IDACORP (NYSE:IDA) Releases Earnings Results

Key Points

• IDACORP beat third-quarter expectations: EPS rose to $2.73 from $2.26 a year earlier, exceeding the $2.51 consensus, while revenue reached $608 million versus the $603 million estimate.
• 2026 earnings guidance was raised to $6.40–$6.50 per share, supported by accelerating customer growth and a 27% increase in industrial revenue as Meta’s Boise data center and Micron expansions ramp up.
• The company is planning significant transmission and generation investments, while capital spending trends toward the high end of its forecast; IDACORP also increased its quarterly dividend to $0.90 per share.

IDACORP (NYSE:IDA - Get Free Report) issued its quarterly earnings data on Thursday. The energy company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.51 by $0.22, FiscalAI reports. The firm had revenue of $608.04 million during the quarter, compared to the consensus estimate of $603.00 million. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. During the same period in the prior year, the firm posted $2.26 earnings per share.

Here are the key takeaways from IDACORP's conference call:

• Third-quarter diluted EPS rose to $2.73 from $2.26 year over year, while year-to-date EPS reached $5.76 versus $5.13. IDACORP raised its 2026 EPS guidance to $6.40–$6.50 and now expects less than $10 million of additional tax-credit amortization.
• Customer growth is accelerating, led by a 27% increase in industrial revenues as Meta’s Boise data center ramps and Micron expansions progress. Management’s preliminary five-year retail load-growth forecast is 8.9% annually, reaching approximately 29,000 GWh by 2032, excluding much of the potential pipeline.
• IDACORP is advancing major transmission and generation investments, including the B2H line, SWIP North, and three company-owned gas projects totaling 819 MW. The company also shortlisted 11 projects in its 2032 RFP and expects to select projects and pursue related regulatory approvals by year-end.
• Capital spending is trending toward the high end of the $1.3 billion–$1.5 billion 2026 range, with an updated multiyear forecast due on the fourth-quarter call. IDACORP has approximately $873 million of equity forwards available and intends to maintain roughly a 50/50 debt-equity capital structure, though incremental projects could require additional financing.
• Management expects additional ADITC usage may be necessary in 2027 as substantial construction work converts from CWIP to rate-base plant before a potential rate case takes effect. A 2027 general rate case is increasingly likely, although the company will not make a final determination until it assesses project timing and finances.

IDACORP Stock Up 3.0%

Shares of IDA stock traded up $4.16 during mid-day trading on Thursday, reaching $143.89. 559,850 shares of the company's stock traded hands, compared to its average volume of 601,037. The company's 50-day moving average price is $135.36 and its 200-day moving average price is $140.60. The company has a market cap of $8.32 billion, a P/E ratio of 23.82, a P/E/G ratio of 2.42 and a beta of 0.48. The company has a quick ratio of 0.75, a current ratio of 0.99 and a debt-to-equity ratio of 0.97. IDACORP has a 12 month low of $124.12 and a 12 month high of $154.91.

IDACORP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Thursday, November 5th will be issued a dividend of $0.90 per share. This is a boost from IDACORP's previous quarterly dividend of $0.88. The ex-dividend date is Thursday, November 5th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.5%. IDACORP's dividend payout ratio (DPR) is presently 58.28%.

Key Stories Impacting IDACORP

Here are the key news stories impacting IDACORP this week:

• Positive Sentiment: Quarterly earnings beat expectations. Third-quarter net income rose to $160.2 million, or $2.73 per diluted share, from $124.4 million, or $2.26 per share, a year earlier. EPS exceeded the $2.51 analyst consensus, while revenue of $608.0 million also topped estimates of approximately $603.0 million. IDACORP quarterly earnings report
• Positive Sentiment: Full-year guidance was raised. IDACORP now expects 2026 earnings of $6.40 to $6.50 per diluted share, up from its previous range of $6.30 to $6.45 and modestly above the $6.39 consensus estimate. The higher outlook reinforces investor expectations for continued earnings growth. IDACORP revised earnings guidance
• Positive Sentiment: Underlying operating trends improved. Management cited customer growth, higher regulated base rates and stronger revenue from large contract customers. Nine-month net income reached $330.8 million, compared with $279.9 million in the prior-year period. IDACORP third-quarter results
• Neutral Sentiment: IDACORP said Idaho Power expects to use less than $10 million of additional tax credits under the Idaho regulatory mechanism in 2026. This may support earnings, although the benefit appears limited relative to the company’s overall results.
• Negative Sentiment: Recent insider-trading data showed sales, rather than purchases, by two company executives. While these transactions are not necessarily related to operating performance, they may be a modest cautionary signal for investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on IDA shares. Morgan Stanley boosted their price target on IDACORP from $143.00 to $144.00 and gave the company an "overweight" rating in a report on Wednesday, October 21st. Wall Street Zen upgraded IDACORP from a "sell" rating to a "hold" rating in a report on Sunday, September 6th. Wells Fargo & Company raised their price target on IDACORP from $154.00 to $155.00 and gave the stock an "equal weight" rating in a research note on Friday, July 31st. BTIG Research set a $153.00 price objective on shares of IDACORP in a research report on Tuesday, October 20th. Finally, Barclays decreased their price objective on shares of IDACORP from $162.00 to $149.00 and set an "overweight" rating for the company in a report on Friday, October 9th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $150.00.

IDACORP Company Profile

IDACORP, Inc is a holding company whose principal subsidiary, Idaho Power Company, is a regulated electric utility. Idaho Power generates, purchases, transmits, distributes and sells electricity to residential, commercial, industrial and agricultural customers.

Idaho Power serves customers across southern Idaho and eastern Oregon. Its power supply includes a substantial hydroelectric system, along with energy from thermal, wind, solar and other resources. The company also operates and maintains the transmission and distribution infrastructure needed to deliver electricity throughout its service area.

Idaho Power traces its history to 1916, when it was established to provide electric service in Idaho.

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