Alliant Energy(LNT) - 2025 Q3 - Quarterly Results

Earnings Performance - Alliant Energy reported GAAP EPS of $1.09 for Q3 2025, down from $1.15 in Q3 2024, while ongoing EPS was $1.12, also down from $1.15 year-over-year[1][5] - For the first nine months of 2025, EPS increased by 23.3% to $2.59 from $2.10 in the same period of 2024, with ongoing EPS rising 12.4% to $2.62 from $2.33[2][6] - Alliant Energy's consolidated GAAP EPS for Q3 2025 was $1.09, down from $1.15 in Q3 2024, while non-GAAP EPS remained at $1.12 compared to $1.15 in the previous year[33] - For the nine months ended September 30, 2025, Alliant Energy reported a consolidated GAAP income of $668 million, an increase from $540 million in the same period of 2024, with non-GAAP income rising to $676 million from $599 million[33] - The adjusted non-GAAP EPS for the nine months ended September 30, 2025, was $2.62, compared to $2.33 in 2024, reflecting a significant increase in operational performance[33] - Net income attributable to Alliant Energy common shareowners for Q3 2025 was $281 million, a decrease of 4.8% from $295 million in Q3 2024[37] Revenue and Expenses - The primary drivers for the Q3 results included higher revenue from authorized base rate increases, offset by increased operational and maintenance expenses[5][7] - Total revenues for Q3 2025 increased to $1,210 million, up 11.9% from $1,081 million in Q3 2024[37] - Operating income for the nine months ended September 30, 2025, rose to $828 million, a 24.5% increase compared to $665 million in the same period of 2024[37] - The income from IPL for Q3 2025 was $165 million, compared to $190 million in Q3 2024, while WPL's income increased to $123 million from $114 million[33] Guidance and Future Outlook - The company narrowed its 2025 ongoing EPS guidance to $3.17 - $3.23 per share, with 2026 guidance set at $3.36 - $3.46, representing a 6.6% increase over 2025[4][11] - The expected annual common stock dividend target for 2026 has been raised to $2.14 per share, a 5.4% increase from 2025[4][12] - The forecasted capital expenditures for 2026-2029 have been increased to $13.4 billion, a 17% rise to meet growing energy demand[3][6] - Alliant Energy's capital expenditures guidance for 2025-2029 was highlighted, indicating a focus on future growth and infrastructure development[25] Customer and Market Information - Alliant Energy serves approximately 1,010,000 electric and 430,000 natural gas customers, focusing on regulated electricity and natural gas services in the Midwest[21] - Total utility retail electric customers reached 1,006,524 as of September 30, 2025, an increase from 999,893 in the same period of 2024[43] - Utility electric sales for residential customers in Q3 2025 were 2,154,000 megawatt-hours, an increase of 4.0% from 2,071,000 megawatt-hours in Q3 2024[43] Financial Position - Cash and cash equivalents increased significantly to $503 million as of September 30, 2025, compared to $81 million at the end of 2024[39] - Total assets grew to $24,627 million as of September 30, 2025, up from $22,714 million at the end of 2024[39] - Long-term debt, net (excluding current portion) increased to $10,655 million as of September 30, 2025, compared to $8,677 million at the end of 2024[39] Challenges and Considerations - Alliant Energy is facing challenges related to inflation and higher interest rates, which may impact operational costs and capital expenditures[25] - The company reported a state income tax apportionment charge of $8 million for Q3 2025, which was not present in the previous year, affecting non-GAAP earnings[34] - The company emphasized the importance of achieving expected tax benefits for renewable generation projects, which are crucial for maintaining authorized rates of return[25] - The company is actively monitoring regulatory changes that could impact renewable tax credits and overall operational compliance[25] Dividend Information - The quarterly common dividend rate per share increased to $0.5075 in Q3 2025, up from $0.48 in Q3 2024[43] - Alliant Energy's ability to sustain its dividend payout ratio goal remains a priority, with ongoing assessments of market conditions and financial performance[31] Data Center Demand - Alliant Energy's contracted demand from data centers has reached 3 gigawatts, anticipating a 50% increase in peak load demand by 2030[3][6] - The company has secured four data center agreements and is positioned for further growth opportunities in energy demand[5][6]