We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Alliant Energy (LNT) Q2 Earnings Top Estimates, Sales Rise Y/Y
Read MoreHide Full Article
Alliant Energy Corporation (LNT - Free Report) reported second-quarter 2022 operating earnings of 63 cents, beating the Zacks Consensus Estimate of 58 cents by 8.6%. Earnings also improved 10.5% from the year-ago figure.
Revenues
Second-quarter revenues were $943 million, improving 15.4% year over year. The year-over-year improvement was primarily due to strong contributions from its Electric and Gas operations.
Alliant Energy Corporation Price, Consensus and EPS Surprise
For the second quarter, the company’s retail electric and gas utility customers grew 0.8% and 0.6% year over year, respectively. Electric volumes improved 1.8% year over year due to the strong power sales volume to residential and commercial customers. Gas volumes sold and transported in the reported quarter improved 1.1% year over year due to an improvement in sales volume to all customer groups, except for transportation.
Total operating expenses were $731 million for the reported quarter, up 14.1% from $641 million in the year-ago period. The rise was due to the higher cost of electric transmission services and increased production of fuel, and purchased power expenses.
Operating income was $212 million, up 20.4% from $176 million in the year-ago quarter.
Interest expenses were $78 million, 13.1% higher than the prior-year quarter.
Financial Update
Cash and cash equivalents were $19 million as of Jun 30, 2022, up from $39 million on Dec 31, 2021.
Long-term debt (excluding the current portion) was $6,981 million as of Jun 30, 2022, higher than $6,735 million as of Dec 31, 2021.
For the first half of 2022, cash flow from operating activities was $300 million compared with $207 million in the year-ago period.
Guidance
Alliant Energy reiterated its 2022 earnings guidance at $2.67-$2.81 per share. The guidance takes into account normal temperature in its service territories, stable economic conditions, the proper execution of cost controls and a few other factors.
Alliant Energy’s 2022 earnings per share expectation indicates an improvement from the 2021 reported 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 per share for the same period.
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2022 adjusted earnings of 81 cents per share, which beat the Zacks Consensus Estimate of 75 cents by 8%.
The Zacks Consensus Estimate for NextEra Energy’s 2022 earnings has gone up 2.1% in the past 60 days. NEE’s long-term (three to five years) earnings growth is pegged at 9.3%.
WEC Energy Group (WEC - Free Report) delivered second-quarter 2022 earnings per share (EPS) of 91 cents, which beat the Zacks Consensus Estimate of 86 cents by 5.8%.
The Zacks Consensus Estimate for WEC Energy’s 2022 earnings has gone up 0.3% in the past 60 days. WEC’s long-term earnings growth is pegged at 6.1%. The WEC stock has gained 9.5% over the past six months.
American Electric Power Company, Inc. (AEP - Free Report) reported second-quarter 2022 operating earnings per share of $1.20, which beat the Zacks Consensus Estimate of $1.18 by 1.7%.
The Zacks Consensus Estimate for American Electric Power’s 2022 earnings has gone up 0.6% in the past 60 days. AEP’s long-term earnings growth is pegged at 6.2%.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Alliant Energy (LNT) Q2 Earnings Top Estimates, Sales Rise Y/Y
Alliant Energy Corporation (LNT - Free Report) reported second-quarter 2022 operating earnings of 63 cents, beating the Zacks Consensus Estimate of 58 cents by 8.6%. Earnings also improved 10.5% from the year-ago figure.
Revenues
Second-quarter revenues were $943 million, improving 15.4% year over year. The year-over-year improvement was primarily due to strong contributions from its Electric and Gas operations.
Alliant Energy Corporation Price, Consensus and EPS Surprise
Alliant Energy Corporation price-consensus-eps-surprise-chart | Alliant Energy Corporation Quote
Operational Highlights
For the second quarter, the company’s retail electric and gas utility customers grew 0.8% and 0.6% year over year, respectively. Electric volumes improved 1.8% year over year due to the strong power sales volume to residential and commercial customers. Gas volumes sold and transported in the reported quarter improved 1.1% year over year due to an improvement in sales volume to all customer groups, except for transportation.
Total operating expenses were $731 million for the reported quarter, up 14.1% from $641 million in the year-ago period. The rise was due to the higher cost of electric transmission services and increased production of fuel, and purchased power expenses.
Operating income was $212 million, up 20.4% from $176 million in the year-ago quarter.
Interest expenses were $78 million, 13.1% higher than the prior-year quarter.
Financial Update
Cash and cash equivalents were $19 million as of Jun 30, 2022, up from $39 million on Dec 31, 2021.
Long-term debt (excluding the current portion) was $6,981 million as of Jun 30, 2022, higher than $6,735 million as of Dec 31, 2021.
For the first half of 2022, cash flow from operating activities was $300 million compared with $207 million in the year-ago period.
Guidance
Alliant Energy reiterated its 2022 earnings guidance at $2.67-$2.81 per share. The guidance takes into account normal temperature in its service territories, stable economic conditions, the proper execution of cost controls and a few other factors.
Alliant Energy’s 2022 earnings per share expectation indicates an improvement from the 2021 reported 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 per share for the same period.
Zacks Rank
Currently, Alliant Energy 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, Inc. (NEE - Free Report) reported second-quarter 2022 adjusted earnings of 81 cents per share, which beat the Zacks Consensus Estimate of 75 cents by 8%.
The Zacks Consensus Estimate for NextEra Energy’s 2022 earnings has gone up 2.1% in the past 60 days. NEE’s long-term (three to five years) earnings growth is pegged at 9.3%.
WEC Energy Group (WEC - Free Report) delivered second-quarter 2022 earnings per share (EPS) of 91 cents, which beat the Zacks Consensus Estimate of 86 cents by 5.8%.
The Zacks Consensus Estimate for WEC Energy’s 2022 earnings has gone up 0.3% in the past 60 days. WEC’s long-term earnings growth is pegged at 6.1%. The WEC stock has gained 9.5% over the past six months.
American Electric Power Company, Inc. (AEP - Free Report) reported second-quarter 2022 operating earnings per share of $1.20, which beat the Zacks Consensus Estimate of $1.18 by 1.7%.
The Zacks Consensus Estimate for American Electric Power’s 2022 earnings has gone up 0.6% in the past 60 days. AEP’s long-term earnings growth is pegged at 6.2%.