Sector: Utilities|Industry: Utilities - Regulated Electric|Market Cap: $14.79B|Employees: 3.3K
Alliant Energy is a regulated investor-owned public utility holding company focused on providing electricity and natural gas services in the Midwest. The company's primary revenue streams come from its two public utility subsidiaries, Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), which serve approximately 1 million electric and 425,000 natural gas customers. Alliant Energy also has a non-utility segment that includes investments in transmission, renewable energy, and supply chain solutions.
Total revenues decreased from $912 million to $894 million for the three months ended June 30, 2024, primarily driven by a decrease in gas utility revenue from $77 million to $69 million. Electric utility revenue remained relatively stable at $789 million compared to $799 million in the prior year.
Net income attributable to Alliant Energy common shareowners decreased from $160 million to $87 million for the three months ended June 30, 2024. This decrease is due to an asset valuation charge for IPL's Lansing Generating Station and other factors.
Total operating expenses increased from $695 million to $764 million for the three months ended June 30, 2024. This resulted in a decrease in operating income from $217 million to $130 million.