Despite what Google AI says (it picks up on what others say) Lutherans do not believe in baptismal regeneration:
The Sacrament of Holy Baptism
and:
Holy Baptism
Note, the difference between Lutheran and Presbyterian (Reformed) Confessions of faith I must admit is how deeply expounded the confessions are. If not versed in theological terminology (defined by Scripture and not the RCC) certainly anybody will be lost in the Lutheran Confessions of faith. Whereas the Presbyterians WCF and Heidelberg seemingly go to great length expounding each point.
Let me define baptismal regeneration as regeneration soon as the baptismal drops of water touch anybody. The best way to understand the Reformed (theologically Apostolic strict Lutherans and Presbyterians) is through Covenant Baptism. Generally, Covenant Baptism contrasts or vs. Dispensationalism. Augustine early church father believed in monergism and that all are born in Adam; therefore, baptism was necessary for an infant to enter into heaven no matter the slight sin the infant was guilty. That is, the current position of the Roman Catholic church, but if you read the Lutheran theology, you'll probably pick up a quick distinction because the institution of the word, and justification are also mentioned for "salvation" and not by baptism alone. And, that stands in contrast to most Baptist which believe there is an age of reason or accountability, and infants all go to heaven and are innocent enough before G-d (that comment addressed some).
I am Lutheran belonging to the LBC and theologically Calvinist as well Covenant and see no discrepancies between the Lutherans and Presbyterians I do not see within each of their own bodies. In other words, it isn't uncommon to find a 1 point Arminian inside the Reformed Presbyterian church or 4-point Calvinist by what many others call them. I consider them Arminian because it is all 5 points or nothing (logical contradiction).
Here's a good reference if desiring to understand the Reformed position:
Covenant Theology And Infant Baptism - The Heidelblog