Alliant's Earnings Take a Tumble

Once these most recent quarterly results are finalized, they will be run through TheStreet.com Ratings' model and our ratings will be adjusted accordingly. To keep up to date on all of our ratings, visit TheStreet.com Ratings Screener. to be $1.31 billion.

On Feb. 5, 2009, Alliant Energy (LNT Quote) reported that its Q4 FY08 earnings plummeted 73.8% to $50.60 million or $0.46 per share from $193.20 million or $1.75 per share in Q4 FY07. Excluding $400,000 loss from discontinued operations, income from continuing operations slumped to $51.00 million or $0.46 per share from $198.30 million or $1.80 per share. The latest quarterly results missed the consensus estimate of $0.56 per share.

Total operating revenue inched up 1.2% to $882.00 million from $871.40 million in the year-ago period. While Electric revenue inched down 1.0% to $552.90 million, Gas revenue spiked 8.2% to $207.30 million. Similarly, other revenue surged 71.0% to $37.80 million, and non-regulated revenue descended 15.5% to $84.00 million. Looking at the metrics, total utility electric sales declined 6.3% to 7.83 million Megawatt hours (MWh) from 8.36 million mWh in the prior year's quarter. Moreover, total utility retail electric customers increased marginally to 978,114 from 977,321. Additionally, total utility gas sold and transported slipped 5.5% to 34.08 million dekatherms (Dth) from 32.31 million Dth, and the total number of utility retail gas customers at the end of Q4 FY08 edged up to 411,190 from 409,790 a year ago. ...