Alliant Energy Corp (LNT) has reported 3.94 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $103 million, or $0.44 a share in the quarter, compared with $99.10 million, or $0.43 a share for the same period last year. Revenue during the quarter went up marginally by 1.20 percent to $853.90 million from $843.80 million in the previous year period. Gross margin for the quarter contracted 22 basis points over the previous year period to 47.89 percent. Total expenses were 83.27 percent of quarterly revenues, up from 82.71 percent for the same period last year. That has resulted in a contraction of 56 basis points in operating margin to 16.73 percent.
Operating income for the quarter was $142.90 million, compared with $145.90 million in the previous year period.
"First quarter 2017 temperatures, as measured by heating degree days, were approximately 13% warmer than normal in our service territories resulting in $0.04 per share of lower earnings,” said Patricia Kampling, Alliant Energy chairman, president and chief executive officer. "With the exception of the mild weather, results were in-line with our expectations allowing us to reaffirm our 2017 earnings guidance."
For fiscal year 2017, the company expects diluted earnings per share to be in the range of $1.92 to $2.06.
Operating cash flow improves significantlyAlliant Energy Corp has generated cash of $333.70 million from operating activities during the quarter, up 46.17 percent or $105.40 million, when compared with the last year period. The company has spent $303.60 million cash to meet investing activities during the quarter as against cash outgo of $220 million in the last year period.
The company has spent $29.90 million cash to carry out financing activities during the quarter as against cash outgo of $9.30 million in the last year period.
Cash and cash equivalents stood at $8.40 million as on Mar. 31, 2017, up 75 percent or $3.60 million from $4.80 million on Mar. 31, 2016.
Debt moves up
Alliant Energy Corp has witnessed an increase in total debt over the last one year. It stood at $4,623.50 million as on Mar. 31, 2017, up 14.17 percent or $574 million from $4,049.50 million on Mar. 31, 2016. Total debt was 34.34 percent of total assets as on Mar. 31, 2017, compared with 32.31 percent on Mar. 31, 2016. Debt to equity ratio was at 1.13 as on Mar. 31, 2017, up from 1.02 as on Mar. 31, 2016. Interest coverage ratio deteriorated to 2.73 for the quarter from 3.04 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: editor@irisindia.net
