Alliant Energy Posts 2025 EPS Growth, Affirms 2026 Guidance
Event summary
- Alliant Energy reported 2025 GAAP EPS of $3.14, up from $2.69 in 2024, with ongoing EPS at $3.22 vs. $3.04.
- The company affirmed 2026 ongoing EPS guidance of $3.36–$3.46, maintaining over a decade of >6% compound annual growth.
- Key drivers included rate base increases from capital investments and higher commercial/industrial customer revenues.
- Projected 2026–2029 capital expenditures total $13.4 billion, with renewables/energy storage and gas projects leading investments.
- Non-GAAP adjustments excluded asset valuation charges and tax apportionment impacts.
The big picture
Alliant Energy's 2025 results reflect its strategic focus on capital investments in renewables and energy storage, aligning with broader utility sector trends toward decarbonization. The company's ability to maintain earnings growth hinges on regulatory support for its investment plans and successful execution of large-scale projects. With $13.4 billion in projected capital expenditures through 2029, Alliant is positioning itself for long-term growth in a rapidly evolving energy landscape.
What we're watching
- Regulatory Approvals
- Whether Alliant can secure timely rate relief for capital investments and new generation projects.
- Execution Risk
- The pace at which Alliant completes construction of renewables and energy storage projects within cost targets.
- Customer Demand
- How large load growth customers, particularly data centers, will impact system reliability and operating expenses.
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