Alliant Energy has announced U.S. (GAAP) and non-GAAP consolidated unaudited earnings per share (EPS) for the three months ended September 30.
Utilities and Corporate Services - Alliant Energy’s Utilities and Alliant Energy Corporate Services, Inc. (Corporate Services) operations generated $0.99 per share of GAAP EPS in the third quarter of 2022, which was $0.02 per share lower than the third quarter of 2021. The primary drivers of lower EPS were higher interest expense and timing of income tax expense.
Non-utility and Parent - Alliant Energy’s Non-utility and Parent operations generated $0.11 per share of GAAP EPS in the third quarter of 2022, which was a $0.09 per share earnings decrease compared to the third quarter of 2021. The lower EPS was primarily driven by higher interest expense, timing of income taxes, and a non-GAAP charge related to the recently announced Iowa state income tax rate change.
Earnings Adjustments - Non-GAAP EPS for the three months ended September 30, 2022 excludes $0.03 per share related to the Iowa state income tax rate change described above for Alliant Energy’s Non-utility and Parent. Non-GAAP adjustments, which relate to material charges or income that are not normally associated with ongoing operations, provided as a supplement to results reported in accordance with GAAP.
Estimated Net Temperature Impacts to Non-GAAP EPS - The estimated year-to-date impact of net temperatures on EPS compared to normal temperatures is a $0.07 per share gain in 2022. The midpoint of the temperature normalized non-GAAP EPS guidance for the full year 2022 is $2.73.
“Our purpose-driven strategy continues to deliver solid financial results, and our industry-leading renewable execution has seen an additional 100 megawatts of solar generation placed into service,” said John Larsen, Alliant Energy Chair, President and CEO. “Our raised and narrowed 2022 earnings guidance, announced 2023 earnings range and six percent common stock dividend target reinforce the strong performance and predicable long-term growth of our company.”
