Alliant Energy Corp. on Feb. 22 reported fourth-quarter non-GAAP earnings from continuing operations of $75.7 million, or 33 cents per share, missing the S&P Capital IQ consensus normalized EPS estimate of 36 cents.
The result compares to non-GAAP earnings from continuing operations of $63.0 million, or 28 cents per share, in the corresponding period of 2016.
Interstate Power & Light Co. contributed $20.2 million, or 9 cents per share, toward fourth-quarter non-GAAP earnings, compared with $24 million, or 11 cents per share, in the prior-year quarter. Wisconsin Power and Light Co., excluding American Transmission Co. LLC investment, contributed non-GAAP earnings of $38.7 million, or 17 cents per share, versus $26.5 million, or 12 cents per share, a year earlier.
Net income attributable to Alliant Energy common shareowners rose to $93.8 million, or 41 cents per share, during the most recent quarter, from $62.7 million, or 28 cents per share, in the comparable quarter of 2016.
The company generated $856.1 million in operating revenues, an increase from $797 million in the same quarter of 2016, and operating income of $129.7 million, compared with $99.9 million a year earlier.
For the full year, Alliant Energy posted non-GAAP earnings of $444.7 million, or $1.93 per share, in 2017, compared with $422.8 million, or $1.87 per share, in 2016. The S&P Capital IQ consensus normalized EPS estimate for 2017 was $1.94.
Net income attributable to the company's common shareowners was up to $457.3 million, or $1.99 per share, in 2017, compared with $371.5 million, or $1.65 per share, a year ago.
"Our 2017 temperature normalized Non-GAAP earnings per share were $1.99, 6% above calendar year 2016, and consistent with our long-term earnings growth goal," said Patricia Kampling, Alliant Energy chairman and CEO.
The company reported full-year operating revenues of $3.38 billion, compared with $3.32 billion a year ago, and operating income of $653.4 million, compared with $537.0 million in 2016.
Alliant Energy continues to target full-year 2018 earnings in the range of $2.04 per share to $2.18 per share.
"The 6% earnings growth between 2017 temperature normalized non-GAAP EPS and the midpoint of 2018 earnings guidance is consistent with our projected long-term annual earnings growth rate of 5 to 7% driven by investments in our utility business," Kampling said. "The 2018 guidance is based upon approved retail electric base rates for both WPL and IPL, as well as WPL's approved retail gas base rates. Tax Reform is not forecasted to have a material impact on 2018 earnings."