Alliant Energy Beats Earnings, Sales Rise - Analyst Blog
May 07 2013 - 5:20AM
Zacks
Alliant Energy
Corporation (LNT) reported first-quarter 2013 operating
earnings of 72 cents per share, up 16.1% from the Zacks Consensus
Estimate of 62 cents. Earnings were 22 cents higher than the
year-ago figure of 50 cents.
Earnings benefited from a harsh winter, which cast a positive
impact on the demand for electricity and natural gas. In addition,
higher income from Interstate Power and Light Company's (IPL) tax
benefit riders also benefited the bottom line.
Total Revenue
Total revenue at the end of the first quarter were $859.6 million,
up 12.3% from $765.7 million in the year-ago period.
Revenues were also 15.4% higher than the Zacks Consensus Estimate
of $745 million.
Highlights of the Release
Total operating expenses were $738.9 million, up 10.3% from $670.1
million incurred in the year-ago period. The increase in expenses
was primarily due to higher electric production fuel and energy
purchases, escalation in electric transmission service costs and an
increase in cost of goods sold.
Operating income was $120.7 million, up 26.2% from $95.6 million in
the year-ago quarter. Operating income benefited from the growth in
the top line.
Interest expenses increased to $42.6 million from $38.9 million in
the year-ago quarter.
Financial Highlights
The cash position of the company improved from prior-year levels.
Cash and cash equivalents as of Mar 31, 2012 were $53.4 million
versus $21.2 million as of Dec 31, 2012.
Long-term debt was $3.12 billion as of Mar 31, 2013 compared with
$3.14 billion as of Dec 31, 2012.
Cash flow from operating activities in first quarter 2013 was
$198.6 million versus $215 million in first quarter 2012.
Guidance
Alliance Energy reiterated its earnings per share guidance for 2013
in the band of $2.95 to $3.25.
Other Company Releases
Entergy Corporation (ETR) reported earnings of 94 cents per share
in the first quarter, in line with the Zacks Consensus
Estimate.
CMS Energy Corp. (CMS) reported first-quarter 2013 operating
earnings of 53 cents per share, 15.2% higher than the Zacks
Consensus Estimate of 46 cents.
Northeast Utilities (NU) reported earnings of 73 cents in the first
quarter of 2013, up 12.3% from the Zacks Consensus Estimate of 65
cents.
Our View
Alliant Energy reported solid results in the reported quarter,
surpassing our expectation. The company’s ability to increase its
retail electricity and gas customers is commendable.
Based in Madison, Wis., Alliant Energy Corporation was founded in
1917. The company provides services to one million electric and
415,000 natural gas consumers located in Iowa, Wisconsin and
Minnesota. With a market cap of $5.84 billion the company has 4,055
full time employees. Alliant Energy retains a Zacks Rank #3
(Hold).
CMS ENERGY (CMS): Free Stock Analysis Report
ENTERGY CORP (ETR): Free Stock Analysis Report
ALLIANT ENGY CP (LNT): Free Stock Analysis Report
NORTHEAST UTIL (NU): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Nu (NYSE:NU)
Historical Stock Chart
From Jun 2024 to Jul 2024
Nu (NYSE:NU)
Historical Stock Chart
From Jul 2023 to Jul 2024