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Alliant Energy Corporation (LNT - Free Report) reported fourth-quarter 2021 operating earnings of 35 cents, on par with the Zacks Consensus Estimate. Earnings improved 45.8% from the year-ago figure.
Operating earnings per share for 2021 were $2.63, up 8.2% year over year. Full-year earnings came within the guided range of $2.61-$2.67 per share.
Revenues
Fourth-quarter revenues came in at $927 million, improving 13.5% year over year. The year-over-year improvement was primarily due to strong contributions from its Electric and Gas operations.
Total revenues for 2021 were $3,669 million, up 7.4% year over year.
Alliant Energy Corporation Price, Consensus and EPS Surprise
For the fourth quarter, the company’s retail electric and gas utility customers grew 0.8% and 0.7% year over year, respectively. Electric volumes improved 6.2% year over year due to strong power sales volume to commercial and industrial customers. Gas sold and transported volumes for the reported quarter improved 1.1% year over year due to an improvement in transportation sales volume.
Total operating expenses were $795 million for the reported quarter, increasing 12.8% from $705 million in the year-ago period. This increase was due to higher cost of electric transmission services and increased production fuel and purchased power expenses.
Operating income was $132 million, up 17.9% from $112 million in the year-ago quarter.
Interest expenses were $71 million, up 4.4% from the prior-year quarter.
Financial Update
Cash and cash equivalents were $20 million as of Dec 31, 2021, down from $54 million on Dec 31, 2020.
Long-term debt (excluding current portion) was $6,735 million as of Dec 31, 2021, lower than $6,769 million in the corresponding period of 2020.
For 2021, cash flow from operating activities was $582 million compared with $501 million in the year-ago period.
Guidance
Alliant raised its 2022 earnings guidance to the range of $2.67-$2.81 from $2.65-$2.79 per share. The guidance takes into account the company’s increased 2022 capital expenditure related to solar generation.
Alliant’s 2022 earnings per share expectation indicates an improvement from the 2021 figure of $2.63. The midpoint of the 2022 earnings guidance is $2.74, a tad lower than the Zacks Consensus Estimate of $2.75 for the period.
Alliant plans to invest $6 billion in the 2022-2025 time period to strengthen operations.
Zacks Rank
Currently, Alliant carries a Zacks Rank #3 (Hold).
NextEra Energy (NEE - Free Report) reported fourth-quarter 2021 operating earnings per share of 41 cents, which surpassed the Zacks Consensus Estimate of 40 cents by 2.5%.
NextEra Energy’s long-term (three to five) earnings growth is projected at 8.8%. The Zacks Consensus Estimate for NEE’s 2022 earnings indicates year-over-year growth of 8.6%.
Dominion Energy Inc. (D - Free Report) reported fourth-quarter 2021 operating earnings of 90 cents per share, on par with the Zacks Consensus Estimate.
Dominion’s long-term earnings growth is projected at 6%. The Zacks Consensus Estimate for D’s 2022 earnings indicates a year-over-year decline of 6.7%.
Eversource Energy (ES - Free Report) reported fourth-quarter 2021 operating earnings of 91 cents per share, which lagged the Zacks Consensus Estimate of 93 cents by 2.2%.
Eversource’s long-term earnings growth is projected at 6.2%. The Zacks Consensus Estimate for ES’ 2022 earnings indicates year-over-year growth of 6.5%.
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Alliant (LNT) Meets Q4 Earnings Estimates, Ups 2022 View
Alliant Energy Corporation (LNT - Free Report) reported fourth-quarter 2021 operating earnings of 35 cents, on par with the Zacks Consensus Estimate. Earnings improved 45.8% from the year-ago figure.
Operating earnings per share for 2021 were $2.63, up 8.2% year over year. Full-year earnings came within the guided range of $2.61-$2.67 per share.
Revenues
Fourth-quarter revenues came in at $927 million, improving 13.5% year over year. The year-over-year improvement was primarily due to strong contributions from its Electric and Gas operations.
Total revenues for 2021 were $3,669 million, up 7.4% year over year.
Alliant Energy Corporation Price, Consensus and EPS Surprise
Alliant Energy Corporation price-consensus-eps-surprise-chart | Alliant Energy Corporation Quote
Operational Highlights
For the fourth quarter, the company’s retail electric and gas utility customers grew 0.8% and 0.7% year over year, respectively. Electric volumes improved 6.2% year over year due to strong power sales volume to commercial and industrial customers. Gas sold and transported volumes for the reported quarter improved 1.1% year over year due to an improvement in transportation sales volume.
Total operating expenses were $795 million for the reported quarter, increasing 12.8% from $705 million in the year-ago period. This increase was due to higher cost of electric transmission services and increased production fuel and purchased power expenses.
Operating income was $132 million, up 17.9% from $112 million in the year-ago quarter.
Interest expenses were $71 million, up 4.4% from the prior-year quarter.
Financial Update
Cash and cash equivalents were $20 million as of Dec 31, 2021, down from $54 million on Dec 31, 2020.
Long-term debt (excluding current portion) was $6,735 million as of Dec 31, 2021, lower than $6,769 million in the corresponding period of 2020.
For 2021, cash flow from operating activities was $582 million compared with $501 million in the year-ago period.
Guidance
Alliant raised its 2022 earnings guidance to the range of $2.67-$2.81 from $2.65-$2.79 per share. The guidance takes into account the company’s increased 2022 capital expenditure related to solar generation.
Alliant’s 2022 earnings per share expectation indicates an improvement from the 2021 figure of $2.63. The midpoint of the 2022 earnings guidance is $2.74, a tad lower than the Zacks Consensus Estimate of $2.75 for the period.
Alliant plans to invest $6 billion in the 2022-2025 time period to strengthen operations.
Zacks Rank
Currently, Alliant carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
NextEra Energy (NEE - Free Report) reported fourth-quarter 2021 operating earnings per share of 41 cents, which surpassed the Zacks Consensus Estimate of 40 cents by 2.5%.
NextEra Energy’s long-term (three to five) earnings growth is projected at 8.8%. The Zacks Consensus Estimate for NEE’s 2022 earnings indicates year-over-year growth of 8.6%.
Dominion Energy Inc. (D - Free Report) reported fourth-quarter 2021 operating earnings of 90 cents per share, on par with the Zacks Consensus Estimate.
Dominion’s long-term earnings growth is projected at 6%. The Zacks Consensus Estimate for D’s 2022 earnings indicates a year-over-year decline of 6.7%.
Eversource Energy (ES - Free Report) reported fourth-quarter 2021 operating earnings of 91 cents per share, which lagged the Zacks Consensus Estimate of 93 cents by 2.2%.
Eversource’s long-term earnings growth is projected at 6.2%. The Zacks Consensus Estimate for ES’ 2022 earnings indicates year-over-year growth of 6.5%.