Fourth quarter financial results were recently published by Madison-based biotech Exact Sciences, as well as Madison-based energy firms Alliant Energy and MGE.
Exact Sciences Corp. fourth-quarter performance surpassed analysts’ projections in spite of posting a loss. Renowned for its Cologuard colon cancer screening test, the company reported a fourth-quarter loss of $49.8 million, or 27 cents per share, on revenue totaling $646.9 million. This performance notably outpaced expectations, with analysts anticipating a loss of 53 cents per share and revenue of $631.9 million. The results mark a significant improvement compared to the previous year’s fourth quarter, where Exact Sciences posted a loss of $127.7 million. Despite challenges, such as a loss of $204.1 million for the fiscal year, the company projects optimism for 2024, with revenue forecasts ranging between $2.81 billion to $2.85 billion.
In contrast, Alliant Energy Corp. presented a mixed picture with its fourth-quarter earnings. While the utility company reported earnings of $121 million, or $0.47 per share, on revenue of $961 million, representing an increase from the previous year, it fell short of analysts’ expectations. Analysts had projected earnings of $0.55 per share, highlighting a variance in performance outlook. Notably, Alliant Energy’s full-year profit of $703 million reflects resilience amidst fluctuating market conditions. Looking ahead, the company anticipates full-year earnings in the range of $2.99 to $3.13 per share, signaling a continued focus on sustainable growth strategies.
Demonstrating a commitment to renewable energy investments through the completion of projects such as the Red Barn wind project and Badger Hollow II solar project, MGE Energy reported GAAP earnings of $117.7 million for the full year, showcasing a steady uptrend from the previous year. Despite challenges, including decreased gas retail therm deliveries attributed to warmer-than-normal weather, MGE Energy remained resilient, reporting earnings of $20.1 million for the fourth quarter of 2023.
