Alliant Energy's Q3 Earnings Beat Estimates, Revenues Rise Y/Y

Alliant Energy Corporation LNT reported third-quarter 2024 operating earnings of $1.15 per share, which beat the Zacks Consensus Estimate of $1.11 by 3.6%. The bottom line also rose 9.5% from the year-ago quarter’s $1.05 per share.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.LNT’s Revenues Revenues totaled $1.081 billion, which beat the Zacks Consensus Estimate of $1.080 billion by 0.1%. The top line also increased 0.4% from the year-ago quarter’s $1.077 billion.Alliant Energy Corporation Price, Consensus and EPS Surprise Alliant Energy Corporation price-consensus-eps-surprise-chart | Alliant Energy Corporation QuoteLNT’s Operational Highlights Total operating expenses were $768 million in the quarter, up 1.7% from $755 million in the year-ago period. This was due to higher electric transmission service expenses, higher cost of gas sold, and increased depreciation and amortization expenses.Operating income totaled $313 million, down 2.8% from the year-ago reported figure.Interest expenses amounted to $114 million, 15.2% higher than the actual of the prior-year period.The company’s retail electric and retail gas customers increased 0.8% and 0.6%, respectively, year over year.LNT reported total utility electric sales of 8,856 thousand megawatt-hours (MWh), down 2% from the year-ago quarter’s reported figure.Total utility gas sold and transported was 33,520 thousand dekatherms, up 1.4% year over year.LNT’s Financial Update Cash and cash equivalents amounted to $827 million as of Sept. 30, 2024 compared with $62 million as of Dec. 31, 2023.Long-term debt (excluding the current portion) totaled $9.25 billion as of Sept. 30, 2024, higher than $8.23 billion recorded as of Dec. 31, 2023.Cash flow from operating activities in the first nine months of 2024 totaled $913 million compared with $622 million in the year-ago period.LNT’s 2024 Guidance Alliant Energy narrowed its 2024 earnings guidance in the range of $2.99-$3.06 per share compared to its earlier guidance range of $2.99-$3.13. The projection considers the average temperature in its service territories, execution of cost controls and the consolidated effective tax rate of 15%. The Zacks Consensus Estimate for earnings is pegged at $3.05 per share, higher than the midpoint of the company’s guided range.LNT’s Zacks Rank Alliant Energy currently carries a Zacks Rank #4 (Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Recent Utility Releases CenterPoint Energy, Inc. CNP reported third-quarter 2024 adjusted earnings of 31 cents per share, which missed the Zacks Consensus Estimate of 36 cents by 13.9%. The bottom line also deteriorated by 22.5% from the year-ago figure.CNP generated revenues of $1.86 billion, which missed the Zacks Consensus Estimate of $1.88 billion by 1.2%. The top line also came in 0.2% lower than the year-ago reported figure.NextEra Energy, Inc. NEE reported third-quarter 2024 adjusted earnings of $1.03 per share, which beat the Zacks Consensus Estimate of 98 cents by 5.1%. The bottom line also improved nearly 12.8% year over year.  In the third quarter, NextEra Energy’s operating revenues were $7.56 billion, which lagged the Zacks Consensus Estimate of $8.45 billion by 10.5%. However, the top line improved 5.5% year over year.Avangrid, Inc. AGR reported third-quarter 2024 earnings of 55 cents per share, which surpassed the Zacks Consensus Estimate of 33 cents by 66.7%. The bottom line also increased 104% from the year-ago figure of 27 cents.Operating revenues amounted to $2.08 billion, which beat the Zacks Consensus Estimate of $2.01 billion by 3.7%. The top line also increased 5.5% from $1.97 billion reported in the comparable period of 2023.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NextEra Energy, Inc. (NEE): Free Stock Analysis Report CenterPoint Energy, Inc. (CNP): Free Stock Analysis Report Alliant Energy Corporation (LNT): Free Stock Analysis Report Avangrid, Inc. (AGR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks