Skip to content
AnalystLens

Alliant EnergyLNT

Legal name
Alliant Energy Corp.
Sector
Energy
Industry
Electric & Other Services Combined
Exchange
Nasdaq

Stock Price $LNT

Latest filings

You are here#31 of 31 in Utilities by market cap

Filing record · 2016–202610-K1110-Q338-K136

LNT filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 136 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · May ’17May ’17
  2. Leadership change8-K · Dec ’19Dec ’19
  3. Material agreement8-K · Mar ’22Mar ’22
  4. Leadership change8-K · Jan ’26Jan ’26

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  18. $4.36B
YoY changeLargest recent move+14.6%in FY22Latest +9.6%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All LNT Financial Metrics53 metrics

Income Statement13

Balance Sheet22

Cash Flow13

Per Share5

02—Overview

Alliant Energy Financial Overview 2021–2025

Updated Nov 4, 2026

Alliant Energy's FY2025 net income jumped 17.4% to $810 milliona, from $690 million in FY2024, yet the company is financing that growth with a balance sheet that keeps getting heavier. That is the central tension: earnings are rising on rate base investment, but leverage and equity issuance are rising with them. Debt-to-total-capitalization stood at 62% at year-end FY2025, against a 65% covenant ceiling.

Over the long arc, diluted EPS grew from $2.63 in FY2021 to $3.14b in FY2025, with a dip to $2.69 in FY2024 after a $60 million Lansing plant charge. Long-term debt, net, climbed from $8.68 billion at the end of FY2024 to $10.95 billion at the end of FY2025. Revenue reached $4.36 billion in FY2025, up from $3.98 billion. Interest expense had already risen to $449 million in FY2024 from $394 million. The dividend target moves to $2.14 for 2026, and the company plans up to $2.4 billion of common stock issuance from 2026 through 2029.

The growth case rests on data centers. Executed agreements now cover roughly 3 gigawatts of peak demand, and planned capital spending is about $13 billionc over four years. At the close of FY2025, the stock traded at $65.01, or 20.7x earnings, for a market cap of $16.7 billion. That multiple prices in execution on the build-out, funded by debt and new shares.

Recent Developments (Q2 and Q3 2026)

Q2 was soft, then Q3 reversed it. Q2 2026 diluted EPS slipped to $0.65d from $0.68 as operating income fell to $185 million from $223 million and interest expense rose to $143 million from $124 million. Q3 2026 EPS jumped to $1.52 from $1.09, lifting nine-month EPS to $3.04. Management narrowed 2026 ongoing EPS guidance to $3.41–$3.46 and set 2027 guidance at $3.63–$3.73. Contracted data center demand reached 3.4 gigawatts, and the four-year capital plan rose 19% to $15.9 billion. In October 2026, IPL and WPL secured DOE loan guarantees of up to $3.5 billion and $1.6 billion. The 2027 dividend target rises to $2.25.

Bull case: earnings are accelerating, guidance is rising, and cheap federal-backed debt eases funding strain. Bear case: debt reached $12.56 billion, equity issuance plans grew to $2.7 billione through 2030, and the stock sat at 22.8x earnings as of the Q3 2026 report date (October 29, 2026), not today.

What to watch: Decision on IPL's 1,200 MW gas plant, expected Q2 2027; pace of DOE-backed borrowing and equity issuance

03—Filings

Recent SEC Filings

  1. 8-KAlliant Energy 8-K Report, Financial Results (Oct 30, 2026)Alliant Energy Corporation (NASDAQ: LNT) reported unaudited GAAP earnings per share of $1.52 for the third quarter of 2026, compared with $1.09 for the third quarter of 2025. For the first nine months of 2026, GAAP EPS was $3.04, up 17% from $2.59, and ongoing EPS was $2.99, up 14% from $2.62. The company narrowed its 2026 ongoing EPS guidance to $3.41 to $3.46 from $3.36 to $3.46, which it describes as the top half of the original range. The filing furnishes the third-quarter earnings press release (Exhibit 99.1), which also covers the company's 2027 outlook. For 2027, the company issued ongoing EPS guidance of $3.63 to $3.73 and set an annual common stock dividend target of $2.25 per share, up from the current annual target of $2.14. The release says the 2027 EPS midpoint represents 8% growth over the midpoint of the original 2026 ongoing EPS guidance. Management also raised its 2026 to 2030 capital expenditure forecast by 19% to $15.9 billion, citing growing demand. The company reports 3.4 gigawatts of contracted demand from data centers at IPL and WPL and expects peak demand to rise about 60% by 2031. On the regulatory front, the company is extending IPL's retail electric base rate stability plan by one year, through 2030, while earning its authorized return on equity. Balance sheet data show cash and cash equivalents of $26 million at September 30, 2026, versus $556 million at December 31, 2025, and commercial paper of $704 million, versus $88 million. Long-term debt, net, excluding current portion, was $11,085 million.
  2. 8-KAlliant Energy 8-K Report, Material Agreement (Oct 28, 2026)On October 26, 2026, Wisconsin Power and Light Company (WPL) and Interstate Power and Light Company (IPL), both wholly owned subsidiaries of Alliant Energy Corporation, entered into loan guarantee agreements, note purchase agreements, and future advance promissory notes with the U.S. Department of Energy under the DOE Loan Guarantee Program established under Title XVII of the Energy Policy Act of 2005. The filing states that Alliant Energy Corporation is not a party to, and has no direct obligations under, these Loan Documents, and that each subsidiary has no obligations under the other's documents. Under the facilities, WPL may borrow up to $1,626,488,000 and IPL up to $3,500,000,000 through the Federal Financing Bank to reimburse up to 80% of eligible project costs for projects such as generation, transmission, substations, energy storage and grid resilience technologies. Borrowings are full recourse, senior unsecured obligations of each subsidiary, with a scheduled final maturity of May 15, 2056. Each advance bears interest at a U.S. Treasury rate plus 37.5 basis points, and the availability period runs until the earliest of September 15, 2033, the maximum loan amount being reached, or termination. The agreements contain customary covenants and events of default, including compliance with DOE Program Requirements, and mandatory prepayment provisions tied to eligible project status, a 95% regulatory cost recovery threshold, and changes in control (35% or more beneficial ownership of the borrower). The filing also notes that advances are conditioned on items such as completion of DOE environmental review, receipt of state regulatory approvals, and confirmation of investment grade credit ratings.
  3. 8-KAlliant Energy 8-K Report, Corporate Update (Aug 21, 2026)Interstate Power and Light Company (IPL), a wholly owned subsidiary of Alliant Energy Corporation (NASDAQ: LNT), entered into an Underwriting Agreement dated August 18, 2026 with Mizuho Securities USA LLC, PNC Capital Markets LLC, U.S. Bancorp Investments, Inc., and Wells Fargo Securities, LLC, as representatives of the underwriters, to sell $500 million aggregate principal amount of its 5.100% Senior Debentures due 2031 in a public offering. The offering is expected to close on August 21, 2026, subject to customary closing conditions. The debentures are being issued under a 2003 indenture with The Bank of New York Mellon Trust Company, N.A., as successor trustee, and are registered under an automatic shelf registration statement on Form S-3 filed December 15, 2023. IPL's press release announcing pricing states the debentures will be due September 30, 2031, and that net proceeds are intended to reduce outstanding capital under its receivables purchase and sale program, reduce outstanding commercial paper, and/or fund general corporate purposes. This filing is primarily a procedural 8-K that files the underwriting agreement, officer's certificate, legal opinions, and pricing press release as exhibits to the registration statement. For investors, the filing is a routine debt financing by a regulated utility subsidiary, with the key terms being the $500 million size, the 5.100% coupon, the 2031 maturity, and a stated use of proceeds aimed at reducing short-term funding obligations and general corporate needs.
  4. 8-KAlliant Energy 8-K Report, Financial Results (Jul 31, 2026)Alliant Energy Corporation (Nasdaq: LNT) furnished an 8-K on July 30, 2026 under Item 2.02 reporting results for the three and six months ended June 30, 2026, with the earnings press release filed as Exhibit 99.1. The combined filing is made by Alliant Energy Corporation, Interstate Power and Light Company, and Wisconsin Power and Light Company. Second-quarter GAAP EPS was $0.65 versus $0.68 in the year-earlier quarter, and net income attributable to common shareowners was $170 million versus $174 million. For the six months, GAAP EPS was $1.52 versus $1.50, while non-GAAP EPS was $1.47 after excluding a $0.05 per share benefit from the remeasurement of deferred tax assets tied to state income tax apportionment. Management reaffirmed 2026 ongoing EPS guidance of $3.36 to $3.46 per diluted share and said earnings are currently trending in the upper half of that range. CEO Lisa Barton cited three data centers making significant construction progress and meaningful progress on energy resource investments, which the company says positions it to accelerate earnings growth. The release states the company expects 60% load growth by 2031 and that large customer load is expected to materialize as forecasted in 2026. Quarter drivers included higher revenue requirements from rate base growth at IPL and WPL ($0.09 per share each), higher equity earnings from corporate venture investments, and higher temperature-normalized retail sales. Offsets included higher other operation and maintenance expense, higher financing and depreciation expenses, and unfavorable temperature impacts, which the filing estimates reduced retail electric and gas sales by $0.03 per share in the quarter. Cash and cash equivalents fell to $25 million at June 30, 2026 from $556 million at December 31, 2025, and long-term debt payments of $1,075 million were made in the first half.
  5. 8-KAlliant Energy 8-K Report, Shareholder Vote Results (May 21, 2026)Alliant Energy Corporation's 8-K reports the final results of its annual meeting of shareowners held on May 20, 2026. Shareowners elected all four director nominees (Patrick Allen, Manu Asthana, Ignacio Cortina and Michael Garcia) to terms ending in 2029. Asthana received the strongest support, with 204,157,674 votes for against 1,248,759 against, while Garcia drew the most opposition, with 27,812,589 votes against and 177,498,853 for. Shareowners also approved, on an advisory and non-binding basis, the compensation of the company's named executive officers, with 196,043,476 votes for, 8,748,646 against and 1,042,626 abstaining. In addition, shareowners ratified the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for 2026, with 221,486,729 votes for, 7,841,355 against and 473,451 abstaining. The filing reports voting outcomes only and contains no financial results, guidance, or transactions. For investors, the meeting confirms board continuity and shareowner endorsement of executive pay and the auditor, though the vote against Garcia is the most notable dissent in the filing.
View all 8-K filings →
View all filings (10-K, 10-Q, 8-K, proxy & more) →

04—See also

Related Companies

Annual revenue over each company’s last eight fiscal years, each strip on its own scale from zero.