Alliant Energy Profit Declines

Alliant Energy (LNT Quote) said Tuesday that its third-quarter earnings fell 30% from the year-ago period, driven by the impact of weather and foreign-currency losses related to its New Zealand investments.

The company earned $78.8 million, or 67 cents a share, in the quarter, compared with $112.5 million, or 96 cents a share, a year ago. Analysts surveyed by Thomson First Call were expecting EPS of 99 cents.

Third-quarter revenue rose 1.9% from a year ago to $890.4 million, as against analysts' estimate of $877 million.

The company lowered its fiscal 2006 forecast for earnings from continuing operations, excluding the gain on the pending sale of Alliant Energy's New Zealand investments and debt-repayment premiums, to $2.20 to $2.30 a share from $2.25 to $2.45 a share. Analysts expect full-year earnings of $2.38 a share. ...