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Alliant Energy (LNT) Q2 Earnings & Revenues Beat Estimates
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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
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.
Operational Highlights
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.
Financial Update
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.
Guidance
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.
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Alliant Energy (LNT) Q2 Earnings & Revenues Beat Estimates
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
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.
Operational Highlights
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.
Financial Update
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.
Guidance
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
Alliant Energy Corporation Price, Consensus and EPS Surprise | Alliant Energy Corporation Quote
Peer Releases
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.
Zacks Rank
Alliant Energy carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. See Them Free>>