Alliant Energy Corporation (NYSE:LNT) Q1 2018 Earnings Conference Call Transcript
May 03, 2018 • 10:00 am ET
Thank you for holding, ladies and gentlemen, and welcome to Alliant Energy's First Quarter 2018 Earnings Conference Call. At this time, all lines are in a listen-only mode. Today's conference is being recorded.
I would now like to turn the call over to your host, Susan Gille, Manager of IR at Alliant Energy.
Good morning. I would like to thank all of you on the call and on the webcast for joining us today. We appreciate your participation. With me here today are Pat Kampling, Chairman and CEO; Robert Durian, SVP, CFO and Treasurer; and John Larsen, President; as well as other members of the senior management team. Following prepared remarks by Pat and Robert, we will have time to take questions from the investment community.
We issued a news release last night announcing Alliant Energy's first quarter financial results and affirmed the consolidated 2018 earnings guidance issued in November 2017. This release as well as supplemental slides that will be referenced during today's call are available on the Investor page of our website at www.alliantenergy.com. Before we begin, I need to remind you the remarks we make on this call and our answers to your questions include forward-looking statements. These forward-looking statements are subject to risks that could cause actual results to be materially different. Those risks include, among others, matters discussed in Alliant Energy's press release issued last night and in our filings with the Securities and Exchange Commission. We disclaim any obligation to update these forward-looking statements.
In addition, this presentation contains references to non-GAAP financial measures. A reconciliation between non-GAAP and GAAP measures are provided in our quarterly report on Form 10-Q, which is available on our website at www.alliantenergy.com.
At this point, I'll turn the call over to Pat.
Thank you, Sue. Good morning, and thank you for joining us. I'm pleased to share with you our first quarter 2018 results and updates on several of our key strategic priorities. After my remarks, Robert will provide details on our first quarter financial results and highlights of our regulatory schedule. We had a solid start to the year, with first quarter results in line with our expectations. Winter temperatures returned to normal, and higher margins in both our Wisconsin and Iowa utilities resulted in quarterly earnings of $0.52 per share, a $0.09 per share increase versus last year.
With these results, we are well-positioned to deliver on our 2018 earnings guidance range of $2.04 to $2.18 per share. I would also like to brief you on several developments on our strategy to deliver cleaner, cost-effective energy to our customers. The Iowa Utilities Board recently approved our additional 500 megawatts of wind generation, which brings our total approved wind generation to 1,000 megawatts. The advanced ratemaking principle for Iowa wind projects are included on Slide 2.
As you can see, it was a very constructive order and our Iowa customers and communities will benefit from this expansion of clean, affordable energy. Construction is already underway at the Upland