Alliant Energy warns of 4Q charges

AP News
Posted: Dec 09, 2009 12:12 PM

Utility company Alliant Energy Corp. on Wednesday warned that its fourth-quarter earnings will be cut by one-time regulatory charges related to two canceled plant projects.

These damages are expected to reduce profit for the quarter by 10 cents to 15 cents per share. Alliant said these charges are connected with the cancellation of the proposed Nelson Dewey No. 3 coal plant and Sutherland No. 4 plant.

Alliant said these one-time charges were not anticipated in October, when the company issued its full-year earnings outlook of $1.75 per share to $1.90 per share. Analysts, who typically exclude one-time items, expect a 2009 profit of $1.86 per share.

Shares of Alliant fell 7 cents to $29.45 in morning trading.