Back to top

Analyst Blog

Zacks Equity Research

Alliant Energy (LNT) Misses on Q3 Earnings, Narrows View

CMS DTE D LNT

Trades from $3

Alliant Energy Corporation (LNT - Free Report) reported third-quarter 2016 operating earnings of 80 cents per share, lagging the Zacks Consensus Estimate of 87 cents by 8.1%. Reported earnings were also a penny lower than the year-ago figure.

GAAP earnings in the reported quarter came in at 57 cents, compared with 79 cents in the year-ago quarter. The difference of 23 cents between GAAP and operating earnings was due to a one-time adjustment in the Non-regulated and Parent segment.

 


Total Revenue

Total revenue in the third quarter amounted to $924.6 million, 2.9% higher than the year-ago tally. Top-line results were up primarily on the back of higher contribution from the Electric utility segment.

Operational Highlights

Total operating expenses were $762.0 million in the reported quarter, up nearly 14.9% from $663.0 million in the year-ago period.

Operating income was $162.6 million, down 31.3% from $235.9 million in the year-ago quarter.

Interest expenses increased 5.2% to $48.8 million from $46.4 million in the year-ago quarter.

ALLIANT ENGY CP Price, Consensus and EPS Surprise

 

ALLIANT ENGY CP Price, Consensus and EPS Surprise | ALLIANT ENGY CP Quote

Financial Highlights

Cash and cash equivalents were $84.7 million as of Sep 30, 2016, down from $5.8 million as of Dec 31, 2015.

Long-term debt (excluding current portion) was $3,816.9 million as of Dec 31, 2015, compared with nearly $3,522.2 million as of Dec 31, 2015.

Cash used in operating activities in first nine months of 2016 was $771.8 million, compared with $613.0 million in the year-ago comparable period.

Guidance

Alliant Energy narrowed its 2016 consolidated earnings per share guidance to the range of $1.84–$1.92 from $1.80–$1.95 per share guided earlier.

At Utilities, American Transmission Company LLC and Corporate Services, earnings are expected in the range of $1.83−$1.89 per share. At Non-regulated and Parent, the company projects earnings in the range of 1–3 cents per share.

Capital expenditure is projected to be nearly $6.6 billion for the 2016–2020 period, comprising $1.21 billion for 2016.

Peer Releases

Dominion Resources Inc. (D - Free Report) reported third-quarter 2016 operating earnings of $1.14 per share, beating the Zacks Consensus Estimate of $1.04 by 9.6%.

DTE Energy Company (DTE - Free Report) reported third-quarter 2016 operating earnings per share of $1.96, beating the Zacks Consensus Estimate of $1.54 by 27.3%.

CMS Energy Corporation (CMS - Free Report) reported third-quarter 2016 adjusted earnings per share of 70 cents, beating the Zacks Consensus Estimate of 60 cents by 16.7%.

Zacks Rank

Alliant Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Confidential from Zacks

Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>


In-Depth Zacks Research for the Tickers Above

Normally $25 each - click below to receive one report FREE:

CMS ENERGY (CMS) - free report >>

DTE ENERGY CO (DTE) - free report >>

DOMINION RES VA (D) - free report >>

ALLIANT ENGY CP (LNT) - free report >>