Alliant Energy (LNT) Q1 2025 earnings summary

Executive summary

• Q1 2025 GAAP EPS was $0.83, up from $0.62 in Q1 2024, exceeding 25% of the annual earnings guidance midpoint despite mild or negative temperature impacts.

• Net income attributable to common shareowners rose to $213 million from $158 million, with revenues up to $1,128 million from $1,031 million year-over-year.

• Major progress in economic development with three fully executed data center ESAs totaling 2.1 GW, accelerating load growth and driving CapEx increases.

• Updated 2025–2028 CapEx plan increased by $600 million to $11.5 billion, reflecting a 26% rise over 18 months and an 11% investment CAGR.

• Focused on reliability, resiliency, and sustainable growth through balanced investments in natural gas, renewables, and storage.

Financial highlights

• Q1 2025 EPS: $0.83 vs. $0.62 in Q1 2024; growth driven by higher revenue from capital investments, increased customer load, and favorable tax impacts.

• Net income rose to $213 million and operating income to $257 million, both up year-over-year.

• Negative temperature impacts reduced electric and gas margins by $0.03 per share in Q1 2025.

• Higher depreciation and financing expenses partially offset gains.

• Utilities and Corporate Services EPS was $0.87, up $0.25 year-over-year; Non-utility and Parent EPS was $(0.08), down $0.04 year-over-year.

Outlook and guidance

• 2025 EPS guidance reaffirmed at $3.15–$3.25, assuming normal temperatures, stable economy, and execution of capital plans.

• Long-term EPS CAGR target remains 5–7%, with expectations to reach the top end of the range by 2027 due to elevated CapEx and strong load growth.

• Annual construction and acquisition expenditures planned at $2.5–$3.2 billion through 2028, focused on renewables, storage, and grid reliability.

• Regulatory decisions on major rate cases and project approvals anticipated by late 2025 and 2026.

• Consolidated effective tax rate forecasted at -28% for Q1 2025.