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.