Alliant Energy Q2 2024 EPS Down to $0.34

By Bobby Samwell • Friday, August 02 08:03 • Permanent Link

Alliant Energy Corporation has announced its second-quarter 2024 results, reporting a GAAP earnings per share (EPS) of $0.34 and a non-GAAP EPS of $0.57 for the quarter. This represents a decrease from the second quarter of 2023 when the company reported a GAAP EPS of $0.64 and a non-GAAP EPS of $0.64.

The utilities and corporate services segment of Alliant Energy generated $0.33 per share of GAAP EPS in the second quarter of 2024, which was $0.32 per share lower than the second quarter of 2023. The decrease was primarily driven by various factors, including an asset impairment charge for Interstate Power and Light Company’s (IPL) Lansing generating station, an asset retirement obligation charge allocated to the steam business at IPL due to revised coal combustion residuals rule, timing of income taxes, higher financing and depreciation expenses, estimated temperature impacts on retail electric and gas sales, and Wisconsin Power and Light Company (WPL) electric fuel-related costs, net of recoveries.

The estimated year-to-date impact of temperatures on EPS compared to normal temperatures is a $0.10 per share loss in 2024.

Alliant Energy is reaffirming its consolidated EPS guidance for 2024 of $2.99 * $3.13, with assumptions including the ability of IPL and WPL to earn their authorized rates of return, normal temperatures in its utility service territories, constructive and timely regulatory outcomes from regulatory proceedings, stable economy and resulting implications on utility sales, execution of capital expenditure and financing plans, and consolidated effective tax rate of (10%).

The company's executive chairman, president, CEO, and executive vice president and CFO will host a conference call to review the second-quarter 2024 results on Friday, August 2, 2024, at 9 a.m. Central Time.

Alliant Energy Corporation, whose core purpose is to serve customers and build stronger communities, is an energy-services provider with utility subsidiaries serving approximately 1,000,000 electric and 425,000 natural gas customers. The company is a component of the S&P 500 and is traded on the NASDAQ Global Select Market under the symbol LNT. As a result of these announcements, the company's shares have moved 1.7% on the market, and are now trading at a price of $56.61. Check out the company's full 8-K submission here.

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