01—Abstract
Summary
Summary of the 8-K filed May 9, 2025. Cited figures are marked; the original filing is the authoritative source.
Alliant Energy Corporation furnished a press release (Exhibit 99.1) dated May 8, 2025 announcing unaudited first quarter 2025 results for the three months ended March 31, 2025.
GAAP earnings per share were $0.83 for 2025, compared to $0.62a in 2024, with consolidated net income attributable to common shareowners of $213 million versus $158 million. The Utilities and Corporate Services segment contributed $0.87 per share, up $0.25 from the prior year, driven mainly by higher revenue requirements from capital investments, estimated temperature impacts on sales, and timing of income tax expense. The Non-utility and Parent segment reported $(0.08) per share, primarily reflecting higher financing expenses and timing of income tax expense.
Management noted the quarter was ahead of plan despite warmer-than-normal temperatures. The company reaffirmed its 2025 consolidated ongoing EPS guidance of $3.15 to $3.25b per share, assuming normal temperatures, a stable economy, execution of capital plans and cost controls, and a consolidated effective tax rate of (28%). The release states that the company has incorporated additional energy resources into its capital expenditure and financing plans to serve approximately 2.1 gigawatts of contracted peak data center demand.
The updated projected capital expenditures for 2025 through 2028 total $11.5 billionc in aggregate, with annual totals of $2,510 million in 2025, $2,755 million in 2026, $3,205 million in 2027, and $3,040 million in 2028. Renewables and energy storage and gas generation projects make up the largest components of the plan. Balance sheet figures show total assets of $22,851 million at March 31, 2025, and long-term debt of $8,580 million (excluding current maturities of $1,371 million).
02—Key points
Key Highlights
- GAAP EPS of $0.83 for Q1 2025, up from $0.62 in Q1 2024; net income attributable to common shareowners of $213 million versus $158 million.
- Utilities and Corporate Services EPS of $0.87, up $0.25 year over year, driven by higher revenue requirements from capital investments, estimated temperature impacts, and income tax timing.
- Non-utility and Parent EPS of $(0.08), $0.04 lower than the prior year, mainly due to higher financing expenses and income tax timing.
- 2025 consolidated ongoing EPS guidance of $3.15 to $3.25 reaffirmed, with a consolidated effective tax rate assumption of (28%).
- Updated 2025–2028 capital expenditure plan totaling $11.5 billion in aggregate, with annual spending of $2,510 million (2025) rising to $3,205 million (2027).
- Plans now include energy resources to serve approximately 2.1 gigawatts of contracted peak data center demand.
- Quarterly common dividend rate of $0.5075 per share, compared to $0.48 a year earlier.
03—Questions
Frequently Asked Questions
Did Alliant Energy change its 2025 earnings guidance?
No. The company reaffirmed its consolidated ongoing 2025 EPS guidance range of $3.15 to $3.25 per share. Management said first quarter EPS of $0.83 delivered more than 25% of the guidance midpoint, ahead of plan despite negative temperature impacts on sales.
What drove the increase in Utilities and Corporate Services earnings?
The segment earned $0.87 per share, $0.25 higher than the prior year. The primary drivers were higher revenue requirements from capital investments (about $0.21 per share in total, including $0.15 at IPL and $0.06 at WPL), estimated temperature impacts on retail sales, and timing of income tax expense. These were partly offset by higher depreciation and financing expenses.
How much does Alliant Energy plan to invest through 2028?
The updated projected capital expenditures for 2025 through 2028 total $11.5 billion in aggregate. Annual totals are $2,510 million in 2025, $2,755 million in 2026, $3,205 million in 2027, and $3,040 million in 2028. These figures exclude AFUDC and capitalized interest.
What is the significance of the data center demand mentioned in the release?
CEO Lisa Barton said the company has incorporated additional energy resources into its capital expenditure and financing plans, and those plans now include energy resources to serve approximately 2.1 gigawatts of contracted peak data center demand. The release notes that customers' ability to timely construct facilities and obtain regulatory approval for individual large load customer rates are factors that could affect results.
What weather impact did the company report for the quarter?
Warmer-than-normal temperatures reduced estimated operating income by $9 million in the first quarter of 2025, comprising $6 million for electric and $3 million for gas. Retail electric and gas sales decreased an estimated $0.03 and $0.08 per share in the first quarter of 2025 and 2024, respectively.
04—Continue