Alliant Energy Profit Falls; Lifts FY Earnings Guidance

(RTTNews) - Alliant Energy Corp (LNT), a utility holding company, Thursday reported third-quarter net earnings of $153.3 million or $1.38 per share compared with $157.6 million or $1.42 per share last year.

Revenues for the quarter were $843 million compared with $866.6 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $1.39 per share on revenues of $980.4 million for the quarter. Analysts' estimates typically exclude special items.

For the full year 2014, the company now expects earnings of $3.40 to $3.55 per share, from prior guidance of $3.25 to $3.55 per share. Analysts expect earnings of $3.45 per share.

The updated guidance reflects year-to-date positive impacts on sales caused by weather, the company said.

For 2015, the company projects earnings of $3.45 to $3.75 per share, while analysts expect $3.62 per share.

Alliant updated its projected capital expenditures for 2014 through 2018, which total $5.2 billion. This includes WPL's proposed 650 megawatt Riverside Energy Center expansion, which has an estimated total cost of $725 million to $775 million.

Further, Alliant Energy currently projects aggregate capital expenditures of $4.8 billion for 2019 through 2023, excluding allowance for funds used during construction and capitalized interest.

Also Alliant announced an 8% increase to its 2015 expected annual common stock dividend target of $2.20 per share. Payment of the 2015 quarterly dividend is subject to the actual dividend declaration by the Board, which is expected in January 2015 for the first quarter dividend.