Alliant Energy Corporation LNT reported fourth-quarter 2016 operating earnings of 28 cents per share in line with the Zacks Consensus Estimate. However, reported earnings were 75% higher than the year-ago figure of 16 cents.
GAAP earnings in the reported quarter came in at 28 cents, compared with 15 cents in the year-ago quarter.
Full-year adjusted earnings were $1.88 a penny lower compared with the Zacks Consensus Estimate of $1.89. However, earnings were 7.4% higher than the prior-year figure and were within the earnings guidance of $1.84–$1.92 per share.
Total revenue in the fourth quarter amounted to $797.0 million, 7.7% higher than the year-ago tally. Top-line results were up on the back of higher contribution from the Electric and Gas utility segments.
Total revenue in 2016 was $3,320 million up 2.0% from the year-ago level.
Total operating expense was $697.1 million in the reported quarter, up nearly 5.5% from $660.9 million in the year-ago period.
Operating income was $99.9 million, up 26.1% from $79.2 million in the year-ago quarter.
Interest expenses increased 7.9% to $51.4 million from $47.6 million in the year-ago quarter.
Alliant Energy Corporation Price, Consensus and EPS Surprise
Alliant Energy Corporation Price, Consensus and EPS Surprise | Alliant Energy Corporation Quote
Cash and cash equivalents were $8.2 million as of Dec 31, 2016, down from $5.8 million as of Dec 31, 2015.
Long-term debt (excluding current portion) was $4,315.6 million as of Dec 31, 2016, compared with nearly $3,522.2 million as of Dec 31, 2015.
Cash used in operating activities in 2016 was $1,186.5 million, compared with $919.0 million in the year-ago comparable period.
Alliant Energy provided 2017 earnings per share guidance in the range of $1.92–$2.06.
At Utilities, American Transmission Company LLC and Corporate Services, earnings are expected in the range of $1.90−$2.02 per share. At Non-regulated and Parent, the company projects earnings in the range of 2–4 cents per share.
Capital expenditure is projected to be nearly $5.56 billion for the 2017–2020 period, comprising $1.4 billion for 2017.
Dominion Resources Inc. D reported fourth-quarter 2016 operating earnings of 99 cents per share, lagging the Zacks Consensus Estimate of $1.00 by a penny.
DTE Energy Company DTE reported fourth-quarter 2016 operating earnings per share of 81 cents, which missed the Zacks Consensus Estimate of 84 cents by 3.6%.
CMS Energy Corporation CMS reported fourth-quarter 2016 adjusted earnings per share of 29 cents, in line with the Zacks Consensus Estimate.
Alliant Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
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