IDACORP (NYSE:IDA) Releases Earnings Results, Beats Estimates By $0.01 EPS

IDACORP (NYSE:IDA) issued its earnings results on Thursday. The energy company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.01, Briefing.com reports. The business had revenue of $469.80 million during the quarter, compared to analysts’ expectations of $511.87 million. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.During the same period in the prior year, the firm posted $1.76 EPS. IDACORP updated its FY 2026 guidance to 6.300-6.450 EPS.

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

• IDACORP raised its 2026 EPS guidance floor to $6.30-$6.45 from $6.25-$6.45, citing strong operating performance and lower expected use of additional tax-credit amortization, now projected at less than $15 million versus less than $30 million previously.
• Customer growth remains robust, with customer counts up 2.3% year over year and industrial revenue up 17%; large-customer revenue contributed $6.5 million to quarterly operating income and is expected to ramp further in the second half.
• Idaho Power continues expanding capacity and grid flexibility, including 250 MW of newly operational battery storage, a 125-MW solar project, the Valmy coal-to-gas conversion, and progress on major transmission and natural-gas generation projects.
• Capital spending is expected at $1.3 billion-$1.5 billion in 2026, trending toward the high end, while the company has funded roughly half of its estimated $2 billion five-year equity requirement through ATM and forward-sale agreements.
• Management said a 2027 Idaho general rate case is increasingly likely as substantial investment enters service and depreciation and interest costs rise, although strong large-customer revenues could help moderate the request and reduce reliance on tracking mechanisms.

IDACORP Stock Up 1.7%

Shares of NYSE:IDA traded up $2.46 during trading on Friday, hitting $144.37. 98,019 shares of the company’s stock traded hands, compared to its average volume of 517,198. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average price of $145.61 and a 200-day moving average price of $142.44. IDACORP has a 52 week low of $122.30 and a 52 week high of $154.91. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 2.88 and a beta of 0.48.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 5th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.4%. IDACORP’s dividend payout ratio (DPR) is currently 58.57%.

IDACORP News Roundup

Here are the key news stories impacting IDACORP this week:

• Positive Sentiment: IDACORP reported second-quarter net income of $102.6 million, or $1.79 per diluted share, compared with $95.8 million, or $1.76 per share, a year earlier. EPS exceeded analyst expectations of approximately $1.75-$1.78. IDACORP second-quarter 2026 results
• Positive Sentiment: The utility raised the lower end of its 2026 adjusted earnings guidance to $6.30-$6.45 per share from $6.25-$6.45, bringing the outlook closer to the analyst consensus of $6.39. Management cited customer growth, rate changes, large-contract revenues and the addition of 250 megawatts of battery capacity. The forecast assumes normal weather and less than $15 million of additional tax credits. IDACORP raises 2026 guidance
• Positive Sentiment: Wells Fargo increased its IDACORP price target to $155 from $154, indicating modest potential upside from the recent trading level and signaling that the earnings update did not undermine its valuation view. Wells Fargo IDACORP price-target update
• Neutral Sentiment: Wells Fargo maintained an “equal weight” rating, suggesting the firm sees IDACORP as fairly valued relative to the broader utility sector rather than anticipating significant outperformance.
• Negative Sentiment: Second-quarter revenue of $469.8 million was below the approximately $511.9 million analyst estimate, despite the EPS beat. This could temper enthusiasm if investors focus on operating growth and future rate or demand trends. IDACORP Q2 earnings analysis
• Negative Sentiment: Recent insider activity showed sales by four executives and no purchases over the past six months, a modest negative sentiment signal, though the transactions do not change IDACORP’s underlying earnings outlook.

Insider Activity

In other news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $140.95, for a total transaction of $211,425.00. Following the completion of the sale, the vice president owned 2,138 shares of the company’s stock, valued at $301,351.10. This represents a 41.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is owned by corporate insiders.

Institutional Trading of IDACORP

Institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC lifted its stake in shares of IDACORP by 1.9% during the 3rd quarter. Quadrant Capital Group LLC now owns 5,738 shares of the energy company’s stock valued at $758,000 after buying an additional 106 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in IDACORP by 0.9% during the 4th quarter. Advisors Asset Management Inc. now owns 11,668 shares of the energy company’s stock valued at $1,477,000 after acquiring an additional 106 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of IDACORP by 62.0% during the second quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company’s stock worth $36,000 after acquiring an additional 119 shares in the last quarter. Evergreen Capital Management LLC lifted its position in shares of IDACORP by 4.9% during the second quarter. Evergreen Capital Management LLC now owns 2,541 shares of the energy company’s stock worth $293,000 after acquiring an additional 119 shares in the last quarter. Finally, MML Investors Services LLC boosted its holdings in shares of IDACORP by 2.8% in the fourth quarter. MML Investors Services LLC now owns 5,520 shares of the energy company’s stock worth $699,000 after acquiring an additional 150 shares during the period. 89.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IDA has been the subject of a number of recent analyst reports. Mizuho set a $157.00 target price on shares of IDACORP in a research report on Friday, May 1st. Wall Street Zen raised shares of IDACORP from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 25th. Morgan Stanley reiterated an “overweight” rating and set a $156.00 target price on shares of IDACORP in a research report on Wednesday, July 22nd. Weiss Ratings raised shares of IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Finally, BTIG Research reaffirmed a “buy” rating and set a $160.00 price objective on shares of IDACORP in a report on Thursday, July 23rd. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $155.29.

IDACORP Company Profile

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.