Alliant Energy Corp. has posted $213 million in net income attributable to shareholders for the first quarter (Q1), up from $158 million for the same three-month period last year as power and gas utility revenue rose.
The Madison, Wisconsin-based company’s earnings per share of $0.83 surpassed the Zacks Consensus Estimate, an average of projections by brokerage analysts, of 57 cents.
Revenue totaled $1.13 billion, up from Q1 2024’s $1.03 billion. Electric utility sales contributed $853 million, while $240 million came from natural gas utility – both up year-on-year.
“We are off to a solid start in 2025, delivering more than 25 percent of our earnings guidance midpoint, which is ahead of plan despite negative temperature impacts on sales”, president and chief executive Lisa Barton said in the company’s quarterly report.
Operating expenses from generation fuel and purchased power rose to $175 million, as did power transmission service expenditure ($158 million). However, energy efficiency costs fell to $10 million. Depreciation and amortization climbed to $211 million from $189 million.
Operating profit landed at $257 million, up from $222 million for Q1 2024. Profit before income taxes was $166 million, up from $148 million.
The Utilities and Corporate Services segment generated $0.87 in earnings per share (EPS), up from $0.62 for Q1 2024. “The primary drivers of higher EPS were higher revenue requirements from capital investments, estimated temperature impacts on retail electric and gas sales, and timing of income tax expense”, the report stated. “These items were partially offset by higher depreciation and financing expenses”.
American Transmission Co. Holdings, through which Alliant Energy operates the regional power grid in parts of Illinois, Michigan, Minnesota and Wisconsin, logged a net profit per share of $0.04, the same as Q1 2024.
The non-utility and parent result was a net loss per share of $0.08, compared to a negative $0.04 for Q1 2024. “The lower EPS was primarily driven by higher financing expenses and timing of income tax expense”, Alliant Energy said.
It affirmed its consolidated EPS guidance of $3.15-$3.25 for 2025, assuming normal temperatures and a stable economy, among other factors.
Alliant Energy updated its 2025-28 capital spending guidance, expecting $2.5 billion this year and $3.04 billion for 2028.
“Our plans now include energy resources to serve approximately 2.1 gigawatts of contracted peak data center demand”, Barton said.
Alliant Energy ended Q1 2025 with $25 million in cash and cash equivalents and $1.37 billion in current maturities from long-term debt.
To contact the author, email jov.onsat@rigzone.com
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