Analyst Consensus ?
ConsensusBuy21 ratings
Bullish1152.4%
Neutral1047.6%
Bearish00.0%
Alliant Energy Corporation · LNT · FY2026 Q1 · Calendar Q2 2026
Alliant Energy Q1 2026 EPS $0.82 Beats Estimate, 370 MW Data Center ESA Signed
Alliant Energy's Q1 2026 results reflect a utility successfully capitalizing on surging data center electricity demand. EPS of $0.82 beat consensus by 3.4% and revenue of $1.18B exceeded estimates by 10.1%, driven by growing large-load connections. The company signed a 370 MW electric service agreement with a hyperscale customer in Iowa and is participating in a $10 billion QTS data center development, described as the largest economic investment in Iowa's history. With five agreements totaling approximately 3.4 GW under construction and a pipeline of 2-4 GW in additional opportunities, management is scaling flexible generation—simple-cycle gas turbines and battery storage—to meet ramping demand. The capital plan is funded through a mix of cash, up to $800 million in new debt, and $1.3 billion in secured forward equity agreements. An S&P credit rating upgrade from BBB+ to A- for IPL…
Reported After market closeNASDAQUtilities
$18.31B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.82
Consensus $0.79
EPS surprise
+3.4%
Reported versus consensus
Reported revenue
$1.18B
Consensus $1.08B
Revenue surprise
+10.1%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+0.9%
Event window
SPY move
+0.3%
Same window
Abnormal move
+0.6%
Stock minus SPY
Volume
2.3×
Versus trailing sessions
Subsequent drift
-6.1%
Up to 20 sessions
LNTSPY benchmark
Ask FN2 about LNT FY2026 Q1
Transcript, numbers and history already loaded
Why did LNT rise 0.9% after beating EPS estimates in FY2026 Q1?What changed in LNT's guidance and outlook in FY2026 Q1?Give me the bull and bear case for LNT after FY2026 Q1 earnings.
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Transcript intelligence
What changed
EPS of $0.82 beat the $0.793 consensus by 3.4%, meeting company guidance. Revenue of $1.18B surpassed the $1.076B estimate by 10.1%. Alliant signed a 370 MW electric service agreement with a hyperscale customer in Iowa with full load ramp by 2030. IPL received an S&P credit rating upgrade from BBB+ to A- and issued a new $400 million term loan. The company is participating in a $10 billion QTS data center development, the largest economic investment in Iowa's history. Capex outlook shifted from stable to increasing, with a resource plan update planned for Q3 2026. Regulatory approvals were secured for 1 GW of wind in Iowa and the 153 MW Ventre North wind project in Wisconsin.
Guidance delta
Management maintained 2026 earnings and dividend guidance, consistent with the prior quarter's stance. The capex outlook shifted from stable to increasing, with a resource plan update scheduled for Q3 2026 to reflect new load and generation needs. No active base-rate reviews are underway in Iowa for 2026. The company expects to continue pursuing large data center electric service agreements across both Iowa and Wisconsin.
Key takeaways
- Q1 2026 ongoing EPS of $0.82 met company guidance and beat the $0.793 consensus estimate by 3.4%
- Revenue of $1.18B surpassed the $1.076B consensus by 10.1%
- Five data center agreements totaling approximately 3.4 GW are under construction, with an additional 2-4 GW pipeline in progress
- Capital plan funded by cash, up to $800M in new debt, and $1.3B in secured forward equity agreements
- IPL credit rating upgraded by S&P from BBB+ to A-; a new $400M term loan was issued
- Flexible resource strategy emphasizes simple-cycle turbines and battery storage to support rapid data center growth
Management priorities
- Execute the 2-4 GW data center load pipeline through additional electric service agreements in Iowa and Wisconsin
- Advance flexible generation assets, including simple-cycle gas turbines and battery storage projects
- Deliver a Q3 2026 resource plan update reflecting new load and generation requirements
- Maintain low customer rates while leveraging investment tax credits and regulatory mechanisms
- Secure regulatory approvals for pending wind, storage, and individual customer rate filings
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Analyst 52W Price Targets
$70.68Current
$60Low
$72.09Average
$83High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 29, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Barclays | Equal Weight | Equal Weight | Maintain | Oct 13, 2026 |
| Mizuho | Neutral | Neutral | Maintain | Aug 3, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Aug 3, 2026 |
| Scotiabank | Sector Perform | Sector Perform | Maintain | May 4, 2026 |
| Argus Research | Hold | Buy | Downgrade | Jan 9, 2026 |
| UBS | Buy | Buy | Maintain | Dec 17, 2025 |
| B of A Securities | Buy | Buy | Maintain | Oct 17, 2025 |
| Jefferies | Buy | Buy | Maintain | Jul 11, 2025 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Jul 7, 2025 |
| Guggenheim | Neutral | Neutral | Maintain | Feb 24, 2025 |
| Wells Fargo | Overweight | Overweight | Maintain | Nov 4, 2024 |
| Ladenburg Thalmann | Buy | Neutral | Upgrade | Aug 13, 2024 |
| Bank of America | Buy | Neutral | Upgrade | Jun 26, 2019 |
| Argus | Buy | Buy | Maintain | May 5, 2018 |
| Macquarie | Neutral | Outperform | Downgrade | Jan 24, 2017 |
| Wunderlich Securities | Hold | Hold | Maintain | May 4, 2015 |
| Wunderlich | Hold | Hold | Maintain | May 4, 2015 |
| Baird | Outperform | Neutral | Upgrade | Mar 25, 2015 |
| Keybanc | Hold | Underweight | Upgrade | Sep 5, 2013 |
| DA Davidson | Buy | Buy | Maintain | Aug 5, 2013 |
| Bank oferica | Neutral | Neutral | Maintain | May 7, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $70.68. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| HSBC | Analyst unavailable | $69.5 | $68.39 | -1.7% | Oct 22, 2026 |
| RBC Capital | Analyst unavailable | $75 | $66.67 | +6.1% | Oct 14, 2026 |
| BMO Capital | Edward DeArias | $75 | $66.71 | +6.1% | Oct 14, 2026 |
| Barclays | Nicholas Campanella | $68 | $66.46 | -3.8% | Oct 13, 2026 |
| Jefferies | Julien Dumoulin-Smith | $75 | $65.85 | +6.1% | Oct 12, 2026 |
| Jefferies | Julien Dumoulin-Smith | $80 | $68.92 | +13.2% | Aug 27, 2026 |
| Mizuho Securities | Anthony Crowdell | $75 | $70.78 | +6.1% | Aug 3, 2026 |
| BMO Capital | Analyst unavailable | $83 | $75.98 | +17.4% | Jul 15, 2026 |
| Scotiabank | Andrew Weisel | $74 | $73.86 | +4.7% | May 4, 2026 |
| BMO Capital | Edward DeArias | $81 | $74 | +14.6% | May 4, 2026 |
| Mizuho Securities | Analyst unavailable | $76 | $74.06 | +7.5% | May 4, 2026 |
| Wells Fargo | Analyst unavailable | $76 | $72.4 | +7.5% | Apr 21, 2026 |
| BMO Capital | Analyst unavailable | $79 | $72.77 | +11.8% | Apr 17, 2026 |
| Barclays | Nicholas Campanella | $74 | $72.3 | +4.7% | Apr 15, 2026 |
| BMO Capital | Analyst unavailable | $78 | $71.86 | +10.4% | Feb 23, 2026 |
| Mizuho Securities | Analyst unavailable | $73 | $71.01 | +3.3% | Feb 23, 2026 |
| Wells Fargo | Analyst unavailable | $75 | $71.01 | +6.1% | Feb 22, 2026 |
| Barclays | Analyst unavailable | $67 | $67.28 | -5.2% | Jan 21, 2026 |
| Wells Fargo | Analyst unavailable | $71 | $67.34 | +0.5% | Jan 20, 2026 |
| UBS | Analyst unavailable | $75 | $65.26 | +6.1% | Dec 17, 2025 |
| Wolfe Research | Steve Fleishman | $76 | $69.47 | +7.5% | Dec 1, 2025 |
| Jefferies | Julien Dumoulin-Smith | $78 | $68.27 | +10.4% | Nov 24, 2025 |
| BMO Capital | Analyst unavailable | $71 | $67.6 | +0.5% | Oct 17, 2025 |
| Barclays | Analyst unavailable | $65 | $67.66 | -8.0% | Oct 14, 2025 |
| UBS | Analyst unavailable | $74 | $67.24 | +4.7% | Oct 10, 2025 |
| Wolfe Research | Steve Fleishman | $68 | $61.92 | -3.8% | Jul 7, 2025 |
| Jefferies | Julien Dumoulin-Smith | $71 | $63.16 | +0.5% | May 20, 2025 |
| BMO Capital | Analyst unavailable | $64 | $61.03 | -9.5% | Apr 22, 2025 |
| Wells Fargo | Neil Kalton | $66 | $61.08 | -6.6% | Oct 16, 2024 |
| Barclays | Nicholas Campanella | $61 | $59.67 | -13.7% | Oct 14, 2024 |
| Mizuho Securities | Anthony Crowdell | $61 | $60.19 | -13.7% | Oct 4, 2024 |
| Jefferies | Julien Dumoulin-Smith | $67 | $59.75 | -5.2% | Sep 19, 2024 |
| Bank of America Securities | Paul Cole | $63 | $57.61 | -10.9% | Aug 29, 2024 |
| Scotiabank | Andrew Weisel | $64 | $57.72 | -9.5% | Aug 20, 2024 |
| Scotiabank | Andrew Weisel | $58 | $55.32 | -17.9% | Aug 6, 2024 |
| BMO Capital | James Thalacker | $60 | $56.09 | -15.1% | Aug 6, 2024 |
| Barclays | Nicholas Campanella | $55 | $52 | -22.2% | Jul 11, 2024 |
| BMO Capital | James Thalacker | $53 | $48 | -25.0% | Apr 15, 2024 |
| Mizuho Securities | Anthony Crowdell | $55 | $55.21 | -22.2% | Jan 9, 2023 |
| Wells Fargo | Analyst unavailable | $65 | $58.81 | -8.0% | May 2, 2022 |
| Wolfe Research | Steve Fleishman | $65 | $58.81 | -8.0% | May 2, 2022 |
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Start freeCompany context
Snapshot as of publicationAlliant Energy Corporation functions as a utility holding company, specializing in the provision of regulated electricity and natural gas services. Its operational structure is divided into three principal segments: Utility Electric Operations, Utility Gas Operations, and Utility Other. Through its primary subsidiary, Interstate Power and Light Company (IPL), the corporation generates and distributes electricity, and manages the distribution and transportation of natural gas to retail customers throughout Iowa. IPL also markets electricity to wholesale buyers across Minnesota, Illinois, and Iowa, and generates and supplies steam in Cedar Rapids, Iowa. Similarly, its other subsidiary, Wisconsin Power and Light Company (WPL), is responsible for electricity generation and distribution, alongside natural gas distribution and transport, for retail clients within Wisconsin. WPL additionally sells wholesale electricity in Wisconsin.…
Historical context
All LNT earningsUtilities peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| XEL Xcel Energy Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +2.4% | Xcel pairs strong Q3 with a larger capital and load-growth plan |
| AWK American Water Works Company, Inc. | FY2026 Q3 · Calendar Q4 2026 | -2.0% | +1.1% | AWK outlines merger path and heavier capital investment |
Latest beats and misses
Who reports nextBeat on EPS
- AGIFY2026 Q3 · October 28, 20260.0% EPS-9.0% move
- ARFY2026 Q3 · October 28, 2026+22.3% EPS-2.2% move
- INVHFY2026 Q3 · October 28, 2026+49.5% EPS-0.4% move
- AEMFY2026 Q3 · October 28, 2026+5.7% EPS-3.9% move
- ORLYFY2026 Q3 · October 28, 2026+4.3% EPS-2.7% move
- STRLFY2026 Q3 · October 28, 2026+22.3% EPS-0.4% move
Get the LNT recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-31T03:53:17.173154+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-31T03:53:17.170804+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-07-31. For educational purposes only; not investment advice.