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Alliant Energy profit jumps 50 percent in the fourth quarter of 2017

Alliant Energy profit jumps 50 percent in the fourth quarter of 2017

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Alliant's Franklin County wind farm (copy)

The Franklin County wind farm in Iowa, pictured here, is owned by Alliant Energy Corp. Alliant reported a sharp jump in profits in 2017.

Alliant Energy Corp. says rate increases put into effect in 2017 for its utility companies in Wisconsin and Iowa helped boost its results for the year.

The Madison utility company reported a $93.8 million profit for the fourth quarter of 2017, or 41 cents a share, on $856.1 million in revenue, up from a $62.7 million profit, or 28 cents a share, on $797 million in revenue for the 2016 fourth quarter.

For the full year, Alliant had net income of $457.3 million, or $1.99 a share, on $3.38 billion in revenue compared with net income of $371.5 million, or $1.64 a share, on $3.32 billion in revenue for 2016.

Alliant stock closed at $39.42 on Friday, up 82 cents, or 2.1 percent from the day before. 

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