IDACORP (NYSE:IDA) Announces 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, beating analysts’ consensus estimates of $1.78 by $0.01, Briefing.com reports. The business had revenue of $469.80 million for the quarter, compared to analysts’ expectations of $511.87 million. IDACORP had a net margin of 18.60% and a return on equity of 9.40%. During the same quarter in the previous 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 Price Performance

NYSE IDA traded down $2.19 on Thursday, reaching $142.21. 423,893 shares of the company’s stock traded hands, compared to its average volume of 522,405. IDACORP has a 12 month low of $122.30 and a 12 month high of $154.91. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 0.95. The stock has a 50-day simple moving average of $145.61 and a 200 day simple moving average of $142.44. The stock has a market cap of $7.88 billion, a PE ratio of 23.66, a P/E/G ratio of 2.88 and a beta of 0.48.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 5th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 5th. IDACORP’s dividend payout ratio (DPR) is currently 58.57%.

Insider Buying and Selling

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the business’s stock in a transaction on 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 directly owned 2,138 shares of the company’s stock, valued at $301,351.10. The trade was a 41.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IDACORP

Several institutional investors and hedge funds have recently bought and sold shares of IDA. Evolve Private Wealth LLC bought a new position in shares of IDACORP in the fourth quarter worth approximately $391,000. Howe & Rusling Inc. purchased a new stake in IDACORP during the 4th quarter valued at $379,000. CIBC Bancorp USA Inc. purchased a new stake in IDACORP during the 3rd quarter valued at $365,000. Wealthspire Advisors LLC grew its holdings in IDACORP by 14.7% in the 4th quarter. Wealthspire Advisors LLC now owns 2,642 shares of the energy company’s stock worth $334,000 after acquiring an additional 338 shares during the last quarter. Finally, First Citizens Bank & Trust Co. increased its position in shares of IDACORP by 7.9% in the fourth quarter. First Citizens Bank & Trust Co. now owns 2,589 shares of the energy company’s stock valued at $328,000 after acquiring an additional 189 shares during the period. 89.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IDA. Wall Street Zen raised IDACORP from a “strong sell” rating to a “sell” rating in a report on Saturday, July 25th. Weiss Ratings raised IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Wells Fargo & Company upgraded IDACORP from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $121.00 to $154.00 in a research report on Tuesday, July 21st. Barclays increased their price target on shares of IDACORP from $159.00 to $167.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Finally, Morgan Stanley restated an “overweight” rating and issued a $156.00 price objective on shares of IDACORP in a research report on Wednesday, July 22nd. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $155.14.

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.