refer to earnings per diluted share.
ALLIANT ENERGY CORPORATION | ||||
EARNINGS SUMMARY (Unaudited) | ||||
The following tables provide a summary of Alliant Energy’s results for the three months ended March 31: | ||||
EPS: | GAAP EPS | |||
2022 | 2021 | |||
IPL | $0.35 | $0.31 | ||
WPL | 0.37 | 0.34 | ||
Corporate Services | 0.01 | 0.01 | ||
Subtotal for Utilities and Corporate Services | 0.73 | 0.66 | ||
ATC Holdings | 0.03 | 0.03 | ||
Non-utility and Parent | 0.01 | (0.01 | ) | |
Alliant Energy Consolidated | $0.77 | $0.68 |
Earnings (in millions): | GAAP Income (Loss) | |||
2022 | 2021 | |||
IPL | $87 | $79 | ||
WPL | 92 | 84 | ||
Corporate Services | 4 | 3 | ||
Subtotal for Utilities and Corporate Services | 183 | 166 | ||
ATC Holdings | 8 | 8 | ||
Non-utility and Parent | 1 | (3 | ) | |
Alliant Energy Consolidated | $192 | $171 |
ALLIANT ENERGY CORPORATION | |||||
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) | |||||
Three Months Ended March 31, | |||||
2022 | 2021 | ||||
(in millions, except per share amounts) | |||||
Revenues: | |||||
Electric utility | $773 | $701 | |||
Gas utility | 262 | 170 | |||
Other utility | 11 | 13 | |||
Non-utility | 22 | 17 | |||
1,068 | 901 | ||||
Operating expenses: | |||||
Electric production fuel and purchased power | 168 | 133 | |||
Electric transmission service | 138 | 134 | |||
Cost of gas sold | 168 | 100 | |||
Other operation and maintenance: | |||||
Energy efficiency costs | 11 | 5 | |||
Non-utility Travero | 16 | 13 | |||
Other | 126 | 128 | |||
Depreciation and amortization | 166 | 164 | |||
Taxes other than income taxes | 27 | 26 | |||
820 | 703 | ||||
Operating income | 248 | 198 | |||
Other (income) and deductions: | |||||
Interest expense | 74 | 69 | |||
Equity income from unconsolidated investments, net | (15 | ) | (15 | ) | |
Allowance for funds used during construction | (11 | ) | (4 | ) | |
Other | — | 2 | |||
48 | 52 | ||||
Income before income taxes | 200 | 146 | |||
Income tax expense (benefit) | 8 | (28 | ) | ||
Net income | 192 | 174 | |||
Preferred dividend requirements of IPL | — | 3 | |||
Net income attributable to Alliant Energy common shareowners | $192 | $171 | |||
Weighted average number of common shares outstanding: | |||||
Basic | 250.6 | 250.0 | |||
Diluted | 250.9 | 250.4 | |||
Earnings per weighted average common share attributable to Alliant Energy common shareowners (basic and diluted) | $0.77 | $0.68 |
ALLIANT ENERGY CORPORATION | |||
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) | |||
March 31, 2022 | December 31, 2021 | ||
(in millions) | |||
ASSETS: | |||
Current assets: | |||
Cash and cash equivalents | $67 | $39 | |
Other current assets | 1,025 | 1,030 | |
Property, plant and equipment, net | 15,192 | 14,987 | |
Investments | 533 | 517 | |
Other assets | 2,022 | 1,980 | |
Total assets | $18,839 | $18,553 | |
LIABILITIES AND EQUITY: | |||
Current liabilities: | |||
Current maturities of long-term debt | $333 | $633 | |
Commercial paper | 276 | 515 | |
Other current liabilities | 912 | 906 | |
Long-term debt, net (excluding current portion) | 7,383 | 6,735 | |
Other liabilities | 3,858 | 3,774 | |
Alliant Energy Corporation common equity | 6,077 | 5,990 | |
Total liabilities and equity | $18,839 | $18,553 |
ALLIANT ENERGY CORPORATION | |||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) | |||||
Three Months Ended March 31, | |||||
2022 | 2021 | ||||
(in millions) | |||||
Cash flows from operating activities: | |||||
Cash flows from operating activities excluding accounts receivable sold to a third party | $379 | $272 | |||
Accounts receivable sold to a third party | (128 | ) | (127 | ) | |
Net cash flows from operating activities | 251 | 145 | |||
Cash flows used for investing activities: | |||||
Construction and acquisition expenditures: | |||||
Utility business | (307 | ) | (214 | ) | |
Other | (23 | ) | (17 | ) | |
Cash receipts on sold receivables | 115 | 209 | |||
Other | (8 | ) | (16 | ) | |
Net cash flows used for investing activities | (223 | ) | (38 | ) | |
Cash flows from (used for) financing activities: | |||||
Common stock dividends | (107 | ) | (102 | ) | |
Proceeds from issuance of long-term debt | 650 | — | |||
Payments to retire long-term debt | (300 | ) | — | ||
Net change in commercial paper | (239 | ) | (53 | ) | |
Other | (1 | ) | 10 | ||
Net cash flows from (used for) financing activities | 3 | (145 | ) | ||
Net increase (decrease) in cash, cash equivalents and restricted cash | 31 | (38 | ) | ||
Cash, cash equivalents and restricted cash at beginning of period | 40 | 56 | |||
Cash, cash equivalents and restricted cash at end of period | $71 | $18 |
KEY FINANCIAL AND OPERATING STATISTICS | |||
March 31, 2022 | March 31, 2021 | ||
Common shares outstanding (000s) | 250,814 | 250,135 | |
Book value per share | $24.23 | $23.05 | |
Quarterly common dividend rate per share | $0.4275 | $0.4025 |
Three Months Ended March 31, | |||
2022 | 2021 | ||
Utility electric sales (000s of megawatt-hours) | |||
Residential | 1,945 | 1,878 | |
Commercial | 1,612 | 1,560 | |
Industrial | 2,596 | 2,618 | |
Industrial - co-generation customers | 235 | 216 | |
Retail subtotal | 6,388 | 6,272 | |
Sales for resale: | |||
Wholesale | 721 | 686 | |
Bulk power and other | 1,224 | 385 | |
Other | 17 | 19 | |
Total | 8,350 | 7,362 | |
Utility retail electric customers (at March 31) | |||
Residential | 836,907 | 830,540 | |
Commercial | 144,752 | 143,872 | |
Industrial | 2,441 | 2,471 | |
Total | 984,100 | 976,883 | |
Utility gas sold and transported (000s of dekatherms) | |||
Residential | 15,360 | 13,731 | |
Commercial | 9,589 | 8,611 | |
Industrial | 1,146 | 1,089 | |
Retail subtotal | 26,095 | 23,431 | |
Transportation / other | 29,877 | 24,690 | |
Total | 55,972 | 48,121 | |
Utility retail gas customers (at March 31) | |||
Residential | 378,990 | 376,341 | |
Commercial | 44,749 | 44,564 | |
Industrial | 341 | 346 | |
Total | 424,080 | 421,251 | |
Estimated margin increases from impacts of temperatures (in millions) - | |||
Three Months Ended March 31, | |||
2022 | 2021 | ||
Electric margins | $7 | $3 | |
Gas margins | 4 | 2 | |
Total temperature impact on margins | $11 | $5 |
Three Months Ended March 31, | |||||
2022 | 2021 | Normal | |||
Heating degree days (HDDs)(a) | |||||
Cedar Rapids, Iowa (IPL) | 3,749 | 3,606 | 3,440 | ||
Madison, Wisconsin (WPL) | 3,719 | 3,599 | 3,528 |
(a) HDDs are calculated using a simple average of the high and low temperatures each day compared to a 65 degree base. Normal degree days are calculated using a rolling 20-year average of historical HDDs.
Media Hotline: | (608) 458-4040 | |
Investor Relations: | Zac Fields (319) 786-8146 |
МЭДИСОН, ВИСКОНСИН, 28 апреля 2022 г. (GLOBE NEWSWIRE) -- Корпорация Alliant Energy (NASDAQ: LNT) сегодня объявила о консолидированной неаудированной прибыли на акцию (EPS) по общепринятым принципам бухгалтерского учета США (GAAP) за три месяца, закончившихся 31 марта, следующим образом:
GAAP EPS | |||
2022 | 2021 | ||
Utilities and Corporate Services | $0.73 | $0.66 | |
American Transmission Company (ATC) Holdings | 0.03 | 0.03 | |
Non-utility and Parent | 0.01 | (0.01) | |
Alliant Energy Consolidated | $0.77 | $0.68 |
“У нас было уверенное начало года: в первом квартале более 25% от нашей средней точки прогноза на 2022 год, и мы подтверждаем наш прогнозный диапазон на 2022 год в размере от 2,67 до 2,81 доллара”, - сказал Джон Ларсен, председатель Alliant Energy, президент и главный исполнительный директор. “Мы также рады поделиться еще одной важной вехой в нашем целенаправленном переходе на экологически чистую энергетику, получив сегодня устное одобрение на оставшиеся 414 мегаватт из наших почти 1100 мегаватт, предлагаемых для расширения солнечной энергии в Висконсине”.
Коммунальные услуги и корпоративные услуги - Alliant Energy's Utilities и Alliant Energy Corporate Services, Inc. Операции (Корпоративные услуги) принесли прибыль на акцию по GAAP в размере 0,73 доллара США в первом квартале 2022 года, что на 0,07 доллара США на акцию выше, чем в первом квартале 2021 года. Основными факторами повышения EPS были более высокие отчисления на средства, использованные во время строительства (AFUDC), более высокие доходы в результате увеличения базовой ставки Wisconsin Power and Light Company (WPL), более высокие продажи из-за благоприятного воздействия температуры по сравнению с 2021 годом, а также более высокие продажи с нормированием температуры.
Ниже приведены подробные сведения о разнице в прибыли на акцию по ОПБУ между первыми кварталами 2022 и 2021 годов для Alliant Energy:
Variance | |
Higher allowance for funds used during construction | $0.02 |
Higher revenue requirements primarily due to increasing rate base at WPL | 0.02 |
Estimated temperature impact on retail electric and gas sales | 0.02 |
Other (includes higher temperature-normalized sales in 2022) | 0.03 |
Total | $0.09 |
Более высокие требования к доходам в первую очередь из-за увеличения базовой ставки в WPL - В декабре 2021 года WPL получила приказ от Комиссии по государственной службе штата Висконсин, утверждающий предлагаемое WPL урегулирование для пересмотра розничных тарифов на электроэнергию и газ, охватывающий Тестовый период 2022/2023 годов. WPL признала рост на 0,02 доллара на акцию в первом квартале 2022 года из-за более высоких требований к доходам от увеличения базовой ставки, включая инвестиции в солнечную генерацию. Строительная деятельность, связанная с этими инвестициями, также привела к увеличению AFUDC в первом квартале 2022 года.
Предполагаемое влияние температуры на розничные продажи электроэнергии и газа - Розничные продажи электроэнергии и газа Alliant Energy выросли примерно на 0,03 доллара на акцию в первом квартале 2022 года из-за влияния более низких, чем обычно, температур на потребительский спрос, по сравнению с предполагаемым увеличением на 0,01 доллара на акцию в первом квартале 2021 года.
Прогноз по доходам на 2022 год
Консолидированный прогноз Alliant Energy по прибыли на акцию на 2022 год в размере от 2,67 до 2,81 доллара США остается неизменным. Факторы, определяющие прогноз прибыли Alliant Energy на 2022 год, включают, но не ограничиваются ими:
Руководство по доходам на 2022 год не включает влияние каких-либо существенных корректировок неденежной оценки, связанных с регулированием расходов или кредитов, реорганизаций или реструктуризаций, будущих изменений в законодательстве, включая реформу корпоративного налогообложения в Айове, нормативных актов или политики регулирования, корректировок, внесенных в отложенные налоговые активы и обязательства за счет оценочных резервов, изменений в кредитных обязательства по убыткам, связанные с гарантиями, ожидающими рассмотрения судебными исками и спорами, проверками федерального и государственного подоходного налога и другими разбирательствами Налоговой службы или изменениями в GAAP и налоговых методах учета, которые могут повлиять на отчетные результаты Alliant Energy.
Конференц-связь по доходам
Селекторное совещание для рассмотрения результатов первого квартала 2022 года запланировано на пятницу, 29 апреля 2022 года, в 9 часов утра по центральному времени. Председатель Alliant Energy, Президент и главный исполнительный директор Джон Ларсен и исполнительный вице-президент и финансовый директор Роберт Дуриан проведут звонок. Конференц-связь открыта для публики, и к ней можно получить доступ двумя способами. Заинтересованные стороны могут прослушать звонок, набрав 888-394-8218 (Соединенные Штаты или Канада) или 323-794-2149 (международный), код доступа 4175543. Заинтересованные стороны также могут прослушать веб-трансляцию по адресу www.alliantenergy.com/investors . В сочетании с информацией, содержащейся в этом объявлении о доходах и телефонной конференции, Alliant Energy разместил дополнительные материалы на своем веб-сайте. Повторный вызов будет доступен до 6 мая 2022 года по телефону 888-203-1112 (Соединенные Штаты или Канада) или 719-457-0820 (международный), код доступа 4175543. Архив веб-трансляции будет доступен на веб-сайте Компании по адресу www.alliantenergy.com/investors в течение 12 месяцев.
О корпорации Alliant Energy
Alliant Energy является материнской компанией двух коммунальных компаний - Interstate Power and Light Company и Wisconsin Power and Light Company - и Alliant Energy Finance, LLC, материнской компании Alliant Energy, не связанной с коммунальными операциями. Alliant Energy - поставщик энергетических услуг с дочерними компаниями, обслуживающими около 985 000 потребителей электроэнергии и 425 000 потребителей природного газа. Основным направлением деятельности компании является предоставление своим клиентам на Среднем Западе регулируемых услуг по электроснабжению и газоснабжению. Alliant Energy со штаб-квартирой в Мэдисоне, штат Висконсин, является составной частью S&P 500 и торгуется на Nasdaq Global Select Market под символом LNT. Для получения дополнительной информации посетите веб-сайт Компании по адресу www.alliantenergy.com .
Прогнозные заявления
Этот пресс-релиз содержит прогнозные заявления. Эти прогнозные заявления могут быть идентифицированы такими словами, как “прогноз”, “ожидать”, “руководство” или другими словами аналогичного значения. Аналогичным образом, заявления, описывающие будущие финансовые показатели, планы или стратегии, являются прогнозными заявлениями. Такие прогнозные заявления подвержены определенным рискам и неопределенностям, которые могут привести к тому, что фактические результаты будут существенно отличаться от тех, которые выражены в таких заявлениях или подразумеваются в них. На фактические результаты могут существенно повлиять, в частности, следующие факторы:
Для получения дополнительной информации о потенциальных факторах, которые могут повлиять на бизнес и финансовые результаты Alliant Energy, обратитесь к последнему Годовому отчету Alliant Energy по форме 10-K, поданному в Комиссию по ценным бумагам и биржам (“SEC”), включая раздел, озаглавленный “Факторы риска”, и другие его документы в SEC.
Помимо прочего, ожидания в отношении руководства по доходам на 2022 год в этом пресс-релизе являются прогнозными заявлениями и частично основаны на определенных предположениях, сделанных Alliant Energy, некоторые из которых упоминаются в прогнозных заявлениях. Alliant Energy не может предоставить никаких гарантий того, что предположения, упомянутые в прогнозных заявлениях или иным образом, являются точными или окажутся правильными. Любые неточные или неверные предположения могут оказать существенное негативное влияние на способность Alliant Energy достичь оценок или других целей, включенных в прогнозные заявления. Заявления прогнозного характера, включенные в настоящий документ, сделаны на дату настоящего соглашения, и, за исключением случаев, предусмотренных законом, Alliant Energy не берет на себя никаких обязательств по публичному обновлению таких заявлений, чтобы отразить последующие события или обстоятельства.
Использование финансовых показателей, не относящихся к ОПБУ
Чтобы предоставить инвесторам дополнительную информацию о финансовых результатах Alliant Energy, в этом пресс-релизе содержатся ссылки на некоторые финансовые показатели, не относящиеся к GAAP.
Alliant Energy включены в этот пресс-релиз IPL; WPL; Корпоративные услуги; Коммунальные услуги и корпоративные услуги; ATC Holdings; и Не связанные с коммунальными услугами и Материнские EPS за три месяца, закончившихся 31 марта 2022 и 2021 годов. Alliant Energy считает, что эти финансовые показатели, не относящиеся к GAAP, полезны для инвесторов, поскольку они облегчают понимание показателей и тенденций сегмента и предоставляют дополнительную информацию о деятельности Alliant Energy на основе, согласующейся с показателями, которые руководство использует для управления своей деятельностью и оценки ее результатов.
В этом пресс-релизе упоминаются годовые различия в маржинальности коммунальных услуг на электроэнергию и на газ. Наценка на электроэнергию и наценка на газ являются финансовыми показателями, не относящимися к GAAP, которые будут представлены и сверены с наиболее непосредственно сопоставимым показателем GAAP, операционным доходом, в нашей форме 10-Q за первый квартал 2022 года.
Примечание: Если не указано иное, все ссылки на “на акцию” в этом выпуске относятся к прибыли на разводненную акцию.
Alliant Energy CORPORATION | ||||
EARNINGS SUMMARY (Unaudited) | ||||
The following tables provide a summary of Alliant Energy’s results for the three months ended March 31: | ||||
EPS: | GAAP EPS | |||
2022 | 2021 | |||
IPL | $0.35 | $0.31 | ||
WPL | 0.37 | 0.34 | ||
Corporate Services | 0.01 | 0.01 | ||
Subtotal for Utilities and Corporate Services | 0.73 | 0.66 | ||
ATC Holdings | 0.03 | 0.03 | ||
Non-utility and Parent | 0.01 | (0.01 | ) | |
Alliant Energy Consolidated | $0.77 | $0.68 |
Earnings (in millions): | GAAP Income (Loss) | |||
2022 | 2021 | |||
IPL | $87 | $79 | ||
WPL | 92 | 84 | ||
Corporate Services | 4 | 3 | ||
Subtotal for Utilities and Corporate Services | 183 | 166 | ||
ATC Holdings | 8 | 8 | ||
Non-utility and Parent | 1 | (3 | ) | |
Alliant Energy Consolidated | $192 | $171 |
Alliant Energy CORPORATION | |||||
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) | |||||
Three Months Ended March 31, | |||||
2022 | 2021 | ||||
(in millions, except per share amounts) | |||||
Revenues: | |||||
Electric utility | $773 | $701 | |||
Gas utility | 262 | 170 | |||
Other utility | 11 | 13 | |||
Non-utility | 22 | 17 | |||
1,068 | 901 | ||||
Operating expenses: | |||||
Electric production fuel and purchased power | 168 | 133 | |||
Electric transmission service | 138 | 134 | |||
Cost of gas sold | 168 | 100 | |||
Other operation and maintenance: | |||||
Energy efficiency costs | 11 | 5 | |||
Non-utility Travero | 16 | 13 | |||
Other | 126 | 128 | |||
Depreciation and amortization | 166 | 164 | |||
Taxes other than income taxes | 27 | 26 | |||
820 | 703 | ||||
Operating income | 248 | 198 | |||
Other (income) and deductions: | |||||
Interest expense | 74 | 69 | |||
Equity income from unconsolidated investments, net | (15 | ) | (15 | ) | |
Allowance for funds used during construction | (11 | ) | (4 | ) | |
Other | — | 2 | |||
48 | 52 | ||||
Income before income taxes | 200 | 146 | |||
Income tax expense (benefit) | 8 | (28 | ) | ||
Net income | 192 | 174 | |||
Preferred dividend requirements of IPL | — | 3 | |||
Net income attributable to Alliant Energy common shareowners | $192 | $171 | |||
Weighted average number of common shares outstanding: | |||||
Basic | 250.6 | 250.0 | |||
Diluted | 250.9 | 250.4 | |||
Earnings per weighted average common share attributable to Alliant Energy common shareowners (basic and diluted) | $0.77 | $0.68 |
Alliant Energy CORPORATION | |||
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) | |||
March 31, 2022 | December 31, 2021 | ||
(in millions) | |||
ASSETS: | |||
Current assets: | |||
Cash and cash equivalents | $67 | $39 | |
Other current assets | 1,025 | 1,030 | |
Property, plant and equipment, net | 15,192 | 14,987 | |
Investments | 533 | 517 | |
Other assets | 2,022 | 1,980 | |
Total assets | $18,839 | $18,553 | |
LIABILITIES AND EQUITY: | |||
Current liabilities: | |||
Current maturities of long-term debt | $333 | $633 | |
Commercial paper | 276 | 515 | |
Other current liabilities | 912 | 906 | |
Long-term debt, net (excluding current portion) | 7,383 | 6,735 | |
Other liabilities | 3,858 | 3,774 | |
Alliant Energy Corporation common equity | 6,077 | 5,990 | |
Total liabilities and equity | $18,839 | $18,553 |
Alliant Energy CORPORATION | |||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) | |||||
Three Months Ended March 31, | |||||
2022 | 2021 | ||||
(in millions) | |||||
Cash flows from operating activities: | |||||
Cash flows from operating activities excluding accounts receivable sold to a third party | $379 | $272 | |||
Accounts receivable sold to a third party | (128 | ) | (127 | ) | |
Net cash flows from operating activities | 251 | 145 | |||
Cash flows used for investing activities: | |||||
Construction and acquisition expenditures: | |||||
Utility business | (307 | ) | (214 | ) | |
Other | (23 | ) | (17 | ) | |
Cash receipts on sold receivables | 115 | 209 | |||
Other | (8 | ) | (16 | ) | |
Net cash flows used for investing activities | (223 | ) | (38 | ) | |
Cash flows from (used for) financing activities: | |||||
Common stock dividends | (107 | ) | (102 | ) | |
Proceeds from issuance of long-term debt | 650 | — | |||
Payments to retire long-term debt | (300 | ) | — | ||
Net change in commercial paper | (239 | ) | (53 | ) | |
Other | (1 | ) | 10 | ||
Net cash flows from (used for) financing activities | 3 | (145 | ) | ||
Net increase (decrease) in cash, cash equivalents and restricted cash | 31 | (38 | ) | ||
Cash, cash equivalents and restricted cash at beginning of period | 40 | 56 | |||
Cash, cash equivalents and restricted cash at end of period | $71 | $18 |
KEY FINANCIAL AND OPERATING STATISTICS | |||
March 31, 2022 | March 31, 2021 | ||
Common shares outstanding (000s) | 250,814 | 250,135 | |
Book value per share | $24.23 | $23.05 | |
Quarterly common dividend rate per share | $0.4275 | $0.4025 |
Three Months Ended March 31, | |||
2022 | 2021 | ||
Utility electric sales (000s of megawatt-hours) | |||
Residential | 1,945 | 1,878 | |
Commercial | 1,612 | 1,560 | |
Industrial | 2,596 | 2,618 | |
Industrial - co-generation customers | 235 | 216 | |
Retail subtotal | 6,388 | 6,272 | |
Sales for resale: | |||
Wholesale | 721 | 686 | |
Bulk power and other | 1,224 | 385 | |
Other | 17 | 19 | |
Total | 8,350 | 7,362 | |
Utility retail electric customers (at March 31) | |||
Residential | 836,907 | 830,540 | |
Commercial | 144,752 | 143,872 | |
Industrial | 2,441 | 2,471 | |
Total | 984,100 | 976,883 | |
Utility gas sold and transported (000s of dekatherms) | |||
Residential | 15,360 | 13,731 | |
Commercial | 9,589 | 8,611 | |
Industrial | 1,146 | 1,089 | |
Retail subtotal | 26,095 | 23,431 | |
Transportation / other | 29,877 | 24,690 | |
Total | 55,972 | 48,121 | |
Utility retail gas customers (at March 31) | |||
Residential | 378,990 | 376,341 | |
Commercial | 44,749 | 44,564 | |
Industrial | 341 | 346 | |
Total | 424,080 | 421,251 | |
Estimated margin increases from impacts of temperatures (in millions) - | |||
Three Months Ended March 31, | |||
2022 | 2021 | ||
Electric margins | $7 | $3 | |
Gas margins | 4 | 2 | |
Total temperature impact on margins | $11 | $5 |
Three Months Ended March 31, | |||||
2022 | 2021 | Normal | |||
Heating degree days (HDDs)(a) | |||||
Cedar Rapids, Iowa (IPL) | 3,749 | 3,606 | 3,440 | ||
Madison, Wisconsin (WPL) | 3,719 | 3,599 | 3,528 |
(a) Жесткие диски рассчитываются с использованием простого среднего значения высоких и низких температур каждый день по сравнению с базой в 65 градусов. Нормальные градусные дни рассчитываются с использованием скользящего 20-летнего среднего значения исторических жестких дисков.
Media Hotline: | (608) 458-4040 | |
Investor Relations: | Zac Fields (319) 786-8146 |