MADISON, Wis., Jan. 13, 2020 /PRNewswire/ -- The Alliant Energy Corporation (NASDAQ: LNT) Board of Directors today declared a quarterly cash dividend of $0.38 per share payable on February 18, 2020, to shareowners of record as of the close of business on January 31, 2020.

Dividends on common stock have been paid for 297 consecutive quarters since 1946. 

Alliant Energy Corporation (NASDAQ: LNT), headquartered in Madison, Wis., provides regulated electric and natural gas service to 965,000 electric and 415,000 natural gas customers across Iowa and Wisconsin. Alliant Energy's mission is to deliver the energy solutions and exceptional service customers and communities count on – safely, efficiently and responsibly. Interstate Power and Light Company and Wisconsin Power and Light Company are Alliant Energy's two public utility subsidiaries. Alliant Energy Corporation is a component of the S&P 500. For more information, visit alliantenergy.com.

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SOURCE Alliant Energy Corporation

MADISON, Wis., Nov. 14, 2019 /PRNewswire/ -- Alliant Energy Corporation (NASDAQ: LNT) announced today that it has priced its public offering of 3,717,502 shares of its common stock at a public offering price of $52.63 per share. At Alliant Energy's request, Barclays Bank PLC, acting as the forward counterparty, is borrowing and selling the shares to the underwriter in the offering in connection with the forward sale agreement described below. In conjunction with the offering, Alliant Energy has granted to the underwriter an option to purchase up to 557,625 additional shares of Alliant Energy's common stock. If such option is exercised, Alliant Energy may, in its sole discretion, enter into an additional forward sale agreement with the forward counterparty with respect to such additional shares, and Alliant Energy currently expects that, if such option is exercised, it will do so.

Barclays Capital Inc. is acting as underwriter for the offering and proposes to offer the shares of common stock from time to time for sale in one or more transactions on the Nasdaq Global Select Market, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.

In connection with the offering, Alliant Energy has entered into a forward sale agreement with Barclays Bank PLC, referred to in such capacity as the forward counterparty, pursuant to which Alliant Energy has agreed to sell to the forward counterparty or its affiliates (subject to its right to elect net share or cash settlement of such forward sale agreement) 3,717,502 shares of Alliant Energy's common stock, at a price per share equal to the public offering price of Alliant Energy's shares of common stock in this offering, less the underwriting discounts and commissions and subject to certain adjustments.

Alliant Energy intends to use any net proceeds received upon the settlement of the forward sale agreement for general corporate purposes, which may include repayment or refinancing of debt, working capital, construction and acquisition expenditures, investments and repurchases and redemptions of securities.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make an offer, solicitation or sale in such jurisdiction. The public offering is being made pursuant to an effective shelf registration statement that has been filed with the Securities and Exchange Commission, or SEC. A final prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov. In addition, copies of the prospectus and prospectus supplement relating to the shares of common stock offered in the offering may be obtained by contacting: Barclays Capital Inc., Attention: c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (888) 603-5847, or by e-mail at Barclaysprospectus@broadridge.com.   

Forward-Looking Statements

Statements contained in this press release that are not of historical fact are forward-looking statements intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995.  These forward-looking statements can be identified as such because the statements include words such as "may," "expects," "intends," "would," "expects," "intends" or other words of similar import.  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.  Some, but not all, of the risks and uncertainties that could materially affect actual results include, among others:

• the satisfaction of customary closing conditions relating to the offering and the forward sale agreement;
• capital market risks; and
• the impact of general economic or industry conditions.

There can be no assurance that the offering will be completed on the anticipated terms, or at all.  For more information about potential factors that could affect Alliant Energy's businesses and financial results, please review "Risk Factors" in the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2018, and Quarterly Report on Form 10-Q for the quarter ended September 30, 2019, filed with the SEC and in Alliant Energy's other filings with the SEC.  These factors should be considered when evaluating the forward-looking statements, and undue reliance should not be placed on such 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 publicly update such statements to reflect subsequent events or circumstances.

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 965,000 electric and 415,000 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.

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SOURCE Alliant Energy Corporation

MADISON, Wis., Nov. 14, 2019 /PRNewswire/ -- Alliant Energy Corporation (NASDAQ: LNT) announced today that it plans to make a public offering of $195.6 million of shares of its common stock. At Alliant Energy's request, Barclays Bank PLC, acting as the forward counterparty, expects to borrow and sell the shares to the underwriter in the offering in connection with the forward sale agreement described below. In conjunction with the offering, Alliant Energy intends to grant to the underwriter an option to purchase up to $29.3 million of additional shares of Alliant Energy's common stock.  If such option is exercised, Alliant Energy may, in its sole discretion, enter into an additional forward sale agreement with the forward counterparty with respect to such additional shares, and Alliant Energy currently expects that, if such option is exercised, it will do so.

Barclays Capital Inc. is acting as the underwriter for the offering and proposes to offer the shares of common stock from time to time for sale in one or more transactions on the Nasdaq Global Select Market, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.

In connection with the offering, Alliant Energy intends to enter into a forward sale agreement with Barclays Bank PLC, referred to in such capacity as the forward counterparty, pursuant to which Alliant Energy will agree to sell to the forward counterparty or its affiliates (subject to its right to elect net share or cash settlement of such forward sale agreement) approximately $195.6 million of shares of common stock in this offering (or $224.9 million of shares if the underwriter's option to purchase additional shares is exercised in full), less the underwriting discounts and commissions and subject to certain adjustments.

Alliant Energy intends to use any net proceeds received upon the settlement of the forward sale agreement for general corporate purposes, which may include repayment or refinancing of debt, working capital, construction and acquisition expenditures, investments and repurchases and redemptions of securities.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make an offer, solicitation or sale in such jurisdiction. The public offering is being made pursuant to an effective shelf registration statement that has been filed with the Securities and Exchange Commission, or SEC. A preliminary prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov. In addition, copies of the prospectus and preliminary prospectus supplement relating to the shares of common stock offered in the offering may be obtained when available by contacting: Barclays Capital Inc., Attention: c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (888) 603-5847, or by e-mail at Barclaysprospectus@broadridge.com.

Forward-Looking Statements

Statements contained in this press release that are not of historical fact are forward-looking statements intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995.  These forward-looking statements can be identified as such because the statements include words such as "plans," "expects," intends," "may," "will," "approximately," or other words of similar import.  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.  Some, but not all, of the risks and uncertainties that could materially affect actual results include, among others:

• the satisfaction of customary closing conditions relating to the offering and the forward sale agreement;
• capital market risks; and
• the impact of general economic or industry conditions.

There can be no assurance that the offering will be completed on the anticipated terms, or at all.  For more information about potential factors that could affect Alliant Energy's businesses and financial results, please review "Risk Factors" in the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2018, and Quarterly Report on Form 10-Q for the quarter ended September 30, 2019, filed with the SEC and in Alliant Energy's other filings with the SEC.  These factors should be considered when evaluating the forward-looking statements, and undue reliance should not be placed on such 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 publicly update such statements to reflect subsequent events or circumstances.

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 965,000 electric and 415,000 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.

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SOURCE Alliant Energy Corporation

MADISON, Wis., Nov. 6, 2019 /PRNewswire/ -- 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:

"As we advance our commitment to cleaner energy and affordable customer options, we are investing in renewable energy and distribution system enhancements," said John Larsen, Alliant Energy Chairman, President and CEO.  "We raised our 2019 earnings guidance to a range of $2.27 to $2.33 per share, largely due to the benefits of weather during the first nine months of this year.  I am also pleased to share that our Board of Directors has approved a 7% increase to our annual common stock dividend target, raising it to $1.52 per share for 2020."

Utilities and Corporate Services - Alliant Energy's Utilities and Alliant Energy Corporate Services, Inc. (Corporate Services) operations generated $0.92 per share of GAAP EPS in the third quarter of 2019, which was $0.04 per share higher than the third quarter of 2018.  The primary drivers of higher EPS were higher earnings due to Interstate Power and Light Company's (IPL's) and Wisconsin Power and Light Company's (WPL's) increasing rate base and timing of income tax expense.  These items were partially offset by higher depreciation expense and tax adjustments.

Non-utility and Parent - Alliant Energy's Non-utility and Parent operations generated ($0.01) per share of GAAP EPS in the third quarter of 2019, which was a $0.03 per share earnings increase compared to the third quarter of 2018.  The primary driver of higher EPS was tax adjustments and timing of income tax expense.

Earnings Adjustments - Non-GAAP EPS for the three and nine months ended September 30, 2018 excludes earnings of $0.02 per share related to tax return adjustments due to Federal Tax Reform.  Non-GAAP adjustments, which relate to material charges or income that are not normally associated with ongoing operations, are provided as a supplement to results reported in accordance with GAAP.

Temperature Impacts to Non-GAAP EPS - The estimated year-to-date impact of temperatures on EPS compared to normal temperatures, is a $0.05 per share gain in 2019.  The midpoint of the temperature normalized non-GAAP EPS guidance for the full year 2019 is $2.25.

Details regarding GAAP EPS variances between the third quarters of 2019 and 2018 for Alliant Energy are as follows:

Higher revenue requirements primarily due to increasing rate base - In March 2019, IPL filed a request with the Iowa Utilities Board (IUB) to increase annual rates for its Iowa retail electric customers by $204 million, based on a 2020 forward-looking test period.  IPL concurrently filed for interim retail electric rates based on 2018 historical data adjusted for certain known and measurable changes occurring in the first quarter of 2019.  An interim retail electric rate increase of $90 million, on an annual basis, was implemented effective April 2019.  Implementing interim rates does not require regulatory approval; however, interim rates are subject to refund pending the IUB's final rate review decision. In October 2019, IPL filed a partial settlement agreement with the IUB to increase annual rates for its Iowa retail electric customers by $127 million.  As part of this agreement, IPL would refund $8 million of 2019 interim rates in 2020. The settlement agreement is pending the IUB's final rate review decision.  IPL recognized $0.09 per share of higher electric margins in the third quarter of 2019 due to the retail electric rate increase, including a reduction of $8 million as a result of the interim refund agreed to as part of the settlement.

In December 2018, 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 2019/2020 Test Period, effective January 1, 2019.  Under the settlement, WPL's retail electric and gas base rates will not change from current levels through the end of 2020.  The $61 million retail electric revenue requirement increase for 2019, resulting from increasing investments in rate base, was offset by lower fuel-related costs and federal tax reform refunds.  WPL recognized $0.05 per share of higher electric margins from increasing investments in rate base in the third quarter of 2019.

Timing of income tax expense - Tax expenses are recorded based on an estimated annual effective tax rate, which causes fluctuations in the amount of tax expense quarter-over-quarter.  The positive year-over-year variance in third quarter offsets the negative year-over-year variance in the second quarter of 2019.

2019 Earnings Guidance

Alliant Energy is updating its EPS guidance for 2019 as follows.  The midpoint of the 2019 EPS guidance was increased by $0.06 per share primarily due to higher earnings from temperature impacts on retail electric and gas sales during the first nine months of 2019.

Drivers for Alliant Energy's 2019 earnings guidance include, but are not limited to:

• Appropriate regulatory outcomes to allow IPL the ability to earn its authorized rate of return
• Ability of WPL to earn its authorized rate of return
• Stable economy and resulting implications on utility sales
• Normal temperatures in its utility service territories
• Execution of cost controls
• Execution of capital expenditure and financing plans
• Consolidated effective tax rate of 10%

The 2019 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, regulations or regulatory policies, adjustments made to deferred tax assets and liabilities from valuation allowances, 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.

2020 Earnings Guidance

Alliant Energy is issuing EPS guidance for 2020 of $2.34 - $2.48.

Drivers for Alliant Energy's 2020 earnings guidance include, but are not limited to:

• Appropriate regulatory outcomes to allow IPL the ability to earn its authorized rate of return
• Ability of WPL to earn its authorized rates of return
• Stable economy and resulting implications on utility sales
• Normal temperatures in its utility service territories
• Execution of cost controls
• Execution of capital expenditure and financing plans
• Consolidated effective tax rate of (11%)

The 2020 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, regulations or regulatory policies, adjustments made to deferred tax assets and liabilities from valuation allowances, 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.

"The customers and the communities we serve will continue to benefit from reliable, affordable, cleaner energy as a result of our strong pipeline of investments in renewable energy and electric and gas distribution.  Our 2020 earnings guidance of $2.34 to $2.48 per share is consistent with our long-term growth objective of 5% to 7% annually," said Larsen.

2020 Annual Common Stock Dividend Target

Alliant Energy's Board of Directors approved a 7% increase, or $0.10 per share, to its 2020 expected annual common stock dividend target of $1.52 per share from the current annual common stock dividend target of $1.42 per share.  Payment of the 2020 quarterly dividend is subject to the actual dividend declaration by the Board of Directors each quarter, which is expected in January 2020 for the first quarter dividend.

Projected Capital Expenditures

Alliant Energy has updated its projected capital expenditures for 2019 through 2023, which total $6.7 billion, as follows (in millions). The projected capital expenditures exclude AFUDC and capitalized interest, if applicable.  Cost estimates represent Alliant Energy's estimated portion of total construction expenditures.

Earnings Conference Call

A conference call to review the third quarter 2019 results, updated 2019 earnings guidance, 2020 earnings guidance, 2020 common stock dividend target, and projected capital expenditures for 2019 - 2023 is scheduled for Thursday, November 7th at 9:00 a.m. central time.  Alliant Energy Chairman, President and Chief Executive Officer John Larsen, and Senior 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 November 14, 2019, 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 965,000 electric and 415,000 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:

• IPL's and WPL's ability to obtain adequate and timely rate relief to allow for, among other things, the recovery of and/or the return on costs, including fuel costs, operating costs, transmission costs, environmental compliance and remediation costs, deferred expenditures, deferred tax assets, tax expense, capital expenditures, and remaining costs related to electric generating units (EGUs) that may be permanently closed and certain other retired assets, earning their authorized rates of return, and the payments to their parent of expected levels of dividends;
• federal and state regulatory or governmental actions, including the impact of legislation, and regulatory agency orders;
• the impact of customer- and third party-owned generation, including alternative electric suppliers, in IPL's and WPL's service territories on system reliability, operating expenses and customers' demand for electricity;
• the impact of energy efficiency, franchise retention and customer disconnects on sales volumes and margins;
• the impact that price changes may have on IPL's and WPL's customers' demand for electric, gas and steam services and their ability to pay their bills;
• the ability to utilize tax credits and net operating losses generated to date, and those that may be generated in the future, before they expire;
• the direct or indirect effects resulting from terrorist incidents, including physical attacks and cyber attacks, or responses to such incidents;
• the impact of penalties or third-party claims related to, or in connection with, a failure to maintain the security of personally identifiable information, including associated costs to notify affected persons and to mitigate their information security concerns;
• employee workforce factors, including changes in key executives, ability to hire and retain employees with specialized skills, ability to create desired corporate culture, collective bargaining agreements and negotiations, work stoppages or restructurings;
• weather effects on results of utility operations;
• issues associated with environmental remediation and environmental compliance, including compliance with all environmental and emissions permits, the Coal Combustion Residuals Rule, future changes in environmental laws and regulations, including the Environmental Protection Agency's regulations for carbon dioxide emissions reductions from new and existing fossil-fueled EGUs, and litigation associated with environmental requirements;
• the ability to defend against environmental claims brought by state and federal agencies, such as the EPA, state natural resources agencies or third parties, such as the Sierra Club, and the impact on operating expenses of defending and resolving such claims;
• continued access to the capital markets on competitive terms and rates, and the actions of credit rating agencies;
• inflation and interest rates;
• the impact of the economy in IPL's and WPL's service territories and the resulting impacts on sales volumes, margins and the ability to collect unpaid bills;
• the ability to complete construction of wind projects within the cost caps set by regulators and to meet all requirements to qualify for the full level of production tax credits;
• changes in the price of delivered natural gas, purchased electricity and coal due to shifts in supply and demand caused by market conditions and regulations;
• disruptions in the supply and delivery of natural gas, purchased electricity and coal;
• changes in the price of transmission services and the ability to recover the cost of transmission services in a timely manner;
• the direct or indirect effects resulting from breakdown or failure of equipment in the operation of electric and gas distribution systems, such as mechanical problems and explosions or fires, and compliance with electric and gas transmission and distribution safety regulations, including regulations promulgated by the Pipeline and Hazardous Materials Safety Administration;
• issues related to the availability and operations of EGUs, including start-up risks, breakdown or failure of equipment, performance below expected or contracted levels of output or efficiency, operator error, employee safety, transmission constraints, compliance with mandatory reliability standards and risks related to recovery of resulting incremental costs through rates;
• impacts that storms or natural disasters may have on Alliant Energy's, IPL's and WPL's operations and recovery of costs associated with restoration activities, or on the operations of Alliant Energy's investments;
• any material post-closing adjustments related to any past asset divestitures, including the sales of IPL's Minnesota electric and natural gas assets, and Whiting Petroleum Corporation, which could result from, among other things, indemnification agreements, warranties, parental guarantees or litigation;
• Alliant Energy's ability to sustain its dividend payout ratio goal;
• changes to costs of providing benefits and related funding requirements of pension and other postretirement benefits plans due to the market value of the assets that fund the plans, economic conditions, financial market performance, interest rates, life expectancies and demographics;
• material changes in employee-related benefit and compensation costs;
• risks associated with operation and ownership of non-utility holdings;
• changes in technology that alter the channels through which customers buy or utilize Alliant Energy's, IPL's or WPL's products and services;
• impacts on equity income from unconsolidated investments due to further potential changes to ATC LLC's authorized return on equity;
• impacts of IPL's future tax benefits from Iowa rate-making practices, including deductions for repairs expenditures, allocation of mixed service costs and state depreciation, and recoverability of the associated regulatory assets from customers, when the differences reverse in future periods;
• the impacts of adjustments made to deferred tax assets and liabilities from changes in the tax laws;
• changes to the creditworthiness of counterparties with which Alliant Energy, IPL and WPL have contractual arrangements, including participants in the energy markets and fuel suppliers and transporters;
• current or future litigation, regulatory investigations, proceedings or inquiries;
• reputational damage from negative publicity, protests, fines, penalties and other negative consequences resulting in regulatory and/or legal actions;
• the effect of accounting standards issued periodically by standard-setting bodies;
• the ability to successfully complete tax audits and changes in tax accounting methods with no material impact on earnings and cash flows; and
• factors listed in the "2019 Earnings Guidance" and "2020 Earnings Guidance" sections of this press release.

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 2019 and 2020 earnings guidance, 2020 annual common stock dividend target and 2019-2023 capital expenditures 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.  These measures include income and EPS for the three and nine months ended September 30, 2018 excluding the tax return adjustments due to Federal Tax Reform.  Alliant Energy believes this non-GAAP financial measure is useful to investors because it provides an alternate measure to better understand and compare across periods the operating performance of Alliant Energy without the distortion of items that management believes are not normally associated with ongoing operations, and also provides 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.  Alliant Energy's management also uses income, as adjusted, to determine performance-based compensation.

In addition, 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 and nine months ended September 30, 2019 and 2018.  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 third quarter 2019 Form 10-Q.

This press release also includes temperature-normalized non-GAAP EPS guidance for the year ended December 31, 2019.  Alliant Energy believes this non-GAAP guidance measure is useful to investors because the measure facilitates period-to-period comparison of Alliant Energy's operating performance and provides investors with information on a basis consistent with measures that management uses to assess Alliant Energy's earnings growth rate.

Reconciliations of the non-GAAP financial measures included in this press release to the most directly comparable GAAP financial measures are included in the earnings summaries that follow, and in the case of temperature normalized non-GAAP EPS guidance, in the press release above.

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 September 30:

Adjusted, or non-GAAP, earnings for the three months ended September 30 do not include the following items that were included in the reported GAAP earnings:

The following tables provide a summary of Alliant Energy's results for the nine months ended September 30:

Adjusted, or non-GAAP, earnings for the nine months ended September 30 do not include the following items that were included in the reported GAAP earnings:

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SOURCE Alliant Energy Corporation

MADISON, Wis., Oct. 14, 2019 /PRNewswire/ -- The Alliant Energy Corporation (NASDAQ: LNT) Board of Directors today declared a quarterly cash dividend of $0.355 per share payable on November 15, 2019, to shareowners of record as of the close of business on October 31, 2019.

Dividends on common stock have been paid for 296 consecutive quarters since 1946. 

Alliant Energy Corporation (NASDAQ: LNT), headquartered in Madison, Wis., provides regulated electric and natural gas service to 965,000 electric and 415,000 natural gas customers across Iowa and Wisconsin. Alliant Energy's mission is to deliver the energy solutions and exceptional service customers and communities count on – safely, efficiently and responsibly. Interstate Power and Light Company and Wisconsin Power and Light Company are Alliant Energy's two public utility subsidiaries. Alliant Energy Corporation is a component of the S&P 500. For more information, visit alliantenergy.com.

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SOURCE Alliant Energy Corporation

MADISON, Wis., March 25, 2019 /PRNewswire/ -- Interstate Power and Light Company ("IPL"), a wholly owned subsidiary of Alliant Energy Corporation (NASDAQ: LNT), announced the pricing of its public offering of $300 million aggregate principal amount of 3.60% senior debentures.  An amount equal to or in excess of the net proceeds from the offering will be or have been used for the construction and development of wind electric generating facilities.  The senior debentures have an interest rate of 3.60% and will be due on April 1, 2029.  The closing of the offering is expected to occur on April 1, 2019, subject to customary closing conditions.

The offering was marketed through a group of underwriters consisting of Barclays, J.P. Morgan, and Mizuho Securities as joint book-running managers, and KeyBanc Capital Markets, Ramirez & Co., Inc., and US Bancorp as co-managers.

The offering is being made only by means of a prospectus supplement and accompanying prospectus which are part of a shelf registration statement IPL filed with the Securities and Exchange Commission (the "Commission").  Copies may be obtained from Barclays by calling +1 (888) 603-5847, from J.P. Morgan by calling +1 (212) 834-4533, or from Mizuho Securities by calling +1 (866) 271-7403.  Electronic copies of these documents will be available from the Commission's website at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Alliant Energy

Alliant Energy Corporation's Iowa utility subsidiary, Interstate Power and Light Company (IPL), utilizes the trade name of Alliant Energy (NASDAQ:LNT). The Iowa utility is based in Cedar Rapids, Iowa.

Forward-Looking Statements

This press release includes forward-looking statements.  These statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks related to the proposed offering, the anticipated use of proceeds from the sale of the senior debentures and other risks outlined in IPL's public filings with the Commission, including IPL's most recent annual report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.  All information provided in this news release speaks as of the date hereof. Except as otherwise required by law, IPL undertakes no obligation to update or revise its forward-looking statements.

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SOURCE Alliant Energy Corporation

MADISON, Wis., Feb. 13, 2019 /PRNewswire/ -- Alliant Energy Chairman and Chief Executive Officer Patricia L. Kampling announced her intent to retire from the company effective July 1, 2019. Kampling has been with Alliant Energy since 2005 and has served as Chairman and CEO since 2012. 

The Board of Directors appointed Alliant Energy President and Chief Operating Officer John O. Larsen to succeed Kampling. Larsen was also appointed as a member of the Board of Directors effective February 13, 2019. Larsen will become Chief Executive Officer, President and Chairman of the Board of Alliant Energy, effective July 1, 2019. 

"Pat Kampling has done an outstanding job of transforming the company and setting a new vision to move us into the future," said Dean Oestreich, lead independent director of Alliant Energy's board. "John Larsen's leadership in developing and executing our strategy will continue to position the company for long-term success."  

Larsen joined the company in 1988 as an electrical engineer after receiving his degree at the University of North Dakota. Over his career at Alliant Energy, he held leadership roles in engineering, energy delivery and generation operations of the company. In 2004, he was promoted to Vice President. In 2010, John was named Senior Vice President – Generation. At that time, he also became President of Wisconsin Power and Light Company.

In 2015, John stepped into a new expansive role: leading our efforts related to technology, development, generation construction, economic development, customer service and account management.

In recognition of his leadership, in 2017 John was named President of Alliant Energy. As President, John had critical responsibilities – including leading the Technology and Strategic Planning functions – to help Alliant Energy respond more rapidly to opportunities and deliver greater value to customers. In 2018, he was named President and Chief Operating Officer of Alliant Energy and Chief Executive Officer of Alliant Energy's two utility companies.

"Pat has been both visionary and pragmatic in her leadership of our company. It has been an honor and privilege to work alongside and learn from her over the past seven years in her role as CEO," said Larsen. "As we look ahead, our focus remains on our customers and developing new products, services and markets to help them power beyond the challenges of today while powering what's next in energy solutions."

Alliant Energy Corporation (NASDAQ: LNT), headquartered in Madison, Wis., provides regulated energy service to 965,000 electric and 415,000 natural gas customers across Iowa and Wisconsin. Alliant Energy's mission is to deliver the energy solutions and exceptional service customers and communities count on – safely, efficiently and responsibly. Interstate Power and Light Company and Wisconsin Power and Light Company are Alliant Energy's two public energy companies. Alliant Energy is a component of the Nasdaq CRD Sustainability Index, Bloomberg's 2019 Gender-Equality Index, and the S&P 500. For more information, visit alliantenergy.com.

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SOURCE Alliant Energy Corporation

MADISON, Wis., Jan. 16, 2019 /PRNewswire/ -- Alliant Energy is one of 230 companies worldwide selected for the 2019 Bloomberg Gender-Equality Index (GEI), which distinguishes companies committed to transparency in gender reporting and advancing women's equality. The GEI includes firms from 10 sectors headquartered across 36 countries.

"Alliant Energy places great value on diversity and is pleased to be included in the Bloomberg Gender-Equality Index," said Alliant Energy Chairman and CEO Patricia Kampling. "We are only successful if we create a workplace where all people feel like they belong."

Bloomberg's standardized reporting framework offers public companies the opportunity to disclose information on how they promote gender equality across four separate areas – company statistics, policies, community engagement, and products and services. Reporting companies that score above a globally established threshold, based on the extent of disclosures and the achievement of best-in-class statistics and policies, are included in the GEI.

The Bloomberg gender reporting framework is voluntary and has no associated costs. The GEI is a reference index. All public companies can submit data to Bloomberg. Those with a security listed on a U.S. exchange and a market capitalization of $1 billion or greater are eligible for index inclusion.

For more information on the GEI, visit: 
bloomberg.com/professional/solution/gender-equality-index/.

About Alliant Energy
Alliant Energy Corporation (NASDAQ: LNT), headquartered in Madison, Wis., provides regulated energy service to 960,000 electric and 410,000 natural gas customers across Iowa and Wisconsin. Alliant Energy's mission is to deliver the energy solutions and exceptional service customers and communities count on – safely, efficiently and responsibly. Interstate Power and Light Company and Wisconsin Power and Light Company are Alliant Energy's two public energy companies. Alliant Energy is a component of the Nasdaq CRD Sustainability Index, Bloomberg's 2019 Gender-Equality Index, and the S&P 500. For more information, visit alliantenergy.com.

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SOURCE Alliant Energy Corporation

MADISON, Wis., Dec. 18, 2018 /PRNewswire/ -- Alliant Energy Corporation (LNT) will be moving its stock exchange listing to Nasdaq from the New York Stock Exchange (NYSE) effective December 28, after the market closes. The switch will mean the company's shares will be listed on the same exchange as some of the world's largest technology companies.

"Alliant Energy is thrilled to join the many innovative, creative and consumer-focused companies on Nasdaq," said Patricia Kampling, Alliant Energy chairman and CEO. "Our partnership with Nasdaq will enable us to leverage their technology platform, target new investors and continue to provide excellent service to our shareowners."   

Alliant Energy will be transferring its stock exchange listing of its common stock from the NYSE to the Nasdaq Global Select Market, with the delisting from NYSE effective December 28, 2018, as of the close of business. Alliant Energy shares are expected to begin trading as a Nasdaq-listed security on December 31, 2018, at the opening of trading. The common stock will continue to trade under the symbol "LNT."

In addition, Alliant Energy's Iowa energy company, Interstate Power and Light Company (IPL), is transferring the listing of its 5.100% Series D Cumulative Perpetual Preferred Stock to the Nasdaq Global Select Market from the NYSE, with the delisting from NYSE effective December 28, 2018, as of the close of business. IPL Preferred Stock is expected to begin trading as a Nasdaq-listed security on December 31, 2018, at the opening of trading under the ticker symbol "IPLDP."

Both listing changes are expected to be seamless for investors and shareowners.

Alliant Energy (LNT) delivers the energy solutions and exceptional service customers and communities count on – safely, efficiently and responsibly. Serving 960,000 electric and 410,000 natural gas customers across Iowa and Wisconsin, the company is powering beyond to create a better tomorrow with its goal to cut carbon emissions 80% and eliminate all existing coal from its energy mix by 2050. Alliant Energy is proud to have women make up 50% of its Board of Directors, and is a component of the S&P 500 and the Nasdaq CRD Global Sustainability Index. For more information, visit alliantenergy.com.

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SOURCE Alliant Energy Corporation

MADISON, Wis., Dec. 13, 2018 /PRNewswire/ -- Alliant Energy Corporation (NYSE: LNT) announced today that it has priced its public offering of 7,268,673 shares of its common stock at a public offering price of $44.85 per share. At Alliant Energy's request, the forward counterparties (as defined below) are borrowing and selling the shares to the underwriters in the offering in connection with the forward sale agreements described below. In conjunction with the offering, Alliant Energy has granted to the underwriters an option to purchase up to 1,090,300 additional shares of Alliant Energy's common stock. If such option is exercised, Alliant Energy may, in its sole discretion, enter into additional forward sale agreements with the forward counterparties with respect to such additional shares, and Alliant Energy currently expects that, if such option is exercised, it will do so.

Goldman Sachs & Co. LLC and BofA Merrill Lynch are acting as underwriters for the offering and propose to offer the shares of common stock from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.

In connection with the offering, Alliant Energy has entered into forward sale agreements with each of Goldman Sachs & Co. LLC and Bank of America N.A., referred to in such capacity as the forward counterparties, pursuant to which Alliant Energy has agreed to sell to the forward counterparties or their respective affiliates (subject to its right to elect net share or cash settlement of such forward sale agreement) 7,268,673 shares of Alliant Energy's common stock (or 8,358,973 shares if the underwriters' option to purchase additional shares is exercised in full), at a price per share equal to the public offering price of Alliant Energy's shares of common stock in this offering, less the underwriting discounts and commissions and subject to certain adjustments.

Alliant Energy intends to use any net proceeds received upon the settlement of the forward sale agreements for general corporate purposes, which may include repayment or refinancing of debt, working capital, construction and acquisition expenditures, investments and repurchases and redemptions of securities.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make an offer, solicitation or sale in such jurisdiction. The public offering is being made pursuant to an effective shelf registration statement that has been filed with the Securities and Exchange Commission, or SEC. A final prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov. In addition, copies of the prospectus and prospectus supplement relating to the shares of common stock offered in the offering may be obtained by contacting: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 1-866-471-2526, or by e-mail at prospectus-ny@ny.email.gs.com; or BofA Merrill Lynch, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001, by telephone at 1-800-294-1322, or by e-mail at dg.prospectus_requests@baml.com.  

Forward-Looking Statements

Statements contained in this press release that are not of historical fact are forward-looking statements intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995.  These forward-looking statements can be identified as such because the statements include words such as "may," anticipate," "will," "would," "expects," "intends" or other words of similar import.  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.  Some, but not all, of the risks and uncertainties that could materially affect actual results include, among others:

• the satisfaction of customary closing conditions relating to the offering and the forward sale agreements;
• capital market risks; and
• the impact of general economic or industry conditions.

There can be no assurance that the offering will be completed on the anticipated terms, or at all.  For more information about potential factors that could affect Alliant Energy's businesses and financial results, please review "Risk Factors" in the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2017, and Quarterly Report on Form 10-Q for the quarter ended September 30, 2018, filed with the SEC and in Alliant Energy's other filings with the SEC.  These factors should be considered when evaluating the forward-looking statements, and undue reliance should not be placed on such 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 publicly update such statements to reflect subsequent events or circumstances.

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 960,000 electric and 410,000 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 New York Stock Exchange under the symbol LNT.

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SOURCE Alliant Energy Corporation

MADISON, Wis., Dec. 13, 2018 /PRNewswire/ -- Alliant Energy Corporation (NYSE: LNT) announced today that it plans to make a public offering of $326 million of shares of its common stock. At Alliant Energy's request, the forward counterparties (as defined below) expect to borrow and sell the shares to the underwriters in the offering in connection with the forward sale agreements described below. In conjunction with the offering, Alliant Energy intends to grant to the underwriters an option to purchase up to $48.9 million of additional shares of Alliant Energy's common stock.  If such option is exercised, Alliant Energy may, in its sole discretion, enter into additional forward sale agreements with the forward counterparties with respect to such additional shares, and Alliant Energy currently expects that, if such option is exercised, it will do so.

Goldman Sachs & Co. LLC and BofA Merrill Lynch are acting as underwriters for the offering and propose to offer the shares of common stock from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.

In connection with the offering, Alliant Energy intends to enter into forward sale agreements with each of Goldman Sachs & Co. LLC and Bank of America N.A., referred to in such capacity as the forward counterparties, pursuant to which Alliant Energy will agree to sell to the forward counterparties or their respective affiliates (subject to its right to elect net share or cash settlement of such forward sale agreement) approximately $326 million of shares of common stock in this offering (or $374.9 million of shares if the underwriters' option to purchase additional shares is exercised in full), less the underwriting discounts and commissions and subject to certain adjustments.

Alliant Energy intends to use any net proceeds received upon the settlement of the forward sale agreements for general corporate purposes, which may include repayment or refinancing of debt, working capital, construction and acquisition expenditures, investments and repurchases and redemptions of securities.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make an offer, solicitation or sale in such jurisdiction. The public offering is being made pursuant to an effective shelf registration statement that has been filed with the Securities and Exchange Commission, or SEC. A preliminary prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov. In addition, copies of the prospectus and preliminary prospectus supplement relating to the shares of common stock offered in the offering may be obtained when available by contacting: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 1-866-471-2526, or by e-mail at prospectus-ny@ny.email.gs.com; or BofA Merrill Lynch, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001, by telephone at 1-800-294-1322, or by e-mail at dg.prospectus­_requests@baml.com.  

Forward-Looking Statements

Statements contained in this press release that are not of historical fact are forward-looking statements intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995.  These forward-looking statements can be identified as such because the statements include words such as "may," anticipate," "will," "would," "expects," "intends" or other words of similar import.  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.  Some, but not all, of the risks and uncertainties that could materially affect actual results include, among others:

• the satisfaction of customary closing conditions relating to the offering and the forward sale agreements;
• capital market risks; and
• the impact of general economic or industry conditions.

There can be no assurance that the offering will be completed on the anticipated terms, or at all.  For more information about potential factors that could affect Alliant Energy's businesses and financial results, please review "Risk Factors" in the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2017, and Quarterly Report on Form 10-Q for the quarter ended September 30, 2018, filed with the SEC and in Alliant Energy's other filings with the SEC.  These factors should be considered when evaluating the forward-looking statements, and undue reliance should not be placed on such 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 publicly update such statements to reflect subsequent events or circumstances.

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 960,000 electric and 410,000 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 New York Stock Exchange under the symbol LNT.

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SOURCE Alliant Energy Corporation

MADISON, Wis., Dec. 13, 2018 /PRNewswire/ -- As part of the company's succession planning efforts, the Alliant Energy Corporation (NYSE:LNT) Board of Directors made the following leadership appointments, effective January 1, 2019:

• John O. Larsen as president and chief operating officer of Alliant Energy and chief executive officer of Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL)
• Terry L. Kouba as president – IPL and senior vice president – Alliant Energy
• David A. de Leon as president – WPL and senior vice president – Alliant Energy

These changes follow the announcement by Douglas R. Kopp, president of IPL and senior vice president of Alliant Energy, of his intent to retire. Kopp has been with Alliant Energy for more than 26 years. His retirement date will be set in the first half of 2019.

"Doug has been central to the customer-focused transformations at Alliant Energy, from plant modernization to environmental strategy to our renewable buildout," said Patricia Kampling, chairman and CEO of Alliant Energy. "We thank Doug for his many years of effective, authentic leadership, and we wish him the best in his retirement."

Mr. Larsen will oversee all Alliant Energy utility operations as president and chief operating officer. Larsen continues to take positions of increasing responsibility at the company and was appointed president of Alliant Energy in 2018. Prior to that, he served as senior vice president of Alliant Energy from February 2014 to December 2017 and as senior vice president of generation from January 2010 to February 2014. He has served as president of Wisconsin Power and Light Company (WPL) since 2010. 

Mr. Kouba will replace Mr. Kopp as IPL's president. Kouba has served as vice president of generation operations for the company since 2014, and director of generation operations since 2011. He has served in various engineering, operations and customer service positions at Alliant Energy and its predecessors since 1983.

Mr. de Leon will replace Larsen as WPL's president. De Leon has served as vice president of operations for the company since 2017, director of generation construction since 2016 and director of construction since 2011. He has served in various engineering and operations positions at Alliant Energy and its predecessors since 1987.

"These leadership changes recognize John's success in setting our vision and executing our strategy. Continued strong leadership is central to our success at Alliant Energy," said Kampling. "Terry and David are well-respected and have a proven record of leading utility operations. They are ideally equipped to work with John to lead our utilities into the future."

Alliant Energy Corporation (NYSE: LNT), headquartered in Madison, Wis., provides regulated energy service to 960,000 electric and 410,000 natural gas customers across Iowa and Wisconsin. Alliant Energy's mission is to deliver the energy solutions and exceptional service customers and communities count on – safely, efficiently and responsibly. Interstate Power and Light Company and Wisconsin Power and Light Company are Alliant Energy's two public energy companies. Alliant Energy Corporation is a component of the S&P 500. For more information, visit alliantenergy.com.

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SOURCE Alliant Energy Corporation

CEDAR RAPIDS, Iowa, Nov. 15, 2018 /PRNewswire/ -- The Board of Directors of Alliant Energy's Iowa utility, Interstate Power and Light Company (IPL), has declared dividends for its preferred stock shareowners of record on November 30, 2018. The dividends, which are payable on December 17, 2018, are as follows:

$0.31875 per share on the 5.1% Series D Cumulative Preferred Stock

Alliant Energy Corporation (NYSE: LNT), headquartered in Madison, Wis., provides regulated electric and natural gas service to 960,000 electric and 410,000 natural gas customers across Iowa and Wisconsin. Alliant Energy's mission is to deliver the energy solutions and exceptional service customers and communities count on – safely, efficiently and responsibly. Interstate Power and Light Company and Wisconsin Power and Light Company are Alliant Energy's two public utility subsidiaries. Alliant Energy Corporation is a component of the S&P 500. For more information, visit alliantenergy.com.

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SOURCE Alliant Energy Corporation

MADISON, Wis., Nov. 6, 2018 /PRNewswire/ -- Alliant Energy Corporation (NYSE: LNT) today announced U.S. generally accepted accounting principles (GAAP) and non-GAAP consolidated unaudited earnings per share (EPS) from continuing operations for the three months ended September 30 as follows:

"We continued to deliver solid financial and operational results in the third quarter.  We raised our 2018 earnings guidance to a range of $2.13 to $2.19 per share, largely due to the benefits of weather during the first nine months of this year," said Patricia Kampling, Alliant Energy Chairman and CEO.  "I am also pleased to share that our Board of Directors has approved a 6% increase to our annual common stock dividend target, raising it to $1.42 per share for 2019."

Utilities and Corporate Services - Alliant Energy's Utilities and Alliant Energy Corporate Services, Inc. (Corporate Services) operations generated $0.88 per share of GAAP EPS from continuing operations in the third quarter of 2018, which was $0.13 per share higher than the third quarter of 2017.  The primary drivers of higher EPS were higher retail electric sales due to warmer temperatures in the third quarter of 2018 compared to the same period last year, higher margins due to Interstate Power and Light Company's (IPL's) and Wisconsin Power and Light Company's (WPL's) increasing rate base, and higher allowance for funds used during construction.  These items were partially offset by higher depreciation expense.

Non-utility and Parent - Alliant Energy's Non-utility and Parent operations generated ($0.04) per share of GAAP EPS from continuing operations in the third quarter of 2018, which was a $0.01 per share earnings increase compared to the third quarter of 2017.  The primary driver of higher EPS was the timing of income tax expense.

Earnings Adjustments - Non-GAAP EPS for the three and nine months ended September 30, 2018 excludes earnings of $0.02 per share related to tax return adjustments due to Federal Tax Reform.  Non-GAAP EPS for the three and nine months ended September 30, 2017 excludes charges of $0.02 per share related to the write-down of regulatory assets due to the IPL electric rate review settlement.  Non-GAAP adjustments, which relate to material charges or income that are not normally associated with ongoing operations, are provided as a supplement to results reported in accordance with GAAP.

Temperature Impacts to Non-GAAP EPS from Continuing Operations - The estimated year-to-date impact of temperatures on EPS compared to normal temperatures, is a $0.05 per share gain in 2018.  The midpoint of the temperature normalized non-GAAP EPS from continuing operations guidance for the full year 2018 is $2.11.

Details regarding GAAP EPS from continuing operations variances between the third quarters of 2018 and 2017 for Alliant Energy are as follows:

Higher margins primarily from earning on increasing rate base - In April 2017, IPL filed a request with the Iowa Utilities Board (IUB) to increase annual rates for its Iowa retail electric customers.  The request was based on a 2016 historical Test Year as adjusted for certain known and measurable changes occurring up to 12 months after the commencement of the proceeding.  An interim retail electric rate increase of $102 million, on an annual basis, was implemented effective April 13, 2017.  In February 2018, the IUB issued an order approving IPL's settlement reached in September 2017, for an annual electric base rate increase of $130 million, or approximately 9%.  Final rates were effective May 1, 2018.  IPL recognized $0.03 per share of higher electric margins in the third quarter of 2018 due to the final retail electric rate increases.

In December 2016, WPL received an order from the Public Service Commission of Wisconsin authorizing WPL to implement a retail electric rate increase effective January 1, 2017 followed by a freeze of such rates through the end of 2018.  To reflect the higher margins in 2018, primarily from earning on increasing rate base, the order lowered the amortization of amounts that WPL previously over-recovered from its customers for electric transmission cost recovery beginning in January 2018.  WPL recognized $0.02 per share of higher electric margins in the third quarter of 2018 due to lower transmission cost recovery amortization.

Estimated temperature impact on retail electric and gas sales - The impact of warmer than normal temperatures in the third quarter of 2018 is estimated to be a $0.02 per share gain in margins.  By comparison, the impact of temperatures in the third quarter of 2017 was estimated to be a $0.02 per share loss.

WPL's retail electric and gas rate settlement covering 2018 includes an earnings sharing mechanism whereby WPL must defer a portion of its earnings and return this amount to its retail electric and gas customers if its annual regulatory return on common equity exceeds 10.25% during 2018.  As a result, a majority of the higher margins recognized at WPL as a result of the temperature impact on retail electric and gas sales for the nine months ended September 30, 2018 is currently expected to be given back to customers in the future.

A portion of Alliant Energy's performance pay is based on earnings.  As a result, a portion of the higher earnings resulting from the temperature impact on retail electric and gas sales is offset by higher performance pay expense.  Year-to-date, Alliant Energy's estimated temperature impact on retail electric and gas sales, net of the WPL earnings sharing mechanism and the portion of performance pay associated with temperature impacts on earnings, is estimated to be a $0.05 per share increase in earnings.

Tax return adjustments due to Federal Tax Reform - In December 2017, Federal Tax Reform was enacted.  The enactment of Federal Tax Reform had a material impact on the 2017 financial statements since changes in tax laws must be recognized in the period in which the law was enacted.  The most significant provision of Federal Tax Reform was the reduction in the federal corporate tax rate from 35% to 21%, which required a re-measurement of deferred tax assets and liabilities in December 2017.  During the third quarter of 2018, additional rules were issued including clarifications of the treatment of bonus depreciation deductions, which impacted the 2017 Federal income tax return.  As a result of these clarifying rules, the impact of Federal Tax Reform was updated resulting in $0.02 per share of higher earnings in the third quarter of 2018.

Write-down of regulatory assets in 2017 due to the IPL electric rate review settlement - In September 2017, IPL's electric rate review settlement resulted in one-time charges associated with certain regulatory assets that were not fully included in the settlement's revenue requirement.

2018 Earnings Guidance

Alliant Energy is updating its EPS guidance for 2018 as follows.  The midpoint of the 2018 EPS guidance was increased by $0.05 per share to reflect higher earnings from temperature impacts on retail electric and gas sales during the first nine months of 2018.

Drivers for Alliant Energy's 2018 earnings guidance include, but are not limited to:

• Ability of IPL and WPL to earn their authorized rates of return
• Stable economy and resulting implications on utility sales
• Normal temperatures for the remainder of the year in its utility service territories
• Execution of cost controls
• Execution of IPL's and WPL's capital expenditure plans
• Consolidated effective tax rate of 10%

The 2018 earnings guidance does not include the impacts of any material non-cash valuation adjustments, regulatory-related charges or credits, reorganizations or restructurings, further impacts from anticipated changes to ATC LLC's authorized return on equity, current and future changes in laws and regulations, including tax reform (such as the tax return adjustment of $0.02 per share due to clarifying rules for Federal Tax Reform in the third quarter of 2018), regulations or regulatory policies, adjustments made to deferred tax assets and liabilities from valuation allowances, 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.

2019 Earnings Guidance

Alliant Energy is issuing the following EPS guidance for 2019:

Drivers for Alliant Energy's 2019 earnings guidance include, but are not limited to:

• Ability of IPL and WPL to earn their authorized rates of return
• Anticipated interim retail electric base rate increase to be implemented by IPL
• Stable economy and resulting implications on utility sales
• Normal temperatures in its utility service territories
• Execution of cost controls
• Execution of capital expenditure and financing plans
• Consolidated effective tax rate of 9%

The 2019 earnings guidance does not include the impacts of any material non-cash valuation adjustments, regulatory-related charges or credits, reorganizations or restructurings, further impacts from anticipated changes to ATC LLC's authorized return on equity, future changes in laws, regulations or regulatory policies, adjustments made to deferred tax assets and liabilities from valuation allowances, 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.

"We expect to continue to deliver solid earnings per share growth as a result of our strong pipeline of investments in renewable energy and electric and gas distribution.  Our 2019 earnings guidance of $2.17 to $2.31 per share, is consistent with our long term growth objective of 5 to 7% annually," said Kampling.  "The customers and the communities we serve will continue to benefit from reliable, low cost, cleaner energy."

2019 Annual Common Stock Dividend Target

Alliant Energy's Board of Directors approved a 6% increase, or $0.08 per share, to its 2019 expected annual common stock dividend target of $1.42 per share from the current annual common stock dividend target of $1.34 per share.  Payment of the 2019 quarterly dividend is subject to the actual dividend declaration by the Board of Directors each quarter, which is expected in January 2019 for the first quarter dividend.

Projected Capital Expenditures

Alliant Energy has updated its projected capital expenditures for 2018 through 2022, which total $7.0 billion, as follows (in millions).  In addition, Alliant Energy currently projects aggregate capital expenditures of $5.7 billion for 2023 through 2027.  The projected capital expenditures exclude AFUDC and capitalized interest, if applicable.  Cost estimates represent Alliant Energy's estimated portion of total construction expenditures.