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Alliant Energy's (LNT) Q1 Earnings In Line, Revenues Up Y/Y
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Alliant Energy Corporation (LNT - Free Report) reported first-quarter 2019 operating earnings of 53 cents per share, in line with the Zacks Consensus Estimate. The reported earnings came ahead of the year-ago figure by a penny.
The year-over-year improvement in earnings was primarily due to higher contribution from Utilities and Corporate Services.
Total Revenues
Total revenues in the first quarter came in at $987.3 million, increasing 7.7% year over year.
Alliant Energy Corporation Price, Consensus and EPS Surprise
Total operating expenses were $810.4 million in the reported quarter, reflecting an increase of 7.9% from $750 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 an increase in cost of gas sold.
Operating income was $176.8 million, up 6.7% from $165.7 million in the year-ago quarter.
Interest expenses were $66.3 million, reflecting an increase of 11.9% from $59.2 million in the prior-year quarter.
During the first quarter, the company’s retail electric and gas utility customers grew 0.3% and 0.4% year over year, respectively. The increase in customer count had a positive impact on volumes of electric and natural gas during the quarter.
Financial Update
Cash and cash equivalents were $10.1 million as of Mar 31, 2019, down from $20.9 million on Dec 31, 2018.
Long-term debt (excluding current portion) was $5,362.2 million as of Mar 31, 2019, higher than $5,246.3 million on Dec 31, 2018.
In first-quarter 2019, cash flow from operating activities was $181.1 million compared with $156.3 million in the year-ago period.
Guidance
Alliant Energy reiterated its 2019 consolidated earnings per share guidance in the range of $2.17-$2.31. The guidance assumes normal temperature in its service territories during the year.
For Utilities (American Transmission Company LLC and Corporate Services), earnings per share are expected within $2.14-$2.24. For ATC Holdings, the company expects earnings per share in the range of 11-13 cents. For Non-regulated and Parent, earnings are likely to have a negative impact of 6-8 cents.
Other Utility Releases
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2019 adjusted earnings of $2.20 per share, beating the Zacks Consensus Estimate of $2.01 by 9.4%.
FirstEnergy Corporation (FE - Free Report) reported first-quarter 2019 operating earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 66 cents by 1.52%.
American Electric Power Co., Inc. (AEP - Free Report) reported first-quarter 2019 adjusted earnings per share of $1.19, surpassing the Zacks Consensus Estimate of $1.10 by 8.2%.
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Alliant Energy's (LNT) Q1 Earnings In Line, Revenues Up Y/Y
Alliant Energy Corporation (LNT - Free Report) reported first-quarter 2019 operating earnings of 53 cents per share, in line with the Zacks Consensus Estimate. The reported earnings came ahead of the year-ago figure by a penny.
The year-over-year improvement in earnings was primarily due to higher contribution from Utilities and Corporate Services.
Total Revenues
Total revenues in the first quarter came in at $987.3 million, increasing 7.7% year over year.
Alliant Energy Corporation Price, Consensus and EPS Surprise
Alliant Energy Corporation Price, Consensus and EPS Surprise | Alliant Energy Corporation Quote
Operational Highlights
Total operating expenses were $810.4 million in the reported quarter, reflecting an increase of 7.9% from $750 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 an increase in cost of gas sold.
Operating income was $176.8 million, up 6.7% from $165.7 million in the year-ago quarter.
Interest expenses were $66.3 million, reflecting an increase of 11.9% from $59.2 million in the prior-year quarter.
During the first quarter, the company’s retail electric and gas utility customers grew 0.3% and 0.4% year over year, respectively. The increase in customer count had a positive impact on volumes of electric and natural gas during the quarter.
Financial Update
Cash and cash equivalents were $10.1 million as of Mar 31, 2019, down from $20.9 million on Dec 31, 2018.
Long-term debt (excluding current portion) was $5,362.2 million as of Mar 31, 2019, higher than $5,246.3 million on Dec 31, 2018.
In first-quarter 2019, cash flow from operating activities was $181.1 million compared with $156.3 million in the year-ago period.
Guidance
Alliant Energy reiterated its 2019 consolidated earnings per share guidance in the range of $2.17-$2.31. The guidance assumes normal temperature in its service territories during the year.
For Utilities (American Transmission Company LLC and Corporate Services), earnings per share are expected within $2.14-$2.24. For ATC Holdings, the company expects earnings per share in the range of 11-13 cents. For Non-regulated and Parent, earnings are likely to have a negative impact of 6-8 cents.
Other Utility Releases
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2019 adjusted earnings of $2.20 per share, beating the Zacks Consensus Estimate of $2.01 by 9.4%.
FirstEnergy Corporation (FE - Free Report) reported first-quarter 2019 operating earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 66 cents by 1.52%.
American Electric Power Co., Inc. (AEP - Free Report) reported first-quarter 2019 adjusted earnings per share of $1.19, surpassing the Zacks Consensus Estimate of $1.10 by 8.2%.
Zacks Rank
Currently, Alliant Energy carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Today's Best Stocks from Zacks
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This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
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