IDACORP reported third-quarter 2026 net income of $160.2 million, or $2.73 per diluted share, significantly exceeding analyst expectations. The results were primarily driven by new Idaho base rates and expanding operations from large contract industrial customers, prompting management to raise the full-year 2026 earnings outlook.
Key Highlights
- Diluted EPS of $2.73 beat the analyst estimate of $2.51, representing a 20.8% increase over the $2.26 reported in the same period last year.
- Management increased its full-year 2026 EPS guidance to a range of $6.40–$6.50, up from the previous forecast of $6.30–$6.45.
- Revenue from large contract industrial customers added $11.8 million to operating income as demand from new operations continued to ramp up.
- Idaho Power's customer base grew by 2.2% year-over-year, adding approximately 15,000 new customers over the last twelve months.
- The company expects to use less than $10 million in additional tax credits for 2026, a sharp decrease from the $39 million used through the first nine months of 2025.