Alliant Energy Corporation has announced U.S. generally accepted accounting principles (GAAP) and non-GAAP consolidated unaudited earnings per share (EPS) for the three months ended September 30.
“We continue to deliver solid financial and operational results while executing our customer-focused strategy,” said Lisa Barton, Alliant Energy President and CEO. “We anticipate we will be able to offset a majority of the 2024 negative temperature impacts on earnings, as reflected in our 2024 revised earnings guidance. The introduction of our 2025 earnings guidance, and reiteration of our long-term earnings growth range of five percent to seven percent reinforces the consistent performance and predictable long-term growth of the company."
MGE Energy's GAAP earnings for the third quarter of 2024 were $40.9 million, or $1.13 per share, compared to $37.9 million, or $1.05 per share, for the same period in the prior year. In the third quarter of 2024, electric net income increased $3.9 million compared to the third quarter of 2023. An increase in electric investments included in rate base and lower fuel costs contributed to increased electric earnings for the third quarter of 2024. Fuel costs during the third quarter of 2024 were lower than the 2024 fuel cost plan approved by the PSCW. Gas net income in the third quarter of 2024 remained relatively flat compared to the third quarter of 2023.
WEC Energy Group has reported net income of $240.1 million, or 76 cents per share, for the third quarter of 2024. This compares to earnings of $316.0 million, or $1.00 per share, for last year's third quarter. Third-quarter 2024 earnings include a charge of 6 cents per share related to certain capital expenditures under the Qualifying Infrastructure Plant rider that were disallowed by the Illinois Commerce Commission. Excluding this charge, WEC Energy Group's adjusted earnings for the third quarter of 2024 were 82 cents per share — a decrease of 18 cents per share compared to third-quarter 2023 earnings. For the first nine months of 2024, WEC Energy Group recorded net income based on GAAP of $1.07 billion, or $3.40 per share. This compares to earnings of $1.11 billion, or 3.52 per share, for the same period in 2023. Excluding the charge described above, WEC Energy Group's adjusted earnings for the first nine months of 2024 totaled $3.45 per share. Consolidated revenues totaled $6.3 billion for the first nine months of 2024, down $359.8 million from revenues for the first nine months of 2023.
"We delivered another solid quarter, and we remain firmly on track for a strong 2024," said Scott Lauber, president and CEO. "Our focus remains on the fundamentals of our business - financial discipline, customer satisfaction and operating efficiency — enhancing value for our customers and stockholders."
Xcel Energy has reported 2024 third quarter earnings of $682 million, or $1.21 per share, compared with $656 million, or $1.19 per share in the same period in 2023 and ongoing earnings of $707 million, or $1.25 compared with $682 million, or $1.23 per share in the same period in 2023. Third quarter ongoing earnings reflect recovery of increased infrastructure investments, partially offset by increased depreciation and interest charges.
“The U.S. energy industry is on the cusp of its biggest transition in a century,” said Bob Frenzel, chairman, president and CEO of Xcel Energy. “The unprecedented energy demand to power new technologies, grow U.S.-based manufacturing and support the electrification of our daily lives requires a fundamental shift in how our industry generates and delivers energy, while ensuring our infrastructure is designed to withstand severe weather events and other risks.”
“Xcel Energy has introduced its new five-year, $45 billion investment plan. The plan builds on Xcel Energy’s proactive efforts to meet this historic moment to make our grid cleaner, more efficient and more resilient while safely and affordably meeting the needs of our customers “
