Alliant Energy Corporation (NYSE:LNT) reported fourth-quarter 2017 operating earnings from continuing operations of 33 cents per share, missing the Zacks Consensus Estimate of 38 cents by 13.2%. However, reported earnings increased from 28 cents in the year-ago quarter.
On a GAAP basis, Alliant Energy reported earnings of 41 cents per share, up from 28 cents a year ago. The difference between GAAP and adjusted earnings was primarily due to the IPL retail electric rate review settlement and the effects of the tax reform.
For 2017, Alliant Energy reported operating earnings of $1.93 per share, up 3.2% from 2016.
Total Revenues
Total revenues in the fourth quarter came in at $856.1 million, increasing 7.4% year over year. The rise was owing to higher year-over-year contribution from its Electric and Gas utility.
Operational Highlights
Total operating expenses were $726.4 million in the reported quarter, reflecting an increase of nearly 4.2% from $697.1 million in the year-ago period. This increase in expenses can be attributed to a rise in cost of gas sold, energy efficiency cost, and depreciation and other expenses during the quarter.
Operating income was $129.7 million, up 29.8% from $99.9 million in the year-ago quarter.
Interest expenses were $56.6 million, an increase of 10.1% from $51.4 million in the year-ago quarter.
Financial Update
Cash and cash equivalents were $27.9 million as of Dec 31, 2017, rising from $8.2 million as of Dec 31, 2016.
Long-term debt (excluding current portion) was $4,010.6 million as of Dec 31, 2017, lower than $4,315.6 million as of Dec 31, 2016.
In 2017, cash received from operating activities was $983.4 million, up from $859.6 million received in 2016.
Guidance
Alliant Energy maintained 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 in the range of $1.92-$2.02 compared with $1.92-$2.04 expected previously. For Non-regulated and Parent & ATC, the company expects earnings per share in the range of 12-16 cents compared with the prior guidance of 12-14 cents.
Peer Releases
WEC Energy Group (NYSE:WEC) reported fourth-quarter 2017 operating earnings of 71 cents per share, beating the Zacks Consensus Estimate of 67 cents by 5.97%.
NextEra Energy (NYSE:NEE) reported fourth-quarter 2017 adjusted earnings of $1.25 per share, missing the Zacks Consensus Estimate of $1.31 by 4.58%.
FirstEnergy (NYSE:FE) reported fourth-quarter 2017 operating earnings of 71 cents per share, beating the Zacks Consensus Estimate of 69 cents by 2.9%.
Zacks Rank
Alliant Energy carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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WEC Energy Group, Inc. (WEC): Free Stock Analysis Report
NextEra Energy, Inc. (NEE): Free Stock Analysis Report
FirstEnergy Corporation (FE): Free Stock Analysis Report
Alliant Energy Corporation (LNT): Free Stock Analysis Report
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