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Alliant Energy (LNT) to Post Q2 Earnings: What's in Store?
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Alliant Energy (LNT - Free Report) is scheduled to release second-quarter 2024 results on Aug 1, after market close. The company delivered a negative earnings surprise of 6.1% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
During the second quarter of 2024, Alliant Energy successfully completed its Grant County Solar Project. The 200-megawatt (MW) solar array in Potosi, WI, can generate enough electricity to power more than 50,000 homes annually. The project’s completion marks the culmination of Alliant Energy’s multi-phase buildout of 12 utility-scale solar projects in Wisconsin totaling 1,089 MW. Also, LNT’s one-megawatt Fareway Solar Field went online during the same period. These achievements are likely to have a positive impact on the company’s quarterly results.
During the first quarter, LNT witnessed the start of electricity production from its largest solar project in Iowa, which has a capacity of 4.5 MW. A total of 50 MW of solar projects in Iowa came online during that period. This is also expected to have boosted earnings in the to-be-reported quarter.
However, in June 2024, some of the company’s service areas witnessed tornadoes, resulting in widespread damage and power outages. This might have resulted in higher operation and maintenance expenses during the quarter. Higher depreciation expenses and financing costs might have also offset some positives.
Q2 Expectations
The Zacks Consensus Estimate for earnings is pegged at 71 cents per share, indicating a year-over-year improvement of 10.9%.
The Zacks Consensus Estimate for revenues is pinned at $1.09 billion, implying a year-over-year increase of 19.7%.
The Zacks Consensus Estimate for total utility electric sales retail is pinned at 5,979.8 thousand megawatt-hours (MWh), down 0.04% year over year. The consensus mark for total electricity delivered is pegged at 7,879.5 MWh, up 1.3% year over year.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Alliant Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below.
Earnings ESP: The company’s Earnings ESP is -3.55%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Investors may consider the following players from the same industry as these have the right combination of elements to post an earnings beat this reporting cycle.
The AES Corporation (AES - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug 1. It has an Earnings ESP of +10.2% and a Zacks Rank #2 at present.
The Zacks Consensus Estimate for earnings has moved up 22.2% in the past 30 days. The Zacks Consensus Estimate for sales is pegged at $3.2 billion, which implies a year-over-year increase of 4.7%.
Xcel Energy (XEL - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug 1. It has an Earnings ESP of +6.12% and a Zacks Rank #2 at present.
XEL’s long-term (three to five years) earnings growth rate is 6.39%. The Zacks Consensus Estimate for second-quarter earnings has moved up 8.9% in the past 90 days.
TransAlta (TAC - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug 1. It has an Earnings ESP of +20.00% and a Zacks Rank #1 at present.
The Zacks Consensus Estimate for second-quarter earnings has moved up 20% in the past seven days. It delivered an average earnings surprise of 174.7% in the past four quarters.
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Alliant Energy (LNT) to Post Q2 Earnings: What's in Store?
Alliant Energy (LNT - Free Report) is scheduled to release second-quarter 2024 results on Aug 1, after market close. The company delivered a negative earnings surprise of 6.1% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
During the second quarter of 2024, Alliant Energy successfully completed its Grant County Solar Project. The 200-megawatt (MW) solar array in Potosi, WI, can generate enough electricity to power more than 50,000 homes annually. The project’s completion marks the culmination of Alliant Energy’s multi-phase buildout of 12 utility-scale solar projects in Wisconsin totaling 1,089 MW. Also, LNT’s one-megawatt Fareway Solar Field went online during the same period. These achievements are likely to have a positive impact on the company’s quarterly results.
During the first quarter, LNT witnessed the start of electricity production from its largest solar project in Iowa, which has a capacity of 4.5 MW. A total of 50 MW of solar projects in Iowa came online during that period. This is also expected to have boosted earnings in the to-be-reported quarter.
However, in June 2024, some of the company’s service areas witnessed tornadoes, resulting in widespread damage and power outages. This might have resulted in higher operation and maintenance expenses during the quarter. Higher depreciation expenses and financing costs might have also offset some positives.
Q2 Expectations
The Zacks Consensus Estimate for earnings is pegged at 71 cents per share, indicating a year-over-year improvement of 10.9%.
The Zacks Consensus Estimate for revenues is pinned at $1.09 billion, implying a year-over-year increase of 19.7%.
The Zacks Consensus Estimate for total utility electric sales retail is pinned at 5,979.8 thousand megawatt-hours (MWh), down 0.04% year over year. The consensus mark for total electricity delivered is pegged at 7,879.5 MWh, up 1.3% year over year.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Alliant Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below.
Alliant Energy Corporation Price and EPS Surprise
Alliant Energy Corporation price-eps-surprise | Alliant Energy Corporation Quote
Earnings ESP: The company’s Earnings ESP is -3.55%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Alliant Energy carries a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank stocks here.
Stocks to Consider
Investors may consider the following players from the same industry as these have the right combination of elements to post an earnings beat this reporting cycle.
The AES Corporation (AES - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug 1. It has an Earnings ESP of +10.2% and a Zacks Rank #2 at present.
The Zacks Consensus Estimate for earnings has moved up 22.2% in the past 30 days. The Zacks Consensus Estimate for sales is pegged at $3.2 billion, which implies a year-over-year increase of 4.7%.
Xcel Energy (XEL - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug 1. It has an Earnings ESP of +6.12% and a Zacks Rank #2 at present.
XEL’s long-term (three to five years) earnings growth rate is 6.39%. The Zacks Consensus Estimate for second-quarter earnings has moved up 8.9% in the past 90 days.
TransAlta (TAC - Free Report) is likely to come up with an earnings beat when it reports second-quarter results on Aug 1. It has an Earnings ESP of +20.00% and a Zacks Rank #1 at present.
The Zacks Consensus Estimate for second-quarter earnings has moved up 20% in the past seven days. It delivered an average earnings surprise of 174.7% in the past four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.