IDA

IDACORP INC

Utilities | Mid Cap

$1.15

EPS Forecast

$457.8

Revenue Forecast

The company already released most recent quarter's earnings. We will publish our AI's next quarter's forecast around 2026-08-09

IDACORP’s Q2 2026: Batteries Boost EPS, Guidance Gets its Floor Raised

Ticker: IDA. In the latest quarterly print, IDACORP increased the lower bound of its 2026 earnings per diluted share (EPS) guidance, as the company logs growth in customers, steady regulatory support, and a milestone in battery deployment that could shape its revenue forecast for the year and beyond.

Overview: A Quarter with Batteries and Backers

IDACORP, Inc. (NYSE: IDA) posted strong momentum in the June 2026 quarter. Net income attributable to IDACORP rose to about $102.6 million, equating to $1.79 per diluted share, up from $95.8 million and $1.76 per diluted share in the second quarter of 2025. The company framed the improvement as the result of continued customer growth, rate changes, and higher revenues from large contract customers, all while not recording any additional tax credits for Q2 under Idaho’s regulatory mechanism.

On the six-month slice, IDACORP reported net income of roughly $170.6 million in 2026 versus about $155.4 million in 2025, signaling that the pace of earnings growth isn’t a one-off fluke but more of a sustained trajectory tied to regulated earnings growth and project execution.

Guidance and the EPS Narrative

IDACORP increased the lower end of its full-year 2026 earnings guidance to a range of $6.30 to $6.45 per diluted share. The revised outlook reflects expectations that Idaho Power will use less than $15 million of additional tax credits available under the Idaho regulatory mechanism in 2026, a detail that matters for the revenue forecast embedded in the annual plan and for the risk balance around weather, demand, and capital deployment.

In practical terms, the lift in the floor of EPS guidance reduces earnings risk and could influence the EPS consensus among analysts. With a stronger quarter underpinning the raise, investors will be watching how the company translates battery deployment and large-contract revenues into tangible profit and how the regulated framework interacts with capital-intensive growth.

As with any earnings story, there is a subtle tension between a clean EPS beat and the durability of the drivers. The absence of a tax-credit windfall in Q2 is a reminder that the forward-looking EPS path rests on ongoing regulated returns, cost control, and project execution—not on one-off items or timing quirks.

Operational Highlights: Batteries Online and Projects Ahead

A tangible milestone came in June 2026, when IDACORP reported that 250 MW of batteries came online. This aligns with ongoing transmission and generation project work and is expected to support reliability while potentially bolstering future revenue streams from large contract customers. The cadence of these deployments helps justify the higher end of the earnings trajectory, even as capex remains a meaningful line item in cash flow analyses.

The company framed these developments as foundational to funding substantial infrastructure—precisely the kind of regulated, revenue-backed growth that investors often seek in a utility-like franchise.

Financial Snapshot: What the Numbers Say

The release presents a two-period comparison for the quarter and the first six months of 2026 versus 2025. Highlights from the excerpt include:

  • Three months ended June 30, 2026: Net income attributable to IDACORP, Inc. ≈ $102.6 million; diluted EPS ≈ $1.79.
  • Three months ended June 30, 2025: Net income ≈ $95.8 million; diluted EPS ≈ $1.76.
  • Six months ended June 30, 2026: Net income ≈ $170.6 million; Six-month 2025: Net income ≈ $155.4 million.

While the excerpt emphasizes net income movements and per-share results, it also highlights the regulatory tailwinds and capital deployment that will shape the year-end revenue forecast and EPS outcomes. The absence of a flashy tax-credit windfall in Q2 keeps attention on ongoing earnings quality and the durability of large-contract revenue streams.

Takeaways for Investors and Sector Peers

IDACORP’s Q2 2026 narrative blends stability with capital discipline and growth ambition. The key themes for investors and sector peers:

  • EPS trajectory: The higher lower bound on 2026 EPS provides a clearer floor for valuation models and influences how sell-side analysts adjust EPS consensus and price targets.
  • Regulated framework: The Idaho regulatory mechanism remains a critical driver. The ability to deploy capital while capturing regulated returns is central to the story and to the revenue forecast for the year.
  • Battery deployments: The 250 MW online milestone is a tangible signal that IDACORP is progressing on grid-scale storage, which could affect both capacity planning and ancillary revenue opportunities.
  • Macro tailwinds and resilience: Weather, capital costs, and policy reliability will test the robustness of the earnings plan. The absence of tax-credit acceleration in Q2 suggests earnings momentum will depend more on operations and rate-based earnings than on credits alone.
  • Peer implications: For sector peers, IDACORP’s trajectory underscores the value of combining regulated earnings growth with strategic asset deployment. In a universe where capital is expensive and regulatory risk exists, this model could become a reference point for how to fund infrastructure without diluting earnings quality.

About IDACORP, Inc.

IDACORP, Inc. operates as a utility holding company based in Boise, Idaho, with Idaho Power as a key regulated subsidiary. The firm’s earnings profile hinges on regulated rates, capital deployment, and the ability to monetize new capacity and storage solutions in its service territory and through large-contract arrangements.