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Alliant Energy 8-K Report, Financial Results (Feb 21, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed February 21, 2025
Period End
February 20, 2025
Security
LNT
In the record · 2016–202610-K1110-Q338-K136

LNT filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 136 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Dec ’18Dec ’18
  2. Leadership change8-K · Jan ’21Jan ’21
  3. Leadership change8-K · Jan ’23Jan ’23
  4. Material agreement8-K · Oct ’26Oct ’26

01—Abstract

Summary

Summary of the 8-K filed February 21, 2025. Cited figures are marked; the original filing is the authoritative source.

Alliant Energy Corporation (Nasdaq: LNT) reported fourth-quarter and full-year 2024 results on February 20, 2025, as furnished in Exhibit 99.1 press release.

GAAP earnings per share were $2.69 for 2024 compared to $2.78a in 2023, while ongoing or non-GAAP EPS was $3.04 for 2024 versus $2.82 in 2023. GAAP net income attributable to common shareowners was $690 million in 2024 versus $703 million in 2023. The company affirmed its 2025 ongoing EPS guidance range of $3.15 to $3.25 per share.

The gap between GAAP and non-GAAP results in 2024 reflects $0.35b per share of excluded items, including a $0.17 per share asset valuation charge for IPL's Lansing Generating Station following an Iowa Utilities Commission order, $0.08 per share of restructuring and voluntary separation charges, $0.06 per share of asset retirement obligation charges for IPL steam assets under the revised Coal Combustion Residuals Rule, and $0.04 per share of deferred tax asset adjustments from Iowa tax reform. Utilities and Corporate Services non-GAAP EPS rose to $3.12 from $2.86, while the company cited revenue requirements from capital investments, including $0.68 per share of benefit, as a key driver. Higher depreciation ($0.19 per share) and financing expense ($0.15 per share) partially offset these gains.

Capital spending and debt levels increased during 2024. Utility business construction and acquisition expenditures were $2.05 billionc, up from $1.73 billion, and long-term debt was $8.68 billion at year-end, up from $8.23 billion.

The company stated it completed 1,500 megawatts of solar generation investments in 2024, in addition to existing 1,800 megawatts of wind resources. Its 2025 guidance assumes normal temperatures, a consolidated effective tax rate of (28%d), and successful execution of renewable and energy storage project in-service dates.

02—Key points

Key Highlights

  1. GAAP EPS of $2.69 for 2024, down from $2.78 in 2023; non-GAAP EPS of $3.04, up from $2.82.
  2. 2025 ongoing EPS guidance of $3.15 to $3.25 was affirmed.
  3. Non-GAAP adjustments of $0.35 per share in 2024 included a $0.17 Lansing Generating Station asset valuation charge, $0.08 restructuring and voluntary separation charges, $0.06 IPL steam asset ARO charge, and $0.04 Iowa tax reform deferred tax adjustment.
  4. IPL received an IUC order in September 2024 authorizing annual base rate increases of $185 million for electric and $10 million for gas; WPL received a PSCW order in December 2023 authorizing $49 million electric and $13 million gas increases.
  5. Interest expense rose to $449 million in 2024 from $394 million, reflecting increased long-term debt largely to fund capital expenditures.
  6. Net cash flows from operating activities increased to $1.167 billion from $867 million; utility business capital expenditures were $2.052 billion.
  7. Common stock dividends paid were $492 million in 2024, with a quarterly common dividend rate of $0.48 per share at December 31, 2024.

03—Questions

Frequently Asked Questions

  1. Why did GAAP EPS decline while non-GAAP EPS increased?

    GAAP EPS fell to $2.69 from $2.78, mainly because of $0.35 per share in items excluded from non-GAAP results, including a $0.17 Lansing Generating Station asset valuation charge, $0.08 restructuring and voluntary separation charges, $0.06 steam asset ARO charge, and $0.04 Iowa tax reform adjustment. Non-GAAP EPS rose to $3.04 from $2.82, driven by revenue requirements from capital investments.

  2. What is the 2025 earnings outlook?

    Alliant Energy affirmed its 2025 ongoing EPS guidance of $3.15 to $3.25 per share. The guidance assumes normal temperatures, a stable economy, successful execution of capital expenditure and renewable and energy storage projects, a consolidated effective tax rate of (28%), and does not include material non-cash valuation adjustments, regulatory charges, or restructurings.

  3. What drove the higher financing costs?

    Interest expense, net reduced EPS by $0.15 in 2024, primarily due to increased total long-term debt, largely used to fund capital expenditures including the solar and energy storage expansion program in Iowa and Wisconsin. Interest expense was $449 million in 2024 compared to $394 million in 2023.

  4. How much did weather affect 2024 results?

    Estimated net temperature impacts reduced retail electric and gas sales by $0.15 per share in 2024, compared to a $0.06 per share loss in 2023. The estimated operating income decrease from temperatures was $51 million for 2024 versus $20 million for 2023.

04—Continue

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