Alliant Energy Corporation (LNT - Free Report) reported second-quarter 2017 operating earnings from continuing operations of 41 cents per share, beating the Zacks Consensus Estimate of 39 cents by 5.1%. Reported earnings also surpassed year over year earnings of 37 cents by 10.8%.
The primary drivers of higher earnings were retail electric base rate increase implemented in Apr 2017.
Total revenue in the second quarter came in at $765.3 million, almost 1.4% higher year over year. The improvement was due to higher year over year contribution from its Electric and Gas utility.
Total operating expenses were $616 million in the reported quarter, reflecting a decrease of nearly 1.6% from $626 million in the year-ago period due to a fall in electric production fuel, purchased power and electric transmission service expenses during the quarter.
Operating income was $149.3 million, up 16.1% from $128.6 million in the year-ago quarter.
Interest expenses were $52.8 million, an increase of 10% from $48 million in the year-ago quarter.
Cash and cash equivalents were $7.3 million as of Jun 30, 2017, rising from $8.2 million as of Dec 31, 2016.
Long-term debt (excluding current portion) was at $4,354.3 million as of Jun 30, 2017, higher than $4,315.6 million as of Dec 31, 2016.
Cash used in operating activities was $502.0 million, compared with $510.0 million used in the year-ago comparable period.
Alliant Energy reaffirmed 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–$2.02 per share. For Non-regulated and Parent, the company expects earnings in the range of 2–4 cents per share.
Alliant Energy Corporation Price, Consensus and EPS Surprise
NiSource Inc. (NI - Free Report) reported second-quarter 2017 operating earnings of 10 cents per share, which was in line with the Zacks Consensus Estimate.
WEC Energy Group (WEC - Free Report) reported second-quarter 2017 adjusted earnings of 63 cents per share, beating the Zacks Consensus Estimate of 59 cents by 6.8%.
FirstEnergy Corporation (FE - Free Report) reported second-quarter 2017 operating earnings of 61 cents per share, in line with the Zacks Consensus Estimate.
Alliant Energy carries 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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