Alliant Energy Corporation (LNT) Friday reported a rise in earnings for the first quarter helped by improved operating revenue particularly from the electric and gas segments. Adjusted earnings per share from continuing operations beat analyst estimates. The company further reiterated the full-year earnings guidance.
For the quarter the firm posted net income of $80.1 million, up from $38.9 million last year. On a per share basis earnings totaled $0.63 versus $0.32 for the year earlier period.
On an adjusted basis, the company posted earnings per share from continuing operations of $0.72 and earnings per share of $0.69 for the quarter.
Seven analysts on average polled by Thomson Reuters estimated earnings per share of $0.61 for the period. Analysts estimates typically exclude one-time items.
The company clocked total operating revenue of $859.6 million for the quarter, up from $765.7 million last year. Analysts were looking for revenue of $765.36 million for the three months.
Looking forward, the firm backed its full-year earnings per share guidance of $2.95 to $3.25, assuming stable economy and utility sales improvement. Currently the Street is looking for earnings per share of $3.13 for the full-year.
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