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.
For comments and feedback contact: editorial@rttnews.com
Business News