Yahoo Finance Alliant Energy (LNT) to Report Q1 Earnings: What's in Store?
Alliant Energy LNT is scheduled to release first-quarter 2024 results on May 2, after market close. The company delivered a negative earnings surprise of 12.7% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
The first quarter witnessed the start of electricity production from Alliant Energy's largest solar project in Iowa, which has a capacity of 4.5 megawatts (MW). A total of 50 MW of solar project in Iowa came online during the quarter. This is expected to have boosted earnings in the to-be-reported quarter.
Retirement of the last coal unit at Lansing is likely to have reduced the operation and maintenance costs of the company. This must have boosted margins in the first quarter. The company benefits from the economic development in its service territories, which is creating fresh demand.
However, the bottom line is likely to have been negatively impacted due to mild temperatures in its service regions. Higher depreciation expenses and financing costs might have also offset some positives.
Q1 Expectations
The Zacks Consensus Estimate for earnings is pegged at 66 cents per share, indicating a year-over-year improvement of 1.5%.
The Zacks Consensus Estimate for revenues is pinned at $1.17 billion, implying a year-over-year increase of 8.3%.
The Zacks Consensus Estimate for total utility electric sales retail is pinned at 6,235.3 thousand megawatt-hours (MWh), up 0.6% year over year. The consensus mark for total electricity delivered is pinned at 8,282.3 MWh, up 1.5% year over year.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Alliant Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below.
Alliant Energy Corporation Price and EPS Surprise
Alliant Energy Corporation price-eps-surprise | Alliant Energy Corporation Quote
Earnings ESP: The company’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Alliant Energy carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank stocks here.
Stocks to Consider
Investors may consider the following players from the same industry as these have the right combination of elements to post an earnings beat this reporting cycle.
AES Corporation AES is likely to come up with an earnings beat when it reports first-quarter earnings on May 2. It has an Earnings ESP of +6.67% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for AES’ first-quarter 2024 earnings has increased 7.1% in the past 60 days. The Zacks Consensus Estimate for first-quarter sales is pinned at $3.24 billion.
Ameren Corporation AEE is likely to come up with an earnings beat when it reports first-quarter earnings on May 2. It has an Earnings ESP of +0.30% and a Zacks Rank #3 at present.
AEE’s long-term (three to five years) earnings growth rate is 6.5%. The Zacks Consensus Estimate for first-quarter 2024 earnings has decreased 0.9% in the past 60 days.
NiSource NI is likely to come up with an earnings beat when it reports first-quarter 2024 earnings on May 8. It has an Earnings ESP of +1.24% and a Zacks Rank #3 at present.
NI’s long-term earnings growth rate is 6%. The Zacks Consensus Estimate for first-quarter 2024 earnings has increased 1.3% in the past 60 days.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Ameren Corporation (AEE) : Free Stock Analysis Report
NiSource, Inc (NI) : Free Stock Analysis Report
The AES Corporation (AES) : Free Stock Analysis Report
Alliant Energy Corporation (LNT) : Free Stock Analysis Report
