Alliant Energy(US:LNT)2025-05-09 16:28Financial Performance - Total revenues for Alliant Energy increased to $1,128 million in Q1 2025, up from $1,031 million in Q1 2024, representing a growth of 9.4%[20] - Net income attributable to Alliant Energy common shareholders rose to $213 million in Q1 2025, compared to $158 million in Q1 2024, marking a 34.8% increase[20] - Earnings per share (EPS) for Alliant Energy increased to $0.83 (basic and diluted) in Q1 2025, up from $0.62 in Q1 2024, reflecting a growth of 33.9%[20] - Operating income for Alliant Energy improved to $257 million in Q1 2025, compared to $222 million in Q1 2024, an increase of 15.8%[20] - Net income for the three months ended March 31, 2025, was $110 million, an increase of 19.6% compared to $92 million in the same period of 2024[42] - Alliant Energy reported a net income of $213 million for the three months ended March 31, 2025, compared to $158 million for the same period in 2024, representing a 35% increase[53] - Utilities and Corporate Services segment net income increased by $66 million, primarily due to higher revenue requirements from capital investments and temperature impacts on retail electric and gas sales[94] Revenue Breakdown - The electric utility segment generated $853 million in revenues for Q1 2025, compared to $791 million in Q1 2024, marking a year-over-year increase of 7.8%[58] - The gas utility segment also saw revenue growth, reaching $240 million in Q1 2025, up from $205 million in Q1 2024, which is an increase of 17.1%[58] - Electric revenues for Alliant Energy increased by $62 million, with IPL contributing $38 million and WPL $24 million, driven by higher revenue requirements and changes in sales volumes due to temperatures[95][99] - Higher revenues from gas utility operations increased by $35 million, with WPL contributing $25 million, primarily due to changes in gas costs and sales volumes influenced by temperatures[100] Cash Flow and Liquidity - Cash flows from operating activities for Alliant Energy were $249 million in Q1 2025, down from $307 million in Q1 2024, a decrease of 19%[24] - Cash flows from operating activities were $190 million for the three months ended March 31, 2025, compared to $241 million in the same period of 2024, a decrease of 21.2%[42] - Cash flows from operating activities for Alliant Energy decreased by $58 million in Q1 2025 compared to Q1 2024, primarily due to lower collections from retail customers[106] - Investing activities cash flows for Alliant Energy decreased by $51 million in Q1 2025 compared to Q1 2024, largely due to higher utility construction expenditures[106] - As of March 31, 2025, Alliant Energy had $25 million in cash and cash equivalents and $522 million available under its revolving credit facility[104] Assets and Liabilities - Total assets for Alliant Energy as of March 31, 2025, were $22,851 million, a slight increase from $22,714 million as of December 31, 2024[22] - Current liabilities for Alliant Energy increased to $2,888 million as of March 31, 2025, compared to $2,715 million as of December 31, 2024, an increase of 6.4%[22] - Total current assets decreased to $533 million as of March 31, 2025, down from $635 million at December 31, 2024, representing a decline of 16.1%[40] - Long-term debt for Alliant Energy decreased to $8,580 million as of March 31, 2025, from $8,677 million as of December 31, 2024, a reduction of 1.1%[22] - Long-term debt remained consistent at $3,371 million as of March 31, 2025, compared to $3,370 million at December 31, 2024[40] - As of March 31, 2025, Alliant Energy's long-term debt, including current maturities, was $9.951 billion[70] Investments and Expenditures - Construction and acquisition expenditures for investing activities were $178 million for the three months ended March 31, 2025, down from $225 million in 2024, a reduction of 20.9%[42] - The company anticipates construction and acquisition expenditures of $2.51 billion in 2025, focusing on renewable generation and energy storage projects[107] - Alliant Energy plans to develop or acquire approximately 1,500 MW of new natural gas resources, 1,200 MW of new wind generation, and 800 MW of new energy storage over the next six years[87] Regulatory and Environmental Considerations - The EPA announced plans to reconsider various environmental regulations, which may impact Alliant Energy's operations[89] - Estimated future costs for environmental liabilities related to Manufactured Gas Plant sites range from $8 million to $30 million for Alliant Energy, $6 million to $19 million for IPL, and $2 million to $11 million for WPL[81] Future Outlook and Strategic Initiatives - The company is evaluating the impact of potential large load growth customers on its resource plans and will update generation investment plans as needed[87] - WPL filed for approval to construct a 2 billion cubic feet liquefied natural gas facility, with a decision expected in Q2 2026[87] - WPL requested annual rate increases of $120 million for electric and $9 million for gas customers in 2026, and an additional $82 million and $5 million in 2027, respectively[88] - The company expects a decision from the IUC regarding energy storage projects in the fourth quarter of 2025 and from the PSCW regarding the wind farm in the second quarter of 2026[91] Shareholder Information - Common stock dividends increased to $75 million in the first quarter of 2025, compared to $49 million in the same period of 2024, an increase of 53.1%[42] - Alliant Energy expects to issue up to $1.3 billion of common stock from 2025 to 2028 through equity offerings and $25 million annually through its Shareowner Direct Plan[102] - Common stock repurchases totaled 9,745 shares at an average price of $58.43 during the quarter ended March 31, 2025[117] Credit and Financing - The company has a total credit facility capacity of $1.3 billion, with $678 million in commercial paper outstanding as of March 31, 2025, at a weighted average interest rate of 4.6%[54] - The company entered into a $300 million variable rate term loan credit agreement in March 2025, with an interest rate of 5%[55] - Alliant Energy's corporate credit rating is BBB+ with a stable outlook, as per Standard & Poor's Ratings Services[110]