Alliant Energy beats quarterly profit estimates on strong power demand

Feb 19 (Reuters) - U.S. utility Alliant Energy LNT.O beat Wall Street estimates for fourth-quarter profit on Thursday, benefiting from robust power demand and strong performance in its electric and gas segments.

U.S. electricity use reached record highs last year and is expected to rise again in 2026, as AI and crypto data centers expand and more consumers switch from fossil fuels to electricity for heating and vehicles.

Revenue from Alliant's electric utility business rose to $870 million in the quarter ended December 31, from $793 million a year earlier. Quarterly gas segment revenue climbed about 11% to $159 million.

The company also reaffirmed its 2026 profit guidance of $3.36 per share to $3.46 per share, while forecasting annual capital expenditure of $3.13 billion.

Adjusted fourth-quarter profit came in at 60 cents per share, compared with analysts' expectations of 58 cents per share, according to data compiled by LSEG.

Operating expenses rose to $868 million during the quarter, compared to $754 million a year earlier.

Alliant supplies electricity to about 1 million customers and natural gas to 427,000 customers in Iowa and Wisconsin.