Alliant Energy (LNT) Q4 FY2025 earnings: revenue $1.1 billion, up 9.0% on the year

Alliant Energy Corp. (LNT) reported revenue of $1.1 billion for Q4 FY2025, the quarter ended 31 December 2025, up 9.0% on the same quarter a year earlier. Net income was $142 million, down 5.3% on the year, and diluted earnings per share $0.55. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2026.

Revenue

$1.1 billion

+9.0% on the year · -12.1% on the quarter

Q1 FY2024Q4 FY2025

Operating margin

18.4%

22.7% a year earlier

Q1 FY2024Q4 FY2025

Net income

$142 million

-5.3% on the year · -49.5% on the quarter

Q1 FY2024Q4 FY2025

Diluted EPS

$0.55

-5.2% on the year · -49.5% on the quarter

Q1 FY2024Q4 FY2025

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 raised, 2 lowered, 1 kept.

Full-year ongoing EPS up 6%: Ongoing EPS for 2025 was $3.22 against $3.04 in 2024, which the company describes as 6% growth.
Fourth-quarter EPS below prior-year level: Fourth-quarter GAAP EPS was $0.55 against $0.58; ongoing EPS was $0.60 against $0.70 a year earlier.
Rate base growth drove results: Management named higher revenue requirements from authorized rate base increases as the main driver, tied to ongoing generation and energy storage investment.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Revenue	1,063	1,210	975	-12.1%	+9.0%
Cost of revenue	150	166	149	-9.6%	+0.7%
Gross profit	913	1,044	826	-12.5%	+10.5%
Gross margin	85.9%	86.3%	84.7%
Operating income	196	349	221	-43.8%	-11.3%
Operating margin	18.4%	28.8%	22.7%
Interest expense	141	128	120	+10.2%	+17.5%
Pre-tax income	101	263	141	-61.6%	-28.4%
Income tax	-41.0	-18.0	-9.0
Effective tax rate	-40.6%	-6.8%	-6.4%
Net income	142	281	150	-49.5%	-5.3%
Net margin	13.4%	23.2%	15.4%
Diluted EPS	$0.55	$1.09	$0.58	-49.5%	-5.2%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Operating cash flow	269	408	254	-34.1%	+5.9%
Capital expenditure	790	511	772	+54.6%	+2.3%
Free cash flow	-521	-103	-518
Free cash flow margin	-49.0%	-8.5%	-53.1%
Cash from investing	-291	-711	-607
Cash from financing	75.0	477	-396	-84.3%
Depreciation and amortisation	216	211	200	+2.4%	+8.0%
Share-based compensation	9.0	6.0	2.0	+50.0%	+350.0%
Dividends paid	130	130	123	0.0%	+5.7%
Dividend per share	n/a	$0.51	n/a
Diluted shares, weighted	259m	258m	257m	+0.4%	+0.8%
Shares outstanding at period end	257m	257m	257m	+0.0%	+0.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Shareholders' equity	7,334	7,307	7,004	+0.4%	+4.7%
Debt	12,116	11,921	10,406	+1.6%	+16.4%
Operating lease liabilities	19.0	n/a	20.0		-5.0%
Finance lease liabilities	190	n/a	189		+0.5%
Other liabilities	5,332	5,399	5,095	-1.2%	+4.7%
Total liabilities and equity	24,991	24,627	22,714	+1.5%	+10.0%
Fixed assets	20,344	19,813	18,701	+2.7%	+8.8%
Investments	694	939	639	-26.1%	+8.6%
Cash and equivalents	556	503	81.0	+10.5%	+586.4%
Receivables	476	485	427	-1.9%	+11.5%
Other assets	2,921	2,887	2,866	+1.2%	+1.9%
Total assets	24,991	24,627	22,714	+1.5%	+10.0%

Questions

What was Alliant Energy's revenue in Q4 FY2025?

Alliant Energy (LNT) reported revenue of $1.1 billion for Q4 FY2025, the quarter ended 31 December 2025, up 9.0% on the same quarter a year earlier.

How much did Alliant Energy earn in Q4 FY2025?

Net income for Q4 FY2025 was $142 million, down 5.3% on the year, and diluted earnings per share $0.55.

When did Alliant Energy report Q4 FY2025 results?

Alliant Energy filed its 10-K for the year that ended with the quarter on 20 February 2026; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	927	1,068	943	1,135	1,059	1,077	912	1,077	961	1,031	894	1,081	975	1,128	961	1,210	1,063	1,184	971	1,285
Cost of revenue	134	138	133	157	145	146	138	154	145	152	147	165	149	158	151	166	150	159	155	176
Gross profit	793	930	810	978	914	931	774	923	816	879	747	916	826	970	810	1,044	913	1,025	816	1,109
Gross margin	86%	87%	86%	86%	86%	86%	85%	86%	85%	85%	84%	85%	85%	86%	84%	86%	86%	87%	84%	86%
Operating income	132	248	212	309	159	222	217	322	182	222	130	313	221	257	223	349	196	249	185	389
Operating margin	14%	23%	22%	27%	15%	21%	24%	30%	19%	22%	15%	29%	23%	23%	23%	29%	18%	21%	19%	30%
Interest expense	71.0	74.0	78.0	83.0	90.0	94.0	96.0	99.0	105	107	108	114	120	119	124	128	141	142	143	145
Pre-tax income	87.0	200	163	241	104	161	160	264	122	148	54.0	233	141	166	131	263	101	163	118	331
Tax rate	-9%	4%	2%	6%	-4%	-1%	0%	2%	1%	-7%	-61%	-27%	-6%	-28%	-33%	-7%	-41%	-37%	-44%	-20%
Net income	95.0	192	159	227	108	163	160	259	121	158	87.0	295	150	213	174	281	142	224	170	398
Net margin	10%	18%	17%	20%	10%	15%	18%	24%	13%	15%	10%	27%	15%	19%	18%	23%	13%	19%	18%	31%
Diluted EPS	$0.36	$0.77	$0.63	$0.90	$0.43	$0.65	$0.64	$1.02	$0.47	$0.62	$0.34	$1.15	$0.58	$0.83	$0.68	$1.09	$0.55	$0.87	$0.65	$1.52
Operating cash flow	105	251	49.0	185	1.0	188	123	311	245	307	255	351	254	249	243	408	269	368	113	428
Capital expenditure	397	307	243	323	611	417	341	443	n/a	478	392	410	772	554	422	511	790	342	571	730
Free cash flow	-292	-56.0	-194	-138	-610	-229	-218	-132	n/a	-171	-137	-59.0	-518	-305	-179	-103	-521	26.0	-458	-302
Dividends paid	99.0	107	108	107	106	113	113	115	115	123	123	123	123	130	131	130	130	137	137	139
Shares outstanding	250m	251m	251m	251m	251m	251m	253m	255m	256m	256m	256m	257m	257m	257m	257m	257m	257m	258m	259m	259m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2025, filed 20 February 2026: the filing.