Alliant Energy Raises Four-Year Capex 19% to $15.9 Billion as Q3 Net Income Jumps 42%

Alliant Energy (LNT) lifted its four-year capital spending plan by 19% to $15.9 billion for 2027 through 2030, citing surging data center electricity demand, and reported third-quarter net income of $398 million, up 42% from $281 million a year earlier. Diluted earnings per share rose to $1.52 from $1.09, while revenue increased 6% to $1.29 billion. The company's IPL and WPL utilities have secured 3.4 gigawatts of contracted data center demand and expect peak load to rise about 60% by 2031. The plan allocates roughly $6.8 billion to thermal generation and LNG infrastructure and $5.1 billion to renewables and storage. Annual capex is projected at $4.3 billion in 2027 and a peak of about $4.7 billion in 2028. Alliant narrowed 2026 ongoing earnings guidance to $3.41–$3.46 per share and set 2027 guidance of $3.63–$3.73, with a 2027 dividend target of $2.25 per share.