Alliant Vitality Publicizes Second Quarter 2022 Outcomes

• Second quarter GAAP earnings per share was $0.63 in 2022 in comparison with $0.57 in 2021
• With sturdy year-to-date outcomes, at the moment monitoring towards the higher half of 2022 earnings steering vary of $2.67 to $2.81 per share

MADISON, Wis., Aug. 04, 2022 (GLOBE NEWSWIRE) — Alliant Vitality Company (NASDAQ: LNT) at the moment introduced U.S. typically accepted accounting ideas (GAAP) consolidated unaudited earnings per share (EPS) for the three months ended June 30 as follows:

“For the second yr in a row, we’re monitoring towards the higher half of our 2022 earnings steering fueled by our sturdy first-half outcomes,” stated John Larsen, Alliant Vitality Chair, President and CEO. “And we’re excited to be placing the primary venture of our 1,100 megawatts of introduced Wisconsin photo voltaic into service within the coming weeks, an vital milestone as we advance our Clear Vitality Blueprint.”

Utilities and Company Companies – Alliant Vitality’s Utilities and Alliant Vitality Company Companies, Inc. (Company Companies) operations generated $0.61 per share of GAAP EPS within the second quarter of 2022, which was $0.10 per share increased than the second quarter of 2021. The first drivers of upper EPS had been increased allowance for funds used throughout development (AFUDC), timing of revenue tax expense and better temperature-normalized gross sales. This stuff had been partially offset by increased curiosity expense.

Non-utility and Mother or father – Alliant Vitality’s Non-utility and Mother or father operations generated ($0.01) per share of GAAP EPS within the second quarter of 2022, which was a $0.04 per share earnings lower in comparison with the second quarter of 2021. The decrease EPS was primarily pushed by the timing of revenue taxes.

Particulars concerning GAAP EPS variances between the second quarters of 2022 and 2021 for Alliant Vitality are as follows:

Greater allowance for funds used throughout development (AFUDC) – AFUDC was increased within the second quarter of 2022 in comparison with the identical interval in 2021 primarily on account of elevated development work in progress balances associated to WPL’s photo voltaic era.

Timing of revenue tax expense – Earnings tax expense is recorded every quarter primarily based on an estimated annual efficient tax price and the proportion of full yr earnings generated every quarter, which causes fluctuations within the quantity of tax expense quarter-over-quarter. The timing variance is predicted to be reversed by the top of the yr.

Greater curiosity expense – Complete long-term debt elevated on account of extra financings since June 30, 2021 largely to fund capital expenditures together with the photo voltaic enlargement program in Wisconsin. Along with increased long-term debt balances, will increase to the rates of interest charged to short-term debt contributed to increased curiosity expense within the second quarter of 2022 versus the identical interval in 2021.

2022 Earnings Steerage

Alliant Vitality’s consolidated steering of $2.67 to $2.81 earnings per share for 2022 stays unchanged. Drivers for Alliant Vitality’s 2022 earnings steering embody, however aren’t restricted to:

• Potential of IPL and WPL to earn their licensed charges of return
• Secure financial system and ensuing implications on utility gross sales
• Regular temperatures in its utility service territories
• Execution of value controls
• Execution of capital expenditure and financing plans
• Consolidated efficient tax price of three%

The 2022 earnings steering doesn’t embody the impacts of any materials non-cash valuation changes, regulatory-related fees or credit, reorganizations or restructurings, future adjustments in legal guidelines together with company tax reform in Iowa, laws or regulatory insurance policies, changes made to deferred tax property and liabilities from valuation allowances, adjustments in credit score loss liabilities associated to ensures, pending lawsuits and disputes, settlement fees associated to pension and different postretirement profit plans, federal and state revenue tax audits and different Inside Income Service proceedings, or adjustments in GAAP and tax strategies of accounting which will influence the reported outcomes of Alliant Vitality.

Earnings Convention Name

A convention name to evaluation the second quarter 2022 outcomes is scheduled for Friday, August 5, 2022 at 9 a.m. central time. Alliant Vitality Chair, President and Chief Govt Officer John Larsen, and Govt Vice President and Chief Monetary Officer Robert Durian will host the decision. The convention name is open to the general public and will be accessed in two methods. events could hearken to the decision by dialing 800-458-4121 (United States or Canada) or 323-701-0225 (Worldwide), passcode 4175543. events can also hearken to a webcast at www.alliantenergy.com/buyers.  Along with the data on this earnings announcement and the convention name, Alliant Vitality posted supplemental supplies on its web site. A replay of the decision will likely be obtainable by August 12, 2022, at 888-203-1112 (United States or Canada) or 719-457-0820 (Worldwide), passcode 4175543. An archive of the webcast will likely be obtainable on the Firm’s Website online at www.alliantenergy.com/buyers for 12 months.

About Alliant Vitality Company

Alliant Vitality is the mum or dad firm of two public utility firms – Interstate Energy and Mild Firm and Wisconsin Energy and Mild Firm – and of Alliant Vitality Finance, LLC, the mum or dad firm of Alliant Vitality’s non-utility operations. Alliant Vitality, whose core function is to serve prospects and construct sturdy communities, is an energy-services supplier with utility subsidiaries serving roughly 985,000 electrical and 425,000 pure gasoline prospects. Offering its prospects within the Midwest with regulated electrical energy and pure gasoline service is the Firm’s main focus. Alliant Vitality, headquartered in Madison, Wisconsin, is a element of the S&P 500 and is traded on the Nasdaq International Choose Market beneath the image LNT. For extra data, go to the Firm’s Website online at www.alliantenergy.com.

Ahead-Wanting Statements

This press launch consists of forward-looking statements. These forward-looking statements will be recognized by phrases corresponding to “forecast,” “count on,” “steering,” or different phrases of comparable import. Equally, statements that describe future monetary efficiency or plans or methods are forward-looking statements. Such ahead wanting statements are topic to sure dangers and uncertainties that would trigger precise outcomes to vary materially from these expressed in, or implied by, such statements. Precise outcomes may very well be materially affected by the next elements, amongst others:

• the influence of penalties or third-party claims associated to, or in reference to, a failure to keep up the safety of personally identifiable data, together with related prices to inform affected individuals and to mitigate their data safety issues;
• the direct or oblique results ensuing from terrorist incidents, together with bodily assaults and cyber assaults, or responses to such incidents;
• the influence of customer- and third party-owned era, together with various electrical suppliers, in IPL’s and WPL’s service territories on system reliability, working bills and prospects’ demand for electrical energy;
• the influence of vitality effectivity, franchise retention and buyer disconnects on gross sales volumes and margins;
• the influence that value adjustments could have on IPL’s and WPL’s prospects’ demand for electrical, gasoline and steam providers and their skill to pay their payments;
• IPL’s and WPL’s skill to acquire sufficient and well timed price reduction to permit for, amongst different issues, the restoration of and/or the return on prices, together with gasoline prices, working prices, transmission prices, deferred expenditures, deferred tax property, tax expense, capital expenditures, and remaining prices associated to electrical producing models (EGUs) that could be completely closed and sure different retired property, decreases in gross sales volumes, incomes their licensed charges of return, and the funds to their mum or dad of anticipated ranges of dividends;
• federal and state regulatory or governmental actions, together with the influence of laws, and regulatory company orders;
• the power to make the most of tax credit and internet working losses generated to this point, and people that could be generated sooner or later, earlier than they expire;
• the impacts of adjustments within the tax code, together with tax charges, minimal tax charges, and changes made to deferred tax property and liabilities;
• the power to finish development of renewable era and storage tasks by deliberate in-service dates and inside the price targets set by regulators on account of value will increase of and entry to supplies, gear and commodities together with on account of tariffs, duties or different assessments, corresponding to any extra tariffs ensuing from U.S. Division of Commerce investigations into the sourcing of photo voltaic venture supplies and gear from sure international locations, labor points or provide shortages, the power to efficiently resolve guarantee points or contract disputes, the power to attain the anticipated degree of tax advantages primarily based on tax tips and venture prices, and the power to effectively make the most of the renewable era and storage venture tax advantages for the advantage of prospects;
• worker workforce elements, together with adjustments in key executives, skill to rent and retain staff with specialised abilities, skill to create desired company tradition, collective bargaining agreements and negotiations, work stoppages or restructurings;
• inflation and better rates of interest;
• adjustments within the value of delivered pure gasoline, transmission, bought electrical energy and coal, notably throughout elevated market costs, and any ensuing adjustments to counterparty credit score threat, on account of shifts in provide and demand attributable to market situations, laws and the Midcontinent Impartial System Operator, Inc.’s (MISO) annual useful resource adequacy course of;
• adjustments to the creditworthiness of, or efficiency of obligations by, counterparties with which Alliant Vitality, IPL and WPL have contractual preparations, together with members within the vitality markets and gasoline suppliers and transporters;
• any materials post-closing funds associated to any previous asset divestitures, together with the sale of Whiting Petroleum, which may end result from, amongst different issues, indemnification agreements, warranties, ensures or litigation;
• climate results on outcomes of utility operations;
• the direct or oblique results ensuing from the continued COVID-19 pandemic and the unfold of variant strains, together with any vaccine mandates and testing necessities, on gross sales volumes, margins, operations, staff, labor markets, contractors, distributors, the power to finish development tasks, provide chains, prospects’ lack of ability to pay payments, suspension of disconnects, the market worth of the property that fund pension plans and the potential for extra funding necessities, the power of counterparties to fulfill their obligations, compliance with regulatory necessities, the power to implement regulatory plans, financial situations and entry to capital markets;
• points related to environmental remediation and environmental compliance, together with compliance with all environmental and emissions permits, the Coal Combustion Residuals Rule, future adjustments in environmental legal guidelines and laws, together with federal, state or native laws for carbon dioxide emissions reductions from new and current fossil-fueled EGUs, and litigation related to environmental necessities;
• elevated stress from prospects, buyers and different stakeholders to extra quickly cut back carbon dioxide emissions;
• the power to defend in opposition to environmental claims introduced by state and federal businesses, such because the U.S. Environmental Safety Company, state pure assets businesses or third events, such because the Sierra Membership, and the influence on working bills of defending and resolving such claims;
• continued entry to the capital markets on aggressive phrases and charges, and the actions of credit standing businesses;
• disruptions to ongoing operations and the provision of supplies, providers, gear and commodities wanted to assemble photo voltaic era, battery storage and electrical and gasoline distribution tasks, which can end result from geopolitical points, provider manufacturing constraints, labor points or transportation points, in addition to have an effect on the power to fulfill capability necessities and end in elevated capability expense;
• attainable adjustments to MISO’s methodology establishing capability planning reserve margin and capability accreditation necessities which will influence how and when new producing amenities corresponding to IPL’s and WPL’s extra photo voltaic era could also be accredited with vitality capability and should require IPL and WPL to regulate their present useful resource plans, the necessity to add assets to adjust to MISO’s proposal, or procure capability out there whereby such prices may not be recovered in charges;
• disruptions within the provide and supply of pure gasoline, bought electrical energy and coal;
• the direct or oblique results ensuing from breakdown or failure of kit within the operation of electrical and gasoline distribution programs, corresponding to mechanical issues and explosions or fires, and compliance with electrical and gasoline transmission and distribution security laws, together with laws promulgated by the Pipeline and Hazardous Supplies Security Administration;
• points associated to the provision and operations of EGUs, together with start-up dangers, breakdown or failure of kit, availability of guarantee protection for gear breakdowns or failures, efficiency beneath anticipated or contracted ranges of output or effectivity, operator error, worker security, transmission constraints, compliance with obligatory reliability requirements and dangers associated to restoration of ensuing incremental working, fuel-related and capital prices by charges;
• impacts that extreme warmth, extreme chilly, storms or pure disasters could have on Alliant Vitality’s, IPL’s and WPL’s operations and restoration of prices related to restoration actions or on the operations of Alliant Vitality’s investments;
• Alliant Vitality’s skill to maintain its dividend payout ratio objective;
• adjustments to prices of offering advantages and associated funding necessities of pension and different postretirement advantages plans because of the market worth of the property that fund the plans, financial situations, monetary market efficiency, rates of interest, timing and type of advantages funds, life expectations and demographics;
• materials adjustments in employee-related profit and compensation prices, together with settlement losses associated to pension plans;
• dangers related to operation and possession of non-utility holdings;
• adjustments in expertise that alter the channels by which prospects purchase or make the most of Alliant Vitality’s, IPL’s or WPL’s services and products;
• impacts on fairness revenue from unconsolidated investments from valuations and potential adjustments to ATC LLC’s licensed return on fairness;
• impacts of IPL’s future tax advantages from Iowa rate-making practices, together with deductions for repairs expenditures, allocation of combined service prices and state depreciation, and recoverability of the related regulatory property from prospects, when the variations reverse in future durations;
• present or future litigation, regulatory investigations, proceedings or inquiries;
• reputational harm from destructive publicity, protests, fines, penalties and different destructive penalties leading to regulatory and/or authorized actions;
• the impact of accounting requirements issued periodically by standard-setting our bodies;
• the power to efficiently full tax audits and adjustments in tax accounting strategies with no materials influence on earnings and money flows; and
• different elements listed within the “2022 Earnings Steerage” part of this press launch.

For extra details about potential elements that would have an effect on Alliant Vitality’s enterprise and monetary outcomes, discuss with Alliant Vitality’s most up-to-date Annual Report on Kind 10-Okay and Quarterly Report on Kind 10-Q filed with the Securities and Alternate Fee (“SEC”), together with the sections therein titled “Threat Components,” and its different filings with the SEC.

With out limitation, the expectations with respect to 2022 earnings steering on this press launch are forward-looking statements and are primarily based partly on sure assumptions made by Alliant Vitality, a few of that are referred to within the forward-looking statements. Alliant Vitality can not present any assurance that the assumptions referred to within the forward-looking statements or in any other case are correct or will show to be appropriate. Any assumptions which can be inaccurate or don’t show to be appropriate may have a cloth hostile impact on Alliant Vitality’s skill to attain the estimates or different targets included within the forward-looking statements. The forward-looking statements included herein are made as of the date hereof and, besides as required by regulation, Alliant Vitality undertakes no obligation to replace publicly such statements to replicate subsequent occasions or circumstances.

Use of Non-GAAP Monetary Measures

To offer buyers with extra data concerning Alliant Vitality’s monetary outcomes, this press launch consists of reference to sure non-GAAP monetary measures.

Alliant Vitality included on this press launch IPL; WPL; Company Companies; Utilities and Company Companies; ATC Holdings; and Non-utility and Mother or father EPS for the three and 6 months ended June 30, 2022 and 2021. Alliant Vitality believes these non-GAAP monetary measures are helpful to buyers as a result of they facilitate an understanding of phase efficiency and traits, and supply extra details about Alliant Vitality’s operations on a foundation according to the measures that administration makes use of to handle its operations and consider its efficiency.

This press launch references year-over-year variances in utility electrical margins and utility gasoline margins. Utility electrical margins and utility gasoline margins are non-GAAP monetary measures that will likely be reported and reconciled to essentially the most instantly comparable GAAP measure, working revenue, in our second quarter 2022 Kind 10-Q.

Word: Until in any other case famous, all “per share” references on this launch discuss with earnings per diluted share.

ALLIANT ENERGY CORPORATION
EARNINGS SUMMARY (Unaudited)

The next tables present a abstract of Alliant Vitality’s outcomes for the three months ended June 30:

The next tables present a abstract of Alliant Vitality’s outcomes for the six months ended June 30:

KEY FINANCIAL AND OPERATING STATISTICS