Alliant Energy Corporation (LNT - Free Report) reported first-quarter 2018 operating earnings from continuing operations of 52 cents per share, beating the Zacks Consensus Estimate of 51 cents. Reported earnings increased 20.9% from 43 cents in the year-ago quarter.
The year-over-year increase in earnings was due to higher retail electric and gas sales due to colder temperatures in the first quarter of 2018 compared with the same period last year
Total revenues in the first quarter came in at $916.3 million, increasing 7.3% year over year. The rise was owing to higher year-over-year contribution from its Electric and Gas utility.
Total operating expenses were $750.6 million in the reported quarter, reflecting an increase of nearly 6.2% from $706.7 million in the year-ago period. This increase in expenses can be attributed to a rise in the cost of gas sold and energy efficiency, and depreciation and other expenses during the quarter.
Operating income was $165.7 million, up 12.6% from $147.2 million in the year-ago quarter.
Interest expenses were $59.2 million, an increase of 13.2% from $52.3 million in the prior-year quarter.
Cash and cash equivalents were $19.1 million as of Mar 31, 2018, up from $27.9 million as of Dec 31, 2017.
Long-term debt (excluding current portion) was $4,056.8 million as of Mar 31, 2018, marginally higher than $4,010.6 million as of Dec 31, 2017.
In first-quarter 2018, cash received from operating activities was $89.3 million, up from $119.0 million in first-quarter 2017.
Alliant Energy maintained its 2018 consolidated earnings per share guidance in the range of $2.04-$2.18 per share.
For Utilities, American Transmission Company LLC and Corporate Services, earnings per share are now expected within $1.92-$2.02. For Non-regulated and Parent & ATC, the company expects earnings per share in the range of 12-16 cents.
Other Utility Releases
Exelon Corporation’s (EXC - Free Report) first-quarter 2018 operating earnings of 96 cents per share beat the Zacks Consensus Estimate of 93 cents by 3.2%.
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2018 adjusted earnings of $1.94 per share, beating the Zacks Consensus Estimate of $1.78 by 8.9%.
Dominion Energy Inc. (D - Free Report) reported first-quarter 2018 operating earnings of $1.14 per share, beating the Zacks Consensus Estimate of $1.03 by 10.7%.
Currently, 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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