Alliant Energy earnings dip slightly

Blame it on the weather.

Alliant Energy Corp. announced second quarter earnings on Friday of 59 cents per share, based on generally accepted accounting principles, or $65.3 million. This was a 1 cent decrease over second quarter 2012, when the company saw earnings of 60 cents per share or $65. 9 million.

Revenue rose to $718 million in second quarter 2013, from $690 million in second quarter 2012, beating analysts' expectations of $683.06 million.

The company said weather affected electric and gas sales in the second quarter, estimating only a 2 cent per share increase in electric and gas margins.  By comparison, the net effect of the unseasonably warm weather in 2012 was estimated to be a 6 cent per share net increase in electric and gas margins.

Utility and corporate services operations generated 52 cents per share of non-GAAP earnings per share from continuing operations in the second quarter of 2013, which was 5 cents per share higher than the second quarter of 2012, Alliant said.

The quarter-over-quarter increase in earnings was primarily due to lower purchased power capacity costs related to the Riverside Energy Center, which Wisconsin Power and Light Co. purchased in December 2012.

Madison-based Alliant Energy provides electricity and natural gas to more than 1.4 million customers in Iowa, Minnesota and Wisconsin.