I'm Thanks, John. per XXXX. report $X.XX pleased GAAP in everyone. were XXXX $X.XX to share that to share earnings Good morning compared per
year-over-year by depreciation partially financing and supplemental by X% were provided impacts, We on slides. variance drivers Excluding expenses. higher earnings X and the up our X revenue additional slides increasing base, to of earnings due driven non-GAAP higher adjustments offset details on requirements and rate temperature
related to adjustment largely in return as an the second of of period. decision earnings the owners to a equity per transmission non-GAAP previously were result XXXX November The non-recurring earnings FERC complaints. equity of share a adjustments for on recorded The regarding ATC MISO due is $X.XX reversal reserves complaint
declined sales temperature-normalized electric X% lower XXXX XXXX, customers. to primarily by sales Our our retail when compared in to industrial driven
Since largest customers margins, production Iowa manufacturing additional resulting sales lowest A conditions sales these our generate on temporary operational customers XXXX issues impacted and material demand. did few lower a have declines a XXXX from experienced our certain of last in year resulting economic in in not our tariffs impact industrial industrial results.
to year's guidance. Turning earnings this
$X.XX range. of are to current on share. of our forecast, per We share XXXX half our affirming we are trending Based upper earnings the $X.XX per to guidance the
also to earnings of X% guidance annual are our long-term growth We X%. reaffirming
have of We growth earnings rebased share. long-term XXXX our EPS temperature-normalized non-GAAP guidance per of $X.XX
through facility walk business Our supported in to long-term modest including allowed growth plans, EPS earning Riverside WPL's XXXX is and expenditure share generating core our related electric IPL's investments rates utility sales are the in growth The XXXX earnings is expansion approved per from were of X. our XXXX XXXX and and midpoint review and earnings capital Slide wind is of our rate in These to on program. the rates growth by temperature-normalized key order return. retail our WPL's electric X% guidance IPL's XXXX West month. drivers of our for investments received non-GAAP reflected guidance A last provided
electric sales, in range retail guidance growth a year. leap of which X% assumes XXXX The impact the includes
and customers, growth are forecasting We as industrial in most commercial normal the of operations resume they from sales XXXX.
include continued XXXX and base benefits by includes on coming we and using Riverside focus Energy Center, flat through fuel to highly the in West utility efficient These affordable investments. the strategy customers. energy will Wisconsin, to cost federal Our tax service In holding are lower rates costs providing of which be months. electric offset in gas the our reform investments
residential also XXXX. flat Iowa Iowa will remain for who electric customers In average forecasting are relatively bills in we
billing by $XX benefits implemented we Iowa million from of XXXX. related will provide As will the refunds final early interim XXXX in electric rates reform impact tax federal be base rate of credits, to and offset customers, to
flow and fuel of Also expansion to generation more of production in significant wind expected cash customers result further XXXX. back a cost as to are reductions credits
and look to we As be ending this our added PPAs Iowa Duane in new we'll future, the year, Arnold the PPA later wind electric money low-cost XXXX. we begin have also saving customers will which
rates tax rate federal in return Slide tax modeling wind effective service rates for of our are the additional of of consolidated a assist you X deferred credits XXXX. to taxes excess from the being The tax the customers. We drivers effective projects negative consolidated in our tax from the estimate and XX% two utilities placed primary lower group. reform for our provided has been new to tax in
excess to is earnings will in lower in tax deferred benefits effective electric neutral. the rate The decrease Thus, flow production tax tax credits largely back customers and margins. resulting
Our XXXX. of of agreements last XXXX common in equity November shared the November, $XXX including unchanged the to we financing on new issuing summarized priced million X was plan plan $XXX through forward remains executed from Slide million up this equity. equity
XX expect to utilities. over We expenditures forward those months for equity fund to the next settle agreements capital our
remaining issued XXXX program. through our We ratably Shareowner be during million expect the to Direct $XX
Slide our key included Lastly, XX. we have on regulatory initiatives
of on electric of the allowed energy of serving decisions constructive states of after rate they're rate received In review that a In in of We have wind return new customers state IUB the the records XXXX a regulation. privilege which rider, filings service. December return approved and forward-looking the in placed regarding decision, we the and track megawatts have first proven test renewable year us January, earn new to the in Iowa.
the communities plan few natural renewable stay in next is in In of is last year Western the controls, to cost With development to request request at authority Wisconsin, our the we support capacity certificate rider to in another XX% by the Iowa energy expand we we reviews rate filed economic approval gas serve. and at This years. using for of are least continued the tool Wisconsin. a
of decision by on the second quarter a XXXX. expect that We filing
of and expect wind In be in rate second quarter, WPL later our and retail increased gas will grid to review expects review investments drivers we XXXX years service electric into the Key farm a rate this distribution year. the and file Kossuth XXXX. the place the test also for to
portion the tax excess We investments. revenue requirement these liabilities utilizing for offset utility regulatory and will to be benefits deferred a of
a half certificate Wisconsin, filing solar in a XXXX new of for portion fall. generation the in megawatts anticipate last the first we Lastly announced of we authority XXXX of of
acquiring in our sites solar favorable to and clean to good safe continue additional securing harbor equipment progress advancing Wisconsin. energy service make customers We cost-effective these projects with for in our territory in XXXX including provide
our of to meeting coming in and support weeks continued your the appreciate company look upcoming much of very you We at with conferences. many forward
always, As used Relations on we will conferences our website. at the Investor materials make our available
call the this over time, operator back the session. At question-and-answer to to turn facilitate the I'll
