ALLIANT ENERGY (LNT) Company Report

Alliant reported third-quarter ongoing EPS of $1.12, representing over 80% of the midpoint of its 2025 guidance, driven by higher rate base revenue and favorable temperatures; year-to-date weather added ~$0.02 per share, versus a $0.10 per-share drag in 2024.
The company narrowed 2025 earnings guidance to $3.17–$3.23 per share and initiated 2026 guidance of $3.36–$3.46, a 6.6% increase over the 2025 midpoint; the dividend target rose to $2.14, up 5.4%.
Capex was raised 17% to $13.4 billion through 2029, supporting a 12% rate-base CAGR and including completion of 175 MW of storage and advanced gas-path upgrades; contracted data-center demand sits at 3 GW (50% peak growth by 2030) with 2–4 GW more in active pipeline.
In Q3, Alliant refinanced $300 million of IPL debt and issued $725 million of parent-company junior subordinated notes; through 2029 it plans to raise $2.4 billion equity and up to $1.1 billion of debt in 2026 to maintain a 40–45% consolidated equity ratio.
Regulators approved new data-center rates in Iowa and a 2026–27 rate settlement in Wisconsin; pending dockets include wind-farm refurbishment, LNG storage, and wind-expansion projects to secure customer tax benefits.

Nov 7, 2025, 3:00 PM

Transcript

Alliant Energy reports Q3 2025 earnings

LNT

Earnings

Guidance Update

Dividends

Q3 2025 ongoing EPS of $1.12, down from $1.15 in Q3 2024.
Nine-month ongoing EPS of $2.62, up from $2.33 year-over-year.
2026 EPS guidance of $3.36–$3.46 (midpoint $3.41), a 6.6% increase over 2025 guidance.
2026 dividend target of $2.14 per share, a 5.4% increase over 2025, with a 60–70% payout target.
Four-year CapEx plan of $13.4 billion (2026–2029), funded by 34% cash from operations, 36% new debt, 18% equity and 12% tax credit monetization.

Nov 7, 2025, 3:00 PM

Presentation

Alliant Energy reports Q3 2025 results and updates guidance

LNT

Earnings

Guidance Update

New Projects/Investments

Alliant delivered Q3 ongoing EPS of $1.12, achieving over 80% of the 2025 midpoint guidance.
2025 earnings guidance narrowed to $3.17–$3.23 per share; 2026 guidance set at $3.36–$3.46 (6.6% growth) and dividend raised to $2.14 per share.
Four-year capex plan increased 17% to $13.4 billion, driving a 12% CAGR in rate base plus CWIP, alongside contracted 3 GW of data center load (50% peak growth by 2030) with 2–4 GW additional pipeline.
Q3 financing included refinancing $300 million of utility debt and issuing $725 million of junior subordinated notes; 2026–2029 plan calls for $2.4 billion equity and up to $1.1 billion new debt.

Nov 7, 2025, 3:00 PM

Transcript

Alliant Energy reports Q3 2025 results

LNT

Earnings

Guidance Update

New Projects/Investments

Alliant Energy delivered Q3 ongoing EPS of $1.12, achieved over 80% of its 2025 guidance midpoint, narrowed full-year 2025 ongoing earnings guidance to $3.17–$3.23/share, and initiated 2026 guidance of $3.36–$3.46/share (6.6% growth) with a 5.4% dividend increase to $2.14/share.
The company raised its four-year capital expenditure plan by 17% to $13.4 billion, targeting a 12% CAGR in rate base plus CWIP (2025–2029), and completed 175 MW of energy storage and advanced gas path upgrades to boost generation efficiency.
Alliant has secured 3 GW of contracted data center demand (50% peak load growth by 2030), with three of four projects under construction, and is actively negotiating an additional 2–4 GW pipeline to further accelerate load growth.

Nov 7, 2025, 3:00 PM

Transcript

Alliant Energy reports Q3 2025 results and updates 2026 guidance

LNT

Earnings

Guidance Update

New Projects/Investments

Q3 GAAP EPS of $1.09 and ongoing EPS of $1.12, down from $1.15 in Q3 2024.
Year-to-date EPS of $2.59 and ongoing EPS of $2.62 through September 30, up from $2.10 and $2.33 in 2024.
Narrowed 2025 ongoing EPS guidance to $3.17–$3.23 per share based on strong first nine months performance.
2026 guidance of $3.36–$3.46 EPS (6.6% growth) and a $2.14 annual dividend target (5.4% increase).
Contracted data center demand increased to 3 GW (projected 50% peak load growth by 2030) and 2026–2029 capital expenditures raised to $13.4 billion.

Nov 6, 2025, 11:00 PM

Press Release

Alliant Energy subsidiary prices $300M debentures due 2055

LNT

Debt Issuance

Interstate Power and Light Company, a wholly owned subsidiary of Alliant Energy Corporation (NASDAQ: LNT), priced $300 million of 5.600% senior debentures due October 1, 2055 in a public offering.
Proceeds are earmarked to reduce outstanding capital under its receivables purchase and sale program, lower commercial paper balances, and/or fund general corporate purposes.
The offering is structured under an existing indenture dated August 20, 2003, with the debt securities registered on an automatic shelf registration (Form S-3, Reg. No. 333-276062-01).
Underwriters include KeyBanc Capital Markets, PNC Capital Markets, TD Securities (USA) and U.S. Bancorp Investments as joint book-running managers, with Academy Securities and Comerica Securities as co-managers; closing is expected September 11, 2025.

Sep 11, 2025, 1:34 AM

8-K

Alliant Energy reports Q2 2025 earnings

LNT

Earnings

Guidance Update

Alliant Energy delivered GAAP EPS of $0.68, up from $0.34 in Q2 2024, and non-GAAP EPS of $0.68 versus $0.57 a year ago.
Second-quarter net income rose to $174 million from $87 million in Q2 2024.
The $0.34 per-share EPS improvement was driven by $0.23 from prior-year non-GAAP adjustments and $0.19 from higher revenue requirements, partially offset by $0.06 of additional depreciation and $0.05 of financing expense.
The company reaffirmed its 2025 ongoing EPS guidance at $3.15–$3.25 per share.

Aug 8, 2025, 12:00 AM

8-K

Alliant Energy: $600M Senior Debenture Offering Priced

LNT

Debt Issuance

Interstate Power and Light Company announced the pricing of a $600 million Senior Debenture Offer with a coupon rate of 5.600%, maturing in 2035.
The net proceeds will be used to retire existing debentures and manage outstanding capital, with the transaction set to close on May 19, 2025.
The offering was executed under an underwriting agreement involving major financial institutions, including BofA Securities, Mizuho Securities USA, MUFG Securities Americas, and Wells Fargo Securities.

May 19, 2025, 12:00 AM

8-K

Alliant Energy Completes Convertible Notes Offering

LNT

Debt Issuance

Alliant Energy announced a convertible senior notes offering of $500 million with an option for an additional $75 million, aimed at repaying debt, refinancing, or general corporate purposes.
The convertible notes bear a fixed interest rate of 3.250% per year, mature on May 30, 2028, and are convertible at a rate of 13.1773 shares per $1,000 principal (approximately $75.89 per share).
The transaction was completed on May 15, 2025, with a total issuance of $575 million after the full exercise of the additional option.

May 15, 2025, 12:00 AM

8-K

Alliant Energy Reports Q1 2025 Results: Earnings, CapEx & Data Center Expansion

LNT

Earnings

New Projects/Investments

Guidance Update

Earnings Improvement: Q1 2025 EPS increased to $0.83 from $0.62 in Q1 2024 with full-year EPS guidance reaffirmed at $3.15–$3.25 per share
Capital Expenditure Update: Updated CapEx plan features an additional $600 million increase (26% rise) and a total of $11.5 billion in investments through 2028 to support future growth, renewables, and resource expansion, with a forecasted investment CAGR near 11%
Data Center Expansion: Finalized three data center agreements totaling 2.1 GW of demand, driving over a 30% increase in peak load and bolstering economic growth in Iowa and Wisconsin

May 9, 2025, 2:01 PM

Transcript Presentation 8-K

Earnings Transcripts

Quarterly earnings call transcripts for ALLIANT ENERGY.

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