Alliant Energy Q2 Earnings Lag Estimates, Revenues Increase Y/Y

LNT’s Revenues

Revenues totaled $971 million, missing the Zacks Consensus Estimate of $1.00 billion by 3.09%. However, the top line increased 1.04% from the year-ago quarter’s figure of $961 million.

LNT's Expense Trends & Sales Volumes

Total operating expenses were $786 million, up 6.5% from $738 million in the year-ago period. This was primarily due to higher costs of gas sold, increased operating and maintenance expenses, and higher depreciation, amortization and other expenses compared with the prior-year period.

Operating income totaled $185 million, down 17.04% from the year-ago reported figure.

Interest expenses amounted to $143 million, up 15.32% from the prior-year period.

LNT reported total utility electric sales of 7,546 thousand megawatt-hours, down 2.85% from the year-ago quarter’s reported figure.

Total utility gas sold and transported was 35,769 thousand dekatherms, up 7.50% year over year.

Alliant Energy's Financial Position and Cash Flow

As of June 30, 2026, cash and cash equivalents amounted to $25 million compared with $556 million as of Dec. 31, 2025. 

As of June 30, 2026, long-term debt (excluding the current portion) totaled $10.64 billion, down from $10.95 billion as of Dec. 31, 2025. 

Cash flow from operating activities in the first half of 2026 totaled $481 million compared with $492 million in the year-ago period.

Alliant Energy Reaffirms 2026 View

Alliant Energy reaffirmed its 2026 ongoing EPS guidance of $3.36-$3.46 and maintained its long-term EPS growth target of 5-7%, while projecting results at or above the high end of that range during 2027-2029. The Zacks Consensus Estimate for 2026 earnings is pegged at $3.43 per share, higher than the midpoint of the company’s guided range. 

The company projects retail electric sales growth of 2-3%, including data-center construction and commissioning demand.

It also expects operation and maintenance expenses to rise 3-5%, with the increase weighted toward the first half.

Alliant Energy's Capital Plan Supports Load Growth

The 2026 outlook assumes nearly $3 billion in capital expenditures, primarily weighted toward the second half of 2026. Average construction work in progress balances are expected to average $2 billion during 2026.

The company's four-year capital plan totals $13.4 billion for 2026-2029. Its $2.4 billion equity plan includes $1.8 billion of executed forward contracts and $100 million through its dividend reinvestment program, leaving $500 million to address.

The company signed an additional 370-megawatt electric service agreement in Iowa, with full demand expected by the end of 2030. This project will be included in the capital expenditure plan update accompanying third-quarter results.

Alliant Energy has 3.4 gigawatts of total contracted demand, supporting an expected 60% increase in projected demand by 2031 from 2025 levels. The company expects the load associated with its contracted projects to ramp from 2026 through 2031.

Google has energized transmission infrastructure and begun ramping toward contracted energy loads. Alliant Energy also amended its QTS 1 agreement to support an accelerated load ramp and received regulatory approval for Meta's individual customer rate in Wisconsin.

LNT’s Zacks Rank

Alliant Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Upcoming Releases

Pinnacle West Capital PNW is scheduled to report second-quarter results on Aug. 4, before the market opens. The Zacks Consensus Estimate for sales is pegged at $1.40 billion, which suggests a year-over-year increase of 3.08%.

PNW’s long-term (three to five years) earnings growth rate is 5.81%. The Zacks Consensus Estimate for 2026 sales is pinned at $5.56 billion, which implies a year-over-year improvement of 4.05%.

Consolidated Edison ED is slated to report second-quarter results on Aug. 6, after market close. The Zacks Consensus Estimate for earnings is pegged at 74 cents per share, which implies a year-over-year increase of 10.45%.

ED’s long-term earnings growth rate is 6.32%. The Zacks Consensus Estimate for 2026 earnings is pinned at $6.09 per share, which implies a year-over-year improvement of 6.84%.

PPL Corporation PPL is scheduled to report second-quarter results on Aug. 7, before the market opens. The Zacks Consensus Estimate for sales is pegged at 35 cents per share, which implies a year-over-year growth of 9.38%.

PPL’s long-term earnings growth rate is 7.52%. The Zacks Consensus Estimate for 2026 earnings is pinned at $1.94 per share, which implies a year-over-year improvement of 7.18%.

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