Alliant Energy Corporation
) reported fourth-quarter 2012 operating earnings of 64 cents per
share, up 10.3% from the Zacks Consensus Estimate of 58 cents.
The results of the company were 6 cents lower than the year-ago
earnings of 58 cents.
2012 operating earnings of Alliant Energy were $3.05 per share,
up 3.4% from the prior year and 2.7% from the Zacks Consensus
2012 earnings benefited from lower operation and maintenance
expenses, and higher retail fuel cost recovery, offset partially
by higher depreciation expenses.
Total revenues at the end of the fourth quarter were $750.9
million, down 1.3% from $760.8 million in the year-ago period.
The results were also lower than the Zacks Consensus Estimate of
2012 revenues were $3.1 billion, down 3.9% from the prior year
and 2.3% from the Zacks Consensus Estimate.
Highlights of the Release
Total operating expenses were $2.6 billion, down 4.9% from $2.7
billion incurred in the year-ago period. The 3.7% decline in
input costs and 6.3% decline in the operation and maintenance
cost led to the overall decline.
The decline in total expenses in 2012 boosted the margins while
operating income was up by $6.3 million to $519.7 million.
Interest expenses decreased marginally to $156.7 million from
$158.3 million in 2011.
Cash and cash equivalents as of Dec 31, 2012 were $21.2 million
versus $11.4 million as of Dec 31, 2011.
Long-term debt was $3.1 billion as of Dec 31, 2012 compared with
$2.7 billion as of Dec 31, 2011.
Cash flow from operating activities in 2012 was $841.1 million
versus $702.7 million in 2011.
Alliance Energy expects earnings per share in 2013 in the band of
$2.95 to $3.25. Earnings are expected to benefit from rate
base growth and cost cutting initiatives.
Other Company Releases
Pike Electric Corporation
) reported earnings of 67 cents per share in the second quarter
of fiscal 2013, surpassing the Zacks Consensus Estimate of 25
cents by 168%.
Brookfield Infrastructure Partners L.P.
) announced fourth-quarter 2012 operating earnings of 25 cents
per unit, 56.9% lower than the Zacks Consensus Estimate of 58
Otter Tail Corporation
) announced fourth-quarter 2012 operating earnings of 47 cents
per share, 56.7% higher than the Zacks Consensus Estimate of 30
Alliant Energy reported mixed results in the reported quarter.
However, the ability of the company to increase its retail
electricity and gas customers is commendable.
Like any other utility in the U.S. Alliant Energy too had to cope
with fluctuations in the weather pattern, particularly the mild
weather in the first quarter of 2012, which had a negative impact
on full year performance. Alliant Energy retains a Zacks
Rank #3 (Hold).
Based in Madison, Wisconsin, Alliant Energy Corporation is an
electric and natural gas service provider. The company provides
services to one million electric and 413,000 natural gas
consumers located in Iowa, Wisconsin and Minnesota.
BROOKFIELD INFR (BIP): Free Stock Analysis
ALLIANT ENGY CP (LNT): Free Stock Analysis
OTTER TAIL CORP (OTTR): Free Stock Analysis
PIKE ELECTRIC (PIKE): Free Stock Analysis
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