Alliant Energy narrows 2026 forecast, sets 2027 profit outlook

Alliant Energy Corp. (LNT) said on Oct. 29 in an 8-K filing that third-quarter GAAP earnings per share were $1.52, up from $1.09 a year earlier. The company also narrowed its 2026 ongoing EPS guidance and set a 2027 outlook.

Shares rose 1.6% in regular trading as of 9:34 a.m. ET, from a regular-session close of $70.68.

Alliant is the parent of two public utility companies, Interstate Power and Light Company and Wisconsin Power and Light Company, and of Alliant Energy Finance, LLC, the parent of its non-utility operations. Its utilities serve about 1,015,000 electric and 435,000 natural gas customers in the Midwest.

Here's how the company did:

• GAAP EPS: $1.52 vs. $1.09 a year earlier
• Revenue: $1,285 million vs. $1,210 million a year earlier
• Net income attributable to common shareowners: $398 million vs. $281 million a year earlier
• Nine-month GAAP EPS: $3.04, up 17% from $2.59

Ongoing EPS for the first nine months was $2.99, up 14% from $2.62 a year earlier. The company said its nine-month GAAP figure included a $0.05 per-share benefit from remeasuring deferred tax assets, which ongoing results exclude.

Electric utility revenue was $1,202 million in the quarter, up from $1,124 million a year earlier. Gas utility revenue was $56 million, compared with $51 million.

Segment results

Interstate Power and Light, the company's Iowa utility, contributed $0.96 per share, up from $0.64 a year earlier. Wisconsin Power and Light contributed $0.60, up from $0.48.

ATC Holdings contributed $0.05 per share, compared with $0.04. The non-utility and parent segment posted a loss of $0.11 per share, against a loss of $0.08 a year earlier.

The company said the quarter's main drivers were the timing of income tax expense and higher revenue requirements from growing rate base at IPL and WPL, worth $0.05 and $0.12 per share respectively. Higher equity earnings from corporate venture investments and higher allowance for funds used during construction also helped.

These gains were offset by higher other operation and maintenance expense, mainly labor and planned maintenance on electric distribution and generation. Higher financing and depreciation expenses also weighed. The company said the income tax timing variances will reverse by the end of the year.

The company estimated that temperatures added $0.05 per share to third-quarter 2026 electric and gas sales, compared with $0.03 per share in the same quarter of 2025.

2026 guidance

The company narrowed its 2026 ongoing EPS guidance to $3.41 to $3.46 per share. The previous range, given on July 30, was $3.36 to $3.46.

Drivers of the 2026 forecast include IPL and WPL earning their authorized rates of return, normal temperatures in their service territories, and execution of capital expenditure plans, including targeted in-service dates.

President and CEO Lisa Barton said: "We delivered another solid quarter of operating performance and our full-year earnings expectation has been narrowed to within the top half of the original 2026 ongoing EPS guidance range."

2027 outlook and dividend

The company set 2027 ongoing EPS guidance of $3.63 to $3.73 per share. At the midpoint, that represents 8% growth over the midpoint of its original 2026 ongoing EPS guidance.

The 2027 outlook assumes the company realizes expected revenues from new data center demand, along with normal temperatures and cost controls.

The company set a 2027 annual common stock dividend target of $2.25 per share, compared with a current annual target of $2.14 per share. The quarterly rate is now $0.535 per share.

The first-quarter 2027 dividend is expected to be declared in January 2027, subject to approval by the Board of Directors.

Capital spending

The company raised its 2026 through 2030 capital expenditure forecast by 19% to $15.9 billion, to meet growing demand.

IPL and WPL have 3.4 gigawatts of contracted demand from data centers. The company expects peak demand to increase about 60% by 2031.

The company will hold a conference call on Oct. 30 at 9 a.m. Central Time. President and CEO Lisa Barton and Executive Vice President and CFO Robert Durian will host it. A webcast will be available on the company's investor website.