Alliant Energy Corporation has reported fourth-quarter 2023 operating earnings of forty-eight cents per share. The bottom line improved 4.3 percent from the year-ago quarter’s figure of forty-six cents.
Full-year 2023 earnings came in at $2.82 per share, up 0.7 percent from the previous year’s level of $2.80. Revenues totaled $961 million, which missed the Zacks Consensus Estimate of $1.3 billion by 23.1 percent. The top line also decreased 9.2 percent from the year-ago quarter’s level of $1.1 billion. Full-year 2023 revenues came in at $4 billion, down 4.2 percent from the previous year’s level of $4.2 billion.
Total operating expenses were $778 million for the quarter, down 13.5 percent from $899 million in the year-ago period. This was due to lower electric production fuel and purchased power, and reduced cost of gas sold. Operating income totaled $183 million, up 15.1 percent from $159 million reported in the year-ago quarter.
The company’s retail electric customers and retail gas customers increased 0.6 percent each, year over year. The company reported total utility electric sales of 7,612 thousand megawatt-hours, up 0.8 percent from the year-ago quarter’s reported figure. Total utility gas sold and transported were 41,520 thousand of dekatherms, up 5.6 percent year over year.
Alliant Energy expects its 2024 earnings to be in the band of $2.99-$3.13 per share. The projection takes into account the normal temperature in its service territories, execution of cost controls and the consolidated effective tax rate of seven percent.
