Alliant Energy Reaffirms 2026 Outlook as Data Center Growth Supports Demand

Alliant Energy Reaffirms 2026 Outlook as Data Center Growth Supports Demand

Charles Kennedy

Fri, July 31, 2026 at 4:50 AM GMT+3 2 min read

• LNT -0.16%

Alliant Energy reaffirmed its full-year 2026 earnings guidance after reporting slightly lower second-quarter earnings, as the regulated utility pointed to continued investment in infrastructure and accelerating electricity demand from large customers, including data centers.

The company reported second-quarter GAAP earnings of $0.65 per diluted share, down from $0.68 a year earlier. Net income attributable to common shareholders slipped to $170 million from $174 million, while revenue increased to $971 million from $961 million in the prior-year period.

Management maintained its 2026 ongoing earnings guidance of $3.36 to $3.46 per share, saying results are currently tracking in the upper half of that range.

Chief Executive Lisa Barton said the company delivered another solid quarter and highlighted progress on three data center developments and energy resource investments, which it expects will support future earnings growth and economic development across its service territory.

Alliant continues to forecast approximately 60% load growth by 2031, with management stating that expected demand from large customers remains on track to materialize this year. The utility has increasingly positioned itself to benefit from rising electricity consumption tied to AI and hyperscale data center development across the Midwest.

Second-quarter earnings were supported by higher regulated revenue from an expanding rate base at its Interstate Power and Light and Wisconsin Power and Light subsidiaries, as well as stronger equity income from corporate venture investments and higher weather-normalized retail electricity and gas sales. Those gains were partly offset by higher operating and maintenance costs, increased depreciation and financing expenses, and unfavorable weather impacts on customer demand.

For the first six months of 2026, GAAP earnings per share increased to $1.52 from $1.50 a year earlier. Excluding a one-time state tax apportionment benefit, ongoing earnings were $1.47 per share.

Alliant Energy is investing heavily in generation, energy storage and grid infrastructure as regulated U.S. utilities prepare for a surge in electricity demand from data centers, manufacturing and broader electrification. The company serves more than 1 million electric customers across Iowa and Wisconsin.

By Charles Kennedy for Oilprice.com

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