Executive Summary
Alliant Energy Corporation reported Q2 2025 revenue of $961 million with a gross profit of $254 million and operating income of $223 million. Net income totaled $174 million, or about $0.68 per share, reflecting a year-over-year improvement of roughly 100% but a quarter-over-quarter decline of ~18%. EBITDA stood at $463 million, underscoring solid core operating performance within a regulated utility framework. Management highlighted stable load growth supported by regulated rate base, ongoing grid modernization initiatives, and disciplined capital allocation alongside a sizable debt burden that remains a focal point for financing and regulatory scrutiny. Cash flow from operations was robust at $243 million, contributing to free cash flow of $243 million and a year-to-date dividend outlay of $131 million. On the balance sheet, total assets reached $23.75 billion with total liabilities of $16.61 billion and total equity of $7.15 billion; net debt stood at approximately $10.98 billion. Liquidity metrics show a modest liquidity profile with current assets of $1.474 billion against current liabilities of $2.579 billion, implying a current ratio near 0.57. The quarter’s mix suggests that earnings quality remains anchored by regulated activities, though leverage and financing costs warrant close attention in the near term.
Key Performance Indicators
QoQ: -49.00% | YoY:-26.80%
QoQ: -13.23% | YoY:71.54%
QoQ: -18.31% | YoY:100.00%
QoQ: -18.07% | YoY:100.00%
Key Insights
Revenue: $961.0 million (YoY +7.49%, QoQ -14.80%). Gross Profit: $254.0 million (YoY -26.80%, QoQ -49.00%). Operating Income: $223.0 million (YoY +71.54%, QoQ -13.23%). Net Income: $174.0 million (YoY +100.00%, QoQ -18.31%). EPS: $0.68 (YoY +100.00%, QoQ -18.07%). EBITDA: $463.0 million (EBITDA Margin ~48.18%). Net Margin: ~13.63% (as reported in ratios). Operating Margin: ~23.20%. Cash flow from operations: $243.0 million; Free cash flow: $243.0 million. Dividends paid: $131.0 million. Net debt...
Financial Highlights
Revenue: $961.0 million (YoY +7.49%, QoQ -14.80%). Gross Profit: $254.0 million (YoY -26.80%, QoQ -49.00%). Operating Income: $223.0 million (YoY +71.54%, QoQ -13.23%). Net Income: $174.0 million (YoY +100.00%, QoQ -18.31%). EPS: $0.68 (YoY +100.00%, QoQ -18.07%). EBITDA: $463.0 million (EBITDA Margin ~48.18%). Net Margin: ~13.63% (as reported in ratios). Operating Margin: ~23.20%. Cash flow from operations: $243.0 million; Free cash flow: $243.0 million. Dividends paid: $131.0 million. Net debt: $10.978 billion; Total debt: $11.307 billion. Cash and cash equivalents: $329.0 million. Current assets: $1.474 billion; Current liabilities: $2.579 billion; Quick ratio ~0.33. D&A: $208.0 million; Interest expense: $124.0 million.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
961.00M |
7.49% |
-14.80% |
| Gross Profit |
254.00M |
-26.80% |
-49.00% |
| Operating Income |
223.00M |
71.54% |
-13.23% |
| Net Income |
174.00M |
100.00% |
-18.31% |
| EPS |
0.68 |
100.00% |
-18.07% |
Management Commentary
Transcript data not provided in the current input. Summary themes and quotes from the QQ2 2025 earnings call are not available; once the transcript is supplied, we will incorporate management commentary on regulated rate base growth, capital expenditure plans, weather-related demand, financing strategies, and potential regulatory outcomes.
Transcript not provided.
— Management
Transcript not provided.
— Management
Forward Guidance
No explicit forward guidance was included in the provided data. For a regulated utility like Alliant Energy, future performance will hinge on: (1) regulatory outcomes and rate-case approvals that determine allowed returns on investment in the grid and clean energy transition; (2) capital expenditure cadence supporting grid reliability, customer service, and emissions/renewables integration; (3) energy mix shifts and weather normalization; (4) interest rates and financing costs affecting debt service and equity financing. Our view is that earnings visibility remains anchored by regulated earnings streams, with upside potential if rate bases grow in line with capex and regulatory approvals, offset by higher financing costs in a higher-rate environment. Investors should monitor: regulatory filings, capex progress, weather-driven demand, interest rate trajectory, and liquidity management for refinancing needs.