Idacorp Q3 net income rises on customer growth; lifts 2026 outlook

IDACORP

29/10/2026 10:44

Overview
U.S. electric utility's Q3 net income and EPS rose yr/yr on customer and revenue growth
Company raised 2026 full-year earnings guidance
Higher O&M and depreciation costs offset by regulatory recovery mechanisms

Outlook
Idacorp raises 2026 earnings guidance to $6.40–$6.50 per diluted share
Company expects Idaho Power to use less than $10 mln of additional ADITC in 2026
Idacorp forecasts 2026 Idaho Power O&M expense at $535–$545 mln, up from prior $525–$535 mln

Result Drivers
BASE RATE INCREASE - Co said Q3 results benefited from higher Idaho base rates effective Jan 1, 2026 following 2025 rate case settlement
CUSTOMER GROWTH - Co said number of Idaho Power customers grew by about 15,000, or 2.2%, in past 12 months
LARGE CONTRACT CUSTOMERS - Co said Q3 benefited from new large customer contract revenue starting June 1, 2026 and increased usage per large contract customer

Company press release: ID:nBw9jXz8va

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
 
$2.73
 
Q3 Net Income
 
$160.21 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electric utilities peer group is "buy"
Wall Street's median 12-month price target for IDACORP, Inc. is $154.00, about 10.2% above its October 28 closing price of $139.73
The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 23 three months ago

Reuters Recommended Reads
Oct 29 - Xcel Energy Q3 profit rises on electric infrastructure recovery, narrows outlook
Oct 28 - American Electric Power Q3 revenue rises 13.7%, beats estimates
Oct 27 - CenterPoint Energy Q3 adjusted EPS beats estimates, raises 2026 outlook

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)