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10-K2026-02-20· deepseek-chat

LNT · Alliant Energy Corporation

0000352541-26-000007

SEC filing

Summary

Alliant Energy Corporation reported strong financial performance for fiscal year 2025, with total revenues of $4.36 billion and net income attributable to common shareowners of $810 million. The company generated $1.02 billion in operating income, representing a 23.4% operating margin. Electric utility operations contributed $3.70 billion in revenue, while gas utility operations added $525 million. The company maintained solid cash flow generation with $1.17 billion from operating activities, which supported significant capital investments of $2.28 billion in utility construction and acquisition expenditures. Alliant Energy's balance sheet shows total assets of $24.99 billion, with long-term debt of $10.95 billion and total common equity of $7.33 billion. The company paid $521 million in common stock dividends and reported basic and diluted earnings per share of $3.00.

Key takeaways

Full analysis

Performance Summary

Alliant Energy Corporation reported total revenues of $4.36 billion for fiscal year 2025, with electric utility operations contributing $3.70 billion, gas utility operations adding $525 million, other utility operations providing $51 million, and non-utility operations contributing $89 million. The company achieved operating income of $1.02 billion and net income attributable to common shareowners of $810 million. Basic and diluted earnings per share were both $3.00, based on 257.0 million basic and 257.8 million diluted weighted average common shares outstanding. The company's operating margin was 23.4%, calculated from operating income of $1.02 billion divided by total revenues of $4.36 billion.

Revenue Analysis

The company's revenue streams are primarily derived from electric utility operations, which accounted for 84.9% of total revenues at $3.70 billion. Gas utility operations represented 12.0% of revenues at $525 million, while other utility and non-utility operations contributed smaller portions at $51 million and $89 million respectively. The revenue composition reflects the company's core focus on regulated utility operations serving customers in its service territories. No geographic breakdown or segment-level growth rates were provided in the available data.

Margins & Profitability

Alliant Energy achieved an operating margin of 23.4% for fiscal year 2025, with operating income of $1.02 billion on total revenues of $4.36 billion. Total operating expenses were $3.34 billion, including $846 million in depreciation and amortization, $742 million in electric production fuel and purchased power, $740 million and $679 million in other operation and maintenance expenses, $625 million in electric transmission service, $263 million in cost of gas sold, and $121 million in taxes other than income taxes. The company reported income before income taxes of $661 million and benefited from an income tax expense of -$149 million.

Cash Flow & Balance Sheet

The company generated $1.17 billion in net cash flows from operating activities, primarily driven by net income of $810 million and depreciation and amortization of $846 million. Investing activities used $1.90 billion, mainly for utility construction and acquisition expenditures of $2.28 billion. Financing activities provided $1.20 billion, including proceeds from issuance of long-term debt of $2.47 billion, capital contributions from parent of $365 million, and proceeds from issuance of common stock of $23 million, offset by common stock dividends of $521 million and payments to retire long-term debt of $300 million. The balance sheet shows total assets of $24.99 billion, including property, plant and equipment of $20.34 billion. Total liabilities were $17.66 billion, consisting of current liabilities of $2.12 billion, long-term debt of $10.95 billion, and other liabilities of $4.58 billion. Total common equity was $7.33 billion.

Outlook

The filing data provided does not include management guidance, strategic priorities, or specific risk factors that would typically be found in the Management's Discussion and Analysis section of a 10-K report. The available information focuses exclusively on historical financial results for fiscal year 2025 without forward-looking statements or projections. Investors should refer to the complete 10-K filing for comprehensive information about the company's outlook, strategic initiatives, and risk factors that may affect future performance.