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Alliant Energy (LNT) Q1 Earnings Miss, Revenues Grow Y/Y
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Alliant Energy Corporation (LNT - Free Report) reported first-quarter 2017 operating earnings from continuing operations of 43 cents per share, missing the Zacks Consensus Estimate of 45 cents by 4.4%. Earnings remained flat year over year.
A warmer-than-expected winter in Alliant Energy’s service territories led to a 4-cent decline in quarterly earnings.
Total Revenue
Total revenue in the first quarter came in at $853.9 million, almost 1.2% higher year over year.
Alliant Energy Corporation Price, Consensus and EPS Surprise
Total operating expenses were $711 million in the reported quarter, reflecting an increase of nearly 1.9% from $697.9 million in the year-ago period.
Operating income was $142.9 million, down 2% from $145.9 million in the year-ago quarter.
Interest expenses were $52.3 million, an increase of 8. 9% from $48 million in the year-ago quarter.
Financial Update
Cash and cash equivalents were $8.4 million as of Mar 31, 2017, rising marginally from $8.2 million as of Dec 31, 2016.
Long-term debt (excluding current portion) was at $4,316.1 million as of Mar 31, 2017, higher than $4,315.6 million as of Dec 31, 2016.
Cash used in operating activities was $333.7 million, compared with $228.3 million used in the year-ago comparable period.
Guidance
Alliant Energy reiterated its 2017 consolidated earnings per share guidance in the range of $1.92–$2.06.
For Utilities, American Transmission Company LLC and Corporate Services, earnings are expected in the range of $1.90 to $2.02 per share. For Non-regulated and Parent, the company expects earnings in the range of 2–4 cents per share.
Peer Releases
NiSource Inc. (NI - Free Report) reported first-quarter 2017 operating earnings of 71 cents per share, surpassing the Zacks Consensus Estimate of 65 cents by 9.2%.
DTE Energy Company (DTE - Free Report) reported first-quarter 2017 operating EPS of $1.79, which surpassed the Zacks Consensus Estimate of $1.57 by 14%.
CMS Energy Corporation (CMS - Free Report) reported first-quarter 2017 adjusted EPS of 71 cents, surpassing the Zacks Consensus Estimate of 65 cents by 9.2%.
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Alliant Energy (LNT) Q1 Earnings Miss, Revenues Grow Y/Y
Alliant Energy Corporation (LNT - Free Report) reported first-quarter 2017 operating earnings from continuing operations of 43 cents per share, missing the Zacks Consensus Estimate of 45 cents by 4.4%. Earnings remained flat year over year.
A warmer-than-expected winter in Alliant Energy’s service territories led to a 4-cent decline in quarterly earnings.
Total Revenue
Total revenue in the first quarter came in at $853.9 million, almost 1.2% higher year over year.
Alliant Energy Corporation Price, Consensus and EPS Surprise
Alliant Energy Corporation Price, Consensus and EPS Surprise | Alliant Energy Corporation Quote
Operational Highlights
Total operating expenses were $711 million in the reported quarter, reflecting an increase of nearly 1.9% from $697.9 million in the year-ago period.
Operating income was $142.9 million, down 2% from $145.9 million in the year-ago quarter.
Interest expenses were $52.3 million, an increase of 8. 9% from $48 million in the year-ago quarter.
Financial Update
Cash and cash equivalents were $8.4 million as of Mar 31, 2017, rising marginally from $8.2 million as of Dec 31, 2016.
Long-term debt (excluding current portion) was at $4,316.1 million as of Mar 31, 2017, higher than $4,315.6 million as of Dec 31, 2016.
Cash used in operating activities was $333.7 million, compared with $228.3 million used in the year-ago comparable period.
Guidance
Alliant Energy reiterated its 2017 consolidated earnings per share guidance in the range of $1.92–$2.06.
For Utilities, American Transmission Company LLC and Corporate Services, earnings are expected in the range of $1.90 to $2.02 per share. For
Non-regulated and Parent, the company expects earnings in the range of 2–4 cents per share.
Peer Releases
NiSource Inc. (NI - Free Report) reported first-quarter 2017 operating earnings of 71 cents per share, surpassing the Zacks Consensus Estimate of 65 cents by 9.2%.
DTE Energy Company (DTE - Free Report) reported first-quarter 2017 operating EPS of $1.79, which surpassed the Zacks Consensus Estimate of $1.57 by 14%.
CMS Energy Corporation (CMS - Free Report) reported first-quarter 2017 adjusted EPS of 71 cents, surpassing the Zacks Consensus Estimate of 65 cents by 9.2%.
Zacks Rank
Alliant Energy has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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