Alliant Energy Corporation reported second-quarter 2025 GAAP earnings per share (EPS) of $0.68, representing a 100% increase compared to $0.33 in Q2 2024. The company's GAAP revenue was $961 million, surpassing the consensus estimate of $887.2 million and marking a 7.5% increase from Q2 2024. Net income for the quarter was $174 million.
The significant profit growth was primarily driven by higher allowed revenue from new capital placed in service, including solar generation and battery storage, and the normalization of weather impacts on customer demand. The regulated utilities segment saw its GAAP EPS climb from $0.33 to $0.74, reflecting the positive impact of ongoing investments.
Alliant Energy reaffirmed its full-year 2025 ongoing EPS guidance in the range of $3.15–$3.25. The company's capital expenditure plan for 2025–2028 has been updated to $11.5 billion, an increase of $600 million, primarily dedicated to new natural gas and renewable generation to support 2.1 gigawatts of contracted peak data center demand, which represents over a 30% increase in the utility’s peak demand.
To fund this ambitious capital plan, $1.4 billion is expected to be raised through new equity, primarily between 2026 and 2028, to maintain a strong balance sheet. The company also noted an increase in its quarterly dividend to $0.5075 per share, up from $0.48 per share in the prior year, reflecting consistent shareholder returns.
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