IDACORP Raises Earnings Outlook Amid Strong Q2 Performance
IDACORP (NYSE: IDA) reported second-quarter diluted earnings per share of $1.79, up from $1.76 in the same period last year. The utility company raised its full-year 2026 earnings guidance to a range of $6.30–$6.45 per diluted share, driven by rate changes, customer growth, and reduced tax-credit amortization under Idaho's regulatory mechanism. Industrial revenue grew 17% year over year as large customers began contributing more significantly in June. Contributions from Micron Technology (NASDAQ: MU) and Meta Platforms (META) were limited during the quarter but are expected to ramp up later this year. IDACORP is also advancing major infrastructure projects, including battery storage expansion and gas-generation plants. The company expects capital spending for 2026 toward the high end of its $1.3 billion–$1.5 billion range. Management emphasized that growth-related costs will not be passed on to existing customers through a general rate case filing in 2026.
Topics: Capital Spending Customer Growth Earnings Guidance Update