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

IDACORP (NYSE:IDA) posted its quarterly earnings results on Thursday. The energy company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.01, Briefing.com reports. IDACORP had a return on equity of 9.48% and a net margin of 18.78%.The firm had revenue of $469.80 million during the quarter, compared to analyst estimates of $511.87 million. During the same quarter in the previous year, the firm earned $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 Price Performance

IDACORP stock traded up $1.50 during mid-day trading on Friday, reaching $143.40. 543,653 shares of the company’s stock traded hands, compared to its average volume of 466,035. The stock has a 50 day moving average of $145.64 and a two-hundred day moving average of $142.45. IDACORP has a 12-month low of $122.30 and a 12-month high of $154.91. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 1.01. The company has a market cap of $7.95 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 2.44 and a beta of 0.48.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 5th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.5%. The ex-dividend date is Wednesday, August 5th. IDACORP’s dividend payout ratio (DPR) is currently 58.28%.

Insider Buying and Selling at IDACORP

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $140.95, for a total value 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 trade represents a 41.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IDA. Caitong International Asset Management Co. Ltd increased its holdings in shares of IDACORP by 630.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock valued at $29,000 after acquiring an additional 189 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in shares of IDACORP in the 3rd quarter worth approximately $34,000. Los Angeles Capital Management LLC purchased a new stake in IDACORP during the fourth quarter valued at approximately $35,000. Smartleaf Asset Management LLC grew its holdings in IDACORP by 62.0% in the second quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company’s stock worth $36,000 after purchasing an additional 119 shares during the last quarter. Finally, Osterweis Capital Management Inc. acquired a new position in IDACORP during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

More IDACORP News

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, up from $95.8 million, or $1.76 per share, a year earlier. EPS exceeded consensus estimates, supported by customer growth, rate changes and revenue from large contract customers. IDACORP Second-Quarter 2026 Results
• Positive Sentiment: The company raised the lower end of its 2026 EPS guidance to $6.30-$6.45 from $6.25-$6.45. Management cited ongoing customer growth, rate changes and the addition of 250 megawatts of battery capacity, while assuming normal weather and limited additional tax credits. IDACORP Raises 2026 Guidance
• Positive Sentiment: Wells Fargo raised its price target to $155 from $154, indicating potential upside from recent trading levels, though it maintained an “equal weight” rating. Wells Fargo IDACORP Price Target Update
• Neutral Sentiment: Revenue increased year over year but came in at $469.8 million, below the approximately $511.9 million analyst forecast. This creates a counterpoint to the EPS beat, particularly for investors focused on utility revenue growth. IDACORP Q2 Earnings and Revenue Results
• Negative Sentiment: Recent insider activity shows several company executives selling shares and no reported insider purchases over the past six months. While these transactions may be routine, they could modestly weigh on sentiment.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IDA. Morgan Stanley reaffirmed an “overweight” rating and issued a $156.00 price objective on shares of IDACORP in a research report on Wednesday, July 22nd. Wells Fargo & Company upped their target price on shares of IDACORP from $154.00 to $155.00 and gave the company an “equal weight” rating in a research note on Friday. Weiss Ratings raised shares of IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded shares of IDACORP from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 25th. Finally, Barclays raised their target price on IDACORP from $159.00 to $167.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $155.29.

About IDACORP

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.