IDACORP (NYSE:IDA) Announces Quarterly Earnings Results

IDACORP (NYSE:IDA) issued its quarterly earnings data on Thursday. The energy company reported $1.79 EPS for the quarter, topping 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 last year, the company 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 Trading Down 1.5%

NYSE:IDA traded down $2.19 on Thursday, reaching $142.21. 423,893 shares of the company’s stock were exchanged, compared to its average volume of 522,405. The firm has a market capitalization of $7.88 billion, a price-to-earnings ratio of 23.66, a price-to-earnings-growth ratio of 2.88 and a beta of 0.48. IDACORP has a 52-week low of $122.30 and a 52-week 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 business has a fifty day moving average of $145.61 and a 200-day moving average of $142.44.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 5th will be paid a dividend of $0.88 per share. The ex-dividend date is Wednesday, August 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. IDACORP’s dividend payout ratio is 58.57%.

Analyst Ratings Changes

A number of research firms have recently issued reports on IDA. Mizuho set a $157.00 target price on shares of IDACORP in a report on Friday, May 1st. Barclays boosted their target price on IDACORP from $159.00 to $167.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Morgan Stanley reaffirmed an “overweight” rating and issued a $156.00 price target on shares of IDACORP in a report on Wednesday, July 22nd. Wall Street Zen upgraded shares of IDACORP from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, Wells Fargo & Company raised shares of IDACORP from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $121.00 to $154.00 in a research note on Tuesday, July 21st. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $155.14.

Insider Activity at IDACORP

In related news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP stock in a transaction that occurred 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 transaction, the vice president owned 2,138 shares in the company, valued at approximately $301,351.10. The trade was a 41.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On IDACORP

Institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd raised its stake in shares of IDACORP by 630.0% in the third 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 in the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in IDACORP in the 3rd quarter valued at about $34,000. Los Angeles Capital Management LLC acquired a new stake in IDACORP in the 4th quarter valued at about $35,000. Smartleaf Asset Management LLC boosted its stake in shares of IDACORP by 62.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company’s stock valued at $36,000 after buying an additional 119 shares during the period. Finally, Osterweis Capital Management Inc. acquired a new position in shares of IDACORP during the fourth quarter worth about $45,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

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.