Alliant Energy (LNT) Q1 FY2026 earnings: revenue $1.2 billion, up 5.0% on the year

Alliant Energy Corp. (LNT) reported revenue of $1.2 billion for Q1 FY2026, the quarter ended 31 March 2026, up 5.0% on the same quarter a year earlier. Net income was $224 million, up 5.2% on the year, and diluted earnings per share $0.87. The figures are the company's own, from the 10-Q it filed with the SEC on 1 May 2026.

Revenue

$1.2 billion

+5.0% on the year · +11.4% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

21.0%

22.8% a year earlier

Q2 FY2024Q1 FY2026

Net income

$224 million

+5.2% on the year · +57.7% on the quarter

Q2 FY2024Q1 FY2026

Diluted EPS

$0.87

+4.8% on the year · +58.2% on the quarter

Q2 FY2024Q1 FY2026

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

What management said

Guidance figures: 1 kept.

GAAP EPS rose, ongoing EPS slipped: The company reported GAAP EPS of $0.87 against $0.83 a year earlier. Ongoing EPS was $0.82 against $0.83, and the release says it is about 25% of the guidance midpoint.
Rate base growth added to earnings: Higher revenue requirements from rate base growth added $0.05 per share at IPL and $0.10 per share at WPL, including generation and energy storage investment. Higher allowance for funds used during construction also added to results.
Temperatures cut operating income $16 million: Estimated operating income decreases from temperatures were $16 million in the quarter, against $9 million a year earlier. Electric accounted for $10 million and gas for $6 million.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	1,184	1,063	1,128	+11.4%	+5.0%
Cost of revenue	159	150	158	+6.0%	+0.6%
Gross profit	1,025	913	970	+12.3%	+5.7%
Gross margin	86.6%	85.9%	86.0%
Operating income	249	196	257	+27.0%	-3.1%
Operating margin	21.0%	18.4%	22.8%
Interest expense	142	141	119	+0.7%	+19.3%
Pre-tax income	163	101	166	+61.4%	-1.8%
Income tax	-61.0	-41.0	-47.0
Effective tax rate	-37.4%	-40.6%	-28.3%
Net income	224	142	213	+57.7%	+5.2%
Net margin	18.9%	13.4%	18.9%
Diluted EPS	$0.87	$0.55	$0.83	+58.2%	+4.8%

$ 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	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	368	269	249	+36.8%	+47.8%
Capital expenditure	342	790	554	-56.7%	-38.3%
Free cash flow	26.0	-521	-305
Free cash flow margin	2.2%	-49.0%	-27.0%
Cash from investing	-393	-291	-404
Cash from financing	-416	75.0	99.0
Depreciation and amortisation	223	216	211	+3.2%	+5.7%
Share-based compensation	6.0	9.0	4.0	-33.3%	+50.0%
Dividends paid	137	130	130	+5.4%	+5.4%
Dividend per share	$0.54	n/a	$0.51		+5.4%
Diluted shares, weighted	259m	259m	257m	0.0%	+0.6%
Shares outstanding at period end	258m	257m	257m	+0.4%	+0.5%

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	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	7,422	7,334	7,093	+1.2%	+4.6%
Debt	11,840	12,116	10,629	-2.3%	+11.4%
Operating lease liabilities	n/a	19.0	n/a
Finance lease liabilities	n/a	190	n/a
Other liabilities	5,551	5,332	5,129	+4.1%	+8.2%
Total liabilities and equity	24,813	24,991	22,851	-0.7%	+8.6%
Fixed assets	20,589	20,344	19,022	+1.2%	+8.2%
Investments	724	694	650	+4.3%	+11.4%
Cash and equivalents	115	556	25.0	-79.3%	+360.0%
Receivables	497	476	361	+4.4%	+37.7%
Other assets	2,888	2,921	2,793	-1.1%	+3.4%
Total assets	24,813	24,991	22,851	-0.7%	+8.6%

Questions

What was Alliant Energy's revenue in Q1 FY2026?

Alliant Energy (LNT) reported revenue of $1.2 billion for Q1 FY2026, the quarter ended 31 March 2026, up 5.0% on the same quarter a year earlier.

How much did Alliant Energy earn in Q1 FY2026?

Net income for Q1 FY2026 was $224 million, up 5.2% on the year, and diluted earnings per share $0.87.

When did Alliant Energy report Q1 FY2026 results?

Alliant Energy filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 1 May 2026.

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-Q for the period ended 31 March 2026, filed 1 May 2026: the filing.