Q2 26 EPS
$0.65
BEAT +9.21%
Est. $0.60
Q2 26 Revenue
$971.0M
BEAT +11.40%
Est. $871.6M
vs S&P Since Q2 26
-4.8%
TRAILING MARKET
LNT -1.4% vs S&P +3.5%
Market Reaction
Did LNT Beat Earnings? Q2 2026 Results
Alliant Energy delivered a stronger-than-expected second quarter, with earnings per share of $0.65 beating the $0.60 Wall Street consensus by 9.21% and revenue of $971.00 million clearing estimates by 11.40%, even as both metrics slipped modestly fro… Read more Alliant Energy delivered a stronger-than-expected second quarter, with earnings per share of $0.65 beating the $0.60 Wall Street consensus by 9.21% and revenue of $971.00 million clearing estimates by 11.40%, even as both metrics slipped modestly from a year ago when EPS was $0.68 and revenue was $961.00 million. The primary engine behind the beat was higher revenue requirements stemming from a growing rate base at both Iowa utility IPL and Wisconsin utility WPL, each contributing $0.09 per share, alongside rising equity earnings from corporate venture investments and stronger temperature-normalized retail electric and gas sales. Those gains were partially offset by a meaningful jump in operating expenses, including other O&M costs that rose to $175.00 million from $143.00 million and depreciation climbing to $220.00 million from $208.00 million. Ahead of the print, some analysts had flagged higher financing costs as a potential headwind, a concern that proved valid but manageable. Management reaffirmed its 2026 EPS guidance of $3.36 to $3.46, noting results are tracking toward the upper half of that range, with data center construction and a projected 60% load growth by 2031 providing a durable long-term demand backdrop.
Key Takeaways
- • Higher revenue requirements from increasing rate base at IPL ($0.09/share) and WPL ($0.09/share)
- • Investments in generation and energy storage
- • Higher equity earnings from corporate venture investments
- • Higher temperature-normalized retail electric and gas sales
- • Unfavorable temperature impacts on retail electric and gas sales estimated at ($0.03)/share
- • Higher other operating and maintenance expense primarily related to labor and planned maintenance
- • Higher financing and depreciation expenses
LNT Forward Guidance & Outlook
Alliant Energy reaffirmed its 2026 consolidated ongoing EPS guidance range of $3.36 to $3.46 per diluted share, indicating results are currently trending in the upper half of the range. The company expects 60% load growth by 2031, with large customer load expected to materialize as forecasted in 2026. Key guidance assumptions include the ability of IPL and WPL to earn authorized rates of return, normal temperatures, stable economic conditions, execution of capital expenditure and financing plans, and a consolidated effective tax rate of (35%).
LNT YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
LNT Revenue by Segment
With YoY comparisons, source: SEC Filings
“We delivered another solid quarter of operating and financial performance and our full-year forecasted results are currently trending in the upper half of our full-year ongoing earnings guidance range.”
— Lisa Barton, Q2 2026 Earnings Press Release
LNT Earnings Trends
LNT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
LNT EPS Trend
Earnings per share: estimate vs actual
LNT Revenue Trend
Quarterly revenue: estimate vs actual
LNT Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $0.60 | $0.65 | +9.21% | $971.0M | +11.40% |
| Q1 26 BEAT | $0.79 | $0.82 | +3.96% | $1.18B | +6.40% |
| Q4 25 BEAT FY | $0.58 | $0.60 | +2.67% | $1.06B | +19.12% |
| FY Full Year | — | $3.22 | — | $4.36B | — |
| Q3 25 MISS | $1.19 | $1.12 | -5.80% | $1.21B | -8.85% |
| Q2 25 BEAT | $0.64 | $0.68 | +6.00% | $961.0M | +4.81% |