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Alliant Energy's (LNT) Q4 Earnings & Revenues Improve Y/Y

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Alliant Energy Corporation (LNT - Free Report) reported fourth-quarter 2019 operating earnings of 44 cents per share, increasing from the year-ago figure of 36 cents by 22.2%.

The year-over-year growth in earnings was attributable to increasing rate base at Interstate Power and Light Company (IPL), and Wisconsin Power and Light Company (WPL).

Full-year earnings of $2.31 per share came within the guided range of $2.27-$2.33.

Total Revenues

Total revenues in the fourth quarter came in at $880.1 million, improving 0.8% year over year.

Alliant Energy Corporation Price, Consensus and EPS Surprise

Alliant Energy Corporation Price, Consensus and EPS Surprise

Alliant Energy Corporation price-consensus-eps-surprise-chart | Alliant Energy Corporation Quote

Operational Highlights

Total operating expenses were $719.2 million in the reported quarter, decreasing 4.4% from $752.1 million in the year-ago period. The decline was due to lower costs of electric production fuel and purchased power in the reported quarter.

Operating income was $160.9 million, up 32.5% from $121.4 million in the year-ago quarter.

Interest expenses were $69.1 million, increasing 9.3% from $63.2 million in the prior-year quarter.

During the fourth quarter, the company’s retail electric and gas utility customers grew 0.6% and 0.5% year over year, respectively. The increase in its customer count had a positive impact on electric and natural gas volumes sold, which improved 3.9% and 11% year over year, respectively.

Financial Update

Cash and cash equivalents were $16.3 million as of Dec 31, 2019, down from $20.9 million in the corresponding period of 2018.

Long-term debt (excluding current portion) was $5,533 million as of Dec 31, 2019, higher than $5,246.3 million in the comparable period of 2018.

In 2019, cash flow from operating activities was $660.4 million compared with $527.7 million a year ago.

Guidance

Alliant Energy reiterated its 2020 earnings guidance in the range of $2.34-$2.48 per share. The guidance takes into account positive regulatory outcome at IPL, stable economy, proper execution of cost-control measures and normal temperature in its service territories.

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.

Recent Industry Releases

Exelon Corporation’s (EXC - Free Report) fourth-quarter 2019 operating earnings of 83 cents per share surpassed the Zacks Consensus Estimate of 73 cents by 13.6%.

Dominion Energy Inc. (D - Free Report) reported fourth-quarter 2019 operating earnings of $1.18 per share, beating the Zacks Consensus Estimate of $1.16 by 1.7%.

NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2019 adjusted earnings of $1.44 per share, lagging the Zacks Consensus Estimate of $1.54 by 6.5%.

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