Alliant Energy Corporation LNT reported fourth-quarter 2018 operating earnings of 36 cents per share, in line with the Zacks Consensus Estimate. The reported earnings increased 9.1% from 33 cents recorded in the year-ago quarter.
Full-year 2018 earnings came in at $2.17, which is within the estimated range of $2.13-$2.19 per share predicted by the company.
Total revenues in the fourth quarter came in at $873.5 million, increasing 2.1% year over year. The revenue growth was due to higher year-over-year contribution from its Electric and Gas utility segments.
Alliant Energy Corporation Price, Consensus and EPS Surprise
Alliant Energy Corporation Price, Consensus and EPS Surprise | Alliant Energy Corporation Quote
Total operating expenses were $752.1 million in the reported quarter, reflecting an increase of 4.2% from $722.1 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 electric transmission service cost.
Operating income was $121.4 million, down 9.4% from $134 million in the year-ago quarter.
Interest expenses were $63.2 million, reflecting an increase of 11.7% from $56.6 million in the prior-year quarter.
Cash and cash equivalents were $20.9 million as of Dec 31, 2018, down from $27.9 million in the corresponding period of 2017.
Long-term debt (excluding current portion) was $5,246.3 million as of Dec 31, 2018, higher than $4,010.6 million in the comparable year-ago period.
In 2018, cash flow from operating activities was $527.7 million compared with $521.6 million a year ago.
Alliant Energy reiterated its 2018 consolidated earnings per share guidance in the range of $2.17-$2.31.
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
FirstEnergy Corporation FE recorded fourth-quarter 2018 operating earnings of 50 cents per share, which beat the Zacks Consensus Estimate of 48 cents by 4.17%.
NextEra Energy Inc. NEE released fourth-quarter 2018 adjusted earnings of $1.49 per share, which lagged the Zacks Consensus Estimate of $1.51 by 1.3%.
Xcel Energy Inc. XEL posted fourth-quarter 2018 operating earnings of 42 cents per share, in line with the Zacks Consensus Estimate.
Currently, Alliant Energy carries a Zacks Rank #2 (Buy). You can see tthe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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