What drove the increase in third-quarter 2026 earnings?

The release cites higher revenue requirements from increasing rate base at IPL and WPL, worth $0.05 and $0.12 per share respectively, along with higher equity earnings from corporate venture investments, higher allowance for funds used during construction, and higher retail electric sales. Temperature effects added an estimated $0.05 per share. These gains were partly offset by higher other operation and maintenance expenses, higher financing and depreciation expenses, and planned maintenance costs. The company says the income tax timing variances will reverse by year-end.

What is the company's 2027 earnings and dividend outlook?

The company guides to 2027 ongoing EPS of $3.63 to $3.73 and targets an annual common stock dividend of $2.25 per share, compared with the current annual target of $2.14. The first-quarter 2027 dividend is expected to be declared in January 2027, subject to Board approval. Guidance assumes, among other things, realization of expected revenues from new data center demand and normal temperatures.

Why did the company raise its capital expenditure forecast?

The company increased its projected capital expenditures for 2027 through 2030 to $15.9 billion to meet growing demand. The release describes the energy resources needed to serve expected load while maintaining safe and reliable service as the driver. Renewables and energy storage projects total $1,250 million in 2027 and $1,890 million in 2028, and thermal generation and liquefied natural gas total $2,090 million in 2027.

What regulatory developments were announced?

IPL's retail electric base rate stability plan is being extended by one additional year, providing Iowa retail electric customers with predictability through the end of 2030. The CEO states the company is earning its authorized returns while maintaining affordability and reliability.

How did the company's balance sheet and liquidity change during the first nine months of 2026?

Cash and cash equivalents fell to $26 million at September 30, 2026, from $556 million at December 31, 2025. Commercial paper rose to $704 million from $88 million, and other short-term borrowings of $400 million were added. Long-term debt, net, excluding the current portion, was $11,085 million, compared with $10,954 million at year-end 2025. Book value per share was $30.10 at September 30, 2026.

LNT 8-K: Earnings & Results

01—Abstract

Summary

Summary of the 8-K filed October 30, 2026. Cited figures are marked; the original filing is the authoritative source.

Alliant Energy Corporation (NASDAQ: LNT) reported unaudited GAAP earnings per share of $1.52^a 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^b, 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^c 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%^d 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.

02—Key points

Key Highlights

Third-quarter 2026 GAAP EPS of $1.52, versus $1.09 in the third quarter of 2025; non-GAAP EPS of $1.52 versus $1.12
Nine-month 2026 GAAP EPS of $3.04 (up 17% from $2.59) and ongoing EPS of $2.99 (up 14% from $2.62)
2026 ongoing EPS guidance narrowed to $3.41 to $3.46, from $3.36 to $3.46
2027 ongoing EPS guidance of $3.63 to $3.73, with the midpoint representing 8% growth over the 2026 original guidance midpoint
2027 annual common stock dividend target raised to $2.25 per share from $2.14
Four-year capital expenditure forecast (2027 to 2030) increased 19% to $15.9 billion, with total capital expenditures of $4,305 million in 2027 and $2,610 million in 2030
3.4 gigawatts of contracted data center demand at IPL and WPL; peak demand expected to rise approximately 60% by 2031

03—Questions

Frequently Asked Questions

What drove the increase in third-quarter 2026 earnings?
The release cites higher revenue requirements from increasing rate base at IPL and WPL, worth $0.05 and $0.12 per share respectively, along with higher equity earnings from corporate venture investments, higher allowance for funds used during construction, and higher retail electric sales. Temperature effects added an estimated $0.05 per share. These gains were partly offset by higher other operation and maintenance expenses, higher financing and depreciation expenses, and planned maintenance costs. The company says the income tax timing variances will reverse by year-end.
What is the company's 2027 earnings and dividend outlook?
The company guides to 2027 ongoing EPS of $3.63 to $3.73 and targets an annual common stock dividend of $2.25 per share, compared with the current annual target of $2.14. The first-quarter 2027 dividend is expected to be declared in January 2027, subject to Board approval. Guidance assumes, among other things, realization of expected revenues from new data center demand and normal temperatures.
Why did the company raise its capital expenditure forecast?
The company increased its projected capital expenditures for 2027 through 2030 to $15.9 billion to meet growing demand. The release describes the energy resources needed to serve expected load while maintaining safe and reliable service as the driver. Renewables and energy storage projects total $1,250 million in 2027 and $1,890 million in 2028, and thermal generation and liquefied natural gas total $2,090 million in 2027.
What regulatory developments were announced?
IPL's retail electric base rate stability plan is being extended by one additional year, providing Iowa retail electric customers with predictability through the end of 2030. The CEO states the company is earning its authorized returns while maintaining affordability and reliability.
How did the company's balance sheet and liquidity change during the first nine months of 2026?
Cash and cash equivalents fell to $26 million at September 30, 2026, from $556 million at December 31, 2025. Commercial paper rose to $704 million from $88 million, and other short-term borrowings of $400 million were added. Long-term debt, net, excluding the current portion, was $11,085 million, compared with $10,954 million at year-end 2025. Book value per share was $30.10 at September 30, 2026.

04—Continue

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