Track market-moving stories before they get noisy

Key Takeaways Alliant Energy's customer growth supports higher utility sales and a stronger regulated revenue base. LNT expects load to grow 60% by 2031, driven by large customer demand progressing with 2026 expectations. LNT plans nearly $13.4B in capital investments through 2029 to support demand and customer growth. Alliant Energy’s (LNT - Free Report) earnings prospects are supported by ongoing additions to electric and natural gas customer volumes. Its geographic footprint and regulatory tools support new wind and gas resources tied to load growth. A broader customer base also strengthens demand growth, helping offset fluctuations in usage and supporting long-term revenue expansion.

The company’s diversified customer base provides greater revenue stability by reducing its reliance on any single customer segment. In the second quarter of 2026, Alliant Energy reported 1,011,128 electric customers, up 0.69% from 1,004,242 a year earlier, while natural gas customers increased 0.47% to 432,892 from 430,859. This continued customer expansion can support higher utility sales and strengthen the company’s regulated revenue base over time. The company expects 60% load growth by 2031, with large customer demand projected to begin materializing in 2026, supporting a multi-year expansion in electricity consumption.

The growth opportunity is also supported by Alliant Energy’s strategic investment program. The company plans nearly $13.4 billion in capital investments through 2029. These investments are aimed at supporting economic development, customer growth and rising energy demand.

Alliant Energy expects 2026 ongoing earnings per share (EPS) of $3.36-$3.46 and long-term EPS growth of 5-7% through 2029, supported by increasing capital investments and rising utility demand. Therefore, stronger customer growth can support Alliant Energy’s investment plans by increasing electricity and gas demand and helping expand its rate base.

Growing Customer Base Drives Utility GrowthA steadily expanding customer base creates fresh demand for utility services, supporting revenues and earnings. Along with LNT, other utilities also witness continued customer expansion, as discussed below:

NextEra Energy’s (NEE - Free Report) Florida Power & Light unit added more than 90,000 average customers year over year in the second quarter of 2026, while weather-normalized retail sales rose 0.6%, driven primarily by population growth and supporting continued capital investment and earnings growth.

Xcel Energy (XEL - Free Report) reported 0.7% year-over-year growth in both its electric and natural gas customer bases in second-quarter 2026.

The Zacks Rundown on LNTLNT’s Earnings EstimatesThe Zacks Consensus Estimate for 2026 and 2027 EPS indicates a year-over-year increase of 6.52% and 7.21%, respectively.

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LNT’s Stock Trading at a Premium LNT is trading at a premium to the industry, with a forward 12-month price-to-earnings ratio of 19.36X versus the industry average of 15.42X.

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LNT’s Stock Price PerformanceIn the past six months, the company’s shares have plunged 3.4% compared with the industry’s 7.9% decline.

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LNT’s Zacks Rank

Key Takeaways Alliant Energy's Q2 revenue estimate of $1 billion implies year-over-year growth of 4.3%.Distribution investments and customer growth may have supported Alliant Energy's quarterly performance.Data-center demand and cost discipline may have aided results, partly offset by higher financing costs. Alliant Energy Corporation (LNT - Free Report) is scheduled to release second-quarter 2026 results on July 30, after market close. In the last reported quarter, the company’s earnings per share came in line with estimates.

Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.

Factors Likely to Have Influenced LNT’s Q2 EarningsAlliant Energy’s strategic investments in electric distribution, aimed at advancing electrification and distributed generation, are likely to have strengthened service reliability, improved customer experience and supported its bottom-line performance in the to-be-reported quarter.

Customers across Alliant Energy’s service territories benefit from electric rates that remain below the national average, making the company’s services more attractive to prospective customers. Alliant Energy continues to expand its customer base, and the resulting increase in demand is expected to have supported its revenue performance in the quarter to be reported.

Solid economic growth, expanding demand from data centers and the company’s ongoing focus on cost discipline are expected to have supported its second-quarter earnings.

However, higher financing costs may have partially offset some of the positives in the to-be-reported quarter.

Q2 Expectations for LNTThe Zacks Consensus Estimate for revenues is pinned at $1 billion, implying a year-over-year rise of 4.3%.

The Zacks Consensus Estimate for earnings is pegged at 66 cents per share, indicating a year-over-year decrease of 2.9%.

The Zacks Consensus Estimate for total electricity delivered is pegged at 7,837.56 megawatt-hours (MWh), up 0.9% year over year.

What Our Quantitative Model Predicts for LNTOur proven model does not conclusively predict an earnings beat for Alliant Energy this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as you will see below.

Stocks to ConsiderInvestors may consider the following players from the same industry, as these have the right combination of elements to post an earnings beat this reporting cycle.

Ameren Corporation (AEE - Free Report) is scheduled to report its second-quarter 2026 results on July 30, after market close. It has an Earnings ESP of +0.19% and a Zacks Rank of 2 at present.

AEE’s long-term (three to five years) earnings growth rate is 7.68%. The Zacks Consensus Estimate for earnings stands at $1.08 per share, which implies a year-over-year increase of 6.9%.

The Southern Company (SO - Free Report) is set to report its second-quarter 2026 results on July 30, before market open. It has an Earnings ESP of +1.16% and a Zacks Rank of 3 at present.

SO’s long-term earnings growth rate is 11.15%. The Zacks Consensus Estimate for earnings stands at $1.01 per share, which calls for a year-over-year jump of 11%.

Edison International (EIX - Free Report) is slated to report its second-quarter 2026 results on July 30, after market close. It has an Earnings ESP of +4.66% and a Zacks Rank of 2 at present.

EIX’s long-term earnings growth rate is 2.10%. The Zacks Consensus Estimate for earnings is pegged at $1.02 per share, which suggests a year-over-year rise of 5.2%.