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Alliant Energy (LNT) Q4 Earnings Meet, 2017 View Issued
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Alliant Energy Corporation (LNT - Free Report) 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
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.
Operational Highlights
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
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.
Guidance
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.
Peer Releases
Dominion Resources Inc. (D - Free Report) 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 - Free Report) 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 - Free Report) reported fourth-quarter 2016 adjusted earnings per share of 29 cents, in line with the Zacks Consensus Estimate.
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Alliant Energy (LNT) Q4 Earnings Meet, 2017 View Issued
Alliant Energy Corporation (LNT - Free Report) 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
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.
Operational Highlights
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
Financial Highlights
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.
Guidance
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.
Peer Releases
Dominion Resources Inc. (D - Free Report) 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 - Free Report) 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 - Free Report) reported fourth-quarter 2016 adjusted earnings per share of 29 cents, in line with the Zacks Consensus Estimate.
Zacks Rank
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.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>