Alliant Energy Corporation (LNT) has reported 78.14 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $65.20 million, or $0.28 a share in the quarter, compared with $36.60 million, or $0.15 a share for the same period last year.
Revenue during the quarter grew 7.69 percent to $797 million from $740.10 million in the previous year period. Gross margin for the quarter contracted 92 basis points over the previous year period to 48.56 percent. Total expenses were 87.47 percent of quarterly revenues, down from 89.30 percent for the same period last year. This has led to an improvement of 183 basis points in operating margin to 12.53 percent.
Operating income for the quarter was $99.90 million, compared with $79.20 million in the previous year period.
"In 2016, we once again delivered solid financial and operational results," said Patricia Kampling, Alliant Energy chairman, president and chief executive officer. "Consistent with our long-term earnings growth goal, our temperature normalized non-GAAP earnings per share increased by 5% over calendar year 2015. We will continue to balance operational and financial discipline, cost impact to customers and capital investments while earning our authorized returns."
For financial year 2017, the company forecasts diluted earnings per share to be in the range of $1.92 to $2.06.
Operating cash flow falls marginallyAlliant Energy Corporation has generated cash of $859.60 million from operating activities during the year, down 1.33 percent or $11.60 million, when compared with the last year. The company has spent $1,186.50 million cash to meet investing activities during the year as against cash outgo of $919.20 million in the last year.
Cash flow from financing activities was $329.30 million for the year as against cash outgo of $3.10 million in the last year period.
Cash and cash equivalents stood at $8.20 million as on Dec. 31, 2016, up 41.38 percent or $2.40 million from $5.80 million on Dec. 31, 2015.
Working capital remains negative
Working capital of Alliant Energy Corporation was negative $284.90 million on Dec. 31, 2016 compared with negative $532.50 million on Dec. 31, 2015. Current ratio was at 0.75 as on Dec. 31, 2016, up from 0.61 on Dec. 31, 2015.
Debt moves upAlliant Energy Corporation has witnessed an increase in total debt over the last one year. It stood at $4,564.30 million as on Dec. 31, 2016, up 14.24 percent or $568.90 million from $3,995.40 million on Dec. 31, 2015. Total debt was 34.13 percent of total assets as on Dec. 31, 2016, compared with 31.98 percent on Dec. 31, 2015. Debt to equity ratio was at 1.12 as on Dec. 31, 2016, up from 1.02 as on Dec. 31, 2015. Interest coverage ratio improved to 1.94 for the quarter from 1.66 for the same period last year. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]
