“Sales for resale bulk power and other revenues increased for the six months ended June 30, 2026 compared to the same period in 2025, primarily due to higher volumes and higher prices for electricity sold by IPL and WPL to MISO wholesale energy markets.”10-Q · Jul 31, 2026 ↗
Alliant Energy Corporation
LNT
Market read
Alliant Energy Corporation's current read is isolated; its market group is not confirming.
The latest filing is mixed. 0 of 14 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 5 directly disclosed connections are confirming.
- Revenue increased 5.0% versus the comparable filing period.
- Operating margin fell 1.8 percentage points.
- Year-over-year percent change in Alliant Energy retail gas sales volumes for the three months ended June 30, 2026 was a 5% decrease, attributed to temperature changes.
- Six-month electric production fuel costs increased, driven by higher natural gas prices and volumes at WPL.
Invalidation: The isolated read changes if LNT's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing is mixed. 0 of 14 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 5 directly disclosed connections are confirming.
- Revenue increased 5.0% versus the comparable filing period.
- Operating cash flow covered net income at 1.64x, improving versus the comparable period.
- Operating margin fell 1.8 percentage points.
- Year-over-year percent change in Alliant Energy retail gas sales volumes for the three months ended June 30, 2026 was a 5% decrease, attributed to temperature changes.
- Six-month electric production fuel costs increased, driven by higher natural gas prices and volumes at WPL.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Latest annual revenue changed +9.6% year over year.
- Operating margin changed +1.2 percentage points in the latest annual period.
- Net margin changed +1.2 percentage points in the latest annual period.
- Energy and commodity prices has repeated favorable evidence across 5 filings.
No qualifying adverse evidence was identified; that is not proof there is no downside.
- EV/sales is 20% above the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 10, 2026
67.24Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“Electric production fuel costs increased for the six months ended June 30, 2026 compared to the same period in 2025, primarily due to higher natural gas prices and higher natural gas volumes at WPL due to higher dispatch of natural gas-fired EGUs, partially o…”10-Q · Jul 31, 2026 ↗
“Regulatory assets are also increased or decreased as a result of the annual defined benefit plan measurement process.”10-K · Feb 20, 2026 ↗
“NOTE 6(b) Long-term Debt - As of June 30, 2026, $ 50 million of commercial paper was recorded in “Long-term debt, net” on Alliant Energy’s and IPL’s balance sheets due to the existence of the long-term single credit facility that back-stops this commercial pa…”10-Q · Jul 31, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 4.0× · EV/sales 6.4×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for LNT. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
The latest filing presents a mixed picture
10-Q filed 2026-05-01 against the comparable filing from 2025-05-09.
What improved
- Revenue increased 5.0% versus the comparable filing period.
- Operating cash flow covered net income at 1.64x, improving versus the comparable period.
What weakened
- Operating margin fell 1.8 percentage points.
Filing receipts
“rider in 2025 17 17 — Timing of WPL’s fuel-related cost recoveries from retail electric customers (25) — (25) Other (primarily due to other changes in working capital) 9 13 3 $119 $77 $49 (a) Refer to the cash flows statements for details of renewable tax credits transferred to other corporate taxpayers during the three months ended March 31, 2026.”
“Alliant Energy’s net income and diluted EPS attributable to Alliant Energy common shareowners for the three months ended March 31 were as follows (dollars in millions, except per share amounts): 2026 2025 Income (Loss) EPS Income (Loss) EPS Utilities and Corporate Services $215 $0.83 $225 $0.87 ATC Holdings 11 0.04 10 0.04 Non-utility and Parent (2) — (22) (0.08) Alliant Energy Consolidated $224 $0.87 $213 $0.83 Alliant Energy’s Utilities and Corporate Services net income decreased by $10 million for the three-month period, primarily due to higher other operation and maintenance, financing and depreciation expenses and the timing of income taxes.”
“Estimated increases (decreases) to operating income from the impacts of temperatures for the three months ended March 31 were as follows (in millions): Electric Gas 2026 2025 Change 2026 2025 Change IPL ($7) ($3) ($4) ($4) ($2) ($2) WPL (3) (3) — (2) (1) (1) Total Alliant Energy ($10) ($6) ($4) ($6) ($3) ($3) Electric Sales for Resale - Alliant Energy’s and IPL’s wholesale sales volumes decreased for the three months ended March 31, 2026, compared to the same period in 2025, primarily due to the expiration of IPL’s wholesale power agreement with Southern Minnesota Energy Cooperative in 2025.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind LNT
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
BURLBurlington Stores, Inc.partnerFeb 20, 2026 ▾
“In January 2026, IPL received approval from the IUC to construct, own and operate a 94 MW natural gas-fired EGU using RICE technology at the site of its Burlington Generating Station.”
ROADConstruction Partners, Inc.partnerFeb 20, 2026 ▾
“Construction and acquisition expenditures for 2026 through 2029 are currently anticipated as follows (in millions), which are focused on adding renewable generation and energy storage projects and dispatchable gas generation projects to meet growing customer…”
Depended on by
WDWalker & Dunlop, Inc.supplierFeb 26, 2026 ▾
“Corporate debt and the related interest expense are allocated first based on specific acquisitions where debt was directly used to fund the acquisition, such as the acquisition of Alliant, and then based on the remaining segment assets.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 5 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
LNT is currently a Follower in the organic co-movement group Regulated Electric Utilities. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.