Sarah Patel's Avatar
published in Blogs
Nov 08, 2022
Alliant Energy (LNT, $52.72) posts -8.8% y/y drop in EPS, despite revenue's +10.8% climb

Alliant Energy (LNT, $52.72) posts -8.8% y/y drop in EPS, despite revenue's +10.8% climb

Alliant Energy Corporation reported third-quarter 2022 operating earnings of 93 cents, which is -8.8% lower  than the year-ago figure.

The company’s revenues climbed +10.8% year over year to $1,135 million in the quarter, on the back of its Electric and Gas operations growth. Retail electric and gas utility customers increased 0.8% and 0.7% year over year, respectively. Gas volumes sold and transported were up +16.7% year over year.

Total operating expenses in the quarter were +12.4% higher from the year-ago period.

 Alliant Energy boosted its 2022 earnings forecast to a range of $2.76 to $2.83, from prior outlook  of $2.67 to $2.81 per share. The hike in mid-point of the forecast is primarily due to the estimated temperature effects on retail electric and gas sales through the first three quarters of 2022. The company expects 2022 capital expenditure  to be $1,540 million, and $10,015 million for the 2022-2026 time horizon.

Related Tickers: LNT