Alliant Energy Corporation reported strong first-quarter 2025 GAAP earnings per share (EPS) of $0.83, a significant increase from $0.62 in Q1 2024. Net income attributable to common shareowners rose to $213 million from $158 million in the prior year period, with total revenue reaching $1.128 billion, up from $1.031 billion.
The Utilities and Corporate Services segment's GAAP EPS increased by $0.25 per share, primarily driven by higher revenue requirements from capital investments at both Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL), favorable temperature impacts, and the timing of income tax expense. IPL's rate base increases contributed $0.15 per share, while WPL's contributed $0.06 per share.
The company reaffirmed its 2025 EPS guidance range of $3.15 - $3.25 per share. Alliant Energy also updated its projected capital expenditures for 2025-2028 to approximately $11.5 billion, an increase of $600 million from the November 2024 update. This expanded plan is driven by securing fully executed energy supply agreements for three major data center developments, totaling 2.1 gigawatts of contracted peak demand, representing over a 30% increase in the company's peak demand.
Management highlighted proactive risk mitigation strategies, including safe harboring 100% of renewable and energy storage capital expenditures through 2028 to preserve tax credit eligibility. Additionally, the company reported minimal exposure to battery tariffs, estimating only 1-2% of the updated capital plan is at risk, as most batteries are already in possession or transit.
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