Alliant Energy Q4 profit up, sees strong 2010 earnings
Utility company Alliant Energy Corp (LNT.N) reported a rise in fourth-quarter profit, helped a drop in operating expenses and improving weather conditions.
Source:chemnet Time:08 Feb 2010
Feb 4 - Utility company Alliant Energy Corp (LNT.N) reported a rise in fourth-quarter profit, helped a drop in operating expenses and improving weather conditions.
"With normal weather and new retail electric rates in both Iowa and Wisconsin, we expect a brighter financial picture in 2010," the company said in a statement.
Alliant Energy forecast 2010 profit of between $2.45 and $2.75 per share, compared with analysts estimates of a profit of $2.53 a share.
For the latest fourth quarter, the company earned $53.6 million, or 49 cents a share, compared with $50.6 million, or 46 cents a share, a year ago.
Operating revenue, however, fell 3 percent to $854.9 million, while operating expenses were down 5 percent for the quarter.
Analysts were looking for earnings of 45 cents a share, on revenue of $853 million, according to Thomson Reuters I/B/E/S.
Shares of the company closed at $31.44 Wednesday on the New York Stock Exchange.
"With normal weather and new retail electric rates in both Iowa and Wisconsin, we expect a brighter financial picture in 2010," the company said in a statement.
Alliant Energy forecast 2010 profit of between $2.45 and $2.75 per share, compared with analysts estimates of a profit of $2.53 a share.
For the latest fourth quarter, the company earned $53.6 million, or 49 cents a share, compared with $50.6 million, or 46 cents a share, a year ago.
Operating revenue, however, fell 3 percent to $854.9 million, while operating expenses were down 5 percent for the quarter.
Analysts were looking for earnings of 45 cents a share, on revenue of $853 million, according to Thomson Reuters I/B/E/S.
Shares of the company closed at $31.44 Wednesday on the New York Stock Exchange.