Alliant Energy Announces 2025 Results

About this update from Alliant Energy Corporation

MADISON, Wis., February 19, 2026 --( BUSINESS WIRE )--Alliant Energy Corporation (NASDAQ: LNT) today announced U.S. generally accepted accounting principles (GAAP) consolidated unaudited earnings per share (EPS) of $3.14 for 2025, compared to $2.69 for 2024. Ongoing EPS for 2025 was $3.22, compared to $3.04 for 2024. Alliant Energy affirmed its consolidated ongoing EPS guidance for 2026 of $3.36 - $3.46, continuing its over a decade strong track record of compound annual earnings growth of more than 6%. "In 2025, we delivered another solid year of financial and operational results. We’re executing well while investing to meet growing customer demand," said Lisa Barton, Alliant Energy President and CEO. "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 2025, the primary drivers of Alliant Energy’s results were higher EPS due to increased revenue requirements from authorized rate base increases, reflecting ongoing capital investments in generation and energy storage, non-GAAP adjustments in 2024, and estimated temperature impacts on retail electric and gas sales. 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. Alliant Energy’s Non-GAAP, or ongoing, EPS for 2025 excludes $0.05 per share of an asset valuation charge for Alliant Energy’s non-utility business, and a $0.03 per share charge related to the remeasurement of deferred tax assets, reflecting an increase in estimated state income tax apportionment. This adjustment is driven by higher projected electric utility revenues from commercial and industrial customers, including data center agreements in IPL’s and WPL’s service areas. These non-GAAP adjustments are presented to supplement GAAP results and highlight material charges not typically associated with ongoing operations. Alliant Energy’s Non-GAAP, or ongoing, EPS for 2024 excludes the $0.17 per share asset valuation charge for IPL’s Lansing Generating Station as a result of the Iowa Utilities Commission (IUC) order for IPL’s retail electric rate review, $0.08 per share of restructuring and voluntary separation charges, a $0.06 per share asset retirement obligation initial charge for steam assets at IPL due to the revised Coal Combustion Residuals Rule, and a $0.04 per share adjustment of deferred tax assets due to Iowa tax reform. Projected Capital Expenditures Alliant Energy has updated its projected capital expenditures for 2026 through 2029 (in millions). The projected capital expenditures exclude allowance for funds used during construction and capitalized interest, if applicable. Cost estimates represent Alliant Energy’s estimated portion of total construction expenditures. Earnings Conference Call A conference call to review the 2025 results is scheduled for Friday, February 20, 2026 at 9 a.m. central time. Alliant Energy President and Chief Executive Officer Lisa Barton, and Executive Vice President and Chief Financial Officer Robert Durian will host the call. The conference call is open to the public and can be accessed in two ways. Interested parties may listen to the call by dialing 800-549-8228 (Toll-Free) or 289-819-1520 (International), conference ID 89157. Interested parties may also listen to a webcast at www.alliantenergy.com/investors . In conjunction with the information in this earnings announcement and the conference call, Alliant Energy posted supplemental materials on its website. An archive of the webcast will be available on the Company’s website at www.alliantenergy.com/investors for 12 months. About Alliant Energy Corporation Alliant Energy is the parent company of two public utility companies - Interstate Power and Light Company and Wisconsin Power and Light Company - and of Alliant Energy Finance, LLC, the parent company of Alliant Energy’s non-utility operations. Alliant Energy, whose core purpose is to serve customers and build stronger communities, is an energy-services provider with utility subsidiaries serving approximately 1,010,000 electric and 435,000 natural gas customers. Providing its customers in the Midwest with regulated electricity and natural gas service is the Company’s primary focus. Alliant Energy, headquartered in Madison, Wisconsin, is a component of the S&P 500 and is traded on the Nasdaq Global Select Market under the symbol LNT. For more information, visit the Company’s website at www.alliantenergy.com . Forward-Looking Statements This press release includes forward-looking statements. These forward-looking statements can be identified by words such as "forecast," "expect," "guidance," or other words of similar import. Similarly, statements that describe future financial performance or plans or strategies are forward-looking statements. Such forward looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Actual results could be materially affected by the following factors, among others: For more information about potential factors that could affect Alliant Energy’s business and financial results, refer to Alliant Energy’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC), including the sections therein titled "Risk Factors," and its other filings with the SEC. Without limitation, the expectations with respect to 2026 earnings guidance and 2026-2029 capital expenditures guidance in this press release are forward-looking statements and are based in part on certain assumptions made by Alliant Energy, some of which are referred to in the forward-looking statements. Alliant Energy cannot provide any assurance that the assumptions referred to in the forward-looking statements or otherwise are accurate or will prove to be correct. Any assumptions that are inaccurate or do not prove to be correct could have a material adverse effect on Alliant Energy’s ability to achieve the estimates or other targets included in the forward-looking statements. The forward-looking statements included herein are made as of the date hereof and, except as required by law, Alliant Energy undertakes no obligation to update publicly such statements to reflect subsequent events or circumstances. Use of Non-GAAP Financial Measures To provide investors with additional information regarding Alliant Energy’s financial results, this press release includes reference to certain non-GAAP financial measures. These measures include income and EPS for the fourth quarter and year ended December 31, 2025 excluding an asset valuation charge for Alliant Energy’s non-regulated business, and for the year ended December 31, 2025 excluding the state income tax apportionment charge at the Parent. These measures also include income and EPS for the fourth quarter and year ended December 31, 2024 excluding charges related to restructuring and voluntary employee separation charges and the adjustment of deferred tax assets due to Iowa tax reform, and for the year ended December 31, 2024 excluding the asset valuation charge related to IPL’s Lansing Generating Station and asset retirement obligation charges for steam assets at IPL. Alliant Energy believes these non-GAAP financial measures are useful to investors because they provide an alternate measure to better understand and compare across periods the operating performance of Alliant Energy without the distortion of items that management believes are not normally associated with ongoing operations, and also provide additional information about Alliant Energy’s operations on a basis consistent with the measures that management uses to manage its operations and evaluate its performance. Alliant Energy’s management also uses income, as adjusted, to determine performance-based compensation. In addition, Alliant Energy included in this press release IPL; WPL; Corporate Services; Utilities and Corporate Services; ATC Holdings; and Non-utility and Parent EPS for the fourth quarter and year ended December 31, 2025 and 2024. Alliant Energy believes these non-GAAP financial measures are useful to investors because they facilitate an understanding of segment performance and trends, and provide additional information about Alliant Energy’s operations on a basis consistent with the measures that management uses to manage its operations and evaluate its performance. The tax impact adjustments represent the impact of the tax effect of the pre-tax non-GAAP adjustments excluded from non-GAAP net income. The tax impact of the non-GAAP adjustments is calculated based on the estimated consolidated statutory tax rate. Reconciliations of the non-GAAP financial measures included in this press release to the most directly comparable GAAP financial measures are included in the earnings summaries that follow. Note: Unless otherwise noted, all "per share" references in this release refer to earnings per diluted share.   View source version on businesswire.com: https://www.businesswire.com/news/home/20260219191122/en/ Contacts Investors Susan Gille (608) 458-3956 [email protected] Media Hotline (608) 458-4040

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