Aug 1 (Reuters) - Utility firm Alliant Energy ( LNT )
missed Wall Street estimates for second-quarter profit on
Thursday, hurt by higher operating costs and weak cooling demand
earlier in the quarter.
Madison, Wisconsin-based Alliant serves roughly 1 million
electric and 425,000 natural gas customers in Iowa and
Wisconsin.
The company said it saw lower-than-normal heating degree
days, a measurement used by utilities to gauge power demand,
during the quarter, while its residential gas deliveries also
fell by 11.8%.
Alliant also saw a 9.9% increase in operating expenses
from a year ago, driven by an asset impairment charge for its
Interstate Power and Light Company units' Lansing power
generating station in Iowa.
It reaffirmed its full-year earnings forecast of $2.99 -
$3.13 per share.
The company reported adjusted earnings of 57 cents per
share, missing estimates of 64 cents per share, as per LSEG
data.