$LNT · ALLIANT ENERGY CORP
Alliant Energy reported Q3 2026 GAAP EPS of $1.52 on revenue of $1.285B, up from $1.09 EPS a year ago. The company narrowed 2026 ongoing EPS guidance to $3.41–$3.46 (top half of prior range) and initiated 2027 EPS guidance of $3.63–$3.73. A 19% increase in the four-year capital expenditure plan to $15.9B was announced alongside a 2027 dividend target raise to $2.25/share.
- Q3 2026 GAAP EPS of $1.52 vs $1.09 in Q3 2025, a 39% increase
- 2026 ongoing EPS guidance narrowed to $3.41–$3.46, the top half of the original $3.36–$3.46 range
- 2027 EPS guidance set at $3.63–$3.73, implying ~8% midpoint growth over 2026 original guidance
- Four-year capex plan (2027–2030) raised 19% to $15.9B, driven by 3.4 GW of contracted data center demand
- 2027 annual dividend target increased to $2.25/share from $2.14, a 5.1% hike
Extended-hours trading shows minimal movement (+0.04% vs filing-time price), suggesting the results and guidance were largely in line with expectations. The $18.33B market cap utility's 19% capex increase and dividend raise may draw positive attention in the regular session.
A regulated utility delivering 39% YoY EPS growth, a 19% capex plan increase, and an above-consensus 2027 guide is rare — the data center demand catalyst is now showing up in hard numbers.
Alliant's 60% peak demand growth forecast by 2031 and 3.4 GW of contracted data center load place it among the most data-center-exposed regulated utilities, rivaling peers like XEL and DUK in load-growth narrative.
Regulatory risk: earnings depend on IPL and WPL earning authorized rates of return. Large capex execution risk tied to data center demand materializing; if customers delay or cancel, overbuilt assets could pressure returns. Tariff and supply-chain risks flagged for solar project materials.