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LNT FY2026 Q2 IMPROVING

Отчётный звонок Alliant Energy Corporation

Jul 31, 2026 · 10:00 ET Lisa BartonRobert DurianSusan Gill
Вывод Buzzberg

Reaffirmed 2026 guidance, trending in upper half

Alliant Energy's Q2 2026 call focused on the rapid acceleration of large data center customer loads (Google, QTS, Meta) and the potential for an uplifted, more specific long-term growth outlook at the Q3 update. Management reiterated 2026 guidance, trending to the upper half, and discussed extending its Iowa rate freeze. Reaffirmed 2026 EPS guidance, trending to the upper half of the range after a strong Q2.

Вывод Buzzberg Reaffirmed 2026 guidance, trending in upper half Alliant Energy's Q2 2026 call focused on the rapid acceleration of large data center customer loads (Google, QTS, Meta) and the potential for an uplifted, more specific long-term growth outlook at the Q3 update. Management reiterated 2026 guidance, trending to the upper half, and discussed extending its Iowa rate freeze. Reaffirmed 2026 EPS guidance, trending to the upper half of the range after a strong Q2. Читать полный анализСвернуть анализ

Alliant Energy's Q2 2026 call focused on the rapid acceleration of large data center customer loads (Google, QTS, Meta) and the potential for an uplifted, more specific long-term growth outlook at the Q3 update. Management reiterated 2026 guidance, trending to the upper half, and discussed extending its Iowa rate freeze. Reaffirmed 2026 EPS guidance, trending to the upper half of the range after a strong Q2.

  • Signaled a potential raise and more specificity to the long-term EPS CAGR target (currently 7%+) at the Q3 earnings update, driven by robust data center demand.
  • QTS Cedar Rapids is ramping ahead of schedule (load acceleration), with over 40MW already online.
  • The accelerated QTS ramp may allow Alliant to extend its Iowa retail rate freeze beyond 2029.
Revenue $0.971B -18% QoQ
EPS $0.65 -21% QoQ
Gross margin 45.11% reported
Op margin 19.05% reported

Что изменилось в этом квартале

01
Guidance

Reaffirmed 2026 guidance, trending in upper half

Guidance tone

02
Demand

Data center load growth exceeds expectations, 60% demand increase by 2031

Management expressed strong execution and reaffirmed guidance while highlighting positive developments in data center load growth and regulatory approvals.

03
Demand

QTS Cedar Rapids ramp accelerated via amended agreement

Data center load growth exceeds expectations, 60% demand increase by 2031. Management expressed strong execution and reaffirmed guidance while highlighting positive developments in data center load growth and regulatory approvals.

04
Regulatory

Stay out from Iowa rate reviews extended beyond 2029

QTS Cedar Rapids is ramping ahead of schedule (load acceleration), with over 40MW already online.

AI, капзатраты и спрос

AI

Платформа и монетизация

AI is not discussed in the transcript.

Спрос

Заказы и конверсия

Data center load growth exceeds expectations, 60% demand increase by 2031. Management expressed strong execution and reaffirmed guidance while highlighting positive developments in data center load growth and regulatory approvals.

Капзатраты

Инвестиции и мощности

Management reaffirmed its long-term capital investment plan, highlighting significant progress in advancing generation projects (e.g., Bobcat Energy Center, Rice Project, Riverhawk, Morgan Valley) and updating the capital expenditure plan on the third quarter call. They emphasized proactive financing, having raised ~$1.8 billion of the $2.4 billion equity needs through 2029.

Тон · Confident

Management expressed strong execution and reaffirmed guidance while highlighting positive developments in data center load growth and regulatory approvals.

Альфа цепочки поставок

A1

Management expects to provide a more specific, and likely higher, long-term EPS CAGR (currently 7%+) when it updates its capital expenditure plan in Q3, as it evaluates dropping the 'plus'.

A2

The QTS Cedar Rapids load ramp acceleration is so strong that Alliant believes it can extend its Iowa retail rate freeze beyond the current commitment through 2029.

“we have a commitment to stay out of rate reviews in Iowa for our retail electric business through 2029. And we really are focused right now on trying to add more data centers and trying to accelerate load. The combination of that too could…”
Robert Durian
A3

Alliant is seeing ancillary economic benefits from data center construction (including over 10,000 workers in one city), which is boosting broader commercial and industrial load growth.

“we have over 10,000 workers in that city... That's driving more hotel usage, more restaurant usage and other things. And so we're seeing some of the ancillary benefits of some of that data center development activities”
Robert Durian

Прогноз компании

ImprovingGuidance tone · was IN LINE last Q
Прогноз компании
ПоказательПериодДиапазонСерединаСтатус
EPSFY20297%7%GUIDED
EPSFY2026$2.79–$2.93$2.86MAINTAINED

Сигналы по компаниям

+4.5%
с момента звонка
$345.30$360.83
Клиенты

Google's data center in Iowa is live and ramping as contracted, indicating continued strong demand for power in Alliant's territory.

“In Cedar Rapids, Iowa, Google has energized their transmission service. They are anticipating ramping in accordance with a contracted load schedule.”
Lisa Barton
+8.3%
с момента звонка
$545.89$591.30
Клиенты

Meta's Wisconsin data center is in vertical construction, keeping its planned load ramp on track.

“In Beaver Dam, Wisconsin, META has entered the vertical construction phase with work actively progressing on data center facilities and supporting infrastructure.”
Lisa Barton
с момента звонка
Клиенты

QTS's accelerated ramp will increase Alliant's revenues and reduce the need to use tax credits, potentially allowing a longer rate case stay-out.

“QTS continues to make substantial progress on construction of its seven-building data center campus with initial energization of 300 megawatts anticipated later this year.”
Lisa Barton