Alliant Energy (LNT) Q2 2026 earnings summary

Executive summary

• Q2 2026 GAAP EPS was $0.65, with ongoing EPS guidance for 2026 reaffirmed at $3.36–$3.46 per share, trending toward the upper half of the range.

• Net income attributable to common shareowners was $170 million for Q2 2026, down from $174 million in Q2 2025; six-month net income was $394 million, up from $387 million in the prior year.

• Major electric service agreements with Google, QTS, and Meta support a projected 60% demand increase by 2031, with significant construction progress on three data centers.

• $13.4 billion capital expenditure plan for 2026–2029 underway, with a 12% investment CAGR and $2.4 billion equity supporting the plan; about $0.5 billion equity remains to be raised through 2029.

• Emphasized disciplined execution, regulatory alignment, and community collaboration to ensure growth benefits all stakeholders.

Financial highlights

• Q2 2026 GAAP EPS was $0.65 (Q2 2025: $0.68); net income was $170 million (Q2 2025: $174 million); total revenues for Q2 2026 were $971 million (Q2 2025: $961 million).

• Ongoing earnings growth driven by higher revenue requirements from capital investments, increased equity earnings, and higher normalized retail sales.

• Milder temperatures reduced Q2 electric and gas margins by $0.03 per share year-over-year.

• Excluding temperature impacts, Q2 electric sales rose ~3% year-over-year, led by Wisconsin commercial and industrial sectors.

• Higher O&M, financing, and depreciation expenses offset revenue gains; non-utility and parent net income increased due to venture investments and tax timing.

Outlook and guidance

• 2026 ongoing EPS guidance reaffirmed at $3.36–$3.46 per share, trending toward the upper half; expects compound annual earnings growth of 7%+ from 2027 to 2029.

• 2026 dividend target is $2.14 per share.

• Forecasted 2026 capital expenditures of ~$3 billion, weighted toward the second half of the year.

• Retail electric sales growth of 2–3% expected, driven by data center construction and commissioning.

• Regulatory approvals for major generation and storage projects are pending, with decisions expected in late 2026 and 2027.