Alliant Energy(US:LNT)2020-11-03 21:04Financial Performance - Q3 2020 Non-GAAP earnings per share from continuing operations were $0.94[3] - Q3 2020 GAAP earnings per share from continuing operations were $0.98[3] - From Q3 2019 to Q3 2020, higher revenue requirements due to increasing rate base contributed $0.07 to earnings per share[3,4] - Higher depreciation expense negatively impacted earnings per share by $0.04 from Q3 2019 to Q3 2020[3,4] - Equity dilution decreased earnings per share by $0.04 from Q3 2019 to Q3 2020[3,4] - Other factors, including lower sales due to the Derecho and COVID-19, reduced earnings per share by $0.09 from Q3 2019 to Q3 2020[3,4] Capital Investments and Rate Base - The company anticipates receiving approximately $210 million in tax equity funding in 2022 and $480 million in 2023, which will offset capital expenditures and reduce the rate base[6] - Gross Capital Expenditures are projected to be $1380 million in 2020, $1295 million in 2021, $1625 million in 2022, $1605 million in 2023 and $1370 million in 2024[7] - Net Capital Expenditures are projected to be $1380 million in 2020, $1295 million in 2021, $1415 million in 2022, $1125 million in 2023 and $1370 million in 2024[7] Transition to Cleaner Energy - The company is transitioning to a cleaner energy resource mix, with renewables expected to constitute 53% of the energy resource mix by 2030, compared to 34% in 2020 and 5% in 2005[2] - Coal is expected to decrease from 44% in 2005 to 7% in 2030[2] - Gas is expected to be 40% in 2005, 41% in 2020 and 37% in 2030[2] Tax Rates - The overall forecasted income tax rate for 2021 is (14%) for AEC, (20%) for IPL, and (12%) for WPL[8]