On February 21, 2025, Alliant Energy Corp (LNT, Financial) released its 8-K filing detailing its financial performance for 2024. The company reported a GAAP earnings per share (EPS) of $2.69, a decrease from $2.78 in 2023. However, the non-GAAP EPS for 2024 was $3.04, aligning with the annual analyst estimate of $3.04. Alliant Energy is the parent of two regulated utilities, Interstate Power and Light and Wisconsin Power and Light, serving nearly 1 million electric customers and 425,000 natural gas-only customers. The company also holds a 16% interest in American Transmission Co.
Alliant Energy Corp (LNT, Financial) faced several challenges in 2024, including higher depreciation and financing expenses, estimated temperature impacts on retail electric and gas sales, and lower allowance for funds used during construction (AFUDC). These factors contributed to a decrease in GAAP EPS from the previous year. Despite these challenges, the company managed to achieve a non-GAAP EPS of $3.04, which met the analyst estimate, indicating resilience in its core operations.
In 2024, Alliant Energy completed 1,500 megawatts of solar generation investments, complementing its existing 1,800 megawatts of wind resources. These investments are crucial for the company's strategy to strengthen its clean energy portfolio and maintain leadership in the energy transition. The company also confirmed the largest economic development investment in Cedar Rapids, highlighting its commitment to community-focused strategies.
Alliant Energy's Utilities and Corporate Services operations generated $2.81 per share of GAAP EPS in 2024, slightly lower than $2.86 in 2023. The primary drivers of this decrease were non-GAAP adjustments, higher depreciation and financing expenses, and temperature impacts on sales. However, these were partially offset by higher revenue requirements from capital investments.
The company's financial position was impacted by higher financing expenses due to increased long-term debt, primarily to fund capital expenditures, including solar and energy storage projects. The estimated temperature impacts on sales resulted in a $0.09 per share loss, reflecting the sensitivity of utility operations to weather conditions.
“In 2024, we delivered another solid year of financial and operational results. We’re pleased to complete 1,500 megawatts of solar generation investments in 2024. Combined with existing 1,800 megawatts of wind resources, these zero-fuel cost, zero-emission investments strengthen the clean energy element of our balanced generation portfolio and reinforce our leadership in the energy transition,” said Lisa Barton, Alliant Energy President and CEO.
Looking ahead, Alliant Energy has affirmed its 2025 ongoing earnings guidance range of $3.15 - $3.25 per share, indicating a strong position for future growth. The company's focus on renewable energy investments and economic development initiatives is expected to drive long-term value for shareholders.
| Metric | 2024 | 2023 |
|---|---|---|
| GAAP EPS | $2.69 | $2.78 |
| Non-GAAP EPS | $3.04 | $2.82 |
| Revenue Requirements from Capital Investments | $0.68 | - |
Alliant Energy Corp (LNT, Financial) demonstrated resilience in 2024 by meeting non-GAAP EPS estimates despite facing several operational challenges. The company's strategic investments in renewable energy and economic development initiatives are expected to support its growth trajectory. However, the impact of weather conditions and financing expenses on its financial performance underscores the importance of effective risk management in the utilities sector.
Explore the complete 8-K earnings release (here) from Alliant Energy Corp for further details.
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