LNT US S&P 500Russell 1000 Earnings call
Alliant Energy (LNT) · Q1 2026 results and valuation
Share price: $73.62 · 2026-11-11
Results Q1 2026 vs Q4 2025 · previous quarter · published 1 May 2026 and 20 Feb 2026
Net income up 57.7% on the previous quarter. Management sounded restrained, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
+57.7%
Net income vs Q4 2025
Outlook given
Net income 224.0M vs 142.0M
Revenue +11.3%
Against the same quarter last year (Q1 2025) it is +5.2% — part of the move on last quarter is seasonal.
2 · How management spoke
Restrained
Less upbeat than 71% of company calls
Answers to analysts: typical, in line with the script.
Similar to last call.
3 · What stood out
Figure
LNT announced a $10 billion development, the largest economic investment in Iowa’s history, to enable innovation, job creation, and long-term growth.
Valuation
Is Alliant Energy undervalued?
Reverse DCF on net income from the last full fiscal year (no meaningful free cash flow: a bank, insurer or a year of negative cash flow) (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
The projected cash flow doesn't cover the debt, so the price is far above the model's fair value.
Current price
$73.62
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+16.3% for 10 yrs
Fair value / share
$-5.46
Buy below
$-4.09
Price vs fair value
n/a
Price vs buy-below price
n/a
Read between the lines
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Guidance
Alliant Energy guides data center customers to low-cost, transmission-ready sites in its service This is the Alliant Energy Corporation Advantage, a disciplined, solutions-oriented approach to growth.
Source quote
“We guide data center customers to low-cost, transmission-ready sites in our service This is the Alliant Energy Corporation Advantage, a disciplined, solutions-oriented approach to growth. And because our more recent electric service agreements are capacity-only, the investments required to serve this load are primarily energy storage and natural gas combustion turbines.”
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Guidance
LNT reaffirmed its 2026 full-year earnings guidance following the release of its first quarter 2026 results.
Source quote
“Last night, we issued a news release announcing our first quarter 2026 results and reaffirmed 2026 full-year earnings guidance.”
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Fading
LNT is awaiting a decision from the Public Service Commission of Wisconsin on the individual customer rate filing, with decisions expected over the next twelve months.
Source quote
“We are also awaiting a decision from the Public Service Commission of Wisconsin on the individual customer rate filing associated... We expect decisions on these matters over the next twelve months. Earlier this month, intervenors submitted testimony that was generally supportive, while offering proposals for additional company and existing customer protections.”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q1 2026. Ring: Q4 2025.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“Our commitment has remained consistent: creating wins for existing customers and communities, a win for new customers, and a win for our investors.”
“Despite the heavy storm activity, we achieved strong reliability and safety statistics through 2026, which is a testament to the quality of the work by the field organization.”
“Looking ahead, we continue to make strong progress on the 2 to 4 gigawatts of future large load opportunities we first announced six months ago.”
Full figures
USD · SEC EDGAR XBRL (10-Q, period end 2026-03-31)
| Metric | Q1 2026period end 2026-03-31 | Q4 2025period end 2025-12-31 | Change | Q1 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 1.18B | 1.06B | +11.3% | 1.13B | +5.0% |
| Gross profit | 1.02B | 439.0M | +133.5% | 970.0M | +5.7% |
| Operating income | 249.0M | 197.0M | +26.4% | 257.0M | −3.1% |
| Net income | 224.0M | 142.0M | +57.7% | 213.0M | +5.2% |
| EPS | 0.87 | 0.55 | +58.2% | 0.83 | +4.8% |
| P/E today 20.2 | 22.6 | 20.7 | +1.9 | 22.2 | +0.4 |
Topics
Most discussed now
- If you think about Alliant Energy's service territory, it is about twice the physical service territory of Wisconsin and has very...
- Alliant Energy now has five fully executed data center agreements representing approximately 3.4 gigawatts of contracted demand, with three…
- As I have shared previously, Alliant Energy remains committed to driving economic development and prosperity across the states it serves.
- Alliant Energy's third-quarter update will include a refreshed Iowa resource plan reflecting any incremental load beyond the 3 gigawatts…
- Alliant Energy will continue to assess its long-term earnings growth potential as it executes its data center expansion and update its...
Faded since Q4 2025
- Dropped Alliant Energy has a solid execution plan and a backlog of opportunities to drive future waves of growth for its shareowners,...
- Dropped Paul, when you think about Alliant Energy's investment plan, it is pretty consistent overall when you think about the four years...
- Dropped I would still say that combined-cycle is an opportunity for it and really upside opportunity to it when you think...
- Fading A relentless focus on customers and building stronger communities is at the heart of everything Alliant Energy does.
Latest announcements
Official filings, newest first.
- Other events · SEC 8-K
- Results of operations · SEC 8-K
- Shareholder vote results · SEC 8-K
- Results of operations · SEC 8-K
- Material agreement · SEC 8-K
- Material agreement; New financial obligation · SEC 8-K
- Results of operations · SEC 8-K
- Director or officer change · SEC 8-K