Midwest power and natural gas utility Alliant Energy Corp on Thursday reported $810 million ($3.14 per diluted share) in net income for 2025, up from $690 million for 2024 on the back of authorized rate base increases.
Annual net earnings adjusted for extraordinary or nonrecurring items landed at $830 million, up from $781 million for 2024.
Q4 2025 net profit landed at $142 million or $0.55 per share, down from $150 million for Q4 2024 partly due to higher interest expense.
Quarterly profit after adjustments was $154 million, or $0.6 per share, down from $182 million for Q4 2024. Nasdaq-listed Alliant beat the Zacks Consensus Estimate of $0.58.
“In 2025, the primary drivers of Alliant Energy’s results were higher EPS [earnings per share] due to increased revenue requirements from authorized rate base increases, reflecting ongoing capital investments in generation and energy storage, non-GAAP [generally accepted accounting principles] adjustments in 2024 and estimated temperature impacts on retail electric and gas sales”, Alliant said in an online statement.
“These items were partially offset by higher other operation and maintenance expenses, driven by increased generation costs from planned maintenance activities and the addition of new energy resources, as well as higher development costs to support long-term growth. Higher depreciation and financing expenses related to capital investments and non-GAAP adjustments in 2025 also partially offset the higher earnings”.
Power utility revenue climbed to $3.7 billion for 2025 from $3.37 billion for 2024. The October-December 2025 period contributed $870 million, up from $793 million for Q4 2024.
Gas utility revenue totaled $525 million for 2025, up from $465 million for 2024. Q4 2025 gas utility revenue was $159 million, up from $143 million for Q4 2024.
Operating expenses totaled $3.34 billion for 2025, up from $3.1 billion for 2024. Q4 2025 operating expenses came at $868 million, up from $754 million for Q4 2024.
Dividend per share increased to $0.5075 for Q4 2025 from $0.48 for Q4 2024.
“We’re executing well while investing to meet growing customer demand”, said Alliant president and chief executive Lisa Barton. “We have renegotiated an electric service agreement with QTS based on a new project location and our investment plan reinforces our flexibility and balanced generation portfolio as we continue to execute on our customer and community-focused strategy”.
In generation, renewables and energy storage projects get most of Alliant’s budgeted capital for this year, $1.06 billion out of $3.13 billion. Gas projects have been allotted $970 million. In distribution, electric systems receive $545 million and gas systems $145 million.
Alliant’s main businesses – Interstate Power and Light Co (IPL) and Wisconsin Power and Light Co (WPL) – serve about one million power customers and 430,000 gas customers, Alliant says on its website. IPL provides retail power and gas services in Iowa, as well as sells electricity to wholesale customers in Minnesota, Illinois and Iowa. WPL provides retail and wholesale power and retail gas services in Wisconsin.
To contact the author, email jov.onsat@rigzone.com
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