IDACORP Reports Strong 2025 Results, Initiates Higher 2026 Earnings Guidance
Summary
IDACORP reported strong 2025 financial results, exceeding prior guidance, and initiated higher earnings guidance for 2026, supported by significant capital investment plans and customer growth.
Key Events
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Strong 2025 Financial Performance
IDACORP reported full-year 2025 net income of $323.5 million, or $5.90 per diluted share, at the top end of its previously increased guidance range, driven by customer growth and rate changes.
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Higher 2026 Earnings Guidance Initiated
The company initiated full-year 2026 earnings guidance in the range of $6.25 to $6.45 per diluted share, representing a notable increase over the 2025 actuals.
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Substantial Capital Investment Plans
IDACORP outlined plans for substantial capital expenditures, forecasting an average of approximately $1.4 billion annually from 2026-2030, a significant increase from prior periods, aimed at expanding its rate base to an estimated $11.4 billion by 2030.
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Robust Customer Growth Continues
Idaho Power experienced strong customer growth of 2.3% in 2025, adding approximately 15,000 new customers, contributing to increased operating income.
Analysis
IDACORP's 8-K filing, concurrent with its 10-K, details robust financial performance for 2025, with net income at the high end of its previously increased guidance. More significantly, the company initiated 2026 earnings guidance that is notably higher than its 2025 actuals, signaling continued growth. The outlined multi-billion dollar capital investment plan through 2030, coupled with strong customer growth, reinforces a positive long-term outlook for this utility, which is currently trading near its 52-week high. Investors should note the substantial capital deployment, which underpins future rate base expansion and earnings potential.
At the time of this filing, IDA was trading at $141.74 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $7.7B. The 52-week trading range was $108.15 to $145.94. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.