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Alliant Energy

Alliant Energy (LNT) Q1 2026 Earnings

Reported Apr 30, 2026 at 6:23 PM ET · SEC Source

Q1 26 EPS

$0.82

BEAT +3.96%

Est. $0.79

Q1 26 Revenue

$1.18B

BEAT +6.40%

Est. $1.11B

vs S&P Since Q1 26

-2.4%

TRAILING MARKET

LNT +1.1% vs S&P +3.5%

Market Reaction

Did LNT Beat Earnings? Q1 2026 Results

Alliant Energy posted a solid first quarter for 2026, with non-GAAP EPS of $0.82 edging past the $0.79 consensus estimate by 3.96%, while revenue of $1.18 billion beat expectations by 6.40% and rose 5.0% year over year from $1.13 billion. The top-lin… Read more Alliant Energy posted a solid first quarter for 2026, with non-GAAP EPS of $0.82 edging past the $0.79 consensus estimate by 3.96%, while revenue of $1.18 billion beat expectations by 6.40% and rose 5.0% year over year from $1.13 billion. The top-line strength was anchored by higher electric and gas utility revenues, though operating income dipped to $249.00 million from $257.00 million as increased depreciation, interest expense, and planned maintenance costs offset those gains. The more compelling headline, however, may be strategic: Alliant signed a new roughly 370 MW electric service agreement in Iowa for data center demand, lifting its total contracted data center load to approximately 3.4 GW across five agreements, a demand signal that analysts see as a meaningful long-term growth lever. Some observers have flagged a one-time tax benefit in the GAAP result as a potential earnings quality concern, though the company's reaffirmed 2026 ongoing EPS guidance range of $3.36 to $3.46 per share suggests management views the underlying business as firmly on track.

Key Takeaways

  • • Higher revenue requirements from increasing rate base at IPL ($0.05/share) and WPL ($0.10/share), including investments in generation and energy storage
  • • Higher allowance for funds used during construction ($30M vs $18M YoY)
  • • Non-GAAP adjustment of $0.05/share benefit from remeasurement of deferred tax assets
  • • Increased equity income from unconsolidated investments ($22M vs $13M)
  • • Warmer-than-normal temperatures reduced retail electric and gas sales by estimated $0.04/share

LNT Forward Guidance & Outlook

Alliant Energy reaffirmed its 2026 consolidated ongoing EPS guidance range of $3.36 to $3.46 per diluted share. Key assumptions include the ability of IPL and WPL to earn their authorized rates of return, normal temperatures, a stable economy, execution of capital expenditure plans including targeted in-service dates, execution of cost controls and financing plans, and a consolidated effective tax rate of negative 29%. The company noted it delivered approximately 25% of its guidance midpoint in Q1 2026.

24/7 Wall St

LNT YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

24/7 Wall St

LNT Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q1 26

“We are off to a strong start in 2026, delivering approximately 25% of our ongoing earnings guidance midpoint, and reaffirming our full-year ongoing EPS outlook.”

— Lisa Barton, Q1 2026 Earnings Press Release

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