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Alliant Energy (LNT) Q2 Earnings Miss Estimates, Sales Up

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Alliant Energy Corporation (LNT - Free Report) reported second-quarter 2018 operating earnings of 43 cents per share, lagging the Zacks Consensus Estimate of 46 cents by 6.5%. The reported earnings increased 4.9% from 41 cents in the year-ago quarter.

The year-over-year increase in earnings was due to colder-than-usual temperatures in the first half and warmer-than-normal temperatures in the second half of second-quarter 2018, resulting in 6 cents increase in margins.

Alliant Energy Corporation Price, Consensus and EPS Surprise
 

Alliant Energy Corporation Price, Consensus and EPS Surprise | Alliant Energy Corporation Quote

Total Revenues

Total revenues in the second quarter came in at $816.1 million, increasing 6.6% year over year. The revenue growth was owing to higher year-over-year contribution from its Electric and Gas utility.

Operational Highlights

Total operating expenses were $664.9 million in the reported quarter, reflecting an increase of nearly 8.7% from $661.6 million in the year-ago period. This increase in expenses can be attributed to a rise in electric production fuel and purchased power, as well as increase in other operating and maintenance expenses during the quarter.

Operating income was $151.2 million, down 1.6% from $153.7 million in the year-ago quarter.

Interest expenses were $61.3 million, reflecting an increase of 13.2% from $52.3 million in the prior-year quarter.

Financial Update

Cash and cash equivalents were $5.0 million as of Jun 30, 2018, up from $27.9 million on Dec 31, 2017.

Long-term debt (excluding current portion) was $5,127.5 million as of Jun 30, 2018, higher than $4,010.6 million on Dec 31, 2017.

In the first half of 2018, cash (used)/received in operating activities was ($65 million) compared with $127.5 million in first-half 2017.

Guidance

Alliant Energy reiterated 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

American Electric Power Co., Inc. (AEP - Free Report) reported second-quarter 2018 adjusted earnings per share (EPS) of $1.01, beating the Zacks Consensus Estimate of 88 cents by 14.8%.

NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2018 adjusted earnings of $2.11 per share, which beat the Zacks Consensus Estimate of $2.07 by 1.9%.

Dominion Energy Inc. (D - Free Report) reported second-quarter 2018 operating earnings of 86 cents per share, beating the Zacks Consensus Estimate of 78 cents by 10.3%.

Zacks Rank

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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