Alliant Energy(US:LNT)2019-11-07 17:15Financial Performance - Total revenues for the three months ended September 30, 2019, increased to $990.2 million, up 6.7% from $928.6 million in the same period of 2018[20] - Operating income for the nine months ended September 30, 2019, rose to $616.8 million, a 7.6% increase compared to $573.0 million in 2018[20] - Net income attributable to Alliant Energy common shareholders for the three months ended September 30, 2019, was $226.0 million, representing an increase of 9.0% from $205.5 million in 2018[20] - Basic earnings per share for the nine months ended September 30, 2019, increased to $1.88, up from $1.83 in the same period of 2018[20] - Net income for the nine months ended September 30, 2019, was $247.1 million, compared to $232.6 million for the same period in 2018, reflecting a growth of 6.4%[32] - For the nine months ended September 30, 2019, Alliant Energy reported net income of $445.7 million, compared to $426.8 million for the same period in 2018, indicating a growth of 4.1%[60] - Alliant Energy's net income for the three months ended September 30, 2019, was $226.0 million, with an EPS of $0.94, compared to $205.5 million and $0.87 in the same period of 2018, representing an increase of 10.9% in net income and 8.0% in EPS[120] Cash Flow and Liquidity - Cash flows from operating activities for the nine months ended September 30, 2019, were $509.2 million, compared to $442.2 million in 2018, reflecting a 15.1% increase[24] - Cash flows from operating activities increased to $138.5 million for the nine months ended September 30, 2019, compared to $38.9 million in 2018, indicating a significant improvement[32] - As of September 30, 2019, Alliant Energy had $194 million in cash and cash equivalents, with $650 million available under its revolving credit facility[133] Assets and Liabilities - Total assets as of September 30, 2019, were $16,533.4 million, an increase from $15,426.0 million as of December 31, 2018[22] - Current liabilities increased to $2,082.1 million as of September 30, 2019, compared to $1,644.1 million at the end of 2018[22] - Long-term debt, net (excluding current portion) increased to $5,535.1 million as of September 30, 2019, from $5,246.3 million at the end of 2018[22] - Total equity increased to $5,169.2 million as of September 30, 2019, from $4,785.7 million at the end of 2018[23] - Total long-term debt for Alliant Energy, including current maturities, was $6,191.9 million as of September 30, 2019, up from $5,502.8 million at the end of 2018[84] Revenue Breakdown - Total revenues for the nine months ended September 30, 2019, reached $1,113.4 million, up from $1,083.2 million in 2018, marking a growth of 2.8%[34] - For the nine months ended September 30, 2019, Alliant Energy's electric utility revenues increased to $2,350.5 million from $2,296.2 million in 2018, reflecting a growth of 2.4%[122] - Electric revenues for the three months ended September 30, 2019, were $915.9 million, an increase from $861.2 million in 2018, while gas revenues were $41.5 million, down from $44.8 million[125] Dividends and Shareholder Returns - Common stock dividends for the nine months ended September 30, 2019, were $126.0 million, slightly up from $125.9 million in 2018[32] - Common stock dividends for the three months ended September 30, 2019, were $0.355 per share, totaling $84.7 million, up from $0.335 per share and $78.5 million in the same period of 2018[60] - The targeted annual common stock dividend for 2020 is set to increase by 7% to $1.52 per share, equating to a quarterly rate of $0.38 per share[133] Debt and Financing Activities - IPL issued $300 million of 3.60% senior debentures due 2029 and $300 million of 3.50% senior debentures due 2049, with proceeds allocated for wind project development[120] - WPL issued $350 million of 3.00% debentures due 2029 to reduce outstanding commercial paper and retire $250 million of 5% debentures[66] - WPL received authorization to issue up to $350 million in long-term debt securities in 2020[137] Operational Highlights - Utility electric margins for Alliant Energy increased to $569.9 million in Q3 2019, up from $504.3 million in Q3 2018, reflecting a growth of 12.9%[122] - The company reported a utility gas margin of $32.4 million for Q3 2019, slightly down from $33.5 million in Q3 2018, indicating a decrease of 3.3%[122] - Other operation and maintenance expenses increased by $10 million for the three months and $29 million for the nine months ended September 30, 2019, primarily due to new acquisitions[129] Future Outlook - Alliant Energy anticipates an increase in earnings in 2020 due to rising revenue requirements from IPL's retail electric and gas rate reviews[133] - Construction and acquisition expenditures for 2019 through 2023 are anticipated to total $1.520 billion, with significant investments in renewable projects and electric systems[137] - Depreciation and amortization expenses are expected to rise in 2020 due to property additions, including IPL's wind generation expansion and WPL's West Riverside natural gas-fired EGU[133] Regulatory and Compliance - The report complies with the requirements of the Securities Exchange Act of 1934[154] - The financial documents incorporate Inline XBRL for enhanced data presentation and accessibility[101.INS]