Alliant’s earnings, revenues rise

Alliant Energy on Friday reported higher third-quarter earnings and revenues as it reduced its workforce through a voluntary severance program.

The Madison, Wis.,-based corporate parent of Interstate Power and Light in Cedar Rapids recorded a $4.7 million charge, or 4 cents per share, to reflect the voluntary employee separation program, which reduced the company's workforce by about 2 percent.

Justin Foss, an Alliant Energy spokesman, said the workforce reduction affected 76 primarily office positions - 45 in Iowa and 31 in Wisconsin. Foss said a small number of field employees accepted the voluntary severance offer, which was announced in September.

'With Alliant Energy's continued focus to keep costs manageable for its customers, it is reshaping the organization to be leaner,” the company said in its third-quarter earnings news release.

Alliant Energy posted third-quarter net income of $179.9 million, or $1.59 a share, up 17 percent from $153.3 million, or $1.38 per share, in the same quarter of 2014.

Operating revenues were $898.9 million in the third quarter of 2015, up from $843.1 million in the same quarter last year.

Alliant Energy topped analysts earnings projections by 8 cents per share, but missed revenue estimates by $191.1 million, according to Thomson Reuters.

Although the company beat analysts' quarterly earnings projections, it reduced its full-year earnings-per-share guidance range.

'With the third quarter behind us, we are narrowing 2015 adjusted earnings per share guidance to a midpoint of $3.57,” Patricia Kampling, Alliant Energy chairwoman, president and CEO, said in a conference call Friday with analysts,

'This midpoint reflects a 3 cents per share loss from reserves for the anticipated change to American Transmission Co.'s authorized return on equity.”

American Transmission is a power-line utility that Alliant Energy co-owns with WEC Energy Group Inc. and other utilities.