UPDATE: Alliant Energy Q1 Net Profit Drops 51%
Alliant Energy Corp (NYSE: LNT) reported a 51% drop in its first-quarter income.
Alliant's quarterly profit fell to $38.9 million, or $0.36 per share, from $79.7 million, or $0.65 per share, in the year-ago period. Excluding special items, Alliant's earnings from continuing operations came in at $0.50 per share.
Alliant's operating revenue declined 13% to $765.7 million. However, analysts were expecting earnings of $0.63 per share on revenue of $822 million.
Alliant's operating margin declined to 12.5% from 14.5%.
Alliant shares closed at $44.66 yesterday.
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