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Alliant Energy (LNT) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 30, 2026 · Alliant Energy (LNT) Q3 2026 earnings results →

Q3 2026 Revenue up 6% year over year to $1.3B · 31¢ of every $1 of revenue kept as net profit · operating margin 30.3%

Alliant Energy made $1.3B in Q3 2026 (+6% Y/Y): IPL $664M, WPL $595M, Non-Utility and Other $26.0M. Operating margin 30.3%, net earnings $398M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 30, 2026.

Revenue$1.3B
Year over year+6%
Operating margin30.3%
Net earnings$398M
Operating cash flow$428M

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Alliant Energy Q3 2026 revenue breakdown: Sankey diagram of revenue (IPL, WPL, Non-Utility and Other), costs, profit and cash flow
Alliant Energy Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $1.3B in Q3 2026, up 6% year over year. IPL was the largest line at 52% of revenue. WPL added $0.06B year over year (up 10%), 73% of the total change.

Operating profit was $0.39B, a 30.3% margin (up 1.4 points year over year). Of the extra revenue versus Q3 2025, 53% reached operating profit, above the 29% margin then. Total costs grew 4% against revenue growth of 6%. Net earnings were $0.40B, up 42% year over year. The effective tax rate was -20.2%.

Operating cash flow was $0.43B (up 5% year over year), 108% of net earnings. Non-cash charges added back $0.22B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.21B. Capital expenditures of $0.73B exceeded it, leaving free cash flow of −$0.30B.

Quarterly history

Alliant Energy revenue by quarterAlliant Energy revenue by quarter$1.1BQ1 2025$961MQ2 2025$1.2BQ3 2025$1.1BQ4 2025$1.2BQ1 2026$971MQ2 2026$1.3BQ3 2026
Alliant Energy net earnings by quarterAlliant Energy net earnings by quarter$213MQ1 2025$174MQ2 2025$281MQ3 2025$142MQ4 2025$224MQ1 2026$170MQ2 2026$398MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 30, 2026$1.3B+6%30.3%$398M$428M
Q2 202610-QJul 31, 2026$971M+1%19.1%$170M$113M
Q1 202610-QMay 1, 2026$1.2B+5%21.0%$224M$368M
Q4 202510-KFeb 20, 2026$1.1B+9%18.5%$142M$269M
Q3 202510-QNov 7, 2025$1.2B+12%28.8%$281M$408M
Q2 202510-QAug 8, 2025$961M+8%23.2%$174M$243M
Q1 202510-QMay 9, 2025$1.1B+9%22.8%$213M$249M

Charts

Alliant Energy: revenue growth, year over year and quarter over quarterAlliant Energy: revenue growth, year over year and quarter over quarterY/YQ/Q+9%Q1 2025+8%-15%Q2 2025+12%+26%Q3 2025+9%-12%Q4 2025+5%+11%Q1 2026+1%-18%Q2 2026+6%+32%Q3 2026
Latest (Q3 2026): Y/Y +6%, Q/Q +32%.
Alliant Energy: where the cash came from (+) and went (−), TTM to Q1 2026Alliant Energy: where the cash came from (+) and went (−), TTM to Q1 2026Other financing$2.6BOther investing−$1.9BNet borrowing (+) / repaid (−)−$1.4BOperating cash flow$1.3BDividends−$528MCash drawn (+) / kept (−)−$90.0MShares issued$23.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Alliant Energy: profit against cash, quarter by quarterAlliant Energy: profit against cash, quarter by quarterNet incomeOperating cash flow$87.0M$255MQ2 2024$295M$351MQ3 2024$150M$254MQ4 2024$213M$249MQ1 2025$174M$243MQ2 2025$281M$408MQ3 2025$142M$269MQ4 2025$224M$368MQ1 2026
Latest (Q1 2026): Net income $224M, Operating cash flow $368M.
Alliant Energy: diluted shares by fiscal yearAlliant Energy: diluted shares by fiscal year249MFY2020251MFY2021251MFY2022253MFY2023257MFY2024258MFY2025
+3.7% since FY2020: more shares outstanding (issuance, stock pay).
Alliant Energy: long-term debt falling due (FY2025)Alliant Energy: long-term debt falling due (FY2025)$1.1B2026$675M2027$1.4B2028$950M2029$400M2030
Cash $556M, short-term investments —, long-term debt — at 2025-12-31.
Alliant Energy in its industry: growth against margin (29 companies, SIC 4931)Alliant Energy in its industry: growth against margin (29 companies, SIC 4931)revenue growth, year over year →↑ operating marginmedian +7%median 22%DUKPepco Holdings LLCEXCPCGEDXELConsolidated Edison Co of New York IncPEGAEEWECCMSEVRGNorthern States Power CoEvergy Kansas Central, Inc.Public Service Co of ColoradoArizona Public Service CoNISouthwestern Public Service CoWisconsin Public Service CorpNWEAVADPL LLCDayton Power & Light CoNorthern States Power CoMadison Gas & Electric CoGNEUTLCPWRLNT (+6%, 30%)
Electric & Other Services Combined; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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🔄Rotation against the market and its industry (RRG)interactive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Alliant Energy

Alliant Energy maintains its principal executive offices in Madison, Wisconsin. Alliant Energy operates as a regulated investor-owned public utility holding company, and its purpose-driven strategy is to serve its customers and build stronger communities. Alliant Energy’s primary focus is to provide regulated electric and natural gas service to approximately 1,010,000 electric and approximately 435,000 natural gas customers in the Midwest through its two public utility subsidiaries, IPL and WPL. The primary first tier wholly-owned subsidiaries of Alliant Energy are as follows:

In its own words, from its 10-K, filed Feb 20, 2026.

Alliant Energy against its Electric & Other Services Combined peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +6% against the peers' median +7%. Operating margin: 30.3% against the peers' median 22.2%.

CompanyQuarterRevenueY/YOp. margin
LNT Alliant EnergyQ3 2026$1.3B+6%30.3%
DUK Duke EnergyQ3 2026$9.1B+7%30.2%
Pepco Holdings LLCQ3 2026$7.3B+9%18.8%
EXC ExelonQ1 2026$7.2B+8%22.2%
PCG PG&EQ3 2026$6.2B-1%20.2%
ED Consolidated EdisonQ3 2026$4.9B+8%23.8%
XEL Xcel EnergyQ3 2026$4.2B+7%28.5%
Consolidated Edison Co of New YorkQ2 2026$4.1B+13%13.6%
PEG Public Service Enterprise GroupQ3 2026$3.0B-6%20.6%

Source: Alliant Energy 10-Q on SEC EDGAR · CIK 352541 · Electric & Other Services Combined

13F: who owns LNT and who is buying

Largest holders of LNT (13F)Largest holders of LNT (13F)Vanguard Group$2.2BBlackRock$1.9BState Street$1.3BVanguard Capital Management LLC$1.3BVanguard Portfolio Management LLC$1.1BPrice T Rowe Associates$879MJupiter Topco LLC$837MJanus Henderson Group$809MNuveen, LLC$602MGeode Capital Management, LLC$563M
Funds' net buying of LNT by quarter (13F)Funds' net buying of LNT by quarter (13F)−$50.1M2024-09−$103M2024-12−$210M2025-03$276M2025-06$663M2025-09$533M2025-12$487M2026-03$1.0B2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on LNT

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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