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Alliant Energy (LNT) Q2 Earnings Miss Estimates, Sales Up
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Alliant Energy Corporation (LNT - Free Report) reported second-quarter 2018 operating earnings of 43 cents per share, lagging the Zacks Consensus Estimate of 46 cents by 6.5%. The reported earnings increased 4.9% from 41 cents in the year-ago quarter.
The year-over-year increase in earnings was due to colder-than-usual temperatures in the first half and warmer-than-normal temperatures in the second half of second-quarter 2018, resulting in 6 cents increase in margins.
Alliant Energy Corporation Price, Consensus and EPS Surprise
Total revenues in the second quarter came in at $816.1 million, increasing 6.6% year over year. The revenue growth was owing to higher year-over-year contribution from its Electric and Gas utility.
Operational Highlights
Total operating expenses were $664.9 million in the reported quarter, reflecting an increase of nearly 8.7% from $661.6 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 increase in other operating and maintenance expenses during the quarter.
Operating income was $151.2 million, down 1.6% from $153.7 million in the year-ago quarter.
Interest expenses were $61.3 million, reflecting an increase of 13.2% from $52.3 million in the prior-year quarter.
Financial Update
Cash and cash equivalents were $5.0 million as of Jun 30, 2018, up from $27.9 million on Dec 31, 2017.
Long-term debt (excluding current portion) was $5,127.5 million as of Jun 30, 2018, higher than $4,010.6 million on Dec 31, 2017.
In the first half of 2018, cash (used)/received in operating activities was ($65 million) compared with $127.5 million in first-half 2017.
Guidance
Alliant Energy reiterated its 2018 consolidated earnings per share guidance in the range of $2.04-$2.18 per share.
For Utilities, — American Transmission Company LLC and Corporate Services — earnings per share are now expected within $1.92-$2.02. For Non-regulated and Parent & ATC, the company expects earnings per share in the range of 12-16 cents.
Other Utility Releases
American Electric Power Co., Inc. (AEP - Free Report) reported second-quarter 2018 adjusted earnings per share (EPS) of $1.01, beating the Zacks Consensus Estimate of 88 cents by 14.8%.
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2018 adjusted earnings of $2.11 per share, which beat the Zacks Consensus Estimate of $2.07 by 1.9%.
Dominion Energy Inc. (D - Free Report) reported second-quarter 2018 operating earnings of 86 cents per share, beating the Zacks Consensus Estimate of 78 cents by 10.3%.
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Alliant Energy (LNT) Q2 Earnings Miss Estimates, Sales Up
Alliant Energy Corporation (LNT - Free Report) reported second-quarter 2018 operating earnings of 43 cents per share, lagging the Zacks Consensus Estimate of 46 cents by 6.5%. The reported earnings increased 4.9% from 41 cents in the year-ago quarter.
The year-over-year increase in earnings was due to colder-than-usual temperatures in the first half and warmer-than-normal temperatures in the second half of second-quarter 2018, resulting in 6 cents increase in margins.
Alliant Energy Corporation Price, Consensus and EPS Surprise
Alliant Energy Corporation Price, Consensus and EPS Surprise | Alliant Energy Corporation Quote
Total Revenues
Total revenues in the second quarter came in at $816.1 million, increasing 6.6% year over year. The revenue growth was owing to higher year-over-year contribution from its Electric and Gas utility.
Operational Highlights
Total operating expenses were $664.9 million in the reported quarter, reflecting an increase of nearly 8.7% from $661.6 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 increase in other operating and maintenance expenses during the quarter.
Operating income was $151.2 million, down 1.6% from $153.7 million in the year-ago quarter.
Interest expenses were $61.3 million, reflecting an increase of 13.2% from $52.3 million in the prior-year quarter.
Financial Update
Cash and cash equivalents were $5.0 million as of Jun 30, 2018, up from $27.9 million on Dec 31, 2017.
Long-term debt (excluding current portion) was $5,127.5 million as of Jun 30, 2018, higher than $4,010.6 million on Dec 31, 2017.
In the first half of 2018, cash (used)/received in operating activities was ($65 million) compared with $127.5 million in first-half 2017.
Guidance
Alliant Energy reiterated its 2018 consolidated earnings per share guidance in the range of $2.04-$2.18 per share.
For Utilities, — American Transmission Company LLC and Corporate Services — earnings per share are now expected within $1.92-$2.02. For Non-regulated and Parent & ATC, the company expects earnings per share in the range of 12-16 cents.
Other Utility Releases
American Electric Power Co., Inc. (AEP - Free Report) reported second-quarter 2018 adjusted earnings per share (EPS) of $1.01, beating the Zacks Consensus Estimate of 88 cents by 14.8%.
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2018 adjusted earnings of $2.11 per share, which beat the Zacks Consensus Estimate of $2.07 by 1.9%.
Dominion Energy Inc. (D - Free Report) reported second-quarter 2018 operating earnings of 86 cents per share, beating the Zacks Consensus Estimate of 78 cents by 10.3%.
Zacks Rank
Currently, Alliant Energy carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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